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Nonprofiteer
← MIAMI HEART RESEARCH INSTITUTE INC

Form 990 for tax year 2025

Filed by MIAMI HEART RESEARCH INSTITUTE INC.

Totals

Total revenue
$2,974,565
Total expenses
$2,545,709
Contributions and grants received
$65,326
Grants paid
$1,565,291
Program service revenue
$0
Investment income
$2,909,239
Other revenue
$0
Total assets, end of year
$79,333,708
Total liabilities, end of year
$684,578
Net assets or fund balances, end of year
$78,649,130
Program services expenses (Part IX)
$1,934,569
Management and general expenses
$611,140
Fundraising expenses
$0
Program service expenses (Part III)
$1,934,569

Program services were 76.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $65,326

  • 3 · Investment income

    total $2,046,655 · excluded $2,046,655

  • 7a · Gross sales of assets other than inventory

    securities $5,795,035

  • 7b · Less cost or other basis and sales expenses

    securities $4,932,451

  • 7c · Gain or loss

    securities $862,584

  • 7d · Net gain or loss

    total $862,584 · excluded $862,584

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,490,291 · program services $1,490,291

  • 2 · Grants to domestic individuals

    total $75,000 · program services $75,000

  • 5 · Compensation of officers, directors and key employees

    total $286,110 · program services $143,055 · management and general $143,055

  • 7 · Other salaries and wages

    total $128,928 · program services $64,464 · management and general $64,464

  • 8 · Pension plan contributions

    total $6,446 · program services $3,223 · management and general $3,223

  • 9 · Other employee benefits

    total $19,226 · program services $9,613 · management and general $9,613

  • 10 · Payroll taxes

    total $24,176 · program services $12,088 · management and general $12,088

  • 11b · Fees: legal

    total $3,080 · program services $1,540 · management and general $1,540

  • 11c · Fees: accounting

    total $45,030 · program services $22,515 · management and general $22,515

  • 11f · Fees: investment management

    total $254,281 · management and general $254,281

  • 11g · Fees: other

    total $37,534 · program services $18,767 · management and general $18,767

  • 12 · Advertising and promotion

    total $3,736 · program services $3,736

  • 13 · Office expenses

    total $29,778 · program services $14,889 · management and general $14,889

  • 14 · Information technology

    total $9,667 · program services $9,175 · management and general $492

  • 16 · Occupancy

    total $4,968 · program services $2,484 · management and general $2,484

  • 17 · Travel

    total $1,638 · program services $819 · management and general $819

  • 22 · Depreciation, depletion and amortization

    total $87,780 · program services $43,890 · management and general $43,890

  • 23 · Insurance

    total $38,040 · program services $19,020 · management and general $19,020

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200 · end of year $200

  • 2 · Savings and temporary cash investments

    beginning of year $9,024,002 · end of year $9,614,468

  • 4 · Accounts receivable

    beginning of year $67,051 · end of year $194,803

  • 9 · Prepaid expenses and deferred charges

    beginning of year $28,545 · end of year $28,484

  • 10a · Land, buildings and equipment: cost or other basis

    $110,983

  • 10b · Land, buildings and equipment: accumulated depreciation

    $110,983

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $63,028,221 · end of year $69,266,434

  • 15 · Other assets

    beginning of year $305,794 · end of year $229,319

  • 17 · Accounts payable and accrued expenses

    beginning of year $151,690 · end of year $14,424

  • 18 · Grants payable

    beginning of year $1,115,000 · end of year $444,943

  • 25 · Other liabilities

    beginning of year $305,508 · end of year $225,211

  • 27 · Net assets without donor restrictions

    beginning of year $70,881,615 · end of year $78,649,130

Mission and programs · 2025

Mission

MIAMI HEART RESEARCH INSTITUTE, INC. IS AN INDEPENDENT, NOT-FOR-PROFIT 501(C)(3) ORGANIZATION WITH THE MISSION TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF, FLORIDA HEART RESEARCH FOUNDATION, INC. BY FUNDRAISING AND FUNDING CARDIOVASCULAR RESEARCH, EDUCATION AND PREVENTION PROGRAMS.

Activities or mission (Part I)

TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF, FLORIDA HEART RESEARCH FOUNDATION, INC. IN ITS MISSION TO STOP HEART DISEASE THROUGH RESEARCH, EDUCATION AND PREVENTION PROGRAMS.

