Minneapolis Heart Institute Foundation
Public records show a registered, tax-exempt organization in good standing.
What it says it does
THE MISSION OF THE MINNEAPOLIS HEART INSTITUTE FOUNDATION IS TO IMPROVE THE CARDIOVASCULAR HEALTH OF INDIVIDUALS AND COMMUNITIES THROUGH INNOVATIVE RESEARCH AND EDUCATION.
- Income
- $23.6 million
- Spending
- $19.5 million
- Spent on programs
- 67%
- Reserves
- 6.9 months of spending
- Largest source of income
- donations and private grants, 69%
- Employees
- 143
- Volunteers
- 1,762
- Highest pay
- $624,319, chief executive officer
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 93 out of 100. Higher than 82% of charities in its peer group (medical research, $10m to $100m).
Reserves
28 of 35Spendable reserves would cover 6.9 months of spending.
Debt
20 of 20It owes 14% of what it owns.
Living within its means
15 of 15Income exceeded spending by 18% of income.
Income trend
15 of 15Income rose 65% on the year before.
Spending floor
15 of 1567% of spending went to programs and raising each dollar of donations cost 15 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 45% of charities in its peer group (medical research, $10m to $100m).
Independent board
25 of 2532 of 32 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (2)
- $12.4 million spent. 2024 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 THE MHIF CARDIOVASCULAR IMAGING RESEARCH CENTER, PROVIDED ADVANCED CARDIAC IMAGING ANALYSIS FOR THE PIVOTAL TRIAL. II.MHIF INITIATED FIRST ENROLLMENTS IN THE PRECISE PROCEDURAL AND PCI PLAN (P4) RESEARCH TRIAL EVALUATING THE POTENTIAL FOR ADVANCED CARDIOVASCULAR IMAGING TO ENHANCE PATIENT CARE. PATIENTS RECEIVE CT IMAGING WITH STATE-OF-THE-ART 3D MODELING PROVIDED BY THE TRIAL AS PART OF PRE-PROCEDURE PLANNING TO GUIDE THE PCI USED TO OPEN A BLOCKAGE IN THE HEART. THE P4 RESEARCH TRIAL IS A GLOBAL, MULTICENTER, RANDOMIZED TRIAL SPONSORED BY COREAALST BV TO COMPARE NOVEL CORONARY CT-GUIDED PCI AND STANDARD IVUS-GUIDED PCI. THE FIRST U.S. PROCEDURE FOR THE P4 TRIAL WAS PERFORMED BY DRS. YADER SANDOVAL & EMMANOUIL BRILAKIS, IN COLLABORATION WITH DRS. JOHN LESSER AND JOAO CAVALCANTE, ALL STUDY INVESTIGATORS AT MHIF. III.MHIF EXPERTISE BRINGS LEADERSHIP OPPORTUNITIES ACROSS RESEARCH, INCLUDING FIRST-IN-WORLD OPPORTUNITIES WITH NEW TECHNOLOGIES: MHIF PRINCIPAL INVESTIGATOR DR. JOHN ZAKAIB WAS AMONG THE FIRST TO ENROLL PATIENTS AND REMAINS THE TOP ENROLLER IN THE LEADR CLINICAL STUDY EVALUATING NOVEL CONDUCTION SYSTEM PACING WITH INVESTIGATIONAL OMNIASECURE DEFIBRILLATION LEAD (MEDTRONIC). MHIF TEAM WITH DRS. PAUL SORAJJA, VINAYAK BAPAT AND NADIRA HAMID ENROLLED THE FIRST PATIENT IN THE U.S. VISTA EARLY FEASIBILITY STUDY FOR A NEW TRANSCATHETER TRICUSPID VALVE TECHNOLOGY (VDYNE). MHIF PRINCIPAL INVESTIGATOR DR. JAY TRAVERSE ENROLLED THE FIRST PATIENT IN THE SUPER-SATURATED OXYGEN COMPREHENSIVE OBSERVATIONAL REGISTRY TO PROVIDE EFFICACY EVIDENCE FOR SSO2 THERAPY (ZOLL) TO REDUCE HEART FAILURE AND MORTALITY AFTER LEFT ANTERIOR DESCENDING ST-ELEVATION MYOCARDIAL INFARCTION (LAD STEMI) HEART ATTACKS. IV.MHIF WAS RECOGNIZED AS ONE OF THE 2024 CRF SCIENTIFIC EXCELLENCE TOP 10 (SET-10) FOR OUTSTANDING RESEARCH AND GROUNDBREAKING CONTRIBUTIONS TO INTERVENTIONAL CARDIOVASCULAR MEDICINE, PRESENTED AT TCT 2024. THIS PRESTIGIOUS RECOGNITION REFLECTS THE RELENTLESS DEDICATION, INNOVATION, AND HARD WORK OF MHIF PHYSICIANS AND SCIENTISTS, WHOSE RESEARCH EXEMPLIFIES THE SIGNIFICANT