CHILDREN'S HEALTH CARE FOUNDATION

EIN: 411814223 501(c)(3) Health Care

MINNEAPOLIS, MN

Total Revenue
$23,897,083
Total Expenses
$22,806,144
Total Assets
$95,877,018
Net Assets
$88,597,595
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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
MN
Principal Officer
BRENDA MCCORMICK
Phone
6128136000
Tax Period
2023-01-01 to 2023-12-31

CHILDREN'S HEALTH CARE FOUNDATION, founded in 1995, is a mid-sized nonprofit in the Health Care sector that reported $23.9M in total revenue in fiscal year 2023. Expenses of $22.8M left a modest 5% surplus.

Mission

CHILDREN'S HEALTH CARE FOUNDATION SUPPORTS THE MISSION OF CHILDREN'S HEALTH CARE BY RAISING FINANCIAL RESOURCES FROM THE COMMUNITY THAT ARE LEVERAGED TO PROVIDE HIGH-QUALITY, FAMILY CENTERED PEDIATRIC HEALTHCARE.

Program Service Accomplishments

Program 1
Expenses: $14,644,559 Revenue: $5,656,025

PROGRAM: CHILDREN'S HEALTH CARE FOUNDATION (THE FOUNDATION) SUPPORTS THE MISSION OF CHILDREN'S HEALTH CARE DBA CHILDREN'S HOSPITALS AND CLINICS (CHILDREN'S), BY OBTAINING FINANCIAL RESOURCES THAT ARE...

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PROGRAM: CHILDREN'S HEALTH CARE FOUNDATION (THE FOUNDATION) SUPPORTS THE MISSION OF CHILDREN'S HEALTH CARE DBA CHILDREN'S HOSPITALS AND CLINICS (CHILDREN'S), BY OBTAINING FINANCIAL RESOURCES THAT ARE LEVERAGED TO CHAMPION THE SPECIAL NEEDS OF CHILDREN AND THEIR FAMILIES AND TO IMPROVE CHILDREN'S HEALTH BY PROVIDING HIGH-QUALITY, FAMILY CENTERED PEDIATRIC SERVICES. THE FOUNDATION IS THE FUNDRAISING ARM FOR CHILDREN'S, WHICH FORMED IN 1924, AND IS ONE OF THE LARGEST CHILDREN'S HEALTH CARE ORGANIZATIONS IN THE U.S., WITH 462 STAFFED BEDS AT OUR TWO HOSPITAL CAMPUSES IN ST PAUL AND MINNEAPOLIS. SEE SCHEDULE O.

Program 2
Expenses: $1,803,656

CAPITAL: CAPITAL SUPPORT PROVIDES FUNDS TO PURCHASE EQUIPMENT AND RELATED SUPPLIES AND SERVICES, OR TO MAKE CAPITAL IMPROVEMENTS. SUCH ACTIVITIES MUST 1) ADVANCE THE MISSION OF CHILDREN'S AND 2) HAVE...

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CAPITAL: CAPITAL SUPPORT PROVIDES FUNDS TO PURCHASE EQUIPMENT AND RELATED SUPPLIES AND SERVICES, OR TO MAKE CAPITAL IMPROVEMENTS. SUCH ACTIVITIES MUST 1) ADVANCE THE MISSION OF CHILDREN'S AND 2) HAVE POTENTIAL FOR SIGNIFICANT OR LONG-TERM IMPACT.

Program 3
Expenses: $432,515

RESEARCH: THE PURPOSE OF FUNDING RESEARCH AT THE CHILDREN'S HEALTH CARE IS TO SUPPORT A SYSTEMATIC INVESTIGATION, INCLUDING RESEARCH DEVELOPMENT, TESTING, AND EVALUATION, DESIGNED TO DEVELOP OR...

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RESEARCH: THE PURPOSE OF FUNDING RESEARCH AT THE CHILDREN'S HEALTH CARE IS TO SUPPORT A SYSTEMATIC INVESTIGATION, INCLUDING RESEARCH DEVELOPMENT, TESTING, AND EVALUATION, DESIGNED TO DEVELOP OR CONTRIBUTE TO GENERALIZED KNOWLEDGE. CURRENTLY, CHILDREN'S HAS MORE THAN 353 ONGOING RESEARCH STUDIES AND PROGRAMS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $15,098,535
Program Service Revenue $0
Investment Income $3,508,906
Other Revenue $5,289,642
TOTAL REVENUE $23,897,083

Expense Breakdown

Grants Paid $16,880,730
Salaries & Benefits $3,689,319
Fundraising Expenses $3,613,569
Program Expenses $16,880,730
Other Expenses $2,236,095
TOTAL EXPENSES $22,806,144

Year-over-Year Comparison

2023 2022 Change
Revenue $23,897,083 $24,259,448 0.0%
Expenses $22,806,144 $20,384,224 +0.1%
Net Income $1,090,939 $3,875,224 -0.7%
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
34
Independent Members
30
Employees
28
Volunteers
125

