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Posts tagged ‘Richard Magnuson’

8
Jun

Executive Compensation at Allina Health System (2017)

Allina Health System (AHS) is a non-profit health care provider based in Minneapolis that owns or operates 13 hospitals and more than 90 clinics through Minnesota and Wisconsin. Key information about AHS includes:

  • Total revenue in 2017 was $4.3 billion, most of which came from program revenue (health services).
  • Total expenses in 2017 were $4.1 billion (including $180 million in depreciation). The largest expense was compensation which totaled $2.6 billion, followed by office-related expenses at $800 million.
  • AHS began the year with $2.4 billion in fund balances (net assets). After adding the excess revenue over expenses ($173 million) and unrealized gains on investments ($133 million), AHS had $2.7 billion in fund balances at year-end.

AHS is the direct controlling entity of many other non-profits but the focus of this post is limited to the executive compensation at AHS as reported to the IRS on Form 990. Read more »

6
Feb

Executive Compensation at City of Hope

When some people hear the words “City of Hope” they think of a cancer treatment center in California but there is so much more to the organization than what those words describe. ¬†Specifically, there are four 501 (c) (3)’s: the main organization (City of Hope), the medical center (City of Hope National Medical Center) that provides hospitalization, the foundation (City of Hope Foundation) that provides physician services and the research institute (Beckman Research Institute) that does medical research.

It is important to understand the direct controlling entity of the Medical Center, Foundation, and Research Institute is City of Hope.  Although these organizations are separate organizations with different purposes, they are all located in Duarte, California and are related so it is difficult to analyze one without looking at the others.

When looking at executive compensation, many of the ¬†most highly compensated executives receive compensation from more than one of the City of Hope organizations. Therefore, the list of the most highly compensated individuals from each of the four organizations will be listed followed by a detailed list at the end of the post of those who received compensation from 3 or 4 of the organizations and what the compensation was. Read more »