ADVANCEMENTS THEY ARE DRIVING IN THE FIELD OF CARDIOVASCULAR MEDICINE.V.2024 STATS:- 350+ NEW PATIENTS ENROLLED IN RESEARCH; 220+ ACTIVE STUDIES WITH 2200+ PATIENTS AT ANY GIVEN TIME- 3,000+ VISITS WITH PATIENTS WHO HAVE HOPE AND OPTIONS THROUGH RESEARCH - 270 PUBLICATIONS IN LEADING, PEER-REVIEWED JOURNALS (A COMPLETE LISTING OF MHIF PUBLICATIONS IN 2024 IS AVAILABLE AT MPLSHEART.ORG/2024PUBLICATIONS - 90+ POSTERS AND ABSTRACTS ACCEPTED TO NATIONAL AND INTERNATIONAL CONFERENCES - 245 PODIUM PRESENTATIONS AND INVITED TALKS - 15 MEDIA PRESENTATIONS - 90,000+ DOWNLOADS FROM PHYSICIANS AROUND THE WORLD FOR THE SUITE OF MHIF DIGITAL APPLICATIONS AVAILABLE SHARING EXPERTISE AND CLINICAL INSIGHTS IN HEART VALVE AND CORONARY ARTERY DISEASE - 8 MHIF INTERNATIONAL SCHOLARS CONTRIBUTED TO ADVANCING RESEARCH; THESE SCHOLARS ARE PRACTICING MEDICAL DOCTORS FROM AROUND THE WORLD WHO COME TO MHIF TO PARTICIPATE IN RESEARCH IN PARTNERSHIP WITH LEADING MHIF RESEARCH PHYSICIANS - 11,000+ HOURS OF PROFESSIONAL AND COMMUNITY EDUCATION EACH YEAR REACHING 4,000+ ATTENDEES - 5,500+ MEMBERS OF THE COMMUNITY CELEBRATED THE IMPACT OF LIFESAVING RESEARCH AT MHIF'S HEART360 CONCERT FOR WORLD-CLASS HEART RESEARCH WITH BRAD PAISLEY AT THE ARMORY IN MINNEAPOLIS.
- $695,142 spent. 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 STILL VIRTUAL) TO INCREASE AWARENESS, UNDERSTANDING AND MANAGEMENT OF VARIOUS HEART CONDITIONS. MANY OF OUR EVENTS ATTRACTED PARTICIPANTS FROM AROUND THE WORLD.OUR CARDIOVASCULAR GRAND ROUNDS PROGRAM ENSURES ATTENDEES ARE WELL-VERSED IN THE LATEST RESEARCH OUTCOMES AND EVIDENCE-BASED GUIDELINES. THROUGH 32 SESSIONS FEATURING 46 SPEAKERS, MHIF PROVIDED PROFESSIONAL EDUCATION TO MORE THAN 3,200 HEALTH CARE PROFESSIONALS. THESE ACCREDITED EDUCATION ACTIVITIES PROVIDE PHYSICIANS AND OTHER HEALTH CARE PROVIDERS THE OPPORTUNITY TO REVIEW AND DISCUSS THE LATEST DEVELOPMENTS IN CARDIOVASCULAR CARE EVERY MONDAY MORNING DURING OUR GRAND ROUNDS SEASON (SEPTEMBER-MAY).IN 2024, MHIF HOSTED 10 INTERNS FROM AROUND THE COUNTRY WHO CONTRIBUTED TO 10 GROUNDBREAKING RESEARCH PROJECTS. THANKS TO THE GENEROUS SUPPORT FROM INDIVIDUAL DONORS, MHIF OFFERS AN EXCEPTIONAL CLINICAL RESEARCH INTERNSHIP PROGRAM TAILORED FOR UNDERGRADUATE STUDENTS ASPIRING TO A CAREER IN MEDICINE OR PURSUING A PRE-MED TRACK. THIS DISTINCTIVE LEARNING OPPORTUNITY INVOLVES MATCHING INTERNS WITH PHYSICIAN MENTORS WHO OVERSEE INVESTIGATOR-INITIATED RESEARCH PROJECTS. OTHER ASPECTS OF THE INTERNSHIP INCLUDE SHADOWING HOSPITAL ROTATIONS, ATTENDING INSIGHTFUL FIELD TRIPS, ENGAGING IN LUNCH-AND-LEARN SESSIONS WITH ALLINA HEALTH MINNEAPOLIS HEART INSTITUTE PHYSICIANS, PRESENTING THEIR RESEARCH FINDINGS AT AN OPEN-HOUSE, POSTER SESSION. NUMEROUS RESEARCH ENDEAVORS CULMINATE IN INTERNS POTENTIALLY CO-AUTHORING ARTICLES PUBLISHED IN RENOWNED SCIENTIFIC JOURNALS. ADDITIONALLY, SELECT INTERNS MAY HAVE THE CHANCE TO SHOWCASE THEIR WORK AT NATIONAL CARDIOVASCULAR CONFERENCES.SINCE THE INCEPTION OF THE INTERNSHIP PROGRAM, 244 CLINICAL RESEARCH INTERNS HAVE CONTRIBUTED TO 223 POSTERS AND PRESENTATIONS AT NATIONAL SCIENTIFIC SESSIONS, 219 PUBLICATIONS IN PEER-REVIEWED JOURNALS, AND 95% OF FORMER INTERNS ARE PRACTICING PHYSICIANS, IN MEDICAL SCHOOL OR IN A HEALTHCARE RELATED FIELD (59% ARE PRACTICING PHYSICIANS!).
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 1982.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
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