Compensation 990

Hennepin Healthcare Research Institute

Fiscal year ending 2024. Filed on September 23, 2025.

701 Park Avenue S2100
Minneapolis, Minnesota 55415

Hennepin Healthcare Research Institute (EIN: 41-1677920) has filed an IRS Form 990 between fiscal years 2016 and 2024. In its fiscal year 2024 IRS Form 990 filing, Hennepin Healthcare Research Institute, a 501(c)(3) charitable organization, reported compensation for 18 out of 266 total employees. Among the employees shown here, the average compensation is $353,065. The highest compensated employee at Hennepin Healthcare Research Institute is Andrew Schmidt, M.D. with fiscal year 2024 compensation of $660,695. Hennepin Healthcare Research Institute changed its name from Minneapolis Medical Research Foundation in 2019.

Revenue, expenses, and employee compensation

Revenue

$54,717,221

Expenses

$53,504,403

Employee compensation

$26,129,366
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

－10.2%vs 2023
Andrew Schmidt, M.D.
Director/Physician (Until 6/24)
$660,695
$0 from org$608,540 from related$52,155 other
－1.0%vs 2023
Michael Puskarich, M.D., Ms
Director and Physician
$573,871
$0 from org$513,475 from related$60,396 other
New in 2024
Meghan Walsh, M.D., Mph, Facp
Director/Hhs - CARO
$539,918
$0 from org$475,382 from related$64,536 other
＋14.7%vs 2023
Kirsten L Johansen, M.D.
President/Investigator
$537,828
$0 from org$479,088 from related$58,740 other
＋18.8%vs 2023
Theresa Pesch, Rn
HHS Vice President of Philanthrophy
$494,094
$0 from org$431,214 from related$62,880 other
New in 2024
Eric Ling, M.D., Mba, Ma
Director/Hhs - Chief of Medical Officer
$362,496
$0 from org$316,146 from related$46,350 other
－3.6%vs 2023
Jason Baker, M.D.
Former VICE President/Investigator
$350,534
$0 from org$294,166 from related$56,368 other
－3.7%vs 2023
Anne Frosch, M.D.
Director/Investigator
$332,873
$0 from org$279,337 from related$53,536 other
＋4.0%vs 2023
David Gilbertson
Program Co-Director
$315,094
$260,228 from orgNo related comp$54,866 other
－25.7%vs 2023
Ajay Israni, M.D., Ms
Former President/Investigator
$311,093
$0 from org$266,063 from related$45,030 other
＋12.8%vs 2023
Rachel Nygaard
Director/Surgery Research
$287,047
$231,903 from orgNo related comp$55,144 other
－10.7%vs 2023
Anne Murray, M.D., Ms
Former Secretary/Treasurer/Investigator
$259,722
$0 from org$218,197 from related$41,525 other

Non-Employee Board Members

Connie Delaney, Ph.D., Rn, Faan
Board Chair
Edward P Ehlinger M.D. Msph
Director
Gopal Khanna, Mba
Director
Miaja Cassidy Jd Chc Ccep
Board Vice Chair
Prat Verma, Mba, Ms
Director
Richard King, M.D., Ph.D.
Board Chair (Until 4/24)
Serafin Samson, Mba, Ms
Secretary and Treasurer
Simon Shannon, Mba, Ph.D.
Director

Mission Statement

IMPROVE PATIENT CARE AND THE HEALTH OF OUR COMMUNITY THROUGH RESEARCH AND EDUCATION.

Revisions to this organization profile

September 23, 2025:
2024 Hennepin Healthcare Research Institute 990 filed
September 18, 2024:
2023 Hennepin Healthcare Research Institute 990 filed
September 19, 2023:
2022 Hennepin Healthcare Research Institute 990 filed

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