MINNESOTA HOSPITAL FOUNDATION

EIN: 411769025 501(c)(3)

ST PAUL, MN

Total Revenue
$1,140,536
Total Expenses
$12,729
Total Assets
$3,875,298
Net Assets
$3,868,038
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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
1993
Legal Domicile
MN
Principal Officer
RAHUL KORANNE
Phone
6516463501
Tax Period
2023-01-01 to 2023-12-31

MINNESOTA HOSPITAL FOUNDATION, founded in 1993, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 620% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 99% operating margin.

Mission

THE MINNESOTA HOSPITAL FOUNDATION WORKS ON STRATEGIES THAT INCLUDE DATA-LED QUALITY AND SAFETY IMPROVEMENT, EDUCATION, RESEARCH, TRAINING AND LEADERSHIP TO IMPROVE THE HEALTH OF MINNESOTANS.

Program Service Accomplishments

Program 1
Expenses: $12,729 Revenue: $0

THE MINNESOTA HOSPITAL FOUNDATION CONTINUES TO EXIST TO IMPLEMENT RESEARCH AND ANALYSIS OPPORTUNITIES THAT WOULD IMPROVE HEALTH CARE BY MAKING IT MORE AFFORDABLE, INCREASING ITS ACCESSIBILITY TO THE...

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THE MINNESOTA HOSPITAL FOUNDATION CONTINUES TO EXIST TO IMPLEMENT RESEARCH AND ANALYSIS OPPORTUNITIES THAT WOULD IMPROVE HEALTH CARE BY MAKING IT MORE AFFORDABLE, INCREASING ITS ACCESSIBILITY TO THE PEOPLE OF MINNESOTA, OR IMPROVING THE QUALITY OF PATIENT CARE.

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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 $1,000,000
Program Service Revenue $0
Investment Income $140,536
Other Revenue $0
TOTAL REVENUE $1,140,536

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $12,729
Other Expenses $12,729
TOTAL EXPENSES $12,729

Year-over-Year Comparison

2023 2022 Change
Revenue $1,140,536 $158,383 +6.2%
Expenses $12,729 $9,760 +0.3%
Net Income $1,127,807 $148,623 +6.6%
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
8
Independent Members
8
Employees
N/A
Volunteers
8

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
4
$928,177
Total Directors
12
$928,177
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RAHUL KORANNE PRESIDENT/CEO 1.00
Officer Director
$0 $34,530 $928,177
STEVEN UNDERDAHL CHAIR 0.50
Officer Director
$0 $0 $0
JAMES HEREFORD CHAIR ELECT 0.50
Officer Director
$0 $0 $0
RACHELLE SCHULTZ SECRETARY/TREASURER 0.50
Officer Director
$0 $0 $0
DAN OLSON EX-OFFICIO DIRECTOR 0.50
Director
$0 $0 $0
DAVID HERMAN STANDING DIRECTOR 0.70
Director
$0 $0 $0
SARA CRIGER STANDING DIRECTOR 0.50
Director
$0 $0 $0
KEVIN CROSTON STANDING DIRECTOR 0.50
Director
$0 $0 $0
GREG RUBERG REGIONAL DIRECTOR 0.50
Director
$0 $0 $0
DAVID SLOWINSKE STANDING DIRECTOR 0.50
Director
$0 $0 $0
HALENA GAZELKA STANDING DIRECTOR 0.50
Director
$0 $0 $0
PATTI BANKS STANDING DIRECTOR 0.50
Director
$0 $0 $0
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 $1,140,536 $12,729 $3,875,298 $1,127,807
2022 $158,383 $9,760 $2,764,800 $148,623
2021 $2,635,000 $1,225 $2,635,000 $2,633,775
2019 $355,551 $1,130 No data $354,421
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