Minneapolis Radiology and Vascular Research Foundation

Nonprofit profile at a glance

EIN
203502241
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2010
Location
Plymouth, MN, USA
Phone
7633982208
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Medical Disciplines Research

Reported finances

Revenue
$526,554
Expenses
$435,096
Assets
$543,424
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • SCHULTZ SCOTT MD (PRESIDENT)
  • MCMILLAN WILLIAM MD (VICE PRESIDENT - SECRETARY)

Highest reported compensation

  • STONE JOAN (CFO): $20,824 total reported compensation
  • SCHULTZ SCOTT MD (PRESIDENT): $9,300 total reported compensation
  • MCMILLAN WILLIAM MD (VICE PRESIDENT - SECRETARY): $4,800 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 minneapolis radiology and vascular research foundation's purposes are charitable, scientific and educational; primarily to conduct and support research into diagnostic, interventional and surgical approaches for the treatment of vascular disease and future advances in diagnostic imaging. The foundation also provides grants to fellows to attend and participate in the conference.

What it reported doing in 2024

Medical education - conducted 17th vascular and endovascular surgery conference in 2025. Unlike other vascular meetings and courses, our conference: 1) addressed the rapid growth and technological innovation from the perspective of the practicing vascular specialist, 2) provided up-to-date and efficient reviews of vascular practice core areas, 3) pitfalls associated with newer procedures, and 4) addressed critical practice management changes and opportunities associated with new technologies. Attendees actively participated in discussion, hands-on simulator workshops, and offer one another insight and information surrounding the covered topics.

Operating model

Revenue model
Earned-program. 77% of the money available for current operations came from fees and other program revenue.
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 and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 92
  • Accountability: 38
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.5%; rating input score 75
  • Program expense ratio: 93%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 10th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Fail

Sustainability

  • Operating margin: 17.4%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 14.4% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 74.5% of revenue deployed · 93% of spending went to programs
  • Governance: 1 of 3 board members independent · 4 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $405K in reported program spending
  • Leadership: top reported pay $21K · 4 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.