Portico Healthnet

Analysis

Portico Healthnet is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in August 1995, 31 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Portico Healthnet reported income of $2.7m and spending of $2.8m, spending 105% of its income. Across the 5 years on record, from August 2020 to December 2023, income grew from $1.8m to $2.7m (+51%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 178%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Portico Healthnet sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MN. Charities of a similar size with the same main cause include Shanti Orange County ($2.7m), Accessible Dental Services Inc ($2.7m) and Alternatives Pregnancy Center Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $399k (14% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $979k against liabilities of $148k, net assets of $832k. It reported 48 employees.