Minneapolis Heart Institute Foundation is located in Minneapolis, MN. The organization was established in 1982. According to its NTEE Classification (H43) the organization is classified as: Heart & Circulatory System Diseases & Disorders Research, under the broad grouping of Medical Research and related organizations. As of 12/2021, Minneapolis Heart Institute Foundation employed 119 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minneapolis Heart Institute Foundation 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 12/2020, Minneapolis Heart Institute Foundation generated $19.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $12.3m during the year ending 12/2020. While expenses have increased by 3.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE CARDIOVASCULAR HEALTH OF COMMUNITIES THROUGH INNOVATIVE RESEARCH AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCHMHIF HAD MORE THAN 230 RESEARCH STUDIES UNDERWAY IN 2021 AND ACTIVATED MORE STUDIES DURING THE YEAR THAN ANY OTHER YEAR FOR THE SECOND CONSECUTIVE YEAR. THE TEAM ALSO PUBLISHED MORE THAN 250 PEER-REVIEWED MANUSCRIPTS. MHIF RESEARCH PHYSICIANS, STAFF AND INTERNS PARTICIPATED IN EVERY MAJOR NATIONAL AND INTERNATIONAL CARDIOVASCULAR CONFERENCES (MANY OF WHICH WERE STILL VIRTUAL OR HYBRID IN 2021), INCLUDING 144 PODIUM PRESENTATIONS AND 79 ABSTRACTS. MHIF ACHIEVED GROWTH IN INDUSTRY-SPONSORED RESEARCH, INVESTIGATOR-INITIATED RESEARCH (DESIGNED AND LED BY MHIF RESEARCH PHYSICIANS), WITH REPRESENTATION ACROSS ALL SUBSPECIALTIES.MHIF HAS A 40-YEAR HISTORY OF WORLD-CLASS CARDIOVASCULAR RESEARCH AND EDUCATION THAT HAS PROVEN ITS POSITIVE IMPACT ON THE STANDARD OF CARE FOR PATIENTS AROUND THE WORLD. WE ENROLL HUNDREDS OF RESEARCH PARTICIPANTS EVERY YEAR, PROVIDING HOPE FOR PATIENTS THROUGH OPTIONS THAT MAY ONLY BE AVAILABLE BECAUSE OF RESEARCH. IN ADDITION TO THE TYPICAL RESEARCH PORTFOLIO, MHIF WAS THE NATIONAL COORDINATING DATA CENTER FOR THE COVID/STEMI RESEARCH (NORTH AMERICAN COVID-19 ST-SEGMENT ELEVATION MYOCARDIAL INFARCTION REGISTRY) CONTRIBUTING TO INTERNATIONAL EFFORT TO INFORM OPTIMAL CARE DURING RAPIDLY EVOLVING PANDEMIC.MHIF RESEARCH CONTINUES TO CROSS ALL PRACTICE AREAS OF CARDIOVASCULAR MEDICINE AND CARE. A FEW HIGHLIGHTS RELATED TO OUR IMPACT IN 2021: -NEARLY 4,000 VISITS WITH PATIENTS WHO HAVE HOPE AND OPTIONS THROUGH RESEARCH STUDIES-300 NEW PATIENTS ENROLLED IN RESEARCH; THERE WERE MORE THAN 1,150 ACTIVE RESEARCH PARTICIPANTS IN 2021-32 NEW RESEARCH STUDIES INITIATED, ADVANCING OPTIONS AND OUTCOMES FOR ALL PATIENTS-LED FIRST-IN-HUMAN AND FIRST-IN-WORLD RESEARCH AND CONTINUED TO DEMONSTRATE AS A TOP ENROLLER -258 PUBLISHED SCIENTIFIC PAPERS SHARING LEARNINGS FROM MHIF RESEARCH ANNUAL RESEARCH AND EDUCATION INVESTMENTS > $16+ MILLION
EDUCATIONEQUAL TO OUR COMMITMENT TO RESEARCH IS OUR DEDICATION TO SHARE THE LEARNINGS FROM RESEARCH THROUGH EDUCATION, ALLOWING FOR LOCAL, NATIONAL AND INTERNATIONAL IMPACT AS WE CHALLENGE AND ADVANCE THE STANDARD OF CARE FOR ALL PATIENTS. MHIF PROUDLY SHARED THE DETAILS OF OUR RESEARCH THROUGH 144 PRESENTATIONS OR INVITED TALKS, AND 79 ABSTRACTS PUBLISHED AT NATIONAL AND INTERNATIONAL CONFERENCES. WE PUBLISHED 258 MANUSCRIPTS, SHARING LEARNINGS FROM WORLD-CLASS CARDIOVASCULAR RESEARCH IN LEADING JOURNALS. WE ALSO OFFERED VARIOUS PUBLIC AND PROFESSIONAL EVENTS (MANY OF WHICH WERE STILL VIRTUAL) TO INCREASE AWARENESS, UNDERSTANDING AND MANAGEMENT OF VARIOUS HEART CONDITIONS. MANY OF OUR EVENTS ATTRACTED PARTICIPANTS FROM AROUND THE WORLD.OUR CARDIOVASCULAR GRAND ROUNDS PROGRAM ENSURES ATTENDEES ARE WELL-VERSED IN THE LATEST RESEARCH OUTCOMES AND EVIDENCE-BASED GUIDELINES. THROUGH 33 SESSIONS, MHIF PROVIDED PROFESSIONAL EDUCATION TO MORE THAN 3,200 HEALTH CARE PROFESSIONALS.IN THE SUMMER OF 2021, MHIF RETURNED TO AN IN-PERSON 12-WEEK CLINICAL RESEARCH INTERNSHIP PROGRAM AND WELCOMED 12 UNDERGRADUATE STUDENTS. THESE INTERNS WERE SELECTED FROM A STRONG POOL OF CANDIDATES WHO WERE PRE-MED OR PLANNING A CAREER IN MEDICINE. INTERNS WERE PAIRED WITH ALLINA HEALTH MINNEAPOLIS HEART INSTITUTE PHYSICIANS AND PARTICIPATED IN GROUNDBREAKING RESEARCH PROJECTS THEY PRESENTED AT THE END OF THE SUMMER. SINCE THIS PROGRAM BEGAN IN 2002, 215 RESEARCH INTERNS HAVE CONTRIBUTED TO 143 POSTERS AND PRESENTATIONS AT NATIONAL SCIENTIFIC CONFERENCES AND 168 PUBLICATIONS IN PEER-REVIEWED JOURNALS. IN ADDITION, OF THESE 215 INTERN ALUMNI, 55 PERCENT ARE PRACTICING PHYSICIANS, 21 PERCENT ARE IN MEDICAL SCHOOL, 13 PERCENT ARE IN HEALTH CARE-RELATED FIELDS, AND 11 PERCENT ARE IN NON-HEALTH FIELDS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kristine Fortman Chief Executive Officer | Officer | 40 | $420,296 |
