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 12/2023, Minneapolis Heart Institute Foundation employed 136 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 12/2023, Minneapolis Heart Institute Foundation generated $14.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $16.6m during the year ending 12/2023. While expenses have increased by 6.6% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE CARDIOVASCULAR HEALTH OF INDIVIDUALS AND COMMUNITIES THROUGH RESEARCH & EDUCATION.
Describe the Organization's Program Activity:
2023 MHIF RESEARCH ACCOMPLISHMENTS- MHIF RESEARCH WAS SIMULTANEOUSLY PUBLISHED IN THE NEW YORK TIMES AND NEW ENGLAND JOURNAL OF MEDICINE ALONG WITH ITS OPPORTUNITY TO BE ON ONE OF THE LARGEST STAGES FOR CARDIOVASCULAR RESEARCH AT THE 2023 AMERICAN COLLEGE OF CARDIOLOGY. DR. PAUL SORAJJA PRESENTED PRIMARY OUTCOMES FROM THE TRILUMINATE PIVOTAL CLINICAL TRIAL EVALUATING THE TRICLIP (MANUFACTURED BY ABBOTT) FOR TRISCUSPID REGURGITATION. DR. SORAJJA IS THE ROGER L. AND LYNN C. HEADRICK FAMILY CHAIR FOR THE MHIF VALVE SCIENCE CENTER AND NATIONAL PRINCIPAL INVESTIGATOR FOR THE TRILUMINATE PIVOTAL TRIAL. MHIF WAS THE TOP ENROLLER (ENROLLING THE FIRST AND LARGEST NUMBER OF PATIENTS) OF ALL 75 CLINICAL SITES PARTICIPATING IN THIS RESEARCH TRIAL IN THE UNITED STATES, CANADA AND EUROPE. MHIF LED THE WAY AS THE FIRST TO PROVIDE THIS TECHNOLOGY TO A PATIENT AS PART OF EARLY RESEARCH IN 2017 AND COMPLETED THE FIRST-IN-THE-WORLD ENROLLMENT IN THE TRILUMINATE PIVOTAL TRIAL IN SEPTEMBER 2019.- MHIF CONTRIBUTED TO RESEARCH THAT WAS SUBMITTED TO THE U.S. FOOD AND DRUG ADMINISTRATION (FDA), EARNING APPROVAL OF A NEW TREATMENT FOR PATIENTS LIVING WITH HYPERTENSION. RECOR MEDICAL'S PARADISE ULTRASOUND RENAL DENERVATION IS A FIRST-OF-ITS-KIND ULTRASOUND-BASED RENAL DENERVATION TECHNOLOGY DESIGNED TO LOWER BLOOD PRESSURE BY DENERVATING OVERACTIVE SYMPATHETIC NERVES SURROUNDING THE RENAL ARTERIES. MHIF HAS BEEN INVOLVED IN THE RESEARCH OF THIS TECHNOLOGY SINCE 2016 AND WAS THE HIGHEST ENROLLER OF PATIENTS IN THE U.S. (SECOND HIGHEST IN THE WORLD) OF ALL THE CLINICAL SITES THAT PARTICIPATED IN THE RESEARCH THAT WAS PART OF THE FDA REVIEW.- 350+ NEW PATIENTS ENROLLED IN RESEARCH; 220+ ACTIVE STUDIES WITH 2200+ PATIENTS AT ANY GIVEN TIME- 3,000+ VISITS WITH PATIENTS WHO HAVE HOPE AND OPTIONS THROUGH RESEARCH - 60,000+ DOWNLOADS FROM PHYSICIANS AROUND THE WORLD FOR THE SUITE OF MHIF DIGITAL APPLICATIONS AVAILABLE SHARING EXPERTISE AND CLINICAL INSIGHTS IN HEART VALVE AND CORONARY ARTERY DISEASE - 650+ RECORD HIGH OF PUBLICATIONS, ABSTRACTS, PODIUM PRESENTATIONS AND INVITED TALKS AT INTERNATIONAL CONFERENCES- 8 MHIF INTERNATIONAL SCHOLARS CONTRIBUTED TO ADVANCING RESEARCH; THESE SCHOLARS ARE PRACTICING MEDICAL DOCTORS FROM AROUND THE WORLD WHO COME TO MHIF TO PARTICIPATE IN RESEARCH IN PARTNERSHIP WITH LEADING MHIF RESEARCH PHYSICIANS- FORMED NEW RELATIONSHIPS IN THE COMMUNITY TO CONTRIBUTE TO CHANGE AROUND HEALTH EQUITY AND ACCESS TO CARE- 11,000+ HOURS OF PROFESSIONAL AND COMMUNITY EDUCATION EACH YEAR REACHING 4,000+ ATTENDEES- 6,000 MEMBERS OF THE COMMUNITY GATHERED AT THE MINNEAPOLIS ARMORY TO CELEBRATE THE IMPACT OF LIFESAVING RESEARCH AS PART OF THE ANNUAL HEART360 CONCERT FOR WORLD-CLASS HEART RESEARCH.
