MIAMI HEART RESEARCH INSTITUTE INC

EIN: 590674260 501(c)(3) Philanthropy & Grantmaking

MIAMI, FL

Total Revenue
$11,192,176
Total Expenses
$3,427,931
Total Assets
$72,453,813
Net Assets
$70,881,615
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1944
Legal Domicile
FL
Principal Officer
NANCY R CAVALIE
Phone
3056743020
Tax Period
2024-01-01 to 2024-12-31

MIAMI HEART RESEARCH INSTITUTE INC, founded in 1944, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $11.2M in total revenue in fiscal year 2024. Revenue surged 234% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.8M, a strong 69% operating margin.

Mission

TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF, FLORIDA HEART RESEARCH FOUNDATION, INC. IN ITS MISSION TO STOP HEART DISEASE THROUGH RESEARCH, EDUCATION AND PREVENTION PROGRAMS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $77,007
Program Service Revenue $0
Investment Income $11,115,169
Other Revenue $0
TOTAL REVENUE $11,192,176

Expense Breakdown

Grants Paid $2,569,901
Salaries & Benefits $432,117
Fundraising Expenses $0
Program Expenses $2,898,699
Other Expenses $425,913
TOTAL EXPENSES $3,427,931

Year-over-Year Comparison

2024 2023 Change
Revenue $11,192,176 $3,349,334 +2.3%
Expenses $3,427,931 $2,180,842 +0.6%
Net Income $7,764,245 $1,168,492 +5.6%
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
9
Independent Members
9
Employees
3
Volunteers
9

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
3
$266,307
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOE ANN BATCHELLER CHAIRMAN 1.00
Officer Director
$0 $0 $0
JOSE ANTONIO ADAMS MD VICE CHAIR 1.00
Officer Director
$0 $0 $0
OLIVER R DI PIETRO MD TRUSTEE 1.00
Director
$0 $0 $0
TRACY TOWLE HUMPHREY TRUSTEE 1.00
Director
$0 $0 $0
MARY JEAN CATINCHI MELLA ESQ TRUSTEE 1.00
Director
$0 $0 $0
MARIA CANOSSA-TERRIS MD TRUSTEE 1.00
Director
$0 $0 $0
ELIZABETH WHALEN TRUSTEE 1.00
Director
$0 $0 $0
CHARLES E PORTER TRUSTEE 1.00
Director
$0 $0 $0
ERIC FALKENBERG TRUSTEE 1.00
Director
$0 $0 $0
NANCY R CAVALIE EXECUTIVE DIRECTOR 40.00
Officer
$240,000 $26,307 $266,307
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 $11,192,176 $3,427,931 $72,453,813 $7,764,245
2023 $3,349,334 $2,180,842 $68,774,012 $1,168,492
2022 $2,906,140 $2,684,518 $62,381,637 $221,622
2021 $4,746,532 $1,920,955 $78,634,349 $2,825,577
2020 $4,037,744 $2,449,547 $71,295,048 $1,588,197
2019 $2,591,627 $1,650,103 $65,893,861 $941,524
2018 $2,118,119 $1,579,084 $55,526,157 $539,035
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