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
10
$4,066,034
Total Directors
45
$4,066,034
Key Employees
2
$656,451
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANN MCGARRY BOARD MEMBER 1.00
Director
$0 $0 $0
ANNE NOVAK BOARD MEMBER 1.00
Director
$0 $0 $0
ARCHELLE GEORGIOU BOARD MEMBER 1.00
Director
$0 $0 $0
BRENDA MCCORMICK SVP & CFO 1.00
Officer Director
$0 $44,336 $960,368
BRIAN BEH BOARD MEMBER, TREASURER THRU 1/23 1.00
Officer Director
$0 $0 $0
BRIANA KOCH BOARD MEMBER 1.00
Director
$0 $0 $0
CATHY MUGGEE BOARD MEMBER 1.00
Director
$0 $0 $0
CHARLES MAXWELL BOARD MEMBER, PAST CHAIR THRU 1/23 1.00
Officer Director
$0 $0 $0
CHRIS HEDBERG BOARD MEMBER, PAST CHAIR 1.00
Officer Director
$0 $0 $0
EMILY PRYOR WINTON DEPUTY GENERAL COUNSEL, BOARD SECRETARY 1.00
Officer Director
$0 $39,047 $323,395
ERIN HERMAN BOARD MEMBER THRU 1/23 1.00
Director
$0 $0 $0
EVA SPENNY BOARD MEMBER 1.00
Director
$0 $0 $0
GARY BLACKFORD BOARD MEMBER THRU 8/23 1.00
Director
$0 $0 $0
JACQUELINE LLOYD CUNNINGHAM BOARD MEMBER 1.00
Director
$0 $0 $0
JAMES WEED BOARD MEMBER THRU 2/23 1.00
Director
$0 $0 $0
JAY CAVANAGH BOARD MEMBER THRU 1/23 1.00
Director
$0 $0 $0
JENNIFER SODERHOLM CDO & FOUNDATION PRESIDENT 32.00
Officer Director
$430,279 $31,213 $693,180
JERYN KONEZNY BOARD MEMBER 1.00
Director
$0 $0 $0
JESSICA HENRICHS BOARD MEMBER 1.00
Director
$0 $0 $0
JON BIERMANN BOARD MEMBER 1.00
Director
$0 $0 $0
MARA RYAN BOARD MEMBER 1.00
Director
$0 $0 $0
MARC GORELICK MD PRESIDENT & CEO 1.00
Officer Director
$0 $356,578 $2,089,091
MARIA TROJE BOARD MEMBER 1.00
Director
$0 $0 $0
MARTY BASSETT BOARD MEMBER 1.00
Director
$0 $0 $0
MAY THAO-SCHUCK BOARD MEMBER 1.00
Director
$0 $0 $0
MOLLY BIEDENFELD BOARD MEMBER THRU 1/23 1.00
Director
$0 $0 $0
MONIQUE DEWOLF BOARD MEMBER THRU 1/23 1.00
Director
$0 $0 $0
NESTOR JARAMILLO BOARD MEMBER, VICE CHAIR 1.00
Officer Director
$0 $0 $0
NICO WYROBEK BOARD MEMBER, TREASURER 1.00
Officer Director
$0 $0 $0
NICOLE JOHNSON BOARD MEMBER THRU 1/23 1.00
Director
$0 $0 $0
PAUL LAPADAT BOARD MEMBER 1.00
Director
$0 $0 $0
RAQUEL MELO BOARD MEMBER 1.00
Director
$0 $0 $0
REBECCA LIEBERMAN BOARD MEMBER, CHAIR 1.00
Officer Director
$0 $0 $0
RUSSELL BECKER BOARD MEMBER 1.00
Director
$0 $0 $0
RYAN BARTLEY BOARD MEMBER 1.00
Director
$0 $0 $0
SHANNON KING BOARD MEMBER THRU 1/23 1.00
Director
$0 $0 $0
SHARON MURPHY GARBER BOARD MEMBER 1.00
Director
$0 $0 $0
SIMONE HARDENMAN-JONES BOARD MEMBER 1.00
Director
$0 $0 $0
STEPHANIE THOMES BOARD MEMBER 1.00
Director
$0 $0 $0
STEVE HOCKETT BOARD MEMBER THRU 1/23 1.00
Director
$0 $0 $0
STEVE RYAN BOARD MEMBER 1.00
Director
$0 $0 $0
TAWNYA STEWART BOARD MEMBER 1.00
Director
$0 $0 $0
TERRY CLARK BOARD MEMBER 1.00
Director
$0 $0 $0
TRACI BRANSFORD BOARD MEMBER 1.00
Director
$0 $0 $0
WALTER WHITE BOARD MEMBER 1.00
Director
$0 $0 $0
ANNIE WATERS VP FOUNDATION OPERATIONS 50.00
Key Emp
$333,329 $29,382 $362,711
JOSLYN BIEVER VP PHILANTHROPY 50.00
Key Emp
$271,872 $21,868 $293,740
ASHLEY LAWSON SR MAJOR GIFT OFFICER 50.00
Highest
$121,416 $15,460 $136,876
BRADY GERVAIS MAJOR GIFT OFFICER 50.00
Highest
$111,915 $15,331 $127,246
DANIEL LANTZ SR MGR GIFT ADMIN & IT 50.00
Highest
$141,886 $32,818 $174,704
DEB DRESSELY MANAGER PROSPECT DEV 50.00
Highest
$115,768 $28,006 $143,774
TERI CANNON DIRECTOR OF DEVELOPMENT 50.00
Highest
$148,453 $35,008 $183,461
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 $23,897,083 $22,806,144 $95,877,018 $1,090,939
2022 $24,259,448 $20,384,224 $87,926,238 $3,875,224
2021 $25,438,436 $18,216,715 $90,729,243 $7,221,721
2020 $13,523,329 $15,324,999 $77,462,682 $-1,801,670
2019 $19,576,340 $21,473,880 $75,009,268 $-1,897,540
2018 $25,151,940 $20,653,562 $72,163,811 $4,498,378
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