Hfii Corporation

Nonprofit profile at a glance

EIN
900840304
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3138768714
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Biomedicine, Bioengineering Research

Reported finances

Revenue
$2,898
Expenses
$3,628
Assets
$1,509
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • SCOTT A DULCHAVSKY MD PHD (TRUSTEE - PRESIDENT)

Highest reported compensation

  • ROBERT G RINEY (TRUSTEE -CHAIR): $7,081,174 total reported compensation
  • ROBIN S DAMSCHRODER (TRUSTEE-TREASURER): $3,410,190 total reported compensation
  • STEVEN N KALKANIS MD (TRUSTEE): $2,905,207 total reported compensation

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

Overview

Mission

The henry ford innovation institute (hfii) was established by henry ford health system dba henry ford health (hf health) to reflect its commitment to innovation which serves as both a physical and virtual resource. It provides hf health innovators access to an array of intellectual asset-related resources and programs that include technological opportunity assessment, design services for prototypes, seminars designed to convey opportunities, programs aimed at developing specific medical products and broad educational offerings in the realms of translational medicine and the entrepreneurial arts.hfii's operating philosophy is simple: use innovation to improve healthcare and the patient experience. The institute is organized as an independent scientific research and educational entity, allowing it to operate flexibly and rapidly.

What it reported doing in 2024

Performed scientific research for public benefit through novel treatments, cures and better ways to provide medical care. These results will be published in forms that are assessable to the interested public in a nondiscriminatory fashion.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 58
  • Accountability: 37
  • Sustainability: 30
  • Growth: 0

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -25.2%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 18,869.6%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -51.8% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -60.9% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -56.8% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 6 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4K in reported program spending
  • Leadership: top reported pay $7.1M · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 55 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 — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.