MINNESOTA HOSPITAL ASSOCIATION

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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

1917

Legal Domicile

Principal Officer

RAHUL KORANNE

Phone

6516591419

Tax Period

2023-01-01 to 2023-12-31

MINNESOTA HOSPITAL ASSOCIATION, founded in 1917, is a mid-sized nonprofit in the Community Improvement sector that reported $10.1M in total revenue in fiscal year 2023. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $9.5M left a modest 6% surplus.

Mission

ADVANCE THE HEALTH OF INDIVIDUALS AND COMMUNITIES THROUGH LEADERSHIP, ADVOCACY AND COLLABORATION ON BEHALF OF MINNESOTA HOSPITALS AND HEALTH SYSTEMS. VISION: MINNESOTANS ARE HEALTHY AND HAVE ACCESS TO THE RIGHT CARE AT THE RIGHT TIME IN THE RIGHT PLACE.

Program Service Accomplishments

Program 1

EDUCATION: PROVIDED PROFESSIONAL DEVELOPMENT, LEADERSHIP TRAINING, AND CONTINUING EDUCATION PROGRAMS TO HOSPITAL AND HEALTH SYSTEM LEADERS AND STAFF THROUGH WEBINARS, IN-PERSON SEMINARS, AND...

EDUCATION: PROVIDED PROFESSIONAL DEVELOPMENT, LEADERSHIP TRAINING, AND CONTINUING EDUCATION PROGRAMS TO HOSPITAL AND HEALTH SYSTEM LEADERS AND STAFF THROUGH WEBINARS, IN-PERSON SEMINARS, AND CONFERENCES.

Program 2

QUALITY AND PATIENT SAFETY: MHA PARTNERS WITH MHA MEMBERS TO IMPLEMENT EVIDENCE-BASED PRACTICES TO REDUCE PATIENT HARM ACROSS THE BOARD, INCLUDING HOSPITAL ACQUIRED INFECTIONS, MEDICATION AND...

QUALITY AND PATIENT SAFETY: MHA PARTNERS WITH MHA MEMBERS TO IMPLEMENT EVIDENCE-BASED PRACTICES TO REDUCE PATIENT HARM ACROSS THE BOARD, INCLUDING HOSPITAL ACQUIRED INFECTIONS, MEDICATION AND SURGICAL EVENTS, AND OTHER ADVERSE HEALTH EVENTS. MHA MAINTAINS A ROBUST INFRASTRUCTURE OF STATEWIDE COMMITTEES ON TOPICS INCLUDING SURGERY, HEALTH CARE ASSOCIATED INFECTIONS, SEPSIS, FALLS, PRESSURE INJURIES, MEDICATION SAFETY, AND PATIENT AND FAMILY ENGAGEMENT. MHA ALSO CONVENES NUMEROUS LEARNING NETWORKS AND CONFERENCES FOR HEALTH SYSTEMS TO LEARN AND TO ACT TOGETHER TO IMPROVE PATIENT CARE THROUGHOUT MINNESOTA. MHA WORKS TO LEARN AND SPREAD BEST PRACTICES BY PARTNERING WITH OTHER ORGANIZATIONS AND STAKEHOLDERS IN MINNESOTA AND NATIONALLY, INCLUDING THE MINNESOTA DEPARTMENTS OF HEALTH AND HUMAN SERVICES AND QUALITY IMPROVEMENT ORGANIZATIONS.

Program 3

DATA AND INFORMATION SERVICES: MHA COLLECTS AND PROVIDES DATA RESOURCES FOR MEMBERS, POLICY MAKERS, RESEARCHERS, AND OTHERS. THESE RESOURCES INCLUDE ANNUAL FINANCIAL SUMMARY DATA THROUGH THE HEALTH CARE COST INFORMATION SYSTEM (HCCIS) - AN ONLINE ANALYTICS PLATFORM BASED ON ADMINISTRATIVE CLAIMS - AND HEALTHCARE WORKFORCE DEMOGRAPHICS AND TRENDS. MHA ALSO ANALYZES POLICY PROPOSALS TO GAUGE POTENTIAL IMPACT ON HOSPITALS AND THEIR PATIENTS. MHA COLLECTS AND ANALYZES PROCESS AND OUTCOME DATA USING A WEB-BASED QUALITY DATA PORTAL. MHA ALSO PROVIDES DATA RESOURCES TO THE STATE OF MINNESOTA DEPARTMENTS OF HEALTH AND HUMAN SERVICES, AND THE STATES OF NEW JERSEY AND VERMONT. THE EXTENSION OF THESE SERVICES TO OTHER STATES BENEFITS MINNESOTA HOSPITALS AND HEALTH SYSTEMS BY BROADENING THE GEOGRAPHICAL AND STATISTICAL BASE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,918,957

