Heart Rhythm Society Inc
- Assets
- $14.7m
- Revenue
- $17.9m
- Investments
- $30.0
- Employees
- 53
- Location
- Washington, DC
- Founding
- 06/1980
- Data as of
- 09/2022
- EIN
- 04-2694458
Organization Overview
Heart Rhythm Society Inc is located in Washington, DC. The organization was established in 1980. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 09/2022, Heart Rhythm Society Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heart Rhythm Society Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Heart Rhythm Society Inc generated $17.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $18.8m during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Heart Rhythm Society Inc has awarded 15 individual grants totaling $655,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO END DEATH AND SUFFERING DUE TO HEART RHYTHM DISORDERS.
Describe the Organization's Program Activity:
MEETINGS: HRS2022 IS THE SOCIETY'S ANNUAL MEETING, CONVENING THE WORLD'S MOST NOTED EXPERTS IN CARDIAC RHYTHM MANAGEMENT. THE 3-DAY EDUCATIONAL HYBRID EVENT HAS AN ATTENDANCE OF 7,700+ FROM 68 COUNTRIES AND OFFERS OVER 250 EDUCATIONAL SESSIONS COVERING TOPICS SUCH AS PACING, DEFIBRILLATION, CLINICAL ARRHYTHMIA MANAGEMENT, ABLATION, PHARMACOLOGY, GENETICS, BASIC SCIENCE, AND HEALTH POLICY. PARTICIPANTS ALSO BENEFIT FROM EXPERIENCES WITH STATE-OF-THE-ART TECHNOLOGY IN AN EXHIBIT HALL FEATURING OVER 100 COMPANIES. THE ROBUST HYBRID MODEL ACCOMMODATES LIMITATIONS IN TRAVEL FROM THE COVID-19 PANDEMIC, WITH 20% OF THE AUDIENCE CHOOSING THE DIGITAL EXPERIENCE. HRX IS THE SOCIETY'S GROUNDBREAKING CARDIOVASCULAR DIGITAL HEALTH EVENT THAT DRAWS AN INTERNATIONAL AUDIENCE OF HEALTH CARE PROFESSIONALS FOCUSED ON CARDIOVASCULAR HEALTH AND RHYTHM MANAGEMENT EMPHASIZING DIGITAL HEALTH. THE INAUGURAL EVENT FEATURED 15+ CHAMPIONS DISPLAYING THEIR BREAKTHROUGH PRODUCTS TO OUR AUDIENCE OF PHYSICIANS AND ALLIED HEALTH PROFESSIONALS. THE UNIQUE ALL-IN-ONE ROOM LAYOUT ALLOWED THE ATTENDEES AND SPONSORS TO INTERACT THROUGHOUT THE 3-DAY NON-ACE EVENT.
MARKETING, COMMUNICATIONS & MEMBERSHIP: THE SOCIETY REPRESENTS OVER 7,500 HEART RHYTHM PROFESSIONALS IN MORE THAN 90 COUNTRIES. IT FACILITATES PEER TO PEER EDUCATION, ELEVATES SCIENCE WITHIN THE FIELD OF ELECTROPHYSIOLOGY, AND RAISES AWARENESS OF HEART RHYTHM DISORDERS, INCLUDING SUDDEN CARDIAC ARREST, ATRIAL FIBRILLATION AND HEART FAILURE. HEART RHYTHM, HEART RHYTHM CASE REPORTS, CARDIOVASCULAR DIGITAL HEALTH JOURNAL AND HEART RHYTHM O2 ARE THE OFFICIAL PUBLICATIONS OF THE SOCIETY. HRSONLINE.ORG, HEARTRHYTHM.COM, UPBEAT.ORG, HEARTRHYTHM365.ORG, AND EXPERIENCEHRX.ORG ARE THE OFFICIAL WEBSITES OF THE SOCIETY.
EDUCATION: THE HEART RHYTHM SOCIETY PROVIDES LEARNING EXPERIENCES FOR HEART RHYTHM PROFESSIONALS BASED ON CLINICAL PRACTICE DATA, RESULTING IN IMPROVED PROFESSIONAL COMPETENCE, CLINICAL PRACTICE, AND CARE OF PATIENTS WITH HEART RHYTHM DISORDERS. IN THIS EFFORT, THE SOCIETY USES INNOVATIVE TEACHING METHODS AND ADVANCED TECHNOLOGIES TO PROVIDE SUPERIOR YEAR-ROUND EDUCATION INCLUDING LIVE COURSES AND DISTANCE LEARNING. THE SOCIETY AWARDS RESEARCH FELLOWSHIP SCHOLARSHIPS TO INDIVIDUALS INTERESTED IN CLINICAL AND BASIC RESEARCH RELATED TO THE LATEST ADVANCES IN ELECTROPHYSIOLOGY.
