CHM income statements 2017-2019

From the April 2019 issue of Heartfelt Magazine.

Why did “Medical bills shared” increase in 2018? 

CHM staff size continues to grow in response to member growth, which increases the ministry’s capacity to share medical bills. CHM in 2017 shared 178,484 individual bills, which in 2018 increased to 267,408 bills. Monthly gift amounts, unchanged for over 11 years, are still priced adequately to satisfy all eligible medical costs submitted to CHM.

What are “Program services”?

Program services is an accounting term meaning the direct costs required to share medical bills. Sharing requires staff, workspace, computer and printing expenses, etc., also known as operating expenses. All CHM operating expenses are allocated using generally accepted accounting principles and are subject to an annual, independent audit.

What are “Administrative expenses”?

Expenses not directly related to medical bill sharing are called administrative expenses. Some examples are human resources and management, support staff (such as Information Technology) and professional fees (legal, accounting, etc.)

CHM’s combined program and administrative expenses consistently have been under seven percent.

2017
  • Total revenue: $339,535,591
  • Medical bills shared: $257,387,581 (76%)
  • Program services: $19,113,131 (6%)
  • Administrative expenses: $1,937,779 (<1%)
  • Change in net assets: $61,097,100 (18%)

2018
  • Total revenue: $444,686,847 
  • Medical bills shared: $388,772,857 (87%)
  • Program services: $22,701,008 (5%)
  • Administrative expenses: $2,280,657 (<1%)
  • Change in net assets: $30,932,325 (7%)

2019 (budget)
  • Total revenue: $506,700,000 
  • Medical bills shared: $460,200,000 (91%)
  • Program services: $28,672,478 (6%)
  • Administrative expenses: $3,205,522 (<1%)
  • Change in net assets: $14,622,000 (3%)
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