Minneapolis Heart Institute Foundation
Minneapolis Heart Institute Foundation reported $23.6 million in revenue and $19.5 million in expenses for calendar year 2024. Of every $100 it spent, $67.22 went to program services, $20.17 to management and general costs and $12.61 to fundraising. Its largest source of revenue was contributions and grants: 68.6% of the total. The highest compensation it reported for one person was $624,319 (CHIEF EXECUTIVE OFFICER). 27 people received more than $100,000 in reportable compensation. Revenue rose 29% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $19MFor context, the median across 169 covered medical research charities: $87.02 programs, $12.87 management, $0.11 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $24M- Contributions & grants (non-government)$67.11 $16M
- Program service revenue$27.28 $6.6M
- Investment income$5.61 $1.4M
Other revenue was negative: −$513K. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 67.2% | 83.9% |
| Management & general Part IX 25(C) ÷ 25(A) | 20.2% | 12.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 12.6% | 0.1% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.15 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 68.6% | 72.7% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 27.9% | 5.8% |
| Highest reported compensation Part VII-A, columns D–F | $624,319 | $628,890 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.21% | 1.94% |
| People paid over $100,000 Part VII, line 2 | 27 | 18 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 39.4 | 13.3 |
| Independent voting board members Part VI 1a–1b | 32 of 32 | 93.8% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expense2024 mhif research accomplishmentsi.mhif reached an important research milestone with U.S. Fda approval of the triclip (abbott), a non-surgical, transcatheter edge-to-edge repair system. Mhif was the top enroller - enrolling the first and largest number of patients of all 68 clinical sites participating in the triluminate pivotal trial in the U.S., canada and europe, led by paul sorajja, md, the roger l. And lynn c. Headrick family chair of the mhif valve science center and global principal investigator for the pivotal trial. The mhif imaging core lab, led by joao cavalcante, md, director of…
2024 mhif education highlightsequal to our commitment to research is our dedication to sharing the learnings from research through education, allowing for local, national and international impact as we challenge and advance the standard of care for all patients. Mhif proudly shared the details of our research through 600+ publications, presentations and abstracts at national and international conferences. We published 270 manuscripts in peer-reviewed journals, sharing learnings from world-class cardiovascular research. We also offered various public and professional events (many of which were…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CHIEF EXECUTIVE OFFICER Officer, 50.00 hrs/week | $460,662 | $0 | $163,657 | $624,319 |
| VICE PRESIDENT-ADVANCEMENT Key employee, 40.00 hrs/week | $237,718 | $0 | $76,351 | $314,069 |
| VICE PRESIDENT - MARKETING & COMMUNICATIONS Highest compensated employee, 40.00 hrs/week | $197,072 | $0 | $78,743 | $275,815 |
| VICE PRESIDENT - SCIENTIFIC SERVICES Key employee, 40.00 hrs/week | $193,538 | $0 | $80,225 | $273,763 |
| CHIEF FINANCIAL OFFICER Officer, 40.00 hrs/week | $206,389 | $0 | $58,217 | $264,606 |
| VICE PRESIDENT - RESEARCH Key employee, 40.00 hrs/week | $203,501 | $0 | $57,782 | $261,283 |
| DIRECTOR OF ADVANCEMENT Highest compensated employee, 40.00 hrs/week | $165,227 | $0 | $55,377 | $220,604 |
| DIRECTOR OF DATA SCIENCE Highest compensated employee, 40.00 hrs/week | $184,804 | $0 | $32,168 | $216,972 |
27 people received more than $100,000 in reportable compensation from Minneapolis Heart Institute Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.5M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b32 · 32 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5143
- Volunteers Part I, line 61,762
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| ATMOSPHERE COMMERCIAL INTERIORS Office remodeling | $270,246 |
| CLIFTONLARSONALLEN Audit and tax services | $100,405 |
Individuals listed as contractors are left out. 2 contractors were paid more than $100,000 in all.
Private foundation grants it received
18 private foundations reported grants to Minneapolis Heart Institute Foundation totaling $381K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Minneapolis Heart Institute Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Minneapolis Heart Institute Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Minneapolis Heart Institute Foundation spent in 2024, $67.22 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
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- Institute for Neurodegenerative DisordersNew Haven, CT · revenue $22M · programs 94.1% · 2024
- Altius Institute for Biomedical SciencesSeattle, WA · revenue $24M · programs 80.4% · 2025
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All medical research charities · Largest charities in Minnesota
Questions people ask
How much of Minneapolis Heart Institute Foundation's spending goes to programs?
In calendar year 2024, Minneapolis Heart Institute Foundation reported that 67.2% of its $19.5 million in expenses went to program services, 20.2% to management and general and 12.6% to fundraising (Form 990, Part IX).
How much does Minneapolis Heart Institute Foundation pay its top executive?
The largest total compensation Minneapolis Heart Institute Foundation reported for one person in calendar year 2024 was $624,319, for the role of CHIEF EXECUTIVE OFFICER (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Minneapolis Heart Institute Foundation get its money?
Of $23.6 million in revenue in calendar year 2024, 68.6% came from contributions and grants and 27.9% from program service revenue (Form 990, Part VIII).
Is Minneapolis Heart Institute Foundation a registered charity?
The IRS lists EIN 41-1426406 as a 501(c)(3) organization (hospital or medical research organization), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202512819349301321 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202422849349300027 · read the filing
- 2022: Form 990 for calendar year 2022, object 202302769349301170 · read the filing
- 2021: Form 990 for calendar year 2021, object 202212989349301511 · read the filing
- 2020: Form 990 for calendar year 2020, object 202132709349300118 · read the filing
- 2019: Form 990 for calendar year 2019 (amended), object 202003219349302790 · read the filing
All filings for EIN 41-1426406: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.