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Financial Health Network
Also known as Financial Health Network
Financial Health Network reported $15.7 million in revenue and $11.4 million in expenses for calendar year 2024. Of every $100 it spent, $82.48 went to program services, $13.51 to management and general costs and $4.01 to fundraising. Its largest source of revenue was contributions and grants: 52.4% of the total. The highest compensation it reported for one person was $388,743 (PRESIDENT AND CHIEF EXECUTIVE OFFICER). 23 people received more than $100,000 in reportable compensation. Revenue rose 5% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $11MFor context, the median across 479 covered community improvement & capacity building charities: $90.45 programs, $9.31 management, $0.24 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $16MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 82.5% | 89.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 13.5% | 9.2% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.0% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.06 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 52.4% | 80.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 14.9% |
| Program service revenue share Part VIII 2g ÷ 12 | 42.0% | 11.9% |
| Highest reported compensation Part VII-A, columns D–F | $388,743 | $291,103 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.40% | 1.49% |
| People paid over $100,000 Part VII, line 2 | 23 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 20.0 | 9.2 |
| Independent voting board members Part VI 1a–1b | 9 of 10 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseFinancial Health Network leads a network of companies which fosters and accelerates consumer-focused innovation. Through its compass principles and a lineup of proprietary research, insights and events, Financial Health Network informs, advises and connects members of its network to seed the innovation that will transform the financial services landscape and improve the lives of low and moderate-income americans
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT AND CHIEF EXECUTIVE OFFICER Director/trustee, officer, 40.00 hrs/week | $374,850 | $0 | $13,893 | $388,743 |
| CHIEF OPERATING OFFICER Officer, 40.00 hrs/week | $295,222 | $0 | $8,095 | $303,317 |
| CHIEF PROGRAM OFFICER Highest compensated employee, 40.00 hrs/week | $273,156 | $0 | $9,470 | $282,626 |
| CHIEF MARKET AND BUSINESS DEVELOPMENT OFFICER Highest compensated employee, 36.00 hrs/week | $238,256 | $0 | $13,715 | $251,971 |
| VP, WORKPLACE MARKET LEAD Highest compensated employee, 40.00 hrs/week | $224,400 | $0 | $21,204 | $245,604 |
| VP, FINANCIAL SERVICES SOLUTIONS Highest compensated employee, 40.00 hrs/week | $209,475 | $0 | $10,724 | $220,199 |
| VP, FINANCE & OPS (FROM 1/10/24) Highest compensated employee, 40.00 hrs/week | $182,728 | $0 | $18,685 | $201,413 |
23 people received more than $100,000 in reportable compensation from Financial Health Network (Part VII, line 2). Compensation of current officers, directors and key employees totaled $692K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b10 · 9 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 547
- Volunteers Part I, line 69
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| STATEMENT COMMUNICATIONS Communications & design | $605,705 |
| MARRIOTT INTERNATIONAL INC Event services | $200,000 |
| UNIVERSITY OF SOUTHERN CALIFORNIA Programmatic research | $192,593 |
| COSMO PUBLIC RELATIONS INC Public relations | $178,005 |
| IPSOS-INSIGHT LLC Research data support | $143,000 |
Individuals listed as contractors are left out. 9 contractors were paid more than $100,000 in all.
Private foundation grants it received
8 private foundations reported grants to Financial Health Network totaling $2.7M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Financial Health Network's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Financial Health Network, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Financial Health Network spent in 2024, $82.48 went to programs. The full breakdown, from its IRS Form 990:
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All community improvement & capacity building charities · Largest charities in Illinois
Questions people ask
How much of Financial Health Network's spending goes to programs?
In calendar year 2024, Financial Health Network reported that 82.5% of its $11.4 million in expenses went to program services, 13.5% to management and general and 4.0% to fundraising (Form 990, Part IX).
How much does Financial Health Network pay its top executive?
The largest total compensation Financial Health Network reported for one person in calendar year 2024 was $388,743, for the role of PRESIDENT AND CHIEF EXECUTIVE OFFICER (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Financial Health Network get its money?
Of $15.7 million in revenue in calendar year 2024, 52.4% came from contributions and grants and 42.0% from program service revenue (Form 990, Part VIII).
Is Financial Health Network a registered charity?
The IRS lists EIN 20-3006098 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202532179349300608 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202403129349303220 · read the filing
- 2022: Form 990 for calendar year 2022, object 202332629349300318 · read the filing
- 2021: Form 990 for calendar year 2021, object 202201959349301915 · read the filing
- 2020: Form 990 for calendar year 2020, object 202101659349300415 · read the filing
- 2019: Form 990 for calendar year 2019, object 202141399349301319 · read the filing
All filings for EIN 20-3006098: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.