Minnesota Academy of Family Physicians Foundation
Nonprofit profile at a glance
- EIN
- 363611238
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2021
- Location
- Minneapolis, MN, USA
- Phone
- 9525420130
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $652,347
- Expenses
- $751,375
- Assets
- $317,667
- Liabilities
- $236,168
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- OLUSOLA O ADEGOKE (PRESIDENT)
- MARIA HUNTLEY (CEO)
Highest reported compensation
- MARIA HUNTLEY (CEO): $44,272 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 support family physician health care delivery, research and education, and to develop patient care programs, provide education to patients and professionals, support practice-based research intiatives, and introduce medical students to the specialty of family medicine.
What it reported doing in 2024
Medical students: david mersy, m.d. Student externship program- grants are awarded to medical students who want to gain career experience and knowledge of the specialty of family medicine by spending the summer at a family medicine clinic conducting a clinical research or non-research project with a family physician mentor.resident research grant program: grants are awarded to family medicine residents to design a research project and gain real-world research experience, develop skills in basic research methods and understand the importance of family medicine research. Residents are matched with a family physician research mentor.the anderson fund: it helps first year residents physicians transition into residency in Minnesota.innovation grant program $1000 grants awarded to students, residents and physicians in Minnesota. Other program expenses: the new program development initiative invites healthcare organizations to partner with the mafp foundation and explore future program opportunities that will improve the health of minnesotans.
Operating model
- Revenue model
- Donor-supported. 88% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 66% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 94
- Accountability: 90
- Sustainability: 19
- Growth: 60
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: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -15.2%; rating input score 12; 12th percentile among comparable filings
- Total-asset coverage ratio: 0.42; rating input score 20; 20th percentile among comparable filings
- Liabilities to assets ratio: 0.74; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 5.9%; rating input score 51; 51st percentile among comparable filings
Growth
- Program expense growth: -7.1% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 22.9% per year; rating input score 100; 88th percentile among comparable filings
- Asset growth: 15.3% per year; rating input score 100; 73rd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $751K in reported program spending
- Leadership: top reported pay $44K · 10 people listed
- Consistency: 26 of 26 current checks pass
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Operating margin scored 12/100.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 20/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- Review — Sustainability: Officer compensation ratio scored 51/100.