Childrens Health Care
- Assets
- $1.8b
- Revenue
- $1.1b
- Investments
- $533.8m
- Employees
- 6,230
- Location
- Minneapolis, MN
- Founding
- 05/1994
- Data as of
- 12/2021
- EIN
- 41-1754276
Organization Overview
Childrens Health Care, operating under the name Children's Hospitals & Clinics Of Mn, is located in Minneapolis, MN. The organization was established in 1994. According to its NTEE Classification (E24) the organization is classified as: Specialty Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2022, Children's Hospitals & Clinics Of MN employed 6,230 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Children's Hospitals & Clinics Of MN 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, Children's Hospitals & Clinics Of MN generated $1.1b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $940.5m during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 7 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.
Since 2014, Children's Hospitals & Clinics Of MN has awarded 122 individual grants totaling $2,783,801. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHILDREN'S HOSPITALS AND CLINICS OF MN CHAMPIONS THE SPECIAL NEEDS OF CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOSPITAL PROGRAM SERVICES: FAMILIES LOOK TO CHILDREN'S HOSPITALS AND CLINICS OF MINNESOTA FOR THE FINEST IN PEDIATRIC CARE. WITH TWO PEDIATRIC HOSPITAL FACILITIES AND 451 STAFFED BEDS, WE CHAMPION THE SPECIAL HEALTH NEEDS OF CHILDREN AND THEIR FAMILIES AND ARE COMMITTED TO PROVIDING HIGH-QUALITY, FAMILY CENTERED PEDIATRIC SERVICES. THE LEAPFROG GROUP'S ANNUAL LIST OF TOP HOSPITALS NAMED CHILDREN'S HOSPITALS AND CLINICS OF MINNESOTA'S MINNEAPOLIS AND ST. PAUL HOSPITALS AS TWO OF THE TOP TEN PEDIATRIC HOSPITALS IN THE COUNTRY FOR QUALITY AND EFFICIENCY.SEE SCHEDULE O.
EDUCATION: MANY EFFORTS TO IMPROVE THE HEALTH AND WELL-BEING OF CHILDREN AND YOUTH REQUIRE LONG-TERM INVESTMENT IN THEIR FUTURE. CHILDREN'S PROVIDES EDUCATION AND TRAINING PROGRAMS FOR PROVIDERS, HEALTH CARE STUDENTS, AND OTHER HEALTH PROFESSIONALS IN THE FOLLOWING AREAS: 1)COMMUNITY MEDICAL EDUCATION FOR COMMUNITY PHYSICIANS: DURING THE 2022 CALENDAR YEAR, CHILDREN'S PROVIDED TRAINING TO 441 AFFILIATED RESIDENTS AND FELLOWS, AND HOSTED 346 MEDICAL STUDENT & 1,036 RESIDENT AND FELLOW ROTATIONS AT CHILDREN'S MINNEAPOLIS, CHILDREN'S ST PAUL, OR BOTH LOCATIONS.SEE SCHEDULE O.