2023 MHIF EDUCATION HIGHLIGHTSEQUAL 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 650+ PUBLICATIONS, PRESENTATIONS AND ABSTRACTS AT NATIONAL AND INTERNATIONAL CONFERENCES. WE PUBLISHED 264 MANUSCRIPTS IN PEER-REVIEWED JOURNALS, SHARING LEARNINGS FROM WORLD-CLASS CARDIOVASCULAR RESEARCH. 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 32 SESSIONS FEATURING 53 SPEAKERS, MHIF PROVIDED PROFESSIONAL EDUCATION TO MORE THAN 3,100 HEALTH CARE PROFESSIONALS. THESE ACCREDITED EDUCATION ACTIVITIES PROVIDE PHYSICIANS AND OTHER HEALTH CARE PROVIDERS THE OPPORTUNITY TO REVIEW AND DISCUSS THE LATEST DEVELOPMENTS IN CARDIOVASCULAR CARE EVERY MONDAY MORNING DURING OUR GRAND ROUNDS SEASON (SEPTEMBER MAY).IN 2023, MHIF HOSTED 11 INTERNS FROM AROUND THE COUNTRY WHO CONTRIBUTED TO 11 DIFFERENT GROUNDBREAKING RESEARCH PROJECTS. THANKS TO THE GENEROUS SUPPORT FROM INDIVIDUAL DONORS, MHIF OFFERS AN EXCEPTIONAL CLINICAL RESEARCH INTERNSHIP PROGRAM TAILORED FOR UNDERGRADUATE STUDENTS ASPIRING FOR A CAREER IN MEDICINE OR PURSUING A PRE-MED TRACK. THIS DISTINCTIVE LEARNING OPPORTUNITY INVOLVES MATCHING INTERNS WITH PHYSICIAN MENTORS WHO OVERSEE THE INVESTIGATOR-INITIATATED RESEARCH PROJECTS. OTHER ASPECTS OF THE INTERNSHIP INCLUDE SHADOWING HOSPITAL ROTATIONS, ATTENDING INSIGHTFUL FIELD TRIPS, ENGAGING IN LUNCH-AND-LEARN SESSIONS WITH ALLINA HEALTH MINNEAPOLIS HEART INSTITUTE PHYSICIANS, PRESENTING THEIR RESEARCH FINDINGS AT AN OPEN-HOUSE, POSTER SESSION. NUMEROUS RESEARCH ENDEAVORS CULMINATE IN INTERNS POTENTIALLY CO-AUTHORING ARTICLES PUBLISHED IN RENOWNED SCIENTIFIC JOURNALS. ADDITIONALLY, SELECT INTERNS MAY HAVE THE CHANCE TO SHOWCASE THEIR WORK AT NATIONAL CARDIOVASCULAR CONFERENCES.SINCE THE INCEPTION OF THE INTERNSHIP PROGRAM, 235 CLINICAL RESEARCH INTERNS HAVE CONTRIBUTED TO 223 POSTERS AND PRESENTATIONS AT NATIONAL SCIENTIFIC SESSIONS, 219 PUBLICATIONS IN PEER-REVIEWED JOURNALS, AND 59% OF FORMER INTERNS ARE NOW PRACTICING PHYSICIANS!
