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 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.

Program Service Accomplishments

Program 1
Expenses: $177,589,552 Revenue: $158,281,294

HealthEast Medical Research Institute operates medical clinics for the treatment of the sick and infirmed to enhance the accessibility, quality and cost efficiency of medical and health care services...

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HealthEast Medical Research Institute operates medical clinics for the treatment of the sick and infirmed to enhance the accessibility, quality and cost efficiency of medical and health care services rendered to the community while also conducting medical research. The outpatient revenue of the medical clinics includes payments from the Medicare and Medicaid programs. The institute uses medical information collected from the treatment of patients to establish and expand a database to conduct various medical research activities relating to health care in conjunction with related hospitals for the benefit of the public. Accordingly, the treatment of patients is an essential and integral part of the research activity of the institute. HealthEast Medical Research Institute includes HealthEast Clinics' staff members that are dedicated to providing high-quality, compassionate health care. Our clinic locations are in neighborhoods throughout the Twin Cities East Metro area. Our providers include board-certified doctors, certified nurse midwives and nurse practitioners. HealthEast Medical Institute Clinics offer a full range of services for patients of all ages. HealthEast Medical Research Institute is committed to the communities it serves and demonstrates the commitment by serving as a charitable health resource. In support of its mission of community service, HealthEast Medical Research Institute provides emergency and medically necessary nonemergency services to the community regardless of ability to pay. Charity care represents the clinical services provided where the clinic did not receive full or partial payment because the patients did not have the ability to pay. HealthEast Medical Research Institute is a not-for-profit organization contributing time and resources to serve the community's health care needs. The organization provides charity care & community benefits to the communities it serves. In addition to the charity care and community benefits, HealthEast Medical Research Institute wrote-off other medical services to bad debt in the amount of $2,542,952. HealthEast Medical Research Institute is part of Fairview Health Services. Fairview Health Services is an integrated academic health system located in Minneapolis, Minnesota, and, along with its affiliates and subsidiaries, is one of the leading health care providers in Minnesota with $7.3 billion in operating revenue for 2023. Fairview offers a broad continuum of health care services through its hospitals, clinics, and other health care related operations and is a Minnesota nonprofit corporation that is exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code. The most recent community health needs assessment (CHNA) identified 3 key areas as the greatest needs in our community - navigating and accessing care and resources; healing, connectedness, and mental health; structural racism and barriers to equity. Fairview Health Services is meeting the needs of the community by focusing on racial and ethnic populations experiencing health disparities and people experiencing poverty through partnering with the community to build solutions, removing barriers to create and expand relevant programs and focused services. Please see Schedule H for a description of additional services, community benefit activities, and the full spectrum of charity care that Fairview Health Services provides to the community. Fairview serves the entire twelve-county Minneapolis/St. Paul Metro Area, as well as communities throughout greater Minnesota and portions of Northern Iowa and Western Wisconsin and is one of the most comprehensive and geographically accessible systems in Minnesota. The Fairview System consists of ten hospitals, including M Health Fairview University of Minnesota Medical Center and M Health Fairview Masonic Children's Hospital (collectively, "UMMC"), which is the adult and pediatric teaching hospital of the University of Minnesota. UMMC and seven of Fairview's other hospitals are in the Metro Area. Fairview's other two hospitals are located in northern Minnesota. Fairview operates over 80 primary and specialty care clinics, seven ambulatory care centers, 37 retail and specialty pharmacies, pharmacy benefit management services, rehabilitation centers, physician network, senior care housing and long- term care facilities and medical transportation. Fairview, through its integrated care model, aims to deliver the benefits of academic medicine to more patients and families by expanding care, research, and education by offering access to a greater pool of physicians and patients, while seeking to reduce the total cost of care for patients. Fairview, the University of Minnesota and the University of Minnesota Physicians approved an agreement which became effective in late 2018 (the "M Health Fairview Agreement"). While the parties maintain their separate governance, the M Health Fairview Agreement further integrated operations across the clinical delivery system and enhances research and education by creating a joint clinical enterprise among the parties. The M Health Fairview Agreement brings together UMMC and its related service lines, Fairview's community hospitals and primary care clinics, and other services. All are part of a shared care delivery system that is led by a single structure that includes academic physician leadership. The goal of the joint clinical enterprise is to create a nationally-renowned academic health system. This care system was united in 2020 under a single brand, M Health Fairview, which is inclusive of Fairview's ten hospitals and its clinics. Fairview owns and operates the following hospitals: UMMC, M Health Fairview Southdale Hospital, M Health Fairview Ridges Hospital, M Health Fairview Lakes Medical Center, M Health Fairview Northland Medical Center, Fairview University Medical Center - Mesabi ("Range"), Grand Itasca Clinic and Hospital, M Health Fairview St. John's Hospital, M Health Fairview Woodwinds Hospital and M Health Fairview Bethesda Long Term Acute Hospital. As of December 31, 2023, the Fairview System Hospitals had a total of 3,529 licensed beds and 1,824 staffed beds. Fairview operates their more than 80 primary and specialty care clinics throughout the Metro Area, greater Minnesota and western Wisconsin. These clinics offer services in over 70 medical specialties, including family medicine, pediatrics, obstetrics, gynecology, heart care, cancer care, otolaryngology, transplant care, and orthopedics. As of December 31, 2023, Fairview owned all or a portion of six ambulatory surgery centers located in the Metro Area. Fairview and Fairview Pharmacy Services own and operate pharmacies at 37 locations, including a network of retail pharmacies, oncology pharmacies, two home infusion pharmacies (Minneapolis and Duluth, Minnesota), and a specialty pharmacy. M Health Fairview Rehabilitation Services ("MHFRS") provides a full continuum of inpatient and outpatient rehabilitation services for pediatric and adult patients as well as an inpatient rehabilitation facility, a hospital based skilled nursing facility and an adult day program. In addition to providing inpatient services in nine hospitals, MHFRS has 58 outpatient hospital based and free-standing clinics that serve pediatric and adult patients. Specialty services include rehabilitation in the following areas: Cardiac and Pulmonary rehabilitation, Audiology, Orthopedic, Sports related injuries, Neurological, Vestibular, and Cancer Rehab. Hand therapy services are also provided in seven locations. MHFRS serves about 750,000 patient visits/year. M Health Fairview Emergency Medical Services offers emergency medical services and scheduled transportation across the Metro Area and supports the community by responding to more than 60,000 calls annually. Ebenezer, a non-profit subsidiary of Fairview, provides long-term senior care facilities, senior housing, adult care services. Ebenezer's goal is to provide a supportive environment where older adults can pursue longer, healthier, and more meaningful lives. COMMUNITY COMMITMENT Fairview, an anchor institution rooted in our communities, continues to invest heavily in the health and wellness of its communities in which it operates. This commitment includes education, training, community programs and research, as well as significant investments in care delivery. The COVID pandemic exposed persistent health inequities for communities of color and has exacerbated racial disparities. Communities of color experienced statistically higher rates of COVID, including higher rates of hospitalization and death.

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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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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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