Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $27,500

• 1d · Related organizations

  $1,328,776

• 1f · All other contributions, gifts and grants

  $17,509,454

• 1g · Noncash contributions included above

  $356,453

• 2a · Program service revenue: FEES

  total $167,450 · related or exempt $167,450

• 2b · Program service revenue: COMMISSIONS

  total $107,797 · related or exempt $107,797

• 3 · Investment income

  total $1,318,883 · excluded $1,318,883

• 7a · Gross sales of assets other than inventory

  securities $224

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

  securities $0

• 7c · Gain or loss

  securities $224

• 7d · Net gain or loss

  total $224 · excluded $224

• 8a · Fundraising events: gross income

  $129,305

• 8a · Fundraising events: contributions included on line 1c

  $27,500

• 8b · Fundraising events: direct expenses

  $67,479

• 8c · Net income from fundraising events

  total $61,826 · excluded $61,826

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $1,164 · excluded $1,164

• 11e · Other revenue, total

  $1,164

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $4,772,838 · program services $4,772,838

• 7 · Other salaries and wages

  total $2,605,573 · program services $256,210 · management and general $905,015 · fundraising $1,444,348

• 8 · Pension plan contributions

  total $190,397 · program services $18,722 · management and general $66,132 · fundraising $105,543

• 9 · Other employee benefits

  total $355,273 · program services $34,934 · management and general $123,400 · fundraising $196,939

• 10 · Payroll taxes

  total $191,833 · program services $18,863 · management and general $66,631 · fundraising $106,339

• 11g · Fees: other

  total $801,686 · program services $503,930 · management and general $114,701 · fundraising $183,055

• 12 · Advertising and promotion

  total $23,462 · program services $14,748 · management and general $3,357 · fundraising $5,357

• 13 · Office expenses

  total $49,175 · program services $30,911 · management and general $7,035 · fundraising $11,229

• 14 · Information technology

  total $482 · program services $303 · management and general $69 · fundraising $110

• 16 · Occupancy

  total $29,383 · program services $18,470 · management and general $4,204 · fundraising $6,709

• 17 · Travel

  total $166,806 · program services $104,852 · management and general $23,866 · fundraising $38,088

• 19 · Conferences, conventions and meetings

  total $141,422 · program services $88,896 · management and general $20,234 · fundraising $32,292

• 23 · Insurance

  total $201 · program services $126 · management and general $29 · fundraising $46

• 24a · Other expenses: PROGRAM SUPPLIES

  total $216,971 · program services $111,323 · management and general $40,697 · fundraising $64,951

• 24b · Other expenses: STAFF DEVELOPMENT

  total $103,264 · program services $64,911 · management and general $14,774 · fundraising $23,579

• 24c · Other expenses: REPAIRS AND MAINTENANCE

  total $56,651 · program services $35,610 · management and general $8,105 · fundraising $12,936

• 24d · Other expenses: DUES AND SUBSCRIPTIONS

  total $37,536 · program services $23,595 · management and general $5,370 · fundraising $8,571

• 24e · All other expenses

  total $16,661 · program services $10,474 · management and general $2,383 · fundraising $3,804

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 3 · Pledges and grants receivable

  beginning of year $734,698 · end of year $9,784,433

• 4 · Accounts receivable

  beginning of year $86,700 · end of year $105,512

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

  $19,257

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

  $19,257

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $17,632,916 · end of year $19,616,423

• 12 · Investments: other securities

  beginning of year $23,212,117 · end of year $23,090,386

• 15 · Other assets

  beginning of year $1,161,362 · end of year $1,715,988

• 17 · Accounts payable and accrued expenses

  beginning of year $76,282 · end of year $90,415

• 18 · Grants payable

  beginning of year $756,028 · end of year $446,901

• 25 · Other liabilities

  beginning of year $399,881 · end of year $38,888

• 27 · Net assets without donor restrictions

  beginning of year $2,200,630 · end of year $2,184,815

• 28 · Net assets with donor restrictions

  beginning of year $39,394,972 · end of year $51,551,723

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION IS DETERMINED BY HENNEPIN HEALTHCARE SYSTEM, INC. (HHS) - HENNEPIN HEALTH FOUNDATION (HHF) HAS NO EMPLOYEES. HHS, THE SOLE MEMBER OF HHF, DETERMINES THE COMPENSATION OF THE PRESIDENT, OTHER HHF OFFICERS AND BOARD MEMBERS, AND ALL HHF EMPLOYEES. THE HHS BOARD OF DIRECTORS ENGAGED AN INDEPENDENT CONSULTING FIRM TO EVALUATE THE BASE AND TOTAL CASH COMPENSATION FOR THE CEO AND OTHER QUALIFIED EXECUTIVES. THE FIRM GATHERED COMPARABILITY DATA ACCORDING TO THE ASSUMPTIONS OUTLINED IN HHS COMPENSATION PHILOSOPHY, INCLUDING DATA RELEVANT TO OTHER ACADEMIC AND PUBLIC HOSPITALS. THE DATA TOOK INTO CONSIDERATION THE SCOPE OF THE COMPARISON GROUP, INCLUDING FACTORS SUCH AS REVENUE, EMPLOYEE SIZE AND GEOGRAPHIC REGION. THE PRESIDENT OF HENNEPIN HEALTH FOUNDATION IS ALSO THE VICE PRESIDENT OF PHILANTHROPY FOR HHS; THEREFORE, HER COMPENSATION WAS DETERMINED USING THIS METHOD. HHF HAS NO OTHER COMPENSATED OFFICERS OR KEY EMPLOYEES, HHS USED THE FOLLOWING TO ESTABLISH THE COMPENSATION OF HHF'S PRESIDENT: 1. COMPENSATION COMMITTEE 2. COMPENSATION SURVEY OR STUDY 3. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE 4. INDEPENDENT COMPENSATION CONSULTANTS.