Regions Hospital Foundation
- Assets
- $36.6m
- Revenue
- $11.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 01/1998
- Data as of
- 12/2022
- 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 12/2022, Regions Hospital Foundation generated $11.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $6.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Regions Hospital Foundation has awarded 28 individual grants totaling $28,034,185. 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
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 |
|---|---|---|---|
Robert Befidi Director | Trustee | 0.25 | $0 |
William H Frey MD Director | Trustee | 0.5 | $0 |
Leaetta Hough PHD Director (jan-Mar) | Trustee | 0.25 | $0 |
Duchess Harris JD PHD Director | Trustee | 0.21 | $0 |
Tom Kingston Director | Trustee | 0.25 | $0 |
Katie Kelley Director & Secretary | OfficerTrustee | 0.21 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Regions Hospital Staffing | 12/30/22 | $709,263 |
Group Health Plan Inc Staffing | 12/30/22 | $287,777 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $170,914 |
| Government grants | $107,950 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,663,571 |
| Noncash contributions included in lines 1a–1f | $8,549 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,942,435 |
| Total Program Service Revenue | $0 |
| Investment income | $873,692 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$434,425 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,382,226 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,266,871 |
| Grants and other assistance to domestic individuals. | $76,764 |
| 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 | $2,061,974 |
| Advertising and promotion | $260,088 |
| Office expenses | $164,526 |
| Information technology | $78,391 |
| Royalties | $0 |
| Occupancy | $179,369 |
| Travel | $70,718 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,545 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,818,936 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $333,194 |
| Savings and temporary cash investments | $11,108,833 |
| Pledges and grants receivable | $2,375,222 |
| 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 | $5,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $22,757,854 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,580,603 |
| Accounts payable and accrued expenses | $2,613,555 |
| Grants payable | $0 |
| Deferred revenue | $410,277 |
| 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 | $3,023,832 |
| Net assets without donor restrictions | $8,291,771 |
| 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 | $36,580,603 |
Grants Awarded
Over the last fiscal year, Regions Hospital Foundation has awarded $3,237,357 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
REGIONS HOSPITAL PURPOSE: CAPITAL EXPENDITURES ED EXPANSION | $2,000,000 |
HEALTHPARTNERS INSTITUTE PURPOSE: PROGRAM SUPPORT | $1,237,357 |