HEALTHY MINDS INNOVATIONS INC

EIN: 471196006 501(c)(3)

MADISON, WI

Total Revenue
$4,612,344
Total Expenses
$3,903,438
Total Assets
$3,868,306
Net Assets
$3,074,181
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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
WI
Principal Officer
STEPHEN ARNOLD
Phone
6084924184
Tax Period
2023-07-01 to 2024-06-30

HEALTHY MINDS INNOVATIONS INC, founded in 2014, is a community nonprofit that reported $4.6M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. The organization ran a surplus of $709K, a strong 15% operating margin.

Mission

TRANSLATING SCIENCE INTO TOOLS TO CULTIVATE WELLBEING.

Program Service Accomplishments

Program 1
Expenses: $314,035 Revenue: $258,046

HEALTHY MINDS@WORK IS AN INNOVATIVE PROGRAM THAT TEACHES INDIVIDUAL SKILLS THAT FOSTER AN ORGANIZATIONAL CULTURE OF ENGAGEMENT AND SUCCESS, SUPPORTING EMPLOYEES AND LEADERS IN ADDRESSING THE UNIQUE...

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HEALTHY MINDS@WORK IS AN INNOVATIVE PROGRAM THAT TEACHES INDIVIDUAL SKILLS THAT FOSTER AN ORGANIZATIONAL CULTURE OF ENGAGEMENT AND SUCCESS, SUPPORTING EMPLOYEES AND LEADERS IN ADDRESSING THE UNIQUE CHALLENGES FACING NEXT-STAGE ENTERPRISES. DURING THE 2024 FY, HMI BEGAN USING A NEW SERVICES MODEL TO REPLACE THE MOBILE APP BASED ENTERPRISE PRODUCT. WE ENGAGED WITH SEVERAL LARGE ORGANIZATIONS TO DO ETHNOGRAPHIC WELLBEING RESEARCH, DELIVERED TRAINING COURSES AND SUPPORTED RESEARCH STUDIES. IN ADDITION, WE DEVELOPED A NEW INTERVENTION FOR EDUCATIONAL USE AND PILOTED THAT IN A UNIVERSITY CAMPUS SETTING, SEEING AN 8% INCREASE IN STUDENT WELLBEING MEASURES.

Program 2
Expenses: $2,126,795 Revenue: $2,953,529

THE HEALTHY MINDS PROGRAM OFFERS CUSTOM CONTENT AND CONSULTING TO CORPORATE, EDUCATIONAL, AND RESEARCH CLIENTS THROUGH MOBILE MEASURES OF WELL-BEING, A SUITE OF TOOLS IMPLEMENTED ON A MOBILE DEVICE...

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THE HEALTHY MINDS PROGRAM OFFERS CUSTOM CONTENT AND CONSULTING TO CORPORATE, EDUCATIONAL, AND RESEARCH CLIENTS THROUGH MOBILE MEASURES OF WELL-BEING, A SUITE OF TOOLS IMPLEMENTED ON A MOBILE DEVICE THAT MEASURE THE FOUR KEY CONSTITUENTS OF WELL-BEING, BASED ON A COMPREHENSIVE NEUROSCIENTIFICALLY GROUNDED FRAMEWORK: AWARENESS, CONNECTION, INSIGHT, AND PURPOSE. THE HEALTHY MINDS PROGRAM APP IS ALSO AVAILABLE FREELY WORLDWIDE TO INDIVIDUALS TO TEACH AND MEASURE THE SKILLS OF MENTAL WELL-BEING. DURING FY 2024 WE INCREASED THE NUMBER OF ACTIVE MONTHLY USERS BY 29% TO AN AVERAGE OF 39,906 PEOPLE.

Program 3
Expenses: $410,000

HMI LAUNCHED THE HEALTHY MINDS RESEARCH PLATFORM, A MOBILE-FRIENDLY WEB PLATFORM THAT DELIVERS PERSONALIZED ACTIVITIES AND VALIDATED MEASURES TAILORED TO AN INDIVIDUAL'S NEEDS. THE PLATFORM IS...

