Childrens Health Care Foundation
- Assets
- $87.9m
- Revenue
- $24.3m
- Investments
- $34.5m
- Employees
- 27
- Location
- Minneapolis, MN
- Founding
- 10/1995
- Data as of
- 12/2022
- EIN
- 41-1814223
Organization Overview
Childrens Health Care Foundation is located in Minneapolis, MN. The organization was established in 1995. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 12/2022, Childrens Health Care Foundation employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Childrens Health Care 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 12/2022, Childrens Health Care Foundation generated $24.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $20.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Childrens Health Care Foundation has awarded 12 individual grants totaling $81,985,886. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION CHAMPIONS RAISING FUNDS IN SUPPORT OF SPECIAL HEALTH NEEDS OF CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM: CHILDREN'S HEALTH CARE FOUNDATION (THE FOUNDATION) SUPPORTS THE MISSION OF CHILDREN'S HEALTH CARE DBA CHILDREN'S HOSPITALS AND CLINICS (CHILDREN'S), BY OBTAINING FINANCIAL RESOURCES THAT ARE LEVERAGED TO CHAMPION THE SPECIAL NEEDS OF CHILDREN AND THEIR FAMILIES AND TO IMPROVE CHILDREN'S HEALTH BY PROVIDING HIGH-QUALITY, FAMILY CENTERED PEDIATRIC SERVICES. THE FOUNDATION IS THE FUNDRAISING ARM FOR CHILDREN'S, WHICH FORMED IN 1924, AND IS ONE OF THE LARGEST CHILDREN'S HEALTH CARE ORGANIZATIONS IN THE U.S., WITH 451 STAFFED BEDS AT OUR TWO HOSPITAL CAMPUSES IN ST PAUL AND MINNEAPOLIS. SEE SCHEDULE O.
CAPITAL: CAPITAL SUPPORT PROVIDES FUNDS TO PURCHASE EQUIPMENT AND RELATED SUPPLIES AND SERVICES, OR TO MAKE CAPITAL IMPROVEMENTS. SUCH ACTIVITIES MUST 1) ADVANCE THE MISSION OF CHILDREN'S AND 2) HAVE POTENTIAL FOR SIGNIFICANT OR LONG-TERM IMPACT.
RESEARCH: THE PURPOSE OF FUNDING RESEARCH AT THE CHILDREN'S HEALTH CARE IS TO SUPPORT A SYSTEMATIC INVESTIGATION, INCLUDING RESEARCH DEVELOPMENT, TESTING, AND EVALUATION, DESIGNED TO DEVELOP OR CONTRIBUTE TO GENERALIZED KNOWLEDGE. CURRENTLY, CHILDREN'S HAS MORE THAN 403 ONGOING RESEARCH STUDIES AND PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Gorelick MD President & CEO | OfficerTrustee | 1 | $0 |
Brenda Mccormick SVP & CFO | OfficerTrustee | 1 | $0 |
Andrew Pugh SVP Chief Legal Officer | OfficerTrustee | 1 | $0 |
Jennifer Soderholm Cdo & Foundation President | OfficerTrustee | 32 | $306,860 |
Ann Mcgarry Board Member | Trustee | 1 | $0 |
Brian Beh Board Member, Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beevents Llc Event Design | 12/30/22 | $306,110 |
Amherst H Wilder Foundation Consulting | 12/30/22 | $168,600 |
Infinity Of Minnesota Direct Mail Appeal | 12/30/22 | $146,549 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,848,129 |
| Related organizations | $0 |
| Government grants | $18,631 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,902,504 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,769,264 |
| Total Program Service Revenue | $0 |
| Investment income | $2,420,564 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,941,421 |
| Net Income from Fundraising Events | -$189,326 |
| Net Income from Gaming Activities | $14,367 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,259,448 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,326,496 |
| 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. | $1,191,915 |
| Compensation of current officers, directors, key employees. | $458,359 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,605,349 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $445,102 |
| Payroll taxes | $168,067 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $208,944 |
| Advertising and promotion | $300,350 |
| Office expenses | $206,647 |
| Information technology | $130,428 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,170 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,267 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,027 |
| Insurance | $0 |
| All other expenses | $26,212 |
| Total functional expenses | $20,384,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,556,761 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,340,015 |
| 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 | $48,080 |
| Investments—publicly traded securities | $38,517,151 |
| Investments—other securities | $34,455,057 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,174 |
| Total assets | $87,926,238 |
| Accounts payable and accrued expenses | $0 |
| 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 | $4,119,734 |
| Total liabilities | $4,119,734 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $83,806,504 |
| 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 | $87,926,238 |
Grants Awarded
Over the last fiscal year, Childrens Health Care Foundation has awarded $15,326,496 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S HEALTH CARE PURPOSE: HEALTHCARE | $15,275,029 |
WILD ABOUT CHILDREN PURPOSE: SPONSORSHIP | $12,500 |
CHILDREN'S CLINIC NETWORK PURPOSE: HEALTHCARE | $38,967 |