Massachusetts-Rhode Island Scholarships

Joseph D. Clancy, CPA, HFMA
Scholarship Program

Background:

The Board of the Massachusetts-Rhode Island Chapter of the Healthcare Financial Management Association (HFMA) is honoring the lifetime service of Joseph D. Clancy, CPA, FHFMA by naming the Chapter’s Scholarship Program after him. Joe served as Chapter President in 1961-1962 and he was the first person from the Massachusetts Chapter to be the HFMA National Chairman, 1967-1968. He was the recipient of the prestigious HFMA Frederick C. Morgan Award in 1972 which is awarded by the National HFMA for outstanding individual achievement.

It is fitting that the Scholarship Program be named for Joe because of the significant number of Northeastern University Cooperative education students that Joe mentored during his long tenure as Chief Financial Officer of Lynn Hospital in Massachusetts. Many of these students went on to distinguished hospital careers with a significant number progressing to a chief financial officer role.

What is the program?

The Joseph D. Clancy, CPA, FHFMA Scholarship Program includes two types of scholarships:

1. For Chapter Members who wish to continue their formal education in healthcare financial management.
2. For Chapter Members who seek assistance in covering the cost of study guide materials required to pursue completion of one of the HFMA certification programs.

The successful recipient will receive an award of the lesser of $1,000 or the cost of a specific course (including course-related fees and books) less available employer tuition reimbursement for the course, or the cost of HFMA published study guide materials.

Who is eligible to participate?

Any Massachusetts-Rhode Island Chapter Member in good standing is eligible to apply for the applicable scholarship.  Eligible recipients must be:

1. Enrolled in an accredited college or university’s bachelors or master’s program;
2. Registered in a course at an accredited college or university;
3. Enrolled in one of the HFMA certification programs and seeking funds to cover the costs of the national HFMA study guide.

Preference will be given to applicants concentrating in finance and accounting degrees. However applicants who are pursuing education in non-financial health care topics such as health care administration or public health are also encouraged to apply for the scholarship.

When is the scholarship awarded? 

Applications must be received by the Scholarship Committee Chair by September 30^th for Fall Semester Courses and January 31^st for Spring Semester Courses. Summer courses are not eligible for the scholarship award at this time. Applications will be considered by the Scholarship Committee, which will base its recommendations for awards on availability of scholarship funds, the Member’s service to the Chapter, potential benefit to be received by Member, financial need, and prior academic achievement.  Scholarships are subject to final award approval by the Chapter Board of Directors.

What is the application and reimbursement process? 

1. Candidates should complete and submit the Application Form provided below;
2. The application should include a written statement in item #8 below;
3. The application will be submitted to Amy Poole, Chapter Manager
4. Candidates will be notified of the final decision within 30-60 days of receipt of the application.

Payment will be made to award recipients upon final completion of course and demonstration of a grade of C or better and submission of a completed IRS form W-9.  In the case of an advancement certification scholarship the payment will be made upon demonstration that the recipient passed the applicable exam. Please CLICK HERE for more information and to apply to the HFMA MA-RI Joseph D. Clancy, CPA, FHFMA Scholarship.

Questions on this program should be directed to
Amy Poole, Chapter Manager via e-mail to 
[email protected] or telephone 781-647-4422.