HEALTH POLICY: THE SOCIETY WORKS TO ENSURE PATIENTS ACCESS TO HIGH QUALITY HEART RHYTHM CARE. HRS DEPLOYS MULTI-FACETED ADVOCACY INITIATIVES FOR A PRODUCTIVE AND VIABLE WORK ENVIRONMENT FOR HEART RHYTHM PROFESSIONALS. THE SOCIETY PUBLISHES AND ENDORSES CLINICAL DOCUMENTS TO IMPROVE PATIENT CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia A Blake Chief Executive Officer | Officer | 40 | $578,391 |
Kenneth J Demith Chief Experience Officer | Officer | 39.8 | $274,596 |
Timothy Gregory Chief Learning Officer | Officer | 40 | $246,907 |
Eric Booth Chief Financial Officer | Officer | 40 | $242,935 |
Anne Marie Smith Vice President, Practice Improvement | 40 | $218,030 | |
David S Raimist Associate Vp, Member Eng & Data | 39 | $208,597 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
A Fassano & Co Management Services | 9/29/22 | $570,610 |
Peng-sheng Chen Management Services | 9/29/22 | $242,498 |
Coe-truman International Llc Event Management Services | 9/29/22 | $237,157 |
Freeman Event Management Services | 9/29/22 | $724,084 |
Elsevier Publishing Services | 9/29/22 | $389,580 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,382,028 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,382,028 |
| Total Program Service Revenue | $14,661,077 |
| Investment income | $419,981 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,111,450 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $278,666 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,863,726 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $261,189 |
| Grants and other assistance to domestic individuals. | $13,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $10,500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,815,222 |
| Compensation of current officers, directors, key employees. | $837,042 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,711,384 |
| Pension plan accruals and contributions | $338,213 |
| Other employee benefits | $426,600 |
| Payroll taxes | $419,347 |
| Fees for services: Management | $1,206,551 |
| Fees for services: Legal | $29,544 |
| Fees for services: Accounting | $84,932 |
| Fees for services: Lobbying | $48,913 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,337 |
| Fees for services: Other | $2,063,664 |
| Advertising and promotion | $198,377 |
| Office expenses | $780,571 |
| Information technology | $939,661 |
| Royalties | $0 |
| Occupancy | $600,319 |
| Travel | $601,569 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,853,640 |
| Interest | $1,285 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $211,709 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $18,824,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,279,265 |
| Pledges and grants receivable | $84,500 |
| Accounts receivable, net | $100,531 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $998,241 |
| Net Land, buildings, and equipment | $548,783 |
| Investments—publicly traded securities | $10,602,877 |
| Investments—other securities | $30 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $90,282 |
| Total assets | $14,704,509 |
| Accounts payable and accrued expenses | $1,793,527 |
| Grants payable | $0 |
| Deferred revenue | $1,475,468 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $930,271 |
| Total liabilities | $4,199,266 |
| Net assets without donor restrictions | $8,302,769 |
| Net assets with donor restrictions | $2,202,474 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,704,509 |
Grants Awarded
Over the last fiscal year, Heart Rhythm Society Inc has awarded $255,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Columbus, OH PURPOSE: The Kenneth M. Rosen Fellowship in Cardiac Pacing and ElectrophysiologySupported by an educational grant from Medtronic, Inc. | $50,000 |
Burlington, VT PURPOSE: The Clinical Research Award in Honor of Mark Josephson and Hein WellenSupported by an educational grant from Medtronic, Inc. | $50,000 |
Baltimore, MD PURPOSE: Wilton W. Webster Fellowship in Clinical Cardiac Catheter AblationSupported by an educational grant from Biosense Webster, Inc. | $50,000 |
Redwood City, CA PURPOSE: Wilton W. Webster Fellowship in Pediatric ElectrophysiologySupported by an educational grant from Biosense Webster, Inc. | $50,000 |
XIMIO HEALTH INC PURPOSE: HRX Pitch Competition- 1st place Award (FY22) | $30,000 |
TELEHEALTH CARE SOLUTIONS LLC PURPOSE: HRX PItch Competition 2nd place award (FY22) | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Heart Rhythm Society Inc has recieved totaling $61,000.
| Awarding Organization | Amount |
|---|---|
Pfizer Foundation Inc New York, NY PURPOSE: US - COMMUNITY GRANT SUPPORT | $50,000 |
Cardiovascular Research Foundationof Southern California Beverly Hills, CA PURPOSE: GENERAL SUPPORT | $5,500 |
Cardiovascular Research Foundationof Southern California Beverly Hills, CA PURPOSE: GENERAL SUPPORT | $5,500 |
Endowment Analysis
| Beg. Balance | $723,352 |
| Earnings | -$116,655 |
| Grants | $14,578 |
| Ending Balance | $592,119 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association For Laboratory Accreditation Frederick, MD | $14,574,609 | $21,308,917 |
Heart Rhythm Society Inc Washington, DC | $14,704,509 | $17,863,726 |
Corn Refiners Association Inc Washington, DC | $10,439,497 | $7,705,832 |
Zcash Foundation McLean, VA | $32,799,974 | $26,447,593 |
Institute For Womens Policy Research Washington, DC | $17,100,726 | $10,106,680 |
University Of Maryland Psychiatry Associates P A Baltimore, MD | $10,617,628 | $4,863,213 |
Health And Environmental Sciences Institute Washington, DC | $8,376,390 | $5,052,599 |
Board Of Certification Accreditation International Owings Mills, MD | $5,575,495 | $5,362,772 |
National Caregiving Foundation Dunkirk, MD | $1,366,084 | $4,115,754 |
Appraisal Foundation Washington, DC | $12,806,075 | $4,033,745 |
National Assn Of State Mentl Health Prog Directors Research Instit Inc Falls Church, VA | $3,898,243 | $2,738,734 |
Strategic Education Research Partnership Institute Washington, DC | $1,495,302 | $2,298,036 |