Hennepin Healthcare

What it reported doing in 2024

Patient care: hennepin healthcare system inc, (hereafter hhs) is a nationally recognized healthcare system that includes a comprehensive clinic system, level 1 adult and pediatric trauma center, and medical center with the largest emergency department in Minnesota, ems service, and a nurse home visiting program. Hhs is also recognized nationally for leadership in medical education, emergency preparedness, research, and compassionate care in multiple specialties. Hhs operated a hospital with licensed capacity of 894 beds and 65 bassinets, 469 beds and 65 bassinets of which were available, as well as 10 primary care clinics and 34 specialty care clinics, and employed approximately 975 providers, 247 residents, and 160 pharmacists in 9 pharmacy locations. Hhs is a major employer and economic engine in hennepin county of Minnesota. The clinic and specialty center (csc) outpatient facility in downtown minneapolis reaffirms hennepin healthcare systems inc.'s (hhs) commitment to partnering with its community, patients, and their families to ensure access to outstanding care for everyone, while improving health and wellness through teaching, patient and community education, and research. Hhs invests in training and supporting its team members to serve the entire community in the belief that equity is essential for optimal health outcomes. Hhs works to improve the ability of historically marginalized and socioeconomically disadvantaged persons to receive the resources needed to be as healthy as possible. Hhs partners with the community, both internal and external, to support achieving their fullest health potential by actively eliminating barriers to access due to racism, or any other consequence of social position or socially influenced circumstances experienced by black, indigenous, and people of color, and those who are economically disadvantaged, uninsured, indigent, and members of other vulnerable populations.

Financial Efficiency

• Mission deployment rate: 89.5%; rating input score 90
• Program expense ratio: 89.2%; rating input score 89
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.3%; rating input score 93; 21st percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 12.5%; rating input score 12; 6th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 75%; rating input score 75; 24th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -0.6%; rating input score 24; 24th percentile among comparable filings
• Total-asset coverage ratio: 0.48; rating input score 17; 17th percentile among comparable filings
• Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
• Officer compensation ratio: 0.7%; rating input score 80; 80th percentile among comparable filings

Growth

• Program expense growth: 7.6% per year; rating input score 100; 61st percentile among comparable filings
• Revenue growth: 6.8% per year; rating input score 100; 58th percentile among comparable filings
• Asset growth: 4.9% per year; rating input score 100; 36th percentile among comparable filings