HENNEPIN HEALTHCARE RESEARCH INSTI… - 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

1952

Legal Domicile

Principal Officer

KIRSTEN L JOHANSEN MD

Phone

6128733386

Tax Period

2024-01-01 to 2024-12-31

HENNEPIN HEALTHCARE RESEARCH INSTITUTE, founded in 1952, is a mid-sized nonprofit in the Medical Research sector that reported $54.7M in total revenue in fiscal year 2024.

Mission

IMPROVE PATIENT CARE AND THE HEALTH OF OUR COMMUNITY THROUGH RESEARCH AND EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $44,198,511 Revenue: $0

CLINICAL RESEARCH AND EDUCATIONAL ACTIVITIES:HENNEPIN HEALTHCARE RESEARCH INSTITUTE (HHRI) INVESTIGATORS ARE PRACTICING PHYSICIANS, SCIENTISTS AND OTHER MEDICAL PROFESSIONALS USING THEIR EXPERTISE TO ADVANCE MEDICAL KNOWLEDGE AND IMPROVE THE CARE PATIENTS RECEIVE. HHRI'S RESEARCH SUBJECTS ARE DIVERSE WITH A FOCUS ON ACUTE CARE/TRAUMA, ADDICTION, HEALTH SERVICES, AND INFECTIOUS DISEASES. PARTICIPANTS IN HHRI CLINICAL RESEARCH STUDIES (INCLUDING TRAUMATIC BRAIN INJURY, SUBSTANCE USE DISORDERS, DEMENTIA, CHRONIC DISEASES, AND HIV/AIDS) HAVE ACCESS TO SOME OF THE LATEST MEDICAL TREATMENTS AVAILABLE TODAY. IN ADDITION TO PURSUING INNOVATIVE NEW THERAPIES, OUR INVESTIGATORS ARE TRAINING THE NEXT GENERATION OF SCIENTISTS AND MEDICAL PROFESSIONALS, INSPIRING THEM TO CARRY OUT HHRI'S MISSION OF IMPROVING PATIENT CARE AND THE HEALTH OF OUR COMMUNITY THROUGH RESEARCH AND EDUCATION. OUR INVESTIGATORS ALSO PUBLISH REGULARLY IN PEER-REVIEWED JOURNALSSEE SCHEDULE O - GENERAL STATEMENT.

Program 2

Expenses: $5,131,984 Revenue: $0

PRE-CLINICAL AND LABORATORY RESEARCH:IN THE HHRI LABS, WE STUDY THE CAUSES AND TREATMENTS OF DISEASE. OUR RESEARCH SUBJECTS ARE DIVERSE WITH A FOCUS ON ACUTE CARE/TRAUMA, ADDICTION, HEALTH SERVICES, AND INFECTIOUS DISEASES. AT HHRI, WE DEVELOP INNOVATIVE NEW TREATMENTS TO SOLVE SOME OF OUR COMMUNITY'S MOST-CHALLENGING HEALTH PROBLEMS. RESEARCHERS IN OUR LABS ARE MDS, MD/PHDS, PHDS, PHARMDS, AND OTHER MEDICAL AND SCIENCE PROFESSIONALS WORKING TO ADVANCE MEDICAL KNOWLEDGE AND IMPROVE THE CARE PATIENTS RECEIVE. OUR INVESTIGATORS ALSO PUBLISH REGULARLY IN PEER-REVIEWED JOURNALS SEE SCHEDULE O - GENERAL STATEMENT.

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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 (2024)

Revenue Breakdown

Contributions & Grants $52,551,531

Program Service Revenue $0

Investment Income $2,165,690

Other Revenue $0

TOTAL REVENUE $54,717,221

Expense Breakdown

Grants Paid $0

Salaries & Benefits $26,129,366

Fundraising Expenses $0

Program Expenses $49,330,495

Other Expenses $27,375,037

TOTAL EXPENSES $53,504,403

Year-over-Year Comparison

	2024	2023	Change
Revenue	$54,717,221	$57,100,108	0.0%
Expenses	$53,504,403	$55,410,594	0.0%
Net Income	$1,212,818	$1,689,514	-0.3%

