Park Nicollet Group Return: FY2023 Nonprofit Profile & Form 990 (EIN 45-5023260)

Revenue by fiscal year
FY2020	$1.6B
FY2021	$1.9B
FY2022	$1.9B
FY2023	$2.0B
FY2024	$2.2B

Expenses by fiscal year
FY2020	$1.6B
FY2021	$1.7B
FY2022	$1.9B
FY2023	$2.0B
FY2024	$2.1B

Net assets by fiscal year
FY2020	$951.7M
FY2021	$1.1B
FY2022	$1.1B
FY2023	$1.1B
FY2024	$1.2B

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2011.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

90%

Program services 90% · $1.8B Management & general 10% · $191.7M Fundraising 0% · $776K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

45 people listed on the 990; $7.5M paid to officers and key staff.

Part VII, Section A · reportable compensation

Turang E Behbahani

Physician, Oncology

$1,471,240Pt VII · Sec A

Gregery R Hildebrand MD

Orthopedic Surgeon

$1,392,037Pt VII · Sec A

Christine M Pui MD

Vice Chair Orthopedics

$1,371,655Pt VII · Sec A

Eric M Rohman

Orthopedic Surgeon

$1,303,165Pt VII · Sec A

Leticia Perondi Luz

Physician, Gastroenterology

$1,269,886Pt VII · Sec A

Duane F Spiegle

Vp- Real Estate and Support

$438,019Pt VII · Sec A

Nathan G Blad

Former President Olivia Hospital

$302,156Pt VII · Sec A

Morris Goodwin

Director & Treasurer

$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Brian L Walters MN	—	—	—	$1,668,999	—
Turang E Behbahani	—	$1,471,240	$1,136,089	—	—
Kevin J Mullaney	$1,432,882	—	—	—	—
Christine M Pui MD	$1,416,067	$1,371,655	$1,274,887	$1,198,418	—
Gregory R Hildebrand MD	$1,400,060	—	—	—	—
Gregery R Hildebrand MD	—	$1,392,037	$1,332,784	$1,284,027	—
Daniel Gatlin	$1,351,108	—	—	—	—
Gregory R Hildebrand	—	—	—	—	$1,331,387

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Improves health and well-being through partnerships with members, patients, and the community.

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Provided by the organization

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1 program · $1.8B · in their own filed words · FY2023

01

See Schedule O

Exempt purpose and achievements for a description of program service accomplishments.

$1.8Bprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2020

Minnesota Hospital AssociationFY2020$88K

Total grants receivedfrom 1 funder$88K

Grants paid · 2 grants · $38K · 2020–2022

NAMI MinnesotaMN · FY2022$25,000

National Eating Disorders AssociationNY · FY2020$12,500

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$2.0B

Ln 12

Fees for servicesLn 2g$2.0B

Investment incomeLn 3$35.9M

Gifts and grantsLn 1h$7.9M

Money outPt IX

$2.0B

Ln 25

Programscol B$1.8B

Managementcol C$191.7M

Fundraisingcol D$776K

Owns and owesPt X

$1.1B

net assets · Ln 32

Cash and savingsLn 1–2$5.0M

Total assetsLn 16$1.7B

LiabilitiesLn 26$615.1M

PeoplePt VI, VII

45

listed · VII A

PaidVII A7

Voting boardVI 1a15

IndependentVI 1b13

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$7.9M

Government grantsLn 1e$6.0M

Fees for servicesLn 2g$2.0B

Investment incomeLn 3$35.9M

Other incomeLn 4–11$595K

Gains on assetsLn 7$8.8M

Total revenueLn 12$2.0B

Assets in detailPt X, end of year

CashLn 1$3.1M

SavingsLn 2$1.9M

Cash and savings togetherLn 1–2$5.0M

InvestmentsLn 11–13$583.6M

Land, buildings, equipmentLn 10c$412.5M

Other assetsLn 15$25.4M

Total assetsLn 16$1.7B

LiabilitiesLn 26$615.1M

Net assetsLn 32$1.1B

OperationsPt I, VI

EmployeesI 50

VolunteersI 6226

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$1.9M	$5.0M
InvestmentsLn 11–13	$518.4M	$583.6M
Land, buildings, equipmentLn 10c	$443.3M	$412.5M
Total assetsLn 16	$1.55B	$1.74B
LiabilitiesLn 26	$455.1M	$615.1M
Net assetsLn 32	$1.10B	$1.13B