  • IN SUPPORT OF THE FLORIDA HEART RESEARCH FOUNDATION, INC., WE REMAIN COMMITTED TO ADVANCING CARDIOVASCULAR RESEARCH. WE ARE WELL-POSITIONED FOR A LONG AND PRODUCTIVE FUTURE IN THIS CRITICAL FIELD AND TAKE GREAT PRIDE IN FUNDING RESEARCH THAT IS BOTH MERITORIOUS AND SCIENTIFICALLY VALID.TO ACHIEVE OUR MISSION, WE MUST CONTINUE TO EXPAND OUR RESEARCH CAPABILITIES AND EDUCATIONAL INITIATIVES THROUGH COLLABORATION WITH INSTITUTIONS OF EXCELLENCE. AS PART OF THIS COMMITMENT, WE REQUIRE THAT ALL FUNDED PROJECTS PUBLISH THEIR FINDINGS IN LEADING PEER-REVIEWED JOURNALS AND PRESENT THEIR RESULTS AT NATIONAL AND INTERNATIONAL CONFERENCES AND SEMINARS. OUR ULTIMATE GOAL IS TO SUPPORT RESEARCH THAT LEADS TO SIGNIFICANT BREAKTHROUGHS - INNOVATIONS THAT IMPROVE THE DIAGNOSIS, TREATMENT, AND PREVENTION OF CARDIOVASCULAR DISEASE. ADDITIONALLY, WE REQUIRE 6-MONTH PROGRESS REPORTS, INCLUDING DETAILED BUDGETS OUTLINING HOW FUNDS HAVE BEEN UTILIZED.

    Expenses $1,859,569 · Grants $1,490,291

  • WE ACTIVELY SUPPORT EDUCATION AND PREVENTION INITIATIVES THAT IMPROVE PUBLIC HEALTH BY REDUCING HEALTH DISPARITIES AND INCREASING ACCESS TO CARE IN MEASURABLE AND MEANINGFUL WAYS. WE BELIEVE THAT HEART DISEASE CAN BE PREVENTED THROUGH A COMBINATION OF BASIC AND CLINICAL RESEARCH, ALONG WITH EDUCATION ABOUT ITS CAUSES, RISK FACTORS, AND THE IMPORTANCE OF HEALTHY LIFESTYLE CHOICES. RESEARCH DISCOVERIES BENEFIT ALL OF HUMANITY, WHILE EDUCATION EMPOWERS INDIVIDUALS TO MAKE INFORMED DECISIONS - ULTIMATELY IMPROVING HEALTH OUTCOMES AND QUALITY OF LIFE. WHILE RESEARCH IS ESSENTIAL TO THE FUTURE OF HEALTHCARE, EDUCATION AND PREVENTION ARE THE CORNERSTONES OF HEALTH TODAY. IN ADDITION TO OUR RESEARCH EFFORTS, WE AWARD ANNUAL SCHOLARSHIP GRANTS IN CARDIAC NURSING. THESE SCHOLARSHIPS HAVE RECEIVED POSITIVE RECOGNITION AND FEEDBACK FROM PARTICIPANTS, AS EVIDENCED THROUGH SURVEYS, TESTIMONIALS, AND AWARDS.

    Expenses $75,000 · Grants $75,000

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Joe Ann Batcheller

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jose Antonio Adams MD

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Oliver R Di Pietro MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tracy Towle Humphrey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mary Jean Catinchi Mella Esq

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Maria Canossa-Terris MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Elizabeth Whalen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Charles E Porter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Eric Falkenburg

    TRUSTEE (THRU 4/14/25)

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nancy R Cavalie

    EXECUTIVE DIRECTOR

    Total calculated
    $286,111
    From this org
    $260,000
    From related orgs
    $0
    Other
    $26,111
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $237,500
    Bonus
    $15,000
    Other
    $7,500
    Deferred
    $13,000
    Nontaxable benefits
    $13,111
    Filer's total
    $286,111

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
ONE INDIVIDUAL LISTED AT FORM 990, PART VII RECEIVED A BONUS DURING THE YEAR. THIS BONUS WAS ESTABLISHED IN 2025 BY THE BOARD, A FIXED $15,000 BONUS TO BE PAID IN DECEMBER OF EACH YEAR.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2025
Filed
12 August 2026
IRS schema version
2025v4.2
Source object
202622259349300047

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