Regina Foundation

Nonprofit profile at a glance

EIN
411987372
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Minneapolis, MN, USA
Phone
6122620660
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$139,733
Expenses
$2,756,230
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

13 people listed

Highest reported compensation

  • RICHARD MAGNUSON (EVP/CFO): $1,898,714 total reported compensation
  • HELEN STRIKE (DIRECTOR/INTERIM EXEC DIR FNDTN): $493,853 total reported compensation
  • IAN MCQUISTAN MD (DIRECTOR): $444,712 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To benefit and carry out the purposes of allina health system, doing business as united hospital and regina senior living, in connection with the roman catholic church. See schedule o for description of 12/31/2023 termination of entity by its members.

What it reported doing in 2023

To carry out the purposes of allina health system and regina senior living, in connection with the roman catholic church. To provide opportunities to help patients and residents benefit from the latest research, equipment and healing techniques.

Operating model

Revenue model
Investment-supported. 79% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 72
  • Sustainability: 4
  • 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: 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: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1,872.5%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 5.6%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 31% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 12 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.8M in reported program spending
  • Leadership: top reported pay $1.9M · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 7 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.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.