Civic Intelligence

Naeve Health Care Foundation

EIN 41-1989509 • 501(c)3 • Albert Lea, MN

Profile

Raising philanthropic dollars for high quality cost effective healthcare at mchs in albert lea.

404 West Fountain StAlbert Lea, MN 56007

www.naevefoundation.com

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

10th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

91st percentile

57%

Higher net margin than 91% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

95th percentile

$567,798

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 107.1% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

57th percentile

6.2%

Faster asset growth than 57% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

75%

Faster revenue growth than 89% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$5,367,734

Up $313,981 (+6.2%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$5,367,734

Up $313,981 (+6.2%) from 2023

Operations
Liabilities / Revenue10th percentileNet Margin91st percentile

Revenue

Up

$530,023

Up $226,346 (+75%) from 2023

Expenses

Down

$228,373

Down $69,902 (-23%) from 2023

Net Income

Up

$301,650

Up $296,248 (+5484%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth57th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $5,538,986Liabilities 2010: $707,054Net Assets 2010: $4,831,9322010Assets 2011: $4,897,080Liabilities 2011: $475,845Net Assets 2011: $4,421,2352011Assets 2012: $4,509,151Liabilities 2012: $0Net Assets 2012: $4,509,1512012Assets 2013: $4,948,808Liabilities 2013: $0Net Assets 2013: $4,948,8082013Assets 2014: $4,884,381Liabilities 2014: $0Net Assets 2014: $4,884,3812014Assets 2015: $4,706,302Liabilities 2015: $0Net Assets 2015: $4,706,3022015Assets 2016: $4,802,328Liabilities 2016: $0Net Assets 2016: $4,802,3282016Assets 2017: $5,011,935Liabilities 2017: $0Net Assets 2017: $5,011,9352017Assets 2018: $4,502,612Liabilities 2018: $0Net Assets 2018: $4,502,6122018Assets 2019: $5,345,864Liabilities 2019: $0Net Assets 2019: $5,345,8642019Assets 2020: $5,347,686Liabilities 2020: $0Net Assets 2020: $5,347,6862020Assets 2021: $5,959,953Liabilities 2021: $227,523Net Assets 2021: $5,732,4302021Assets 2022: $4,688,945Liabilities 2022: $0Net Assets 2022: $4,688,9452022Assets 2023: $5,053,753Liabilities 2023: $0Net Assets 2023: $5,053,7532023Assets 2024: $5,367,734Liabilities 2024: $0Net Assets 2024: $5,367,7342024

Highlighted filing

2024

Assets$5,367,734
Liabilities$0
Net Assets$5,367,734
Open 2024 Filing

Operations Trend

Revenue Growth89th percentile

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

$600K$400K$200K$0-$200K-$400KExpenses 2010: $537,8222010Expenses 2011: $416,9302011Expenses 2012: $361,0742012Revenue 2013: $529,293Expenses 2013: $314,481Net Income 2013: $214,8122013Revenue 2014: $199,479Expenses 2014: $243,755Net Income 2014: -$44,2762014Revenue 2015: $136,055Expenses 2015: $37,277Net Income 2015: $98,7782015Revenue 2016: $225,283Expenses 2016: $260,107Net Income 2016: -$34,8242016Revenue 2017: $378,035Expenses 2017: $405,191Net Income 2017: -$27,1562017Revenue 2018: $216,498Expenses 2018: $257,207Net Income 2018: -$40,7092018Revenue 2019: $240,693Expenses 2019: $38,097Net Income 2019: $202,5962019Revenue 2020: $273,835Expenses 2020: $477,688Net Income 2020: -$203,8532020Revenue 2021: $356,553Expenses 2021: $271,083Net Income 2021: $85,4702021Revenue 2022: $138,101Expenses 2022: $277,267Net Income 2022: -$139,1662022Revenue 2023: $303,677Expenses 2023: $298,275Net Income 2023: $5,4022023Revenue 2024: $530,023Expenses 2024: $228,373Net Income 2024: $301,6502024

