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Nonprofiteer
← CHILDRENS HEALTH CARE FOUNDATION

Form 990 for tax year 2022

Filed by CHILDRENS HEALTH CARE FOUNDATION.

Totals

Total revenue
$24,259,448
Total expenses
$20,384,224
Contributions and grants received
$18,769,264
Grants paid
$15,326,496
Program service revenue
$0
Investment income
$479,143
Other revenue
$5,011,041
Total assets, end of year
$87,926,238
Total liabilities, end of year
$4,119,734
Net assets or fund balances, end of year
$83,806,504
Program services expenses (Part IX)
$15,326,496
Management and general expenses
$1,852,429
Fundraising expenses
$3,205,299
Program service expenses (Part III)
$15,326,496

Program services were 75.2% 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.

  • 1c · Fundraising events

    $2,848,129

  • 1e · Government grants (contributions)

    $18,631

  • 1f · All other contributions, gifts and grants

    $15,902,504

  • 3 · Investment income

    total $2,420,564 · excluded $2,420,564

  • 7a · Gross sales of assets other than inventory

    securities $8,842,657

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

    securities $10,784,078

  • 7c · Gain or loss

    securities -$1,941,421

  • 7d · Net gain or loss

    total -$1,941,421 · excluded -$1,941,421

  • 8a · Fundraising events: gross income

    $471,997

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

    $2,848,128

  • 8b · Fundraising events: direct expenses

    $661,323

  • 8c · Net income from fundraising events

    total -$189,326 · excluded -$189,326

  • 9a · Gaming: gross income

    $29,733

  • 9b · Gaming: direct expenses

    $15,366

  • 9c · Net income from gaming

    total $14,367 · excluded $14,367

  • 11a · Other revenue: FUNDRAISING SERV REV

    total $5,186,000 · related or exempt $5,186,000

  • 11e · Other revenue, total

    $5,186,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,326,496 · program services $15,326,496

  • 5 · Compensation of officers, directors and key employees

    total $1,191,915 · management and general $458,359 · fundraising $733,556

  • 7 · Other salaries and wages

    total $1,605,349 · management and general $283,979 · fundraising $1,321,370

  • 9 · Other employee benefits

    total $445,102 · management and general $134,293 · fundraising $310,809

  • 10 · Payroll taxes

    total $168,067 · management and general $35,516 · fundraising $132,551

  • 11g · Fees: other

    total $208,944 · management and general $101,878 · fundraising $107,066

  • 12 · Advertising and promotion

    total $300,350 · fundraising $300,350

  • 13 · Office expenses

    total $206,647 · management and general $13,645 · fundraising $193,002

  • 14 · Information technology

    total $130,428 · management and general $109,406 · fundraising $21,022

  • 17 · Travel

    total $8,170 · management and general $1,248 · fundraising $6,922

  • 19 · Conferences, conventions and meetings

    total $26,267 · fundraising $26,267

  • 22 · Depreciation, depletion and amortization

    total $27,027 · management and general $22,525 · fundraising $4,502

  • 24a · Other expenses: PURCHASED SERVICES

    total $506,756 · management and general $506,756

  • 24b · Other expenses: BANK CHARGES

    total $91,158 · management and general $91,158

  • 24c · Other expenses: OTHER EXPENSES

    total $57,803 · management and general $29,007 · fundraising $28,796

  • 24d · Other expenses: DUES & LICENSES

    total $57,533 · management and general $41,792 · fundraising $15,741

  • 24e · All other expenses

    total $26,212 · management and general $22,867 · fundraising $3,345

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,744,016 · end of year $2,556,761

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $7,724,825 · end of year $12,340,015

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $1,188,580

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

    $1,140,500

  • 10c · Land, buildings and equipment, net

    beginning of year $75,107 · end of year $48,080

  • 11 · Investments: publicly traded securities

    beginning of year $50,626,170 · end of year $38,517,151

  • 12 · Investments: other securities

    beginning of year $30,471,124 · end of year $34,455,057

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $88,001 · end of year $9,174

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,396,014 · end of year $4,119,734

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $87,333,229 · end of year $83,806,504

Mission and programs · 2022

Mission

CHILDREN'S HEALTH CARE FOUNDATION SUPPORTS THE MISSION OF CHILDREN'S HEALTH CARE BY RAISING FINANCIAL RESOURCES FROM THE COMMUNITY THAT ARE LEVERAGED TO PROVIDE HIGH-QUALITY, FAMILY CENTERED PEDIATRIC HEALTHCARE.

Activities or mission (Part I)

THE FOUNDATION CHAMPIONS RAISING FUNDS IN SUPPORT OF SPECIAL HEALTH NEEDS OF CHILDREN.

