Regions Hospital Foundation
- Assets
- $38.3m
- Revenue
- $23.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 01/1998
- Data as of
- 12/2021
- EIN
- 41-1888902
Organization Overview
Regions Hospital Foundation is located in Minneapolis, MN. The organization was established in 1998. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., 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. Regions Hospital 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 12/2021, Regions Hospital Foundation generated $23.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.1% each year . All expenses for the organization totaled $13.3m during the year ending 12/2021. While expenses have increased by 10.3% 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, Regions Hospital Foundation has awarded 26 individual grants totaling $24,796,828. 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
OUR MISSION IS TO ADVOCATE & DEVELOP AWARENESS, BUILD PARTNERSHIPS, AND RAISE CONTRIBUTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O - EXEMPT PURPOSE AND ACHIEVEMENTS FOR A DESCRIPTION OF PROGRAM SERVICE ACCOMPLISHMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Keenan Director | OfficerTrustee | 1 | $0 |
Tom Kingston Director & Chair | OfficerTrustee | 0.6 | $0 |
Matt Layman MD Director | OfficerTrustee | 0.2 | $0 |
Linda Hanson Director & Vice Chair | OfficerTrustee | 0.9 | $0 |
Anthony Grundhauser Director And Vice President | OfficerTrustee | 39.5 | $0 |
Megan M Remark President & Director | Officer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Group Health Plan Inc Staffing | 12/30/21 | $2,721,356 |
Regions Hospital Staffing | 12/30/21 | $930,747 |
Fairview Foundation Consultants | 12/30/21 | $115,915 |
Rhsc Inc Staffing | 12/30/21 | $127,801 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $547,078 |
| Government grants | $111,127 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,386,689 |
| Noncash contributions included in lines 1a–1f | $572,873 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,044,894 |
| Total Program Service Revenue | $0 |
| Investment income | $633,814 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,671,507 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,350,215 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,517,143 |
| Grants and other assistance to domestic individuals. | $53,267 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,329,131 |
| Advertising and promotion | $222,953 |
| Office expenses | $150,232 |
| Information technology | $130,562 |
| Royalties | $0 |
| Occupancy | $53,139 |
| Travel | $48,964 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,792 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $13,281,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $861,678 |
| Savings and temporary cash investments | $8,416,886 |
| Pledges and grants receivable | $2,456,793 |
| Accounts receivable, net | $38,189 |
| 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 | $16,527 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $26,476,975 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $38,267,048 |
| Accounts payable and accrued expenses | $4,518,727 |
| Grants payable | $0 |
| Deferred revenue | $664,024 |
| 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 | $5,182,751 |
| Net assets without donor restrictions | $7,819,297 |
| Net assets with donor restrictions | $25,265,000 |
| 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 | $38,267,048 |
Grants Awarded
Over the last fiscal year, Regions Hospital Foundation has awarded $6,965,371 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: CAPITAL EXPENDITURES ED EXPANSION | $5,578,476 |
Minneapolis, MN PURPOSE: PROGRAM SUPPORT | $1,386,895 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Regions Hospital Foundation has recieved totaling $1,225,410.
| Awarding Organization | Amount |
|---|---|
Regions Hospital Minneapolis, MN PURPOSE: PROGRAM SUPPORT | $399,996 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $226,948 |
Group Health Plan Inc Minneapolis, MN PURPOSE: PROGRAM SUPPORT | $147,082 |
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, HEALTH | $131,913 |
Americas Charities Chantilly, VA PURPOSE: GENERAL SUPPORT | $101,916 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $56,287 |
Endowment Analysis
| Beg. Balance | $2,409,870 |
| Earnings | $233,351 |
| Net Contributions | $145,147 |
| Other Expense | $38,765 |
| Ending Balance | $2,749,603 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Horizon Home Care & Hospice Inc Milwaukee, WI | $36,563,484 | $49,942,124 |
Fraser Child And Family Center Minneapolis, MN | $19,831,778 | $44,385,938 |
Ucare Health Inc Minneapolis, MN | $37,509,424 | $41,308,525 |
Siouxland Pace Inc Sioux City, IA | $9,694,678 | $21,496,656 |
Regions Hospital Foundation Minneapolis, MN | $38,267,048 | $23,350,215 |
Rural Health Resource Center Duluth, MN | $3,768,085 | $11,820,757 |
Regional Enterprises Inc Ashland, WI | $4,269,557 | $6,977,377 |
Community Memorial Healthcenter Association Hartley, IA | $12,490,271 | $6,250,089 |
Eh Services Inc Saint Paul, MN | $3,146,077 | $4,831,668 |
South Dakota Lions Eye And Tissue Bank Inc Sioux Falls, SD | $6,657,515 | $6,770,090 |
Brown County Oral Healthpartnership Inc Green Bay, WI | $5,527,051 | $5,935,220 |
Independent Living Choices Sioux Falls, SD | $4,914,691 | $4,172,485 |