Civic Intelligence

Portico Healthnet

EIN 41-1814659 • 501(c)3 • Minneapolis, MN

Profile

Portico healthnet advances equitable access to health coverage for all minnesotans.

2925 Chicago Avenue South Ste 094Minneapolis, MN 55407

www.porticohealthnet.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

62nd percentile

0.15x

Higher debt load relative to assets than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

45th percentile

0.05x

Higher debt load relative to revenue than 45% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

29th percentile

-4.9%

Higher net margin than 29% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

13th percentile

-13%

Faster asset growth than 13% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

77th percentile

31%

Faster revenue growth than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$1,153,091

Up $174,057 (+18%) from 2023

Liabilities

Up

$212,869

Up $65,348 (+44%) from 2023

Net Assets

Up

$940,222

Up $108,709 (+13%) from 2023

Revenue

Up

$3,332,660

Up $617,040 (+23%) from 2023

Expenses

Up

$3,223,951

Up $374,980 (+13%) from 2023

Net Income

Up

$108,709

Up $242,060 (+182%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2011: $2,363,440Liabilities 2011: $672,753Net Assets 2011: $1,690,6872011Assets 2012: $2,053,621Liabilities 2012: $505,022Net Assets 2012: $1,548,5992012Assets 2013: $2,048,475Liabilities 2013: $532,560Net Assets 2013: $1,515,9152013Assets 2014: $1,989,452Liabilities 2014: $589,818Net Assets 2014: $1,399,6342014Assets 2015: $1,779,606Liabilities 2015: $577,321Net Assets 2015: $1,202,2852015Assets 2016: $2,391,831Liabilities 2016: $647,959Net Assets 2016: $1,743,8722016Assets 2017: $1,562,702Liabilities 2017: $501,900Net Assets 2017: $1,060,8022017Assets 2018: $1,246,799Liabilities 2018: $353,435Net Assets 2018: $893,3642018Assets 2019: $1,036,536Liabilities 2019: $155,566Net Assets 2019: $880,9702019Assets 2020: $1,036,978Liabilities 2020: $422,106Net Assets 2020: $614,8722020Assets 2021: $1,170,975Liabilities 2021: $132,942Net Assets 2021: $1,038,0332021Assets 2022: $1,120,252Liabilities 2022: $155,388Net Assets 2022: $964,8642022Assets 2023: $979,034Liabilities 2023: $147,521Net Assets 2023: $831,5132023Assets 2024: $1,153,091Liabilities 2024: $212,869Net Assets 2024: $940,2222024

Highlighted filing

2024

Assets$1,153,091
Liabilities$212,869
Net Assets$940,222

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $4,003,465Expenses 2011: $3,851,292Net Income 2011: $152,1732011Revenue 2012: $2,793,921Expenses 2012: $2,936,009Net Income 2012: -$142,0882012Revenue 2013: $2,656,881Expenses 2013: $2,689,565Net Income 2013: -$32,6842013Revenue 2014: $3,111,069Expenses 2014: $3,227,350Net Income 2014: -$116,2812014Revenue 2015: $3,102,315Expenses 2015: $3,299,664Net Income 2015: -$197,3492015Revenue 2016: $3,521,540Expenses 2016: $2,979,953Net Income 2016: $541,5872016Revenue 2017: $2,054,969Expenses 2017: $2,738,039Net Income 2017: -$683,0702017Revenue 2018: $2,695,598Expenses 2018: $2,905,282Net Income 2018: -$209,6842018Revenue 2019: $2,174,313Expenses 2019: $2,186,707Net Income 2019: -$12,3942019Revenue 2020: $1,794,227Expenses 2020: $2,060,325Net Income 2020: -$266,0982020Revenue 2021: $2,286,158Expenses 2021: $2,025,669Net Income 2021: $260,4892021Revenue 2022: $2,068,909Expenses 2022: $2,142,078Net Income 2022: -$73,1692022Revenue 2023: $2,715,620Expenses 2023: $2,848,971Net Income 2023: -$133,3512023Revenue 2024: $3,332,660Expenses 2024: $3,223,951Net Income 2024: $108,7092024

