Healtheast Medical Research Institute

Analysis

Healtheast Medical Research Institute is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in March 1994, 32 years ago. Its declared purposes cover health care, 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, Healtheast Medical Research Institute reported income of $158.4m and spending of $189.4m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $110.5m to $158.4m (+43%), an average of +9.4% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 124% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Healtheast Medical Research Institute sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MN. Charities of a similar size with the same main cause include Hugh Chatham Memorial Hospital Inc ($158.3m), St Francis Hospital Inc ($158.5m) and Urban Health Plan Inc ($158.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Other salaries and wages came to $82.7m. At year end it held assets of $40.6m against liabilities of $229.3m, net assets of -$188.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.