  • PROGRAM: CHILDREN'S HEALTH CARE FOUNDATION (THE FOUNDATION) SUPPORTS THE MISSION OF CHILDREN'S HEALTH CARE DBA CHILDREN'S HOSPITALS AND CLINICS (CHILDREN'S), BY OBTAINING FINANCIAL RESOURCES THAT ARE LEVERAGED TO CHAMPION THE SPECIAL NEEDS OF CHILDREN AND THEIR FAMILIES AND TO IMPROVE CHILDREN'S HEALTH BY PROVIDING HIGH-QUALITY, FAMILY CENTERED PEDIATRIC SERVICES. THE FOUNDATION IS THE FUNDRAISING ARM FOR CHILDREN'S, WHICH FORMED IN 1924, AND IS ONE OF THE LARGEST CHILDREN'S HEALTH CARE ORGANIZATIONS IN THE U.S., WITH 451 STAFFED BEDS AT OUR TWO HOSPITAL CAMPUSES IN ST PAUL AND MINNEAPOLIS. SEE SCHEDULE O.

    Expenses $13,596,846 · Grants $13,596,846 · Revenue $5,186,000

  • CAPITAL: CAPITAL SUPPORT PROVIDES FUNDS TO PURCHASE EQUIPMENT AND RELATED SUPPLIES AND SERVICES, OR TO MAKE CAPITAL IMPROVEMENTS. SUCH ACTIVITIES MUST 1) ADVANCE THE MISSION OF CHILDREN'S AND 2) HAVE POTENTIAL FOR SIGNIFICANT OR LONG-TERM IMPACT.

    Expenses $804,985 · Grants $804,985

  • RESEARCH: THE PURPOSE OF FUNDING RESEARCH AT THE CHILDREN'S HEALTH CARE IS TO SUPPORT A SYSTEMATIC INVESTIGATION, INCLUDING RESEARCH DEVELOPMENT, TESTING, AND EVALUATION, DESIGNED TO DEVELOP OR CONTRIBUTE TO GENERALIZED KNOWLEDGE. CURRENTLY, CHILDREN'S HAS MORE THAN 403 ONGOING RESEARCH STUDIES AND PROGRAMS.

    Expenses $924,665 · Grants $924,665

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MARC GORELICK MD

    PRESIDENT & CEO

    Total calculated
    $1,978,002
    From this org
    $0
    From related orgs
    $1,935,831
    Other
    $42,171
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,169,891 related
    Bonus
    $0 + $746,536 related
    Other
    $0 + $19,404 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $23,871 related
    Filer's total
    $0 + $1,978,002 related

  • BRENDA MCCORMICK

    SVP & CFO

    Total calculated
    $1,008,181
    From this org
    $0
    From related orgs
    $962,479
    Other
    $45,702
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $618,281 related
    Bonus
    $0 + $250,618 related
    Other
    $0 + $93,580 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $27,402 related
    Filer's total
    $0 + $1,008,181 related

  • ANDREW PUGH

    SVP CHIEF LEGAL OFFICER

    Total calculated
    $547,229
    From this org
    $0
    From related orgs
    $506,040
    Other
    $41,189
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $404,631 related
    Bonus
    $0 + $97,930 related
    Other
    $0 + $3,479 related
    Deferred
    $0 + $18,300 related
    Nontaxable benefits
    $0 + $22,889 related
    Filer's total
    $0 + $547,229 related

  • JENNIFER SODERHOLM

    CDO & FOUNDATION PRESIDENT

    Total calculated
    $754,464
    From this org
    $306,860
    From related orgs
    $418,016
    Other
    $29,588
    Hours/week
    32 + 18 related

    Schedule J breakdown matched by us

    Base
    $27,880 + $418,016 related
    Bonus
    $192,738
    Other
    $86,242
    Deferred
    $18,300
    Nontaxable benefits
    $11,288
    Filer's total
    $336,448 + $418,016 related

  • ANN MCGARRY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BRIAN BEH

    BOARD MEMBER, TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CHARLES MAXWELL

    BOARD MEMBER, PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CHRIS HEDBERG

    BOARD MEMBER, CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • GARY BLACKFORD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • GREG FRANKENFIELD

    FORMER BOARD MEMBER THRU 1/22

    Total calculated
    $0
    Hours/week
    1

  • ISMAT AZIZ

    FORMER BOARD MEMBER THRU 11/22

    Total calculated
    $0
    Hours/week
    1

  • JAY CAVANAGH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JERYN KONEZNY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARIA TROJE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARTY BASSETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL CIRESI

    FORMER BOARD MEMBER THRU 1/22

    Total calculated
    $0
    Hours/week
    1

  • MOLLY BIEDENFELD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MONIQUE DEWOLF

