Abbott Northwestern Hospital Foundation
- Assets
- $0.0
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 12/2018
- Data as of
- 04/2022
- EIN
- 04-3643816
Organization Overview
Abbott Northwestern Hospital Foundation is located in Minneapolis, MN. The organization was established in 2018. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Abbott Northwestern Hospital Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 04/2022, Abbott Northwestern Hospital Foundation generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (22.7%) each year. All expenses for the organization totaled $1.4m during the year ending 04/2022. As we would expect to see with falling revenues, expenses have declined by (23.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Abbott Northwestern Hospital Foundation has awarded 71 individual grants totaling $77,203,999. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE, STEWARD, AND DISBURSE FUNDS FOR THE BENEFIT OF ABBOTT NORTHWESTERN HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATIONS: - RESIDENTS, NURSES AND STAFF EDUCATION, TRAINING, AND CERTIFICATION TO ENHANCE THEIR PATIENT CARE SKILLS. - OPERATIONAL SUPPORT FOR THE VIRGINIA PIPER CANCER INSTITUTE. - EMERGENCY FINANCIAL ASSISTANCE FOR PATIENTS TO HELP WITH MEDICAL AND EVERYDAY EXPENSES. - EQUIPMENT FUNDING FOR PATIENT NAIL CARE, SAFETY RESTRAINTS AND ROOM MAINTENANCE - CARING FOR COLLEAGUES PROGRAM TO ASSIST STAFF IN FINANCIAL EMERGENCY SITUATIONS.
RESEARCH: - AN INTERN RESEARCH PROGRAM TO BUILD SKILLS AND GROWTH KNOWLEDGE IN CARDIOLOGY AND RESEARCH; SUPPORT INTERNS IN EVALUATING THEIR ACADEMIC AND CAREER GOALS; AND DEVELOP PROFESSIONAL SKILLS. - A REGISTRY STUDY TO EVALUATE THE SAFETY AND EFFICACY OF IMPLANTABLE LEADLESS PACEMAKERS AND DEFIBRILLATORS. CONSOLIDATE AND SHARE DATA TO ASSESS THE RELIABILITY, LONGEVITY, AND CLINICAL COMPLICATIONS ASSOCIATED WITH LEADLESS PACEMAKERS AND DEFIBRILLATORS FROM MULTIPLE MANUFACTURERS TO HELP DETERMINE THE MOST VIABLE OPTIONS FOR CARDIOVASCULAR PATIENTS.
ABBOTT NORTHWESTERN'S PHILLIPS EYE INSTITUTE: - FUNDING TO OFFSET THE COST OF PROVIDING TRANSPORTATION TO PATIENTS WHO HAVE LIMITED OR NO OTHER MEANS OF GETTING TO ANW-PEI FOR EYE SURGERY AND OTHER EYE RELATED APPOINTMENTS. - PROVIDING VISION SCREENING TO COMMUNITY SCHOOL CHILDREN. WORK WITH FAMILIES TO IDENTIFY AND REMOVE BARRIERS TO RECEIVE TREATMENT. - THE KIRBY PUCKETT EYE MOBILE IS A MOBILE EYE CLINIC THAT TRAVELS TO MINNEAPOLIS AND ST. PAUL PUBLIC SCHOOLS TO PROVIDE EYE EXAMS AS WELL AS COMMUNITY VISION SCREENING SERVICES FOR CHILDREN AND ADULTS AT COMMUNITY OR SCHOOL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Meyer Director/president | OfficerTrustee | 40 | $0 |
Richard Magnuson CFO | Officer | 2 | $0 |
Lee Arostegui MD Director | Trustee | 2 | $0 |
Jeanne Cook Director | Trustee | 2 | $0 |
Martha Head Director | Trustee | 2 | $0 |
Todd Lifson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $354,421 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $621,694 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $976,115 |
| Total Program Service Revenue | $0 |
| Investment income | $306,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $81,468 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,364,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,066,430 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,569 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,957 |
| Advertising and promotion | $0 |
| Office expenses | $147 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $49 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,868 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,420,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Abbott Northwestern Hospital Foundation has awarded $1,066,430 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: EMPLOYEE, STAFF AND RESIDENT RESEARCH, EDUCATION AND TRAINING. | $355,272 |
Minneapolis, MN PURPOSE: GENERAL OPERATION SUPPORT INCLUDING VIRGINIA PIPER CANCER INSTITUTE PATIENT CARE AND TRANSPORTATION SERVICES, RESIDENT, ADMINISTRATION, SOCIAL WORKER AND COMMUNITY SERVICES PROGRAMS. | $272,552 |
Minneapolis, MN PURPOSE: FUNDING FOR CARDIOVASCULAR RESEARCH INTERN PROGRAM. | $200,000 |
Minneapolis, MN PURPOSE: FUNDING TO SUPPORT ABBOTT'S PHILLIPS EYE INSTITUTE ACCESSIBILTY PROGRAMS. | $98,024 |
Minneapolis, MN PURPOSE: FUNDING TO SUPPORT FREE CARE PROGRAMS FOR PATIENTS TO HELP WITH MEDICAL AND RECOVERY BILLS. | $93,428 |
Minneapolis, MN PURPOSE: EQUIPMENT FUNDING FOR PATIENT NAIL CARE, SAFETY RESTRAINTS AND ROOM MAINTENANCE. | $21,294 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Abbott Northwestern Hospital Foundation has recieved totaling $628,879.
| Awarding Organization | Amount |
|---|---|
Minneapolis Foundation Minneapolis, MN PURPOSE: HEALTH | $435,266 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $60,100 |
Omaha Community Foundation Omaha, NE PURPOSE: Philanthropy, Voluntarism, Grantmak | $25,000 |
Victor Foundation Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT/ANNUAL GIFT | $25,000 |
American Heart Association Inc Dallas, TX PURPOSE: HYPERTENSION & CVD INITIATIVE | $20,000 |
Victor Foundation Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT/ANNUAL GIFT | $17,000 |
Endowment Analysis
| Beg. Balance | $57,520,210 |
| Earnings | -$1,630,258 |
| Other Expense | $605,209 |
| Ending Balance | $55,284,743 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of St Vincent De Paul- Twin Cities Minneapolis, MN | $592,562 | $17,408,500 |
Northland Foundation Duluth, MN | $110,895,270 | $27,913,272 |
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
Steve Stricker American Family Insurance Foundation Inc Madison, WI | $5,745,517 | $4,719,862 |
Hope Gospel Mission Inc Eau Claire, WI | $10,860,307 | $6,194,588 |
Community Foundation Of Johnson Coralville, IA | $45,550,796 | $9,673,780 |
The American Center For Philanthropy Inc Northfield, MN | $38,336,369 | $9,301,432 |
Lyon County Riverboat Foundation Inc Rock Rapids, IA | $2,226,608 | $3,365,358 |
Morgan Memorial Foundation Inc Morgan, MN | $3,017,509 | $3,804,451 |
Believers Stewardship Services Inc Dubuque, IA | $18,487,302 | $3,760,622 |
Nexus Community Partners Saint Paul, MN | $15,080,839 | $10,294,112 |
Caseys Charities Ankeny, IA | $167,680 | $3,051,265 |