Grand Itasca Foundation

Nonprofit profile at a glance

EIN
411560554
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Grand Rapids, MN, USA
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Hospital, General

Official website

Reported finances

Revenue
$272,620
Expenses
$347,207
Assets
$1,433,236
Liabilities
$272,436

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Highest reported compensation

  • Jean MacDonell (Ex-Officio): $658,456 total reported compensation
  • Rose Villenueve GNP (Co-Chair): $294,799 total reported compensation
  • Brianne Wagner (Foundation Director): $186,386 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To build philanthropic partnerships to support the mission of Grand Itasca Clinic and Hospital.

What it reported doing in 2024

Grand Itasca Foundation enhances and helps to guarantee the delivery of contributions and provide financial support to Grand Itasca Clinic and Hospital. In 2024 Grand Itasca Foundation awarded $336,935 in total grant funding to organizations and individuals. This includes $290,224 to Grand Itasca Clinic and Hospital for patient focused projects, eight individual scholarship awards totaling $33,000 and care to share grants to 12 recipients for a total of $6,000, and $7,711 patient crisis grants where 198 recipients received financial help.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 75
  • Accountability: 79
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.7%; rating input score 100; 60th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 73.3%; rating input score 73; 19th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -27.4%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 4.13; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 55.5%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 6.7% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97% of spending went to programs
  • Governance: 11 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $337K in reported program spending
  • Leadership: top reported pay $658K · 16 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 11/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.