Hennepin Faculty Associates

Nonprofit profile at a glance

EIN
411461900
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Minneapolis, MN, USA
Phone
6128733046
Rating confidence
Limited
Sector
Educational Services and Schools - Other

Reported finances

Revenue
$638,300
Expenses
$708,872
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

4 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Form 990, part iii, line 1 hennepin faculty associates (hfa) is an academic multispecialty physician group practicing primarily at hennepin healthcare system, inc. D/b/a/ hennepin county medical center. Hfa is a Minnesota not-for-profit corporation that operates exclusively for charitable, educational and scientific purposes.

What it reported doing in 2012

Since january 1, 2012, hennepin faculty associates and hennepin healthcare system, inc. Have been functionally integrated. All employees of hennepin faculty associates became employees of hennepin healthcare system, inc. On that date. Since january 1, 2012, hennepin faculty associates has had no employees and has provided no new healthcare services. The remaining business affairs (collections of accounts receivable and payment of accounts payable) of hennepin faculty associates have been conducted by employees of hennepin healthcare system, inc. The affairs of hennepin faculty associates having now been largely concluded, the parties desire to merge hennepin faculty associates and hennepin healthcare system, inc. Into a single surviving corporation. The effective date of that merger shall be the close of business on december 31, 2012. The surviving corporation, hennepin healthcare system, inc. Shall then have all the rights and obligations with respect to the business of hennepin faculty associates that are described in Minnesota statutes, section 317a.641, subd.2.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 28
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.1%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 19.6%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -73.9% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -87.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $709K in reported program spending
  • Leadership: top reported pay $524K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 3 filing years from 2010 to 2012
  • Related organizations: 2 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.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.