Jesse Hicks Vice President-Advancement | Officer | 40 | $210,877 |
Charles Zaugg Chief Financial Officer | Officer | 40 | $180,430 |
Tamara O'black Senior Director, Quality | 40 | $172,530 | |
Kristin Lambrecht Program Director - Valve Science Center | 40 | $171,293 | |
Janet Dick Chief Talent And Strategy | 40 | $167,001 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Allina Health System Physician/cardiologists & Research Suppo | 12/30/21 | $883,570 |
Emerson Technologies I.t. Services | 12/30/21 | $222,509 |
Point Forward Communications Marketing Services | 12/30/21 | $195,718 |
Pharmaseek Financial Services Research Financial Services | 12/30/21 | $130,686 |
Advarra Inc Irb Review | 12/30/21 | $165,258 |
Statement of Revenue | |
---|---|
Federated campaigns | $18,075 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $210,512 |
All other contributions, gifts, grants, and similar amounts not included above | $13,503,958 |
Noncash contributions included in lines 1a–1f | $245,373 |
Total Revenue from Contributions, Gifts, Grants & Similar | $13,732,545 |
Total Program Service Revenue | $4,707,411 |
Investment income | $655,272 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $79,648 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $19,174,876 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $35,000 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $74,573 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,074,212 |
Compensation of current officers, directors, key employees. | $619,879 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,707,968 |
Pension plan accruals and contributions | $367,489 |
Other employee benefits | $515,920 |
Payroll taxes | $463,699 |
Fees for services: Management | $0 |
Fees for services: Legal | $44,059 |
Fees for services: Accounting | $42,901 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $60,000 |
Fees for services: Investment Management | $78,992 |
Fees for services: Other | $1,905,417 |
Advertising and promotion | $10,436 |
Office expenses | $269,152 |
Information technology | $268,120 |
Royalties | $0 |
Occupancy | $639,230 |
Travel | $112,094 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $20,835 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $256,095 |
Insurance | $86,152 |
All other expenses | $35,694 |
Total functional expenses | $12,280,946 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $515,780 |
Savings and temporary cash investments | $7,730,503 |
Pledges and grants receivable | $10,266,999 |
Accounts receivable, net | $2,359,265 |
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 | $179,085 |
Net Land, buildings, and equipment | $1,990,985 |
Investments—publicly traded securities | $27,384,987 |
Investments—other securities | $1,092,566 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $51,520,170 |
Accounts payable and accrued expenses | $1,858,395 |
Grants payable | $0 |
Deferred revenue | $314,026 |
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 | $1,000,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,044,675 |
Total liabilities | $4,217,096 |
Net assets without donor restrictions | $8,726,938 |
Net assets with donor restrictions | $38,576,136 |
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 | $51,520,170 |
Over the last fiscal year, Minneapolis Heart Institute Foundation has awarded $35,000 in support to 3 organizations.
Grant Recipient | Amount |
---|---|
Cincinnati, OH PURPOSE: RESEARCH STUDY PARTICIPATION | $15,000 |
Des Moines, IA PURPOSE: RESEARCH STUDY PARTICIPATION | $10,000 |
Springfield, IL PURPOSE: RESEARCH STUDY PARTICIPATION | $10,000 |
Over the last fiscal year, we have identified 2 grants that Minneapolis Heart Institute Foundation has recieved totaling $1,010,000.
Awarding Organization | Amount |
---|---|
Nolan Family Foundation Minneapolis, MN PURPOSE: HEALTH - GENERAL PROGRAM SUPPORT | $1,000,000 |
The Hanser Family Foundation Sanibel, FL PURPOSE: RESEARCH AND EDUCATION | $10,000 |
Beg. Balance | $21,900,155 |
Earnings | $2,568,161 |
Net Contributions | $21,872 |
Ending Balance | $23,720,058 |
Organization Name | Assets | Revenue |
---|---|---|
Minneapolis Heart Institute Foundation Minneapolis, MN | $51,520,170 | $19,174,876 |
Conquering Congenital Heart Disease Madison, WI | $163,592 | $581,914 |
Twin Cities Heart Foundation Minneapolis, MN | $927,190 | $17,456 |
Team Quinn Edina, MN | $6,549 | $0 |
Waukesha Heart Foundation Inc Waukesha, WI | $584,339 | $69,517 |
Metropolitan Cardiology Consultants Research And Education Foundation Coon Rapids, MN | $222,709 | $0 |