Investment Income $611,150

Other Revenue $611,125

TOTAL REVENUE $10,141,232

Expense Breakdown

Grants Paid $339,791

Salaries & Benefits $6,098,579

Fundraising Expenses $0

Other Expenses $3,068,954

TOTAL EXPENSES $9,507,324

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,141,232	$16,743,447	-0.4%
Expenses	$9,507,324	$16,112,509	-0.4%
Net Income	$633,908	$630,938	+0.0%

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

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

$1,126,837

Total Directors

$928,177

Key Employees

$278,605

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAHUL KORANNE MD	PRESIDENT & CEO	32.00	Officer Director	$893,647	$34,530	$928,177
JAMES HEREFORD	CHAIR	0.70	Officer Director	$0	$0	$0
RACHELLE SCHULTZ EDD	CHAIR ELECT	0.50	Officer Director	$0	$0	$0
STEVE UNDERDAHL	IMMEDIATE PAST CHAIR	0.70	Officer Director	$0	$0	$0
DAVID C HERMAN MD	SECRETARY-TREASURER	0.70	Officer Director	$0	$0	$0
J KEVIN CROSTON MD	STANDING DIRECTOR	0.50	Director	$0	$0	$0
MARC H GORELICK MD MSCE	STANDING DIRECTOR	0.50	Director	$0	$0	$0
SARA CRIGER	STANDING DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER DECUBELLIS LPC	STANDING DIRECTOR	0.50	Director	$0	$0	$0
MEGAN REMARK	STANDING DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL PHELPS	AT-LARGE DIRECTOR	0.50	Director	$0	$0	$0
PATTI BANKS	AT-LARGE DIRECTOR	0.50	Director	$0	$0	$0
TOM KOOIMAN	REGIONAL DIRECTOR	0.50	Director	$0	$0	$0
CARRIE MICHALSKI	REGIONAL DIRECTOR	0.50	Director	$0	$0	$0
GREG RUBERG	REGIONAL DIRECTOR	0.50	Director	$0	$0	$0
BILL NELSON	REGIONAL DIRECTOR	0.50	Director	$0	$0	$0
DAN OLSON	EX-OFFICIO DIRECTOR	0.50	Director	$0	$0	$0
MARY THEURER	TRUSTEE DIRECTOR	0.50	Director	$0	$0	$0
DEB KIERSTEAD	CHIEF FINANCIAL OFFICER	21.84	Officer	$166,024	$32,636	$198,660
BOB HUME	VP POLICY & COMMUNICATIONS	40.00	Key Emp	$257,729	$20,876	$278,605
MARY KRINKIE	VP GOVERNMENT RELATIONS	40.00	Highest	$254,929	$45,646	$300,575
TANIA DANIELS	SENIOR CONSULTANT QUALITY	40.00	Highest	$245,633	$23,983	$269,616
JOE SCHINDLER	VP FINANCE POLICY AND ANALYTICS	28.00	Highest	$228,800	$39,716	$268,516
LOU ANN OLSON	SENIOR DIRECTOR COMMUNICATIONS	40.00	Highest	$165,897	$43,940	$209,837
JENNIFER SCHOENECKER	ASSOCIATE VP PATIENT SAFETY / QUALITY	40.00	Highest	$169,594	$26,461	$196,055

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
2024	No data	No data	No data	No data
2023	$10,141,232	$9,507,324	$27,155,700	$633,908
2022	$16,743,447	$16,112,509	$27,303,562	$630,938
2021	$11,552,322	$9,267,432	$27,636,744	$2,284,890
2020	$12,353,696	$11,199,702	$24,476,499	$1,153,994
2019	$12,254,513	$11,208,702	$17,455,338	$1,045,811
2018	$13,109,855	$10,859,710	$17,322,862	$2,250,145