Highlighted filing

2024

Revenue$3,332,660
Expenses$3,223,951
Net Income$108,709

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.15$0.21$0.94$3.33$3.22$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.98$0.15$0.83$2.72$2.85$0.13
2022Detailed filing. Detailed filing data is available for this year.$1.12$0.16$0.96$2.07$2.14$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.17$0.13$1.04$2.29$2.03$0.26
2020Detailed filing. Detailed filing data is available for this year.$1.04$0.42$0.61$1.79$2.06$0.27
2019Detailed filing. Detailed filing data is available for this year.$1.04$0.16$0.88$2.17$2.19$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.25$0.35$0.89$2.70$2.91$0.21
2017Detailed filing. Detailed filing data is available for this year.$1.56$0.50$1.06$2.05$2.74$0.68
2016Detailed filing. Detailed filing data is available for this year.$2.39$0.65$1.74$3.52$2.98$0.54
2015Detailed filing. Detailed filing data is available for this year.$1.78$0.58$1.20$3.10$3.30$0.20
2014Detailed filing. Detailed filing data is available for this year.$1.99$0.59$1.40$3.11$3.23$0.12
2013Summary only. Only limited summary data is available for this year.$2.05$0.53$1.52$2.66$2.69$0.03
2012Summary only. Only limited summary data is available for this year.$2.05$0.51$1.55$2.79$2.94$0.14
2011Summary only. Only limited summary data is available for this year.$2.36$0.67$1.69$4.00$3.85$0.15
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 14, 2025
Return Version
2024v5.0
Gross Receipts
$3,342,236
Mission and Program Overview

Mission

To reduce the number of people without coverage for health care services in the twin cities metropolitan area.

Portico healthnet advances equitable access to health coverage for all minnesotans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$544,528$621,594▲ $77,066
Accounts Receivable$180,949$223,704▲ $42,755
Pledges and Grants Receivable$151,481$213,807▲ $62,326
Prepaid Expenses and Deferred Charges$36,903$40,785▲ $3,882
Land, Buildings, and Equipment, Net$44,469$27,021▼ $17,448
Intangible Assets$10,498$1,622▼ $8,876
Total Assets$979,034$1,153,091▲ $174,057
Other Assets Total$10,206$24,558▲ $14,352
Liabilities
Accounts Payable and Accrued Expenses$136,912$188,311▲ $51,399
Other Liabilities$10,609$24,558▲ $13,949
Total Liabilities$147,521$212,869▲ $65,348
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$553,763$620,764▲ $67,001
Net Assets With Donor Restrictions$277,750$319,458▲ $41,708
Total Net Assets Fund Balance$831,513$940,222▲ $108,709
Total Liabilities and Net Assets / Fund Balance$979,034$1,153,091▲ $174,057

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$27,021$101,091$128,112
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stephanie RadtkePresidentFT$169,676$30,483$200,159
Molly MccormickCOOFT$124,975$5,496$130,471
Binrong ZhuDirector of Fin TFT$78,180$6,057$84,237

Board Members and Trustees

NameTitle
Julie SonierChair
Ana Pottratz AcostaBoard Member
Dana EricksonBoard Member
Ghita WorcesterBoard Member
Juventino MezaBoard Member
Kimberly ParrishBoard Member
Stephanie SchwartzBoard Member
Blake DarsowBod Member T
Julia Joseph-di CaprioBod Member T
Tobi TanzerGovernance C
Richard MagnusonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,465,504
Program Service Revenue
$1,866,957
Investment Income
$9,603
Other Revenue
$-9,404
All Other Contributions
$746,601
Change in Net Assets
$108,709

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,332,660
Revenue Not Reported on Form 990
$9,576
Total Revenue per Audited Statements
$3,342,236
Total Revenue per Form 990
$3,332,660
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,766,849
Other Expenses$457,102
Total Fundraising Expense$158,952
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,777,120$102,952$47,947$1,928,019
Current Officers, Directors, Trustees, and Key Employees$67,086$156,789$69,459$293,334
Payroll Taxes$241,308$25,735$10,783$277,826
Other Employee Benefits$209,860$10,799$2,000$222,659
Fees for Services Other$132,694$13,487$13,216$159,397
Information Technology$101,779$19,384$11,965$133,128
Pension Plan Contributions$39,511$3,838$1,662$45,011
Fees for Services Accounting-$42,219-$42,219
Depreciation Depletion$30,112$2,349$881$33,342
Other Expenses$16,591$9,880$6$26,477
Office Expenses$20,425$4,925$446$25,796
Insurance$8,220$5,086$246$13,552
Occupancy$11,379$1,637$341$13,357
Advertising$5,000--$5,000
Travel$1,728$2,835-$4,563
Fees for Services Legal-$271-$271
Total Functional Expenses$2,662,813$402,186$158,952$3,223,951

