HENNEPIN HEALTHCARE RESEARCH INSTITUTE
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$54,717,221
Government Grants
59%
Contributions
30%
Other
7%
Investments
4%
Fundraising Events
0%
Program Services
0%
Membership Dues
0%
Expenses in 2024
$53,504,403
Salaries & Benefits
49%
Fees to Service Providers
40%
Offices, Occupancy & IT
8%
Other
2%
Depreciation
<1%
Grants
0%
Benefits to Members
0%
Advertising & Promotion
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$13,893,330
$16,496,362
+19%
Government Grants
$37,057,292
$32,150,854
-13%
Fundraising Events
$0
$0
-
Program Services
$0
$0
-
Membership Dues
$0
$0
-
Investments
$1,700,462
$2,173,495
+28%
Other
$4,449,024
$3,896,510
-12%
Total Revenues
$57,100,108
$54,717,221
-4%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$23,288,550
$26,129,366
+12%
Fees to Service Providers
$27,012,891
$21,600,151
-20%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$3,488,052
$4,017,762
+15%
Interest
$0
$0
-
Depreciation
$553,833
$493,867
-11%
Other
$1,067,268
$1,263,257
+18%
Total Expenses
$55,410,594
$53,504,403
-3%
Net income
2023
2024
Change
Net income
+$1,689,514
+$1,212,818
-28%
Functional Expenses
Summary
2023
2024
Change
Program
$51,494,539
$49,330,495
-4%
Admin
$3,916,055
$4,173,908
+7%
Fundraising
$0
$0
-
Total Expenses
$55,410,594
$53,504,403
-3%
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