HENNEPIN HEALTHCARE RESEARCH INSTITUTE

EIN: 411677920 501(c)(3) Medical Research

MINNEAPOLIS, MN

Total Revenue
$54,717,221
Total Expenses
$53,504,403
Total Assets
$75,518,149
Net Assets
$64,917,547
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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
MN
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.

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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%)

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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

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Governance

Voting Members
14
Independent Members
7
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
8
$1,138,397
Total Directors
16
$3,643,529
Key Employees
0
$0
Highest Compensated
5
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
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