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NESTOR JARAMILLO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NICO WYROBEK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NICOLE JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • REBECCA LIEBERMAN

    BOARD MEMBER, VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • RUSSELL BECKER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SHANNON EVENSTAD

    FORMER BOARD MEMBER THRU 11/22

    Total calculated
    $0
    Hours/week
    1

  • SHARON MURPHY GARBER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STEVE HOCKETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JERRY BLACKWELL

    FORMER BOARD MEMBER THRU 2/22

    Total calculated
    $0
    Hours/week
    1

  • JACQUELINE LLOYD CUNNINGHAM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SIMONE HARDENMAN-JONES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ERIN HERMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SHANNON KING

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MIKKO KOIVU

    FORMER BOARD MEMBER THRU 5/22

    Total calculated
    $0
    Hours/week
    1

  • PAUL LAPADAT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHAD POITRA

    FORMER BOARD MEMBER THRU 5/22

    Total calculated
    $0
    Hours/week
    1

  • MARA RYAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TAWNYA STEWART

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MAY THAO-SCHUCK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RENEE TREBERG

    FORMER BOARD MEMBER THRU 5/22

    Total calculated
    $0
    Hours/week
    1

  • JAMES WEED

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • WALTER WHITE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ARCHELLE GEORGIOU

    BOARD MEMBER AS OF 5/22

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • ANNIE WATERS

    VP FOUNDATION OPERATIONS

    Total calculated
    $360,976
    From this org
    $331,984
    From related orgs
    $0
    Other
    $28,992
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $238,598
    Bonus
    $81,292
    Other
    $12,094
    Deferred
    $18,300
    Nontaxable benefits
    $10,692
    Filer's total
    $360,976

  • JOSLYN BIEVER

    VP PHILANTHROPY

    Total calculated
    $306,370
    From this org
    $284,113
    From related orgs
    $0
    Other
    $22,257
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $207,675
    Bonus
    $76,150
    Other
    $288
    Deferred
    $6,988
    Nontaxable benefits
    $15,269
    Filer's total
    $306,370

  • DANIEL LANTZ

    SR MGR GIFT ADMIN & IT

    Total calculated
    $162,910
    From this org
    $129,501
    From related orgs
    $0
    Other
    $33,409
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $113,623
    Bonus
    $15,813
    Other
    $65
    Deferred
    $8,316
    Nontaxable benefits
    $25,093
    Filer's total
    $162,910

  • TERI CANNON

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $152,805
    From this org
    $120,173
    From related orgs
    $0
    Other
    $32,632
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $113,800
    Bonus
    $6,373
    Other
    $0
    Deferred
    $7,577
    Nontaxable benefits
    $25,055
    Filer's total
    $152,805

  • JASON ZOTALIS

    SR MAJOR GIFT OFFICER

    Total calculated
    $143,898
    From this org
    $111,768
    From related orgs
    $0
    Other
    $32,130
    Hours/week
    50

  • ASHLEY LAWSON

    SR MAJOR GIFT OFFICER

    Total calculated
    $125,677
    From this org
    $111,246
    From related orgs
    $0
    Other
    $14,431
    Hours/week
    50

  • BRADY GERVAIS

    MAJOR GIFT OFFICER

    Total calculated
    $121,612
    From this org
    $108,116
    From related orgs
    $0
    Other
    $13,496
    Hours/week
    50

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE FOUNDATION RELIES ON CHILDREN'S HEALTH CARE, THE PARENT OF THE FOUNDATION, TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S CEO. CHILDREN'S HEALTH CARE USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE CEO: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART-I LINE-4B
CERTAIN EMPLOYEES OF CHILDREN'S HEALTH CARE, PARENT OF CHILDREN'S FOUNDATION, ARE PROVIDED THE OPPORTUNITY TO PARTICIPATE IN THE 457(F) DEFERRAL PLAN (THE DEFERRAL PLAN). THE DEFERRAL PLAN REQUIRES THAT THE EMPLOYEE IS A PHYSICIAN OR EXECUTIVE AND IS A .5 FTE OR MORE IN ORDER TO BE ELIGIBLE TO PARTICIPATE IN THE DEFERRAL PLAN. PAYMENTS FROM THE DEFERRAL PLAN OCCUR AT VESTING AND ARE BASED ON PERCENTAGE OF SALARY. THE FOLLOWING AMOUNTS REPRESENT THE AMOUNT PAID UNDER THE DEFERRAL PLAN IN 2022: BRENDA MCCORMICK - $83,200 JENNIFER SODERHOLM - $80,019 ANNIE WATERS - $11,312

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303189349318170

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