Worthington Regional Heath Care Foundation Inc
- Assets
- $7.5m
- Revenue
- $804.7k
- Investments
- $150.3k
- Employees
- 1
- Location
- Worthington, MN
- Founding
- 11/2017
- Data as of
- 12/2021
- EIN
- 41-1456886
Organization Overview
Worthington Regional Heath Care Foundation Inc is located in Worthington, MN. The organization was established in 2017. 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. Worthington Regional Heath Care Foundation Inc 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 12/2021, Worthington Regional Heath Care Foundation Inc generated $804.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.3% each year . All expenses for the organization totaled $467.9k during the year ending 12/2021. While expenses have increased by 1.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Worthington Regional Heath Care Foundation Inc has awarded 50 individual grants totaling $2,321,749. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS FORMED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, AND IN CONNECTION THEREWITH, EXCLUSIVELY FOR THE HEALTH, WELLNESS AND EDUCATION OF THE RESIDENTS OF WORTHINGTON AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT ALLOCATIONS ARE MADE EXCLUSIVELY TO ENTITIES IN THE WORTHINGTON REGION FOR THEIR HEALTH, WELLNESS, EDUCATION, EQUIPMENT AND CAPITAL NEEDS. THESE ENTITIES STRIVE TO IMPROVE THE DELIVERY OF HEALTH CARE SERVICES TO PERSONS IN THE RELATED SERVICE AREA.
SCHOLARSHIPS ARE AWARDED TO INDIVIDUALS ENTERING/SEEKING ADVANCEMENT IN THE HEALTH CARE FIELD. APPLICANTS ARE DETERMINED THROUGH THEIR AFFILIATION WITH THE WORTHINGTON AREA AND ENROLLMENT IN A PROGRAM DEFINED TO BENEFIT THE INDIVIDUAL FOR THE ADVANCEMENT IN HIS/HER HEALTH CARE PROFESSION. 23,160 SCHOLARSHIPS WERE AWARDED IN THE CURRENT YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Degroot Chair | OfficerTrustee | 1.5 | $0 |
Jenny Andersen Secretary/tr | OfficerTrustee | 1.5 | $0 |
Brian Larsen Vice Chair | OfficerTrustee | 1.5 | $0 |
Mike Fury Director | Trustee | 1 | $0 |
Laura Hoffman Director | Trustee | 1 | $0 |
Julie Lopez Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $14,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $133,747 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $147,747 |
| Total Program Service Revenue | $0 |
| Investment income | $150,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $497,049 |
| Net Income from Fundraising Events | $8,940 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $804,652 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $265,026 |
| Grants and other assistance to domestic individuals. | $23,160 |
| 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 | $82,685 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,500 |
| Payroll taxes | $6,383 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $69,179 |
| Fees for services: Other | $3,500 |
| Advertising and promotion | $457 |
| Office expenses | $1,841 |
| Information technology | $841 |
| Royalties | $0 |
| Occupancy | $3,600 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8 |
| Insurance | $2,807 |
| All other expenses | $0 |
| Total functional expenses | $467,931 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,420 |
| Savings and temporary cash investments | $22,722 |
| 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 | $1,376 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,299,580 |
| Investments—other securities | $150,290 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,484,388 |
| Accounts payable and accrued expenses | $2,433 |
| 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 | $2,838 |
| Total liabilities | $5,271 |
| Net assets without donor restrictions | $7,479,117 |
| 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 | $7,484,388 |
Grants Awarded
Over the last fiscal year, Worthington Regional Heath Care Foundation Inc has awarded $256,361 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Worthington, MN | | $103,425 |
CITY OF ROUND LAKE PURPOSE: GENERAL SUPPORT | $46,346 |
Worthington, MN PURPOSE: GENERAL SUPPORT | $45,000 |
Sioux Falls, SD | | $16,380 |
ISD 511 PURPOSE: GENERAL SUPPORT | $15,000 |
Worthington, MN | | $12,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Worthington Regional Heath Care Foundation Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thedacare Family Of Foundations Inc Appleton, WI | $89,256,611 | $25,439,996 |
The Hormel Foundation Austin, MN | $1,540,722,314 | $34,366,937 |
South Dakota Community Foundation Pierre, SD | $805,282,495 | $215,504,617 |
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 |