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HMI LAUNCHED THE HEALTHY MINDS RESEARCH PLATFORM, A MOBILE-FRIENDLY WEB PLATFORM THAT DELIVERS PERSONALIZED ACTIVITIES AND VALIDATED MEASURES TAILORED TO AN INDIVIDUAL'S NEEDS. THE PLATFORM IS DESIGNED TO INTAKE RICH DATASETS - INCLUDING FACIAL EXPRESSION, VOCAL UTTERANCES, AND GEOGRAPHICAL LOCATION - TO DELIVER THE RIGHT INTERVENTION TO THE RIGHT PERSON AT THE RIGHT TIME. THIS NEW WEB-BASED PLATFORM CAN BE USED FOR CONDUCTING RESEARCH, TEACHING AND MEASURING SKILLS OF WELL-BEING, AND IS DESIGNED TO BE MORE FLEXIBLE AND ACCESSIBLE TO MORE PEOPLE. THE PLATFORM ALSO ALLOWS FOR EASIER TAILORING OF SERVICES AND CAN BE SET UP TO PROVIDE A PERSONALIZED EXPERIENCE, DESIGNED TO INCREASE ENGAGEMENT AND IMPACT. IN ADDITION, THE PLATFORM IS SIMPLER AND MORE EFFICIENT TO MAINTAIN.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,341,111
Program Service Revenue $3,232,044
Investment Income $38,706
Other Revenue $483
TOTAL REVENUE $4,612,344

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,332,238
Fundraising Expenses $89,492
Program Expenses $2,898,592
Other Expenses $1,571,200
TOTAL EXPENSES $3,903,438

Year-over-Year Comparison

2023 2022 Change
Revenue $4,612,344 $4,991,534 -0.1%
Expenses $3,903,438 $5,054,962 -0.2%
Net Income $708,906 $-63,428 -12.2%
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
11
Independent Members
10
Employees
25
Volunteers
10

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
7
$688,579
Total Directors
11
$26,125
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHEN ARNOLD CHAIRMAN OF THE BOARD 10.00
Officer Director
$0 $0 $0
RICHARD DAVIDSON VICE CHAIR 4.00
Officer Director
$0 $0 $0
GREG LYNCH SECRETARY AND TREASURER 4.00
Officer Director
$0 $0 $0
LISETTE COOPER DIRECTOR 2.00
Director
$0 $0 $0
TONI SIKES DIRECTOR 2.00
Director
$0 $0 $0
DAVID LUBAR DIRECTOR 2.00
Director
$0 $0 $0
JULIAN THAYER DIRECTOR 2.00
Director
$0 $0 $0
GOLBIE KAMAREI DIRECTOR 2.00
Director
$0 $0 $0
GREGG FERGUS DIRECTOR 2.00
Director
$0 $0 $0
SHOBHINA CHHEDA DIRECTOR 2.00
Director
$0 $0 $0
NEAL RAJDEV DIRECTOR 10.00
Director
$26,125 $0 $26,125
ANDREW BURROUGHS CHIEF EXPERIENCE OFFICER 40.00
Officer
$148,100 $31,350 $179,450
DAVID ELDERBROCK CHIEF TECHNOLOGY OFFICER 40.00
Officer
$162,696 $20,919 $183,615
RAQUEL TATAR CHIEF SCIENCE & OPERATIONS OFFICER 40.00
Officer
$123,652 $26,862 $150,514
CHRISTINA GLAVAS CHIEF EXECUTIVE OFFICER 40.00
Officer
$175,000 $0 $175,000
NICOLE FITE CHIEF OF STAFF 40.00
Highest
$135,452 $13,124 $148,576
GEORGE XAVIER DATA ENGINEER 40.00
Highest
$121,625 $8,311 $129,936
MICHAEL GORDON DIRECTOR OF STRATEGIC INITIATIVES 40.00
Highest
$108,353 $16,168 $124,521
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
2024 $4,612,344 $3,903,438 $3,868,306 $708,906
2023 $4,991,534 $5,054,962 $3,240,416 $-63,428
2022 $3,825,213 $6,015,104 $3,070,291 $-2,189,891
2021 $4,272,719 $4,661,329 $5,514,455 $-388,610
2020 $6,421,318 $4,598,838 $6,122,350 $1,822,480
2019 $5,469,048 $4,223,109 $3,613,217 $1,245,939
2018 $3,128,476 $3,522,674 $2,267,993 $-394,198
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