Financial Health Network Inc
Financial Health Network Inc maintains stable assets despite fluctuating revenues and occasional operating deficits.
EIN: 203006098 · Chicago, IL · NTEE: S30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $15.8M |
| Total Expenses | $12.0M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $10 |
| Net Assets | $15.1M |
| Transparency Score | 85/100 |
Is Financial Health Network Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Financial Health Network Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Financial Health Network Inc
Financial Health Network Inc (EIN: 203006098) is a nonprofit organization based in Chicago, IL, classified under NTEE code S30. The organization reported total revenue of $15.8M and total assets of $22.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Financial Health Network Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Financial Health Network Inc is a large nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.6M |
| Total Expenses | $12.0M |
| Surplus / Deficit | $-353,343 |
| Total Assets | $18.7M |
| Total Liabilities | $3.6M |
| Net Assets | $15.1M |
| Operating Margin | -3.0% |
| Debt-to-Asset Ratio | 19.1% |
| Months of Reserves | 18.8 months |
Financial Health Grade: B
In 2023, Financial Health Network Inc reported a deficit of $353K with expenses exceeding revenue, holds 18.8 months of operating reserves (strong position), has a debt-to-asset ratio of 19.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Financial Health Network Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -39.5% | -32.4% | -1.3% |
| 2022 | +3.3% | -3.7% | -3.6% |
| 2021 | -13.9% | +4.3% | -1.7% |
| 2020 | +45.3% | +11.6% | +26.7% |
| 2019 | +22.9% | +13.2% | -14.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Financial Health Network Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Financial Health Network Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $353K, with expenses exceeding revenue.
- Debt-to-asset ratio: 19.1%.
Executive Compensation Analysis
The provided data consistently reports 0% officer compensation across all filings, which is highly unusual for an organization of this size with revenues often exceeding $10 million. This suggests either that executive compensation is reported under different categories, or that the organization has a unique, potentially volunteer-based, leadership structure.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Financial Health Network Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is atypical for an organization of this scale and requires further clarification.
- Significant revenue volatility, particularly the large spike in 2014, which could indicate reliance on non-recurring funding sources.
Strengths
The following positive indicators were identified for Financial Health Network Inc:
- Strong asset base, consistently exceeding liabilities, indicating financial stability (e.g., $18,727,767 assets vs. $3,579,735 liabilities in 2023).
- Long history of IRS 990 filings (13 periods), demonstrating commitment to transparency.
- Generally effective expense management, often operating with a surplus or manageable deficit.
- Positive net assets, indicating a healthy financial position over time.
Frequently Asked Questions about Financial Health Network Inc
Is Financial Health Network Inc a legitimate charity?
Financial Health Network Inc (EIN: 203006098) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $15.8M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Financial Health Network Inc spend its money?
Financial Health Network Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Financial Health Network Inc tax-deductible?
Financial Health Network Inc is registered as a tax-exempt nonprofit (EIN: 203006098). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Financial Health Network Inc CEO make?
Financial Health Network Inc's highest-compensated officer earns $10 annually. The organization reported $15.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Financial Health Network Inc's spending goes to programs?
Financial Health Network Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Financial Health Network Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Financial Health Network Inc is above average for NTEE category S30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Financial Health Network Inc located?
Financial Health Network Inc is headquartered in Chicago, Illinois and files with the IRS under EIN 203006098. It is classified under NTEE code S30.
How many years of IRS 990 filings does Financial Health Network Inc have?
Financial Health Network Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $15.8M in total revenue.
How does Financial Health Network Inc manage to report 0% officer compensation across all filings?
The consistent reporting of 0% officer compensation is highly unusual. It could mean that executive leadership is compensated through other means not categorized as 'officer compensation' on the 990, or that the organization's top leadership roles are filled by volunteers or individuals compensated through a related entity. Further investigation into their detailed compensation schedules would be necessary to understand this structure.
What caused the significant revenue spike in 2014 ($33,610,479) and subsequent drop?