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$29K	$29K
Other salaries and wagesLn 7	$1.12B	$1.02B	$99.6M	$776K
Pension plan contributionsLn 8	$20.3M	$19.1M	$1.2M
Other employee benefitsLn 9	$211.3M	$194.1M	$17.2M
Payroll taxesLn 10	$233K	$233K
Legal feesLn 11b	$913K	$79K	$834K
Accounting feesLn 11c	$93K		$93K
Investment management feesLn 11f	$47K		$47K
Other fees for servicesLn 11g	$54.8M	$43.5M	$11.3M
Advertising and promotionLn 12	$2.8M	$853K	$1.9M
Office expensesLn 13	$19.1M	$17.8M	$1.3M
Information technologyLn 14	$29.1M	$2.1M	$27.0M
OccupancyLn 16	$32.6M	$28.7M	$3.9M
TravelLn 17	$2.2M	$1.8M	$362K
Conferences, conventions and meetingsLn 19	$3.6M	$3.2M	$445K
InterestLn 20	$13.6M	$13.6M
Depreciation, depletion and amortizationLn 22	$65.6M	$57.0M	$8.6M
InsuranceLn 23	$28.9M	$28.6M	$215K
Other expenses (24a–d)Ln 24	$404.3M	$387.6M	$16.7M
All other expensesLn 24e	$2.8M	$1.7M	$1.0M
Total functional expensesLn 25	$2.01B	$1.82B	$191.7M	$776K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$2.2B	$2.1B	$73.0M	$1.2B	990 PDF
FY2023 Viewing	$2.0B	$2.0B	−$10.2M	$1.1B	990 PDF
FY2022	$1.9B	$1.9B	$47.8M	$1.1B	990 PDF
FY2021	$1.9B	$1.7B	$156.6M	$1.1B	990 PDF
FY2020	$1.6B	$1.6B	$56.6M	$951.7M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2023 990 (6 parts)

Part I · Summary $2,002,440,411 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $6,183,985$7,850,749

I-9 Program service revenuePrior year $1,884,623,720$1,958,126,097

I-10 Investment incomePrior year $16,761,810$35,868,765

I-11 Other revenuePrior year $5,714,450$594,800

I-12 Total revenuePrior year $1,913,283,965$2,002,440,411

I-13 Grants and similar amounts paidPrior year $37,163$28,827

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $1,239,333,083$1,352,133,115

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $626,070,317$660,457,883

I-18 Total expensesPrior year $1,865,440,563$2,012,619,825

I-19 Revenue less expensesPrior year $47,843,402−$10,179,414

Part VI · Governance 13 of 15 board members independent, no flags

VI-1a Voting members of the governing body15

VI-1b Independent voting members13

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $2,002,440,411 across 9 lines filed

Lines not itemized here account for $79,337 of total revenue; see the IRS return.

VIII-1d Related organizations$1,731,546

VIII-1e Government grants$6,027,578

VIII-1f All other contributions, gifts and grants$91,625

VIII-1h Total contributions, gifts and grants$7,850,749

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,958,126,097$1,958,126,097

VIII-3 Investment incomeExcluded from tax $27,032,682$27,032,682

VIII-6 Net rental income or lossExcluded from tax $515,463$515,463

VIII-7 Net gain or loss on sales of assetsExcluded from tax $8,836,083$8,836,083

VIII-12 Total revenueRelated to mission $1,958,126,097 · Unrelated business $0 · Excluded from tax $36,463,565$2,002,440,411