RESEARCH: CHILDREN'S HAS 383 OPEN RESEARCH STUDIES, OF WHICH 184 ARE ACTIVELY RECRUITING CLINICAL TRIALS. IN 2022 CHILDREN'S RECEIVED ABOUT $35.0 MILLION FROM INDUSTRY CONTRACTS AND FEDERAL STATE AND FOUNDATION SPONSORS. TYPES OF STUDIES AND TRIALS CONDUCTED AT CHILDREN'S ARE INVESTIGATOR-INITIATED STUDIES, EXTERNAL MULTI-CENTER TRIALS, OBSERVATIONAL STUDIES, REGISTRIES, AND SUPPORTIVE SERVICES SUCH AS CASE MANAGEMENT. CHILDREN'S HAD ONGOING RESEARCH IN EMERGENCY/TRAUMA, CYSTIC FIBROSIS, DIABETES AND ENDOCRINOLOGY, CARDIOVASCULAR AND CRITICAL CARE, PAIN AND PALLIATIVE CARE, INTEGRATIVE MEDICINE, GENETICS, CANCER AND BLOOD DISORDERS, AND NEONATOLOGY ENT AND REHAB. SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Gorelick MD President & CEO | OfficerTrustee | 46 | $1,935,831 |
Angela Goepferd MD Chief Education Officer | Trustee | 50 | $499,993 |
Gary Blackford Board Member, Vice Chair | OfficerTrustee | 1 | $0 |
Henry Chang Former Board Member Thru 2/2022 | Trustee | 1 | $0 |
Matt Bilunas Board Member, Treasurer | OfficerTrustee | 1 | $0 |
Linda Hall Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Children's Heart Clinic Pa Physician Services | 12/30/22 | $16,074,153 |
Medical Staffing Solutions Inc Nurse Staffing | 12/30/22 | $16,370,041 |
Cerner Corporation Hardware/software | 12/30/22 | $8,746,521 |
Core Staffing Nurse Staffing | 12/30/22 | $5,036,220 |
Aya Healthcare Inc Nurse Staffing | 12/30/22 | $4,601,253 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,532,984 |
| Investment income | $56,649,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$94,033 |
| Net Gain/Loss on Asset Sales | $70,713,926 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,074,349,138 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $3,118,034 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $12,966,913 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $419,975,765 |
| Pension plan accruals and contributions | $31,437,403 |
| Other employee benefits | $53,169,276 |
| Payroll taxes | $29,575,936 |
| Fees for services: Management | $2,748,224 |
| Fees for services: Legal | $399,075 |
| Fees for services: Accounting | $493,519 |
| Fees for services: Lobbying | $298,524 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,721,294 |
| Fees for services: Other | $93,061,207 |
| Advertising and promotion | $2,257,631 |
| Office expenses | $9,053,834 |
| Information technology | $16,871,989 |
| Royalties | $0 |
| Occupancy | $15,199,766 |
| Travel | $554,866 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,424,934 |
| Interest | $10,385,225 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,619,323 |
| Insurance | $4,232,787 |
| All other expenses | $0 |
| Total functional expenses | $940,528,861 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,333,658 |
| Savings and temporary cash investments | $16,115,201 |
| Pledges and grants receivable | $1,419,826 |
| Accounts receivable, net | $193,524,630 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,403,414 |
| Prepaid expenses and deferred charges | $18,550,206 |
| Investments—publicly traded securities | $590,196,233 |
| Investments—other securities | $533,808,955 |
| Investments—program-related | $30,106,973 |
| Intangible assets | $0 |
| Other assets | $161,467,846 |
| Total assets | $1,842,770,159 |
| Accounts payable and accrued expenses | $146,526,499 |
| Grants payable | $0 |
| Deferred revenue | $2,986,109 |
| Tax-exempt bond liabilities | $81,805,928 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $230,228,555 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $77,161,999 |
| Total liabilities | $538,709,090 |
| Net assets without donor restrictions | $1,216,727,840 |
| Net assets with donor restrictions | $87,333,229 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,304,061,069 |
Grants Awarded
Over the last fiscal year, Childrens Health Care has awarded $177,523 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDRENS HEARTLINK PURPOSE: GLOBAL GATHERING | $10,000 |
CHILDRENS MINNESOTA FOUNDATION PURPOSE: GALA SPONSORSHIP AND MEMORIAL | $15,725 |
GILLETTE CHILDRENS HOSP PURPOSE: GALA SPONSORSHIP | $10,000 |
MINNEAPOLIS FOUNDATION PURPOSE: BE THE CHANGE FUND | $26,000 |
MN INDIAN WOMENS RESOURCE CENTER PURPOSE: FIRST GIFT INITIATIVE | $8,000 |
PORTICO HEALTHNET PURPOSE: OUTREACH & ENROLLMENT SERVICES | $30,000 |