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jeffrey Steinle Chair | OfficerTrustee | 5 | $0 |
Thomas Gunderson Past Chair | OfficerTrustee | 5 | $0 |
Greg Graves Treasurer | OfficerTrustee | 2 | $0 |
Ben Bache-Wiig MD Director | Trustee | 1 | $0 |
Mosi Bennett MD Director | Trustee | 0.5 | $0 |
Craig Bentdahl Director | Trustee | 1 | $0 |
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 |
Advarra Inc Irb Review | 12/30/21 | $165,258 |
Pharmaseek Financial Services Research Financial Services | 12/30/21 | $130,686 |
Statement of Revenue | |
---|---|
Federated campaigns | $10,109 |
Membership dues | $0 |
Fundraising events | $432,784 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $6,933,612 |
Noncash contributions included in lines 1a–1f | $768,100 |
Total Revenue from Contributions, Gifts, Grants & Similar | $7,376,505 |
Total Program Service Revenue | $5,033,714 |
Investment income | $1,377,795 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $957,033 |
Net Income from Fundraising Events | -$408,580 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $14,336,467 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $14,500 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $80,808 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,528,456 |
Compensation of current officers, directors, key employees. | $724,057 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $7,822,012 |
Pension plan accruals and contributions | $456,388 |
Other employee benefits | $736,298 |
Payroll taxes | $636,815 |
Fees for services: Management | $0 |
Fees for services: Legal | $69,284 |
Fees for services: Accounting | $63,919 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $86,313 |
Fees for services: Other | $2,148,553 |
Advertising and promotion | $6,082 |
Office expenses | $239,576 |
Information technology | $408,975 |
Royalties | $0 |
Occupancy | $943,122 |
Travel | $532,893 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $281,779 |
Insurance | $135,775 |
All other expenses | $4,607 |
Total functional expenses | $16,550,155 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,759,101 |
Savings and temporary cash investments | $11,641,047 |
Pledges and grants receivable | $8,284,600 |
Accounts receivable, net | $2,231,638 |
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 | $342,669 |
Net Land, buildings, and equipment | $1,785,468 |
Investments—publicly traded securities | $30,764,995 |
Investments—other securities | $1,779,589 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $8,142,390 |
Total assets | $66,731,497 |
Accounts payable and accrued expenses | $2,214,429 |
Grants payable | $0 |
Deferred revenue | $87,661 |
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 | $8,094,356 |
Total liabilities | $10,396,446 |
Net assets without donor restrictions | $12,695,578 |
Net assets with donor restrictions | $43,639,473 |
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 | $66,731,497 |
Over the last fiscal year, Minneapolis Heart Institute Foundation has awarded $35,000 in support to 3 organizations.
Grant Recipient | Amount |
---|---|
THE CHRIST HOSPITAL PURPOSE: RESEARCH STUDY PARTICIPATION | $15,000 |
PRAIRIE EDUCATION AND RESEARCH COOPERATIVE PURPOSE: RESEARCH STUDY PARTICIPATION | $10,000 |
CATHOLIC HEALTH INITIATIVES - IOWA CORP PURPOSE: RESEARCH STUDY PARTICIPATION | $10,000 |
Organization Name | Assets | Revenue |
---|---|---|
Minneapolis Heart Institute Foundation Minneapolis, MN | $66,731,497 | $14,336,467 |
Conquering Congenital Heart Disease Middleton, WI | $116,383 | $645,405 |
Fetal Heart Society Inc Roseville, MN | $297,294 | $221,614 |
Twin Cities Heart Foundation Minneapolis, MN | $767,921 | $35,668 |
Metropolitan Cardiology Consultants Research And Education Foundation Coon Rapids, MN | $138,172 | $0 |
Team Quinn Edina, MN | $6,549 | $0 |
Waukesha Heart Foundation Inc Waukesha, WI | $584,339 | $69,517 |