The dramatic increase in revenue in 2014, reaching $33,610,479, followed by a sharp decline in subsequent years, suggests a potential one-time grant, major project, or significant fundraising event during that period. Without more detailed financial statements, the exact cause remains speculative but indicates a non-recurring income source.
Is the recent operating deficit in 2023 ($11,629,061 revenue vs. $11,982,404 expenses) a cause for concern?
While the 2023 filing shows a slight operating deficit, it's a relatively small percentage of total expenses. Given the organization's substantial asset base ($18,727,767 in 2023) and history of managing fluctuations, a single year's deficit is not immediately alarming but warrants monitoring to ensure it doesn't become a trend.
Filing History
IRS 990 filing history for Financial Health Network Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Financial Health Network Inc's revenue has grown by 182.3%, moving from $4.1M to $11.6M. Total assets increased by 342.6% over the same period, from $4.2M to $18.7M. Total functional expenses rose by 131.1%, from $5.2M to $12.0M. In its most recent filing year (2023), Financial Health Network Inc reported a deficit of $353K, with expenses exceeding revenue. The organization holds $3.6M in liabilities against $18.7M in assets (debt-to-asset ratio: 19.1%), resulting in net assets of $15.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.6M | $12.0M | $18.7M | $3.6M | — | View 990 |
| 2022 | $19.2M | $17.7M | $19.0M | $3.1M | — | — |
| 2021 | $18.6M | $18.4M | $19.7M | $5.6M | — | View 990 |
| 2020 | $21.6M | $17.6M | $20.0M | $6.4M | — | — |
| 2019 | $14.9M | $15.8M | $15.8M | $6.2M | — | — |
| 2018 | $12.1M | $14.0M | $18.4M | $2.5M | — | View 990 |
| 2017 | $11.8M | $12.9M | $20.5M | $2.7M | — | View 990 |
| 2016 | $6.2M | $12.2M | $20.5M | $1.6M | — | View 990 |
| 2015 | $5.2M | $11.6M | $26.4M | $1.6M | — | View 990 |
| 2014 | $33.6M | $7.8M | $32.4M | $1.4M | — | View 990 |
| 2013 | $5.0M | $8.6M | $7.8M | $2.7M | — | View 990 |
| 2012 | $10.8M | $4.6M | $9.7M | $980K | — | View 990 |
| 2011 | $4.1M | $5.2M | $4.2M | $1.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.6M, expenses of $12.0M, and assets of $18.7M (revenue -39.5% year-over-year).
- 2022: Revenue of $19.2M, expenses of $17.7M, and assets of $19.0M (revenue +3.3% year-over-year).
- 2021: Revenue of $18.6M, expenses of $18.4M, and assets of $19.7M (revenue -13.9% year-over-year).
- 2020: Revenue of $21.6M, expenses of $17.6M, and assets of $20.0M (revenue +45.3% year-over-year).
- 2019: Revenue of $14.9M, expenses of $15.8M, and assets of $15.8M (revenue +22.9% year-over-year).
- 2018: Revenue of $12.1M, expenses of $14.0M, and assets of $18.4M (revenue +2.5% year-over-year).
- 2017: Revenue of $11.8M, expenses of $12.9M, and assets of $20.5M (revenue +89.9% year-over-year).
- 2016: Revenue of $6.2M, expenses of $12.2M, and assets of $20.5M (revenue +20.1% year-over-year).
- 2015: Revenue of $5.2M, expenses of $11.6M, and assets of $26.4M (revenue -84.6% year-over-year).
- 2014: Revenue of $33.6M, expenses of $7.8M, and assets of $32.4M (revenue +577.0% year-over-year).
- 2013: Revenue of $5.0M, expenses of $8.6M, and assets of $7.8M (revenue -53.9% year-over-year).
- 2012: Revenue of $10.8M, expenses of $4.6M, and assets of $9.7M (revenue +161.3% year-over-year).
- 2011: Revenue of $4.1M, expenses of $5.2M, and assets of $4.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Financial Health Network Inc:
Data Sources and Methodology
This transparency report for Financial Health Network Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.