Sanford Health Foundation Of Northern Minnesota
- Assets
- $15.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 12/1981
- Data as of
- 12/2021
- EIN
- 41-1389317
Organization Overview
Sanford Health Foundation Of Northern Minnesota is located in Sioux Falls, SD. The organization was established in 1981. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sanford Health Foundation Of Northern Minnesota 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 12/2021, Sanford Health Foundation Of Northern Minnesota generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $324.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE PHILANTHROPY TO ADVANCE THE MISSION OF SANFORD HEALTH. 100% OF DONOR DOLLARS FUEL THE WORK OF HEALTH, HEALING AND COMFORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION INSPIRES AND FACILITATES PHILANTHROPIC INVESTMENT AND BUILDS COMMUNITY ENGAGEMENT AROUND LOCAL HEALTH-CARE RELATED PROGRAMS SERVICES AND OPERATIONS OF SANFORD HEALTH WHILE ALSO SEEKING REGIONAL, NATIONAL AND INTERNATIONAL SUPPORT FOR RESEARCH AND OTHER HEALTH INITIATIVES. SPECIFICALLY, DONATIONS HELP PROVIDE PATIENT CARE AND FAMILY SUPPORT ($117,861), EQUIPMENT AND FACILITY IMPROVEMENT ($141,638), AND HEALTHCARE AND RESEARCH PROGRAMS ($65,063).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Gassen III Trustee, President & CEO | OfficerTrustee | 0.5 | $0 |
Andy North Trustee, Secretary | OfficerTrustee | 0.5 | $0 |
Mark Paulson MD Trustee, Past Chair, Physician | OfficerTrustee | 0.5 | $0 |
Brent Teiken Trustee, Chairperson | OfficerTrustee | 0.5 | $0 |
Neil Gulsvig Trustee, Treasurer | OfficerTrustee | 0.5 | $0 |
Don Jacobs Trustee, Vice Chairperson | OfficerTrustee | 0.5 | $0 |
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 | $1,442,583 |
| Noncash contributions included in lines 1a–1f | $647,206 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,442,583 |
| Total Program Service Revenue | $0 |
| Investment income | $387,234 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $43,213 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,873,030 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $324,562 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,199 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,017 |
| Fees for services: Other | $0 |
| Advertising and promotion | $250 |
| Office expenses | $12,330 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,013 |
| Travel | $5,464 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $56 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $20 |
| All other expenses | -$724,767 |
| Total functional expenses | $324,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,977,394 |
| Pledges and grants receivable | $2,090,280 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,595,492 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $833,125 |
| Total assets | $15,496,291 |
| Accounts payable and accrued expenses | $1,098 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $1,098 |
| Net assets without donor restrictions | $10,292,375 |
| Net assets with donor restrictions | $5,202,818 |
| 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 | $15,496,291 |
Grants Awarded
Over the last fiscal year, Sanford Health Foundation Of Northern Minnesota has awarded $213,241 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Sioux Falls, SD PURPOSE: To fund general operations | $198,241 |
BEMIDJI AREA SCHOOLS PURPOSE: Anti-bullying program | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Sanford Health Foundation Of Northern Minnesota has recieved totaling $1,086,456.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: HEALTH, GENERAL | $600,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $474,975 |
The Northwest Minnesota Foundation Bemidji, MN PURPOSE: GENERAL OPERATIONS | $11,481 |
Endowment Analysis
| Beg. Balance | $304,248 |
| Net Contributions | $15,429 |
| Ending Balance | $319,677 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Benefis Health System Inc Great Falls, MT | $1,511,234,520 | $121,846,801 |
Nebraska Methodist Health System Inc Omaha, NE | $1,257,543,382 | $79,579,701 |
Glencoe Regional Health Services Glencoe, MN | $129,617,347 | $77,673,503 |
Sanford Sioux Falls, SD | $665,368,621 | $12,274,166 |
Benedictine Health System Minneapolis, MN | $153,472,496 | $53,035,199 |
Wheaton Franciscan Healthcare-Iowa Inc Waterloo, IA | $26,954,347 | $50,265,958 |
Centracare Health System-Long Prairie Long Prairie, MN | $62,306,209 | $40,776,847 |
Mayo Clinic Lake City, MN | $39,703,752 | $42,659,598 |
Memorial Community Hospital Corporation Blair, NE | $56,275,818 | $44,044,678 |
Fall River Health Services Hot Springs, SD | $41,959,122 | $31,885,192 |
Northland Pace Program Bismarck, ND | $14,541,053 | $17,955,640 |
Community Health Care Center Incorporated Great Falls, MT | $7,920,286 | $18,862,476 |