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

266

Volunteers

202

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

$1,138,397

Total Directors

$3,643,529

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW SCHMIDT MD	DIRECTOR/PHYSICIAN (UNTIL 6/24)	4.90	Director	$0	$52,155	$660,695
MICHAEL PUSKARICH MD MS	DIRECTOR/PHYSICIAN	7.10	Director	$0	$60,396	$573,871
MEGHAN WALSH MD MPH FACP	DIRECTOR/HHS - CARO	0.20	Director	$0	$64,536	$539,918
KIRSTEN L JOHANSEN MD	PRESIDENT/INVESTIGATOR	29.90	Officer Director	$0	$58,740	$537,828
THERESA PESCH RN	HHS VP OF PHILANTHROPHY	0.10	Director	$0	$62,880	$494,094
ERIC LING MD MBA MA	DIRECTOR/HHS - CHIEF OF MEDICAL OFFICER	0.10	Director	$0	$46,350	$362,496
ANNE FROSCH MD	DIRECTOR/INVESTIGATOR	27.60	Director	$0	$53,536	$332,873
WARREN MCKINNEY PHD	DIRECTOR/VP FOR EQUITY IN RESEARCH/INVESTIGATOR	40.00	Officer Director	$117,100	$24,654	$141,754
EDWARD P EHLINGER MD MSPH	DIRECTOR	0.10	Director	$0	$0	$0
GOPAL KHANNA MBA	DIRECTOR	0.10	Director	$0	$0	$0
SIMON SHANNON MBA PHD	DIRECTOR	0.10	Director	$0	$0	$0
PRAT VERMA MBA MS	DIRECTOR	0.10	Director	$0	$0	$0
RICHARD KING MD PHD	BOARD CHAIR (UNTIL 4/24)	0.20	Officer Director	$0	$0	$0
CONNIE DELANEY PHD RN FAAN	BOARD CHAIR	0.20	Officer Director	$0	$0	$0
MIAJA CASSIDY JD CHC CCEP	BOARD VICE CHAIR	0.20	Officer Director	$0	$0	$0
SERAFIN SAMSON MBA MS	SECRETARY/TREASURER	0.50	Officer Director	$0	$0	$0
MARK WILLMERT CPA INACTIVE	HHF/HHRI - VP OF FINANCE	23.70	Officer	$0	$33,166	$242,750
KIM MILLER	VP OF OPERATIONS & COO	40.00	Officer	$177,092	$38,973	$216,065
DAVID GILBERTSON	PROGRAM CO-DIRECTOR	40.00	Highest	$260,228	$54,866	$315,094
RACHEL NYGAARD	DIRECTOR/SURGERY RESEARCH	40.00	Highest	$231,903	$55,144	$287,047
JIANNOUNG LIU	DIRECTOR, ANALYSIS	40.00	Highest	$213,572	$46,142	$259,714
JON SNYDER	DIRECTOR, TRANSPLANT EPIDEMIOLOGY	40.00	Highest	$213,084	$44,043	$257,127
SHULING LI	EPIDDEMIOLOGIST & BIOSTATISTICIAN	40.00	Highest	$174,782	$37,706	$212,488
JASON BAKER MD	FORMER VICE PRESIDENT/INVESTIGATOR	28.80		$0	$56,368	$350,534
AJAY ISRANI MD MS	FORMER PRESIDENT/INVESTIGATOR	21.20		$0	$45,030	$311,093
ANNE MURRAY MD MS	FORMER SECRETARY/TREASURER/INVESTIGATOR	32.10		$0	$41,525	$259,722

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	$54,717,221	$53,504,403	$75,518,149	$1,212,818
2023	$57,100,108	$55,410,594	$72,662,924	$1,689,514
2022	$55,810,422	$49,868,509	$64,633,780	$5,941,913
2021	$47,615,744	$45,048,467	$65,628,312	$2,567,277
2020	$39,322,190	$38,458,228	$60,141,813	$863,962
2019	$38,612,727	$37,708,065	$52,200,725	$904,662

HENNEPIN HEALTHCARE RESEARCH INSTITUTE