Minneapolis Heart Institute Foundation

Analysis

Minneapolis Heart Institute Foundation is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 1982, 44 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Minneapolis Heart Institute Foundation reported income of $14.3m and spending of $16.6m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $18.3m to $14.3m (-22%), an average of -5.9% a year. The sharpest change came in the year to December 2023, when income dropped by 39%. Over the whole period it spent 74% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Minneapolis Heart Institute Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MN. Charities of a similar size with the same main cause include Olivann ($14.3m), Central Wyoming Counseling Center ($14.3m) and Metropolitan Family Health Network Inc ($14.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $1.5m (9.2% of expenses). Other salaries and wages came to $7.8m. At year end it held assets of $66.7m against liabilities of $10.4m, net assets of $56.3m. It reported 136 employees.