ABBOTT NORTHWESTERN HOSPITAL FOUND… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

TROY LINDLOFF

Phone

6122620660

Tax Period

2022-01-01 to 2022-04-01

ABBOTT NORTHWESTERN HOSPITAL FOUNDATION, founded in 2001, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2022. Revenue fell 92% from the prior year — a significant decline worth monitoring.

Mission

THE MISSION OF ABBOTT NORTHWESTERN HOSPITAL FOUNDATION IS TO RAISE, STEWARD AND DISBURSE FUNDS FOR THE BENEFIT OF ABBOTT NORTHWESTERN HOSPITAL AND THE COMMUNITIES IT SERVES. THE FOUNDATION IS A SEPARATE NOT-FOR-PROFIT ENTITY DEDICATED TO SUPPORTING THE HOSPITAL AND IS GOVERNED BY A SEPARATE BOARD. ABBOTT NORTHWESTERN HOSPITAL IS THE TWIN CITIES' LARGEST NOT-FOR-PROFIT HOSPITAL. EACH YEAR, THE HOSPITAL PROVIDES COMPREHENSIVE HEALTH CARE FOR MORE THAN 200,000 PATIENTS AND THEIR FAMILIES FROM THE TWIN CITIES AREA AND THROUGHOUT THE UPPER MIDWEST. THE HOSPITAL IS ROUTINELY NAMED IN NATIONAL RANKINGS OF THE NATION'S BEST HOSPITALS, INCLUDING BEING NAMED IN U.S. NEWS AND WORLD REPORT'S "AMERICA'S TOP 50 HOSPITALS" LIST FOR TEN CONSECUTIVE YEARS. ABBOTT NORTHWESTERN HOSPITAL IS A PART OF ALLINA HEALTH SYSTEM, A FAMILY OF HOSPITALS, CLINICS AND CARE SERVICES.

Program Service Accomplishments

Program 1

Expenses: $748,026

OPERATIONS: - RESIDENTS, NURSES AND STAFF EDUCATION, TRAINING, AND CERTIFICATION TO ENHANCE THEIR PATIENT CARE SKILLS. - OPERATIONAL SUPPORT FOR THE VIRGINIA PIPER CANCER INSTITUTE. - EMERGENCY...

OPERATIONS: - RESIDENTS, NURSES AND STAFF EDUCATION, TRAINING, AND CERTIFICATION TO ENHANCE THEIR PATIENT CARE SKILLS. - OPERATIONAL SUPPORT FOR THE VIRGINIA PIPER CANCER INSTITUTE. - EMERGENCY FINANCIAL ASSISTANCE FOR PATIENTS TO HELP WITH MEDICAL AND EVERYDAY EXPENSES. - EQUIPMENT FUNDING FOR PATIENT NAIL CARE, SAFETY RESTRAINTS AND ROOM MAINTENANCE - CARING FOR COLLEAGUES PROGRAM TO ASSIST STAFF IN FINANCIAL EMERGENCY SITUATIONS.

Program 2

Expenses: $220,380

RESEARCH: - AN INTERN RESEARCH PROGRAM TO BUILD SKILLS AND GROWTH KNOWLEDGE IN CARDIOLOGY AND RESEARCH; SUPPORT INTERNS IN EVALUATING THEIR ACADEMIC AND CAREER GOALS; AND DEVELOP PROFESSIONAL SKILLS. - A REGISTRY STUDY TO EVALUATE THE SAFETY AND EFFICACY OF IMPLANTABLE LEADLESS PACEMAKERS AND DEFIBRILLATORS. CONSOLIDATE AND SHARE DATA TO ASSESS THE RELIABILITY, LONGEVITY, AND CLINICAL COMPLICATIONS ASSOCIATED WITH LEADLESS PACEMAKERS AND DEFIBRILLATORS FROM MULTIPLE MANUFACTURERS TO HELP DETERMINE THE MOST VIABLE OPTIONS FOR CARDIOVASCULAR PATIENTS.

