Park Nicollet
- Assets
- $1.6b
- Revenue
- $1.9b
- Investments
- $1.9m
- Employees
- 0
- Location
- St Louis Park, MN
- Founding
- 06/2011
- Data as of
- 12/2022
- EIN
- 45-5023260
Organization Overview
Park Nicollet is located in St Louis Park, MN. The organization was established in 2011. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Park Nicollet 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, Park Nicollet generated $1.9b in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $1.9b during the year ending 12/2022. While expenses have increased by 3.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HEALTH AND WELL-BEING IN PARTNERSHIP WITH OUR MEMBERS, PATIENTS AND COMMUNITY
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 |
|---|---|---|---|
Jeff M Mendeloff MD Director | Trustee | 59 | $1,026,817 |
Rae Ann Williams MD Director | Trustee | 49 | $0 |
Ana Lee Director | Trustee | 2.5 | $0 |
Steven M Connelly MD Director & Exec Medical Dir | OfficerTrustee | 59 | $0 |
Brad Wozney MD Director | Trustee | 2.4 | $0 |
Sharon Pierce Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Group Health Plan Inc Administrative Services | 12/30/22 | $48,153,250 |
Favorite Healthcare Staffing Staffing | 12/30/22 | $20,138,475 |
Intereum Staffing | 12/30/22 | $12,385,889 |
Sagiliti Utility Consultant | 12/30/22 | $8,956,742 |
Rjm Construction Construction Services | 12/30/22 | $7,358,203 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,577,138 |
| Government grants | $3,606,847 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,183,985 |
| Total Program Service Revenue | $1,884,623,720 |
| Investment income | $15,836,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $545,532 |
| Net Gain/Loss on Asset Sales | $924,957 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $86,072 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,913,283,965 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $37,163 |
| 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. | $1,513,452 |
| Compensation of current officers, directors, key employees. | $436,035 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,031,583,197 |
| Pension plan accruals and contributions | $40,922,781 |
| Other employee benefits | $114,464,027 |
| Payroll taxes | $50,849,626 |
| Fees for services: Management | $505,354 |
| Fees for services: Legal | $383,445 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $77,656 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,151,294 |
| Advertising and promotion | $1,023,347 |
| Office expenses | $10,591,835 |
| Information technology | $3,586,491 |
| Royalties | $0 |
| Occupancy | $47,393,969 |
| Travel | $1,203,931 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $202,702 |
| Interest | $15,007,720 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,127,803 |
| Insurance | $18,728,318 |
| All other expenses | $11,954,980 |
| Total functional expenses | $1,865,440,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,933,539 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $192,078,475 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,177,961 |
| Prepaid expenses and deferred charges | $2,329,713 |
| Net Land, buildings, and equipment | $443,313,984 |
| Investments—publicly traded securities | $516,575,871 |
| Investments—other securities | $1,852,991 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $379,483,407 |
| Total assets | $1,554,745,941 |
| Accounts payable and accrued expenses | $107,572,741 |
| Grants payable | $0 |
| Deferred revenue | $2,506,605 |
| Tax-exempt bond liabilities | $315,363,441 |
| 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 | $29,662,679 |
| Total liabilities | $455,105,466 |
| Net assets without donor restrictions | $1,098,082,120 |
| Net assets with donor restrictions | $1,558,355 |
| 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 | $1,554,745,941 |
Grants Awarded
Over the last fiscal year, Park Nicollet has awarded $31,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
RIDEGVIEW FOUNDATION PURPOSE: PROGRAM SUPPORT | $5,000 |
SENIOR COMMUNITY SERVICES PURPOSE: PROGRAM SUPPORT | $5,000 |
EXCELSIOR LAKE MINNETONKA HISTORICAL SOCIETY PURPOSE: PROGRAM SUPPORT | $6,500 |
CANCER LEGAL LINE PURPOSE: PROGRAM SUPPORT | $5,000 |
WE ARE DIABETES PURPOSE: PROGRAM SUPPORT | $5,000 |
NATIONAL EATING DISORDERS PURPOSE: PROGRAM SUPPORT | $5,000 |