Hennepin Healthcare System Inc

Analysis

Hennepin Healthcare System Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 2007, 19 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, Hennepin Healthcare System Inc reported income of $1.55bn and spending of $1.61bn, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.11bn to $1.55bn (+39%), an average of +8.7% a year. 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, Hennepin Healthcare System Inc sits at the 100th percentile: it is one of the largest 1% in its cause. 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 Miami Valley Hospital ($1.55bn), The Queens Medical Center ($1.56bn) and Childrens Hospital of Orange County ($1.55bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 7.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $6.1m (0.4% of expenses). Other salaries and wages came to $710.7m. At year end it held assets of $764.9m against liabilities of $757.2m, net assets of $7.7m. It reported 8,482 employees.