Healtheast Medical Research Institute

EIN: 411765832 501(c)(3) Health Care

Minneapolis, MN

Total Revenue
$158,384,884
Total Expenses
$189,431,122
Total Assets
$40,648,467
Net Assets
$-188,622,637
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
MN
Phone
6126724976
Tax Period
2023-01-01 to 2023-12-31

Healtheast Medical Research Institute, founded in 1993, is a major nonprofit in the Health Care sector that reported $158.4M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $189.4M exceeded revenue, resulting in a 20% operating deficit.

Mission

Fairview is driven to heal, discover and educate for longer, healthier lives.

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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 (2023)

Revenue Breakdown

Contributions & Grants $83,579
Program Service Revenue $158,281,294
Investment Income $20,011
Other Revenue $0
TOTAL REVENUE $158,384,884

Expense Breakdown

Grants Paid $0
Salaries & Benefits $99,641,731
Fundraising Expenses $0
Program Expenses $177,589,552
Other Expenses $89,789,391
TOTAL EXPENSES $189,431,122

Year-over-Year Comparison

2023 2022 Change
Revenue $158,384,884 $145,072,485 +0.1%
Expenses $189,431,122 $179,881,857 +0.1%
Net Income $-31,046,238 $-34,809,372 -0.1%
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
20
Independent Members
19
Employees
N/A
Volunteers
N/A

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
15
$19,247,615
Total Directors
20
$5,616,751
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Vice Chair 0.0
Officer Director
$0 $0 $0
N/A President & CEO 2.0
Officer Director
$0 $38,307 $5,246,751
N/A Vice Chair 0.0
Officer Director
$0 $0 $25,000
N/A Chair 0.0
Officer Director
$0 $0 $35,000
N/A Secretary 0.0
Officer Director
$0 $0 $25,000
N/A Director 0.0
Director
$0 $0 $25,000
N/A Director 0.0
Director
$0 $0 $20,000
N/A Director 0.0
Director
$0 $0 $20,000
N/A Director 0.0
Director
$0 $0 $20,000
N/A Director 0.0
Director
$0 $0 $20,000
N/A Director 0.0
Director
$0 $0 $25,000
N/A Director 0.0
Director
$0 $0 $25,000
N/A Director 0.0
Director
$0 $0 $25,000
N/A Director 0.0
Director
$0 $0 $20,000
N/A Director 0.0
Director
$0 $0 $0
N/A Director 0.0
Director
$0 $0 $25,000
N/A Director 0.0
Director
$0 $0 $0
N/A Director 0.0
Director
$0 $0 $20,000
N/A Director 0.0
Director
$0 $0 $20,000
N/A Director 0.0
Director
$0 $0 $20,000
N/A Chf Public Affairs Officer 2.0
Officer
$0 $97,934 $847,342
N/A EVP & Chf Transformation Officer 2.0
Officer
$0 $116,219 $929,487
N/A EVP, COO 2.0
Officer
$0 $170,630 $1,253,184
N/A CFO 2.0
Officer
$0 $200,937 $1,843,940
N/A COO 2.0
Officer
$0 $103,835 $2,033,363
N/A CMO 2.0
Officer
$0 $103,992 $1,681,615
N/A Chf People Officer 2.0
Officer
$0 $65,596 $1,035,357
N/A EVP & Chf Shared Clinical Svcs 2.0
Officer
$0 $206,096 $1,510,285
N/A Chf Digital Officer 2.0
Officer
$0 $187,871 $1,371,769
N/A Chf Legal Counsel 2.0
Officer
$0 $276,107 $1,409,522
N/A Physician 40.0
Highest
$0 $18,217 $1,456,063
N/A Physician 40.0
Highest
$0 $36,843 $801,720
N/A Physician 40.0
Highest
$0 $38,835 $777,374
N/A Physician 40.0
Highest
$0 $38,198 $870,234
N/A Physician 40.0
Highest
$0 $38,897 $837,398
N/A Former Medical Director-Community Neurology 0.0
$0 $33,461 $832,027
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 $158,384,884 $189,431,122 $40,648,467 $-31,046,238
2022 $145,072,485 $179,881,857 $43,927,884 $-34,809,372
2021 $121,333,649 $144,055,775 $40,749,829 $-22,722,126
2020 $90,202,790 $131,808,000 $39,119,141 $-41,605,210
2019 $110,522,261 $133,337,749 $51,597,729 $-22,815,488
2018 $111,560,518 $143,595,967 $21,096,262 $-32,035,449
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