Portico Healthnet
- Assets
- $1.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 29
- Location
- St Paul, MN
- Founding
- 08/1995
- Data as of
- 12/2021
- EIN
- 41-1814659
Organization Overview
Portico Healthnet is located in St Paul, MN. The organization was established in 1995. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Portico Healthnet employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portico Healthnet 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, Portico Healthnet generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PORTICO HEALTHNET ADVANCES EQUITABLE ACCESS TO HEALTH COVERAGE FOR ALL MINNESOTANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUTREACH AND ENROLLMENT ASSISTANCE/CERTIFIED NAVIGATOR PROGRAM: SINCE 1995, PORTICO HAS OFFERED HEALTH INSURANCE ELIGIBILITY SCREENING; PERSONALIZED APPLICATION AND ENROLLMENT ASSISTANCE; AND CONNECTION TO COMMUNITY RESOURCES. PORTICO'S CERTIFIED MNSURE NAVIGATORS STAY WITH CLIENTS FROM THE BEGINNING OF THE APPLICATION UNTIL THEY ARE SUCCESSFULLY ENROLLED, ADVOCATING FOR THEM WITH COUNTY AND STATE AGENCIES WHEN NEEDED, AND PROVIDING TRANSLATION AND INTERPRETER SERVICES. PORTICO PARTNERS WITH COUNTIES, FOOD SHELVES, SCHOOLS, WORKFORCE CENTERS, AND OTHER SOCIAL SERVICE ORGANIZATIONS TO REACH OUT TO CLIENTS WHO MAY NEED OUR HELP AND TO REFER CLIENTS TO SERVICES. ANNUALLY, PORTICO SCREENS OVER 11,000 UNINSURED AND UNDERINSURED INDIVIDUALS FOR ELIGIBILITY UNDER VARIOUS HEALTH CARE COVERAGE OPTIONS AND ASSISTS WITH APPLICATIONS FOR MEDICAL ASSISTANCE, MINNESOTACARE AND OTHER STATE-FUNDED PUBLIC ASSISTANCE PROGRAMS. ADDITIONALLY, PORTICO PROVIDES MORE THAN 1,500 REFERRALS TO MEDICAL CLINICS, DENTAL CLINICS AND OTHER COMMUNITY RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meghan Kimmel President | Officer | 40 | $125,061 |
Molly Mccormick COO | Officer | 40 | $110,320 |
Kimberly Parrish Chair | OfficerTrustee | 2 | $0 |
Veena Iyer Vice Chair | OfficerTrustee | 2 | $0 |
Joanne Sunquist Treasurer | OfficerTrustee | 2 | $0 |
Tobi Tanzer Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $983,901 |
| All other contributions, gifts, grants, and similar amounts not included above | $774,308 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,758,209 |
| Total Program Service Revenue | $516,878 |
| Investment income | $367 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,286,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $245,974 |
| Compensation of current officers, directors, key employees. | $73,758 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,094,442 |
| Pension plan accruals and contributions | $26,820 |
| Other employee benefits | $212,848 |
| Payroll taxes | $87,455 |
| Fees for services: Management | $1,700 |
| Fees for services: Legal | $5,586 |
| Fees for services: Accounting | $9,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,277 |
| Advertising and promotion | $0 |
| Office expenses | $32,662 |
| Information technology | $47,761 |
| Royalties | $0 |
| Occupancy | $137,324 |
| Travel | $244 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,454 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,971 |
| Insurance | $9,323 |
| All other expenses | $6,578 |
| Total functional expenses | $2,025,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $830,402 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $197,641 |
| Accounts receivable, net | $15,005 |
| 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 | $54,952 |
| Net Land, buildings, and equipment | $42,712 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $30,263 |
| Other assets | $0 |
| Total assets | $1,170,975 |
| Accounts payable and accrued expenses | $132,942 |
| 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 | $132,942 |
| Net assets without donor restrictions | $710,533 |
| Net assets with donor restrictions | $327,500 |
| 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 | $1,170,975 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Portico Healthnet has recieved totaling $375,656.
| Awarding Organization | Amount |
|---|---|
Group Health Plan Inc Minneapolis, MN PURPOSE: PROGRAM SUPPORT | $75,000 |
Ucare Foundation Minneapolis, MN PURPOSE: FINANCIAL SUPPORT TO PREPARE FOR THE INFLUX OF MEDICAL ASSISTANCE AND MINNESOTACARE ENROLLEES WHO WILL NEED ASSISTANCE RENEWING THEIR COVERAGE WHEN THE CURRENT PUBLIC HEALTH EMERGENCY ENDS. | $75,000 |
Delta Dental Of Minnesota Minneapolis, MN PURPOSE: INSURANCE AND DENTAL CARE COORDINATION FOR LOW-INCOME INDIVIDUALS AND FAMILIES | $50,000 |
Stratacor Minneapolis, MN PURPOSE: INSURANCE AND DENTAL CARE COORDINATION FOR LOW-INCOME INDIVIDUALS AND FAMILIES | $50,000 |
North Memorial Health Care Robbinsdale, MN PURPOSE: TO SUPPORT CHARITABLE PURPOSE OF ORGANIZATION | $50,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Francis Medical Center Breckenridge, MN | $127,422,671 | $26,046,876 |
Prairie Ridge Hospital And Health Services Inc Elbow Lake, MN | $34,170,156 | $18,758,462 |
Christian Unity Hospital Corporation Grafton, ND | $38,113,224 | $23,246,956 |
Madelia Health Madelia, MN | $18,855,648 | $18,531,553 |
Alegent Health Mercy Hospital Corning, IA | $35,243,438 | $19,692,764 |
Aspirus Stanley Hospital & Clinics Inc Wausau, WI | $10,927,612 | $20,966,048 |
Kittson Memorial Hospital Association Hallock, MN | $15,018,635 | $22,486,843 |
Lake View Memorial Hospital Inc Two Harbors, MN | $43,364,236 | $20,715,565 |
Hazen Memorial Hospital Association Hazen, ND | $41,240,273 | $17,593,721 |
Lakewood Health Center Baudette, MN | $20,759,689 | $14,544,176 |
P R Health Corporation Park River, ND | $28,455,136 | $24,744,336 |
Northern Pines Medical Center Aurora, MN | $24,849,895 | $19,051,893 |