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,233,527
Expenses per Audited Statements$3,223,951
Total Expenses per Form 990$3,223,951
Expenses Not Reported on Form 990$9,576
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$9,576
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Salud$37,747-$837-
Total Events$37,747-$9,576$-9,576
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$24,558
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A pdf of the form 990 and audited financial statements is emailed to board members and finance committee members prior to meetings. At meetings, auditors and management are available to discuss and explain reports prior to voting for approval and filing the audit and 990 to appropriate agencies.

Form 990, Page 6, Part VI, Line 12C

First item of business for each board meeting is for members to declare any possible new relationships since last board meeting.

Form 990, Page 6, Part VI, Line 15A

Compensation for the agencys president was determined initially through a survey of comparable positions, including data provided through the minnesota nonprofit salary and benefits survey, which is updated every two years. The presidents performance is reviewed annually by the board of directors, who determine pay level and incentive rate of pay in accordance with both performance indicators and comparable nonprofit compensation levels.

Form 990, Page 6, Part VI, Line 15B

Portico is supported by adp totalsource for hr services, adp totalsource provides reports on any job description that document the most current comparisons for wages to responsibilities and surveys of average anticipated industry annual increases. This data and performance evaluations are reviewed by the employee's supervisor to set the annual pay rate. The president has final approval of any staff salary and incentive rate of pay.

Form 990, Page 6, Part VI, Line 19

Governing documents, conflict of interest policy, and financial statements are available to the public upon request. Portico's most recently filed 990 is available upon request and can also be found on the mn office of the attorney general and guidestar websites.

Filing and Contact Details

Filer

Filer Name
Portico Healthnet
EIN
41-1814659
Phone
6514892273
Address
2925 CHICAGO AVENUE SOUTH STE 094, MINNEAPOLIS, MN 55407

Signing Officer

Name
Stephanie Radtke
Title
President
Phone
6516035119
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephanie Radtke
Formed
2000
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
9
Employees
41
Volunteers
11

Preparer

Firm
Harrington Langer & Associates
Address
563 PHALEN BLVD, SAINT PAUL, MN 55130
Preparer
Greg Emmerich
Phone
6514811128
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Outreach and enrollment assistance/certified navigator program: since 1995, portico has offered health insurance eligibility screening; personalized application and enrollment assistance; and connection to community resources. Portico's certified mnsure navigators stay with clients from the beginning of the application until they are successfully enrolled, advocating for them with county and state agencies when needed, and providing translation and interpreter services. Portico partners with counties, food shelves, schools, workforce centers, and other social service organizations to reach out to clients who may need our help and to refer clients to services. Annually, portico screens over 11,000 uninsured and underinsured individuals for eligibility under various health care coverage options and assists with applications for medical assistance, minnesotacare and other state-funded public assistance programs. Additionally, portico provides more than 1,500 referrals to medical clinics, dental clinics and other community resources.

Form 990, Part XI, Line 9

Event expenses 9,576 event expenses -9,576

Financial Statement Notes

Schedule D, Page 3, Part X

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability (or asset) for uncertain positions that more likely than not would not be sustained upon examination by the applicable tax authorities. Federal and state tax authorities generally have the right to examine the current and the previous three years of income tax returns. The organization is not currently under examination by any taxing jurisdiction.

Schedule D, Page 4, Part XI, Line 2D

EVENT EXPENSES 9,576

Schedule D, Page 4, Part XII, Line 2D

EVENT EXPENSES 9,576

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) FOR UNCERTAIN POSITIONS THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAX AUTHORITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE THE CURRENT AND THE PREVIOUS THREE YEARS OF INCOME TAX RETURNS. THE ORGANIZATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION.

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