MINNEAPOLIS HEART INSTITUTE FOUNDATION Charity Report

Public IRS 990 nonprofit record

MINNEAPOLIS HEART INSTITUTE FOUNDATION

EIN 41-1426406 · Medical Research (H43Z)

What they do

THE MISSION of THE MINNEAPOLIS HEART INSTITUTE FOUNDATION is to IMPROVE THE CARDIOVASCULAR HEALTH of INDIVIDUALS and COMMUNITIES THROUGH INNOVATIVE RESEARCH and EDUCATION.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $67.20 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders44 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

55.34%of revenue went to mission work67.2% of expenses · Program services

10.39%of revenue went to fundraising12.6% of expenses

$82.33spent for every $100 of revenueRevenue covered expenses this year.

16.60%of revenue went to management and office costs20.2% of expenses

$3.83in assets for every $1 spent this yearSome assets cannot be spent right away.

68.6%of its money came from giftsOther money may come from services or investments.

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What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $624,319 for KRISTINE FORTMAN (CHIEF EXECUTIVE OFFICER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$23,641,948

Mission workProgram services$13,083,40655.34% of revenue67.2% of expenses

ManagementOffice and general costs$3,925,66816.60% of revenue20.2% of expenses

FundraisingAsking for donations$2,455,39710.39% of revenue12.6% of expenses

Revenue left after expensesReported annual surplus$4,177,47717.67% of revenueShown in gray on the chart

Total expenses$19,464,47182.33% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 67.2% mission · 20.2% management · 12.6% fundraisingTotal expenses: 82.33% of revenue

2023Expense mix: 67.2% mission · 21.8% management · 11.0% fundraisingTotal expenses: 115.44% of revenue

2022Expense mix: 67.4% mission · 22.0% management · 10.6% fundraisingTotal expenses: 62.60% of revenue

2021Expense mix: 67.2% mission · 21.8% management · 11.0% fundraisingTotal expenses: 71.84% of revenue

2020Expense mix: 68.0% mission · 22.4% management · 9.6% fundraisingTotal expenses: 64.05% of revenue

2019Expense mix: 69.2% mission · 21.7% management · 9.1% fundraisingTotal expenses: 66.38% of revenue

2018Expense mix: 68.5% mission · 21.3% management · 10.2% fundraisingTotal expenses: 90.13% of revenue

2017Expense mix: 67.6% mission · 22.5% management · 9.9% fundraisingTotal expenses: 87.16% of revenue

Money in and money out

Revenue$23,641,948

Expenses$19,464,471

Annual surplus $4,177,477 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$13,083,406 · 67.2% of expenses

Management and office costs$3,925,668 · 20.2% of expenses

Fundraising$2,455,397 · 12.6% of expenses

See all reported dollar amounts

Revenue$23,641,948

Expenses$19,464,471

Assets$74,457,179

Income$27,695,433

Contributions$16,210,682

Mission work (program services)$13,083,406

Fundraising$2,455,397

Grants given$1,337,495

Average grant$191,071

Management and general$3,925,668

Executive compensation (total)$1,074,212

Stocks and bonds$34,768,601

Accounting fees$70,093

Investing fees$88,902

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

KRISTINE FORTMANCHIEF EXECUTIVE OFFICER · 50 hrs/week $624,319Base $460,662 · Other $163,657

JESSE HICKSVICE PRESIDENT-ADVANCEMENT · 40 hrs/week $314,069Base $237,718 · Other $76,351

CINDY RESMANVICE PRESIDENT - MARKETING & COMMUNICATIONS · 40 hrs/week $275,815Base $197,072 · Other $78,743

ROSS GARBERICHVICE PRESIDENT - SCIENTIFIC SERVICES · 40 hrs/week $273,763Base $193,538 · Other $80,225

CHARLES ZAUGGCHIEF FINANCIAL OFFICER · 40 hrs/week $264,606Base $206,389 · Other $58,217

LISA TINDELLVICE PRESIDENT - RESEARCH · 40 hrs/week $261,283Base $203,501 · Other $57,782

NANCY WILSONDIRECTOR OF ADVANCEMENT · 40 hrs/week $220,604Base $165,227 · Other $55,377

LARISSA STANBERRYDIRECTOR OF DATA SCIENCE · 40 hrs/week $216,972Base $184,804 · Other $32,168

BAVANA RANGANPROGRAM DIRECTOR - CCAD · 40 hrs/week $214,391Base $183,887 · Other $30,504

KRISTIN LAMBRECHTPROGRAM DIRECTOR - CIRC · 40 hrs/week $209,386Base $164,541 · Other $44,845

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (44)

KRISTINE FORTMANCHIEF EXECUTIVE OFFICER

JESSE HICKSVICE PRESIDENT-ADVANCEMENT

CINDY RESMANVICE PRESIDENT - MARKETING & COMMUNICATIONS

ROSS GARBERICHVICE PRESIDENT - SCIENTIFIC SERVICES

CHARLES ZAUGGCHIEF FINANCIAL OFFICER

LISA TINDELLVICE PRESIDENT - RESEARCH

NANCY WILSONDIRECTOR OF ADVANCEMENT

LARISSA STANBERRYDIRECTOR OF DATA SCIENCE

BAVANA RANGANPROGRAM DIRECTOR - CCAD

KRISTIN LAMBRECHTPROGRAM DIRECTOR - CIRC

RETU SAXENA MDDIRECTOR

LORI MILBRANDTSECRETARY

MARC NEWELL MDDIRECTOR

MICHAEL CUMMINGS MDDIRECTOR

MICHAEL PETERSON MDDIRECTOR

MOSI BENNETT MDDIRECTOR

PATRICE KLOSSDIRECTOR

KEVIN HARRIS MDDIRECTOR

RICHARD MEYERDIRECTOR

SCOTT SHARKEY MDDIRECTOR

SHARON HAWKINSDIRECTOR

STEVEN BRADLEYDIRECTOR

THOMAS GUNDERSONCHAIR

TIM THORPEDIRECTOR

WILLIAM KATSIYIANNIS MDDIRECTOR

GINNY KIRBYDIRECTOR

ARIEL JOHNSON PHDDIRECTOR

BEN BACHE-WIIG MDDIRECTOR

BOBBY STEFFEN MDDIRECTOR

BREE WILLIAMSONDIRECTOR

CARMEN VOLKARTTREASURER

CONLEY BROOKS JRDIRECTOR

DAVID HURRELL MDDIRECTOR

DOMINICA TALLARICODIRECTOR

FRANCES HOFFMANDIRECTOR

KRISTIN BOWLDSDIRECTOR

GREG GRAVESVICE CHAIR

JAY TRAVERSE MDDIRECTOR

JEFFREY STEINLEPAST CHAIR

JIM KINGDIRECTOR

JOHN MACKDIRECTOR

JOSEPH SCHWARTZDIRECTOR

JOSH HOWELLDIRECTOR

ALLISON OCONNORDIRECTOR

About this charity

Recognized since: January 1982
Location: 920 E 28TH ST STE 100, MINNEAPOLIS, MN 55407-1191
County: Hennepin
In care of: CHARLES ZAUGG
Primary officer: CHARLES ZAUGG, CHIEF FINANCIAL OFFICER

How to reach them

WebsiteVisit the charity’s website Emailinfo@mhif.org Phone(612) 863-3833

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: CLIFTONLARSONALLEN LLP
NTEE classification: Medical Research (H43Z)
Grant-giving organization: Yes