Program 3

Expenses: $98,024

ABBOTT NORTHWESTERN'S PHILLIPS EYE INSTITUTE: - FUNDING TO OFFSET THE COST OF PROVIDING TRANSPORTATION TO PATIENTS WHO HAVE LIMITED OR NO OTHER MEANS OF GETTING TO ANW-PEI FOR EYE SURGERY AND OTHER EYE RELATED APPOINTMENTS. - PROVIDING VISION SCREENING TO COMMUNITY SCHOOL CHILDREN. WORK WITH FAMILIES TO IDENTIFY AND REMOVE BARRIERS TO RECEIVE TREATMENT. - THE KIRBY PUCKETT EYE MOBILE IS A MOBILE EYE CLINIC THAT TRAVELS TO MINNEAPOLIS AND ST. PAUL PUBLIC SCHOOLS TO PROVIDE EYE EXAMS AS WELL AS COMMUNITY VISION SCREENING SERVICES FOR CHILDREN AND ADULTS AT COMMUNITY OR SCHOOL EVENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $976,115

Program Service Revenue $0

Investment Income $388,405

Other Revenue $0

TOTAL REVENUE $1,364,520

Expense Breakdown

Grants Paid $1,066,430

Salaries & Benefits $0

Fundraising Expenses $132,778

Program Expenses $1,066,430

Other Expenses $354,422

TOTAL EXPENSES $1,420,852

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,364,520	$16,235,794	-0.9%
Expenses	$1,420,852	$10,567,500	-0.9%
Net Income	$-56,332	$5,668,294	-1.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,962,943

Total Directors

$2,739,395

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANN MADDEN RICE	SVP-PRESIDENT ANW	2.00	Director	$0	$19,794	$1,743,847
RICHARD MEYER	DIRECTOR/PRESIDENT	40.00	Officer Director	$0	$50,115	$488,533
JEAN WATSON MD	DIRECTOR	2.00	Director	$0	$58,103	$505,015
LINDA KETOVER MD	DIRECTOR/CHAIR/PAST CHAIR	2.00	Director	$0	$0	$2,000
LEE AROSTEGUI MD	DIRECTOR	2.00	Director	$0	$0	$0
CONLEY BROOKS	DIRECTOR/TREASURER	2.00	Director	$0	$0	$0
BARBARA BURWELL	DIRECTOR/VICE CHAIR	2.00	Director	$0	$0	$0
JEANNE COOK	DIRECTOR	2.00	Director	$0	$0	$0
KRISTINE FORTMAN PHD	DIRECTOR	2.00	Director	$0	$0	$0
BERIT FRANCIS	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS GUNDERSON	DIRECTOR	2.00	Director	$0	$0	$0
MARTHA HEAD	DIRECTOR	2.00	Director	$0	$0	$0
BENJAMIN JAFFRAY	DIRECTOR	2.00	Director	$0	$0	$0
MUMTAZ KAZIM MD	DIRECTOR	2.00	Director	$0	$0	$0
MEGAN GIVENS LAATSCH	DIRECTOR	2.00	Director	$0	$0	$0
TODD LIFSON	DIRECTOR	2.00	Director	$0	$0	$0
MARTHA MACMILLAN	DIRECTOR	2.00	Director	$0	$0	$0
MICHELLE MILLER	DIRECTOR/SECRETARY	2.00	Director	$0	$0	$0
DAN O'LAUGHLIN MD	DIRECTOR	2.00	Director	$0	$0	$0
JESSE OVERTON II	DIRECTOR	2.00	Director	$0	$0	$0
JASON PAULNOCK	DIRECTOR/CHAIR	2.00	Director	$0	$0	$0
ROB SIT	DIRECTOR/VICE CHAIR	2.00	Director	$0	$0	$0
JULIE VANDERBOOM	DIRECTOR	2.00	Director	$0	$0	$0
RAYMOND YU	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD MAGNUSON	CFO	2.00	Officer	$0	$103,314	$1,474,410

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2022	$1,364,520	$1,420,852	No data	$-56,332
2021	$16,235,794	$10,567,500	$113,856,259	$5,668,294
2020	$26,668,324	$7,122,896	$101,132,691	$19,545,428
2019	$9,782,270	$13,908,058	$83,459,878	$-4,125,788
2018	$11,229,387	$10,906,129	$79,470,079	$323,258

ABBOTT NORTHWESTERN HOSPITAL FOUNDATION