Part IX · Statement of functional expenses $2,012,619,825 across 20 lines filed

IX-1 Grants to domestic organizationsPrograms $28,827$28,827

IX-7 Other salaries and wagesPrograms $1,019,907,800 · Management $99,603,104 · Fundraising $775,707$1,120,286,611

IX-8 Pension plan contributionsPrograms $19,116,056 · Management $1,210,204$20,326,260

IX-9 Other employee benefitsPrograms $194,113,157 · Management $17,173,851$211,287,008

IX-10 Payroll taxesPrograms $233,236$233,236

IX-11b Legal feesPrograms $79,353 · Management $833,921$913,274

IX-11c Accounting feesManagement $93,459$93,459

IX-11f Investment management feesManagement $46,772$46,772

IX-11g Other fees for servicesPrograms $43,537,239 · Management $11,268,001$54,805,240

IX-12 Advertising and promotionPrograms $852,744 · Management $1,915,078$2,767,822

IX-13 Office expensesPrograms $17,835,805 · Management $1,306,827$19,142,632

IX-14 Information technologyPrograms $2,089,899 · Management $27,037,574$29,127,473

IX-16 OccupancyPrograms $28,740,744 · Management $3,859,935$32,600,679

IX-17 TravelPrograms $1,811,241 · Management $362,050$2,173,291

IX-19 Conferences, conventions and meetingsPrograms $3,188,415 · Management $445,200$3,633,615

IX-20 InterestPrograms $13,643,876$13,643,876

IX-22 Depreciation, depletion and amortizationPrograms $57,023,909 · Management $8,565,743$65,589,652

IX-23 InsurancePrograms $28,639,271 · Management $214,972$28,854,243

IX-24 Other expenses (24a–d)Programs $387,574,999 · Management $16,708,717$404,283,716

IX-24e All other expensesPrograms $1,744,858 · Management $1,037,281$2,782,139

IX-25 Total functional expensesPrograms $1,820,161,429 · Management $191,682,689 · Fundraising $775,707$2,012,619,825

Part X · Balance sheet $1,743,781,100 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $1,933,539$3,093,504

X-2 Savings and temporary cash investments$1,916,882

X-4 Accounts receivableStart of year $192,078,475$696,821,005

X-8 Inventories for sale or useStart of year $17,177,961$19,521,464

X-9 Prepaid expenses and deferred chargesStart of year $2,329,713$926,060

X-10c Land, buildings and equipment, netStart of year $443,313,984$412,484,573

X-11 Publicly traded securitiesStart of year $516,575,871$581,744,661

X-12 Other securitiesStart of year $1,852,991$1,852,991

X-15 Other assetsStart of year $379,483,407$25,419,960

X-16 Total assetsStart of year $1,554,745,941$1,743,781,100

X-17 Accounts payable and accrued expensesStart of year $107,572,741$294,481,135

X-19 Deferred revenueStart of year $2,506,605$2,246,558

X-20 Tax-exempt bond liabilitiesStart of year $315,363,441$294,260,454

X-25 Other liabilitiesStart of year $29,662,679$24,130,515

X-26 Total liabilitiesStart of year $455,105,466$615,118,662

X-27 Net assets without donor restrictionsStart of year $1,098,082,120$1,128,101,989

X-28 Net assets with donor restrictionsStart of year $1,558,355$560,449

X-32 Total net assets or fund balancesStart of year $1,099,640,475$1,128,662,438

X-33 Total liabilities and net assetsStart of year $1,554,745,941$1,743,781,100

Part XI · Reconciliation of net assets $1,128,662,438 net assets at year end

XI-1 Total revenue$2,002,440,411

XI-2 Total expenses$2,012,619,825

XI-3 Revenue less expenses−$10,179,414

XI-4 Net assets at start of year$1,099,640,475

XI-5 Net unrealized gains (losses) on investments$39,201,377

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,128,662,438

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Park Nicollet Group Return FY2023 filing

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