Highlighted filing

2024

Revenue$530,023
Expenses$228,373
Net Income$301,650
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$5,367,734
Liabilities
$0
Net assets
$5,367,734
Revenue
$530,023
Expenses
$228,373
Net income
$301,650
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.37$0.00$5.37$0.53$0.23$0.30
2023Detailed filing. Detailed filing data is available for this year.$5.05$0.00$5.05$0.30$0.30$0.01
2022Detailed filing. Detailed filing data is available for this year.$4.69$0.00$4.69$0.14$0.28$0.14
2021Detailed filing. Detailed filing data is available for this year.$5.96$0.23$5.73$0.36$0.27$0.09
2020Detailed filing. Detailed filing data is available for this year.$5.35$0.00$5.35$0.27$0.48$0.20
2019Detailed filing. Detailed filing data is available for this year.$5.35$0.00$5.35$0.24$0.04$0.20
2018Detailed filing. Detailed filing data is available for this year.$4.50$0.00$4.50$0.22$0.26$0.04
2017Detailed filing. Detailed filing data is available for this year.$5.01$0.00$5.01$0.38$0.41$0.03
2016Detailed filing. Detailed filing data is available for this year.$4.80$0.00$4.80$0.23$0.26$0.03
2015Detailed filing. Detailed filing data is available for this year.$4.71$0.00$4.71$0.14$0.04$0.10
2014Detailed filing. Detailed filing data is available for this year.$4.88$0.00$4.88$0.20$0.24$0.04
2013Detailed filing. Detailed filing data is available for this year.$4.95$0.00$4.95$0.53$0.31$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.51$0.00$4.51$0.36
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.90$0.48$4.42$0.42
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.54$0.71$4.83$0.54
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 31, 2025
Return Version
2024v5.2
Gross Receipts
$2,414,774
Mission and Program Overview

Mission

To ensure the future of local, quality health care through the continued development of a permanent endowment fund and other philanthropic relationships and activities as may be deemed appropriate for the growth and development of mhcs in albert lea and surrounding communities.

Raising philanthropic dollars for high quality cost effective healthcare at mchs in albert lea.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$4,989,908$5,302,740▲ $312,832
Savings and Temporary Cash Investments$53,923$54,097▲ $174
Total Assets$5,053,753$5,367,734▲ $313,981
Other Assets Total$9,922$10,897▲ $975
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,433,143$4,686,345▲ $253,202
Net Assets With Donor Restrictions$620,610$681,389▲ $60,779
Total Net Assets Fund Balance$5,053,753$5,367,734▲ $313,981
Total Liabilities and Net Assets / Fund Balance$5,053,753$5,367,734▲ $313,981

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$5,302,740--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$281,543---$281,543
2023$281,543---$281,543
2022$281,543---$281,543
2021$281,543---$281,543
2020$281,543---$281,543
Compensation and Service Providers
Top Officer Pay95th percentile

Board Members and Trustees

NameTitle
Daniel KolkerPresident
Corrine TimsVice Chair
Diane DamerowTrustee
Diane WichmannTrustee
Dr Heidi GastonTrustee
Dr Timothy KozelskeyTrustee
Gary SchindlerTrustee
Karen ConnTrustee
Matthew GreibrokTrustee
Nick SchiltzTrustee
Dr Sumit BhagraEx-officio Officer
Diane ClarkSecretary
Shannon SteensmaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$168
Program Service Revenue
$0
Investment Income
$529,855
Other Revenue
$0
All Other Contributions
$168
Change in Net Assets
$301,650
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$182,400
Other Expenses$45,973
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$182,400--$182,400
Fees for Service Investment Mgmnt Fees-$36,314-$36,314
Other Expenses-$3,546-$3,546
Fees for Services Accounting-$2,100-$2,100
Total Functional Expenses$182,400$45,973$0$228,373
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mayo Clinic Health SystemAlbert Lea, MN501(c)(3)Support Programs$182,400
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
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, Part VI, Section A, Line 8B

“The organization does not have any committees that have authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by a national cpa office. A copy of the form 990 is provided to all board members of the organization for review prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“In accordance with the filing organization's conflict of interest policy, the following individuals are required to annually sign a conflict of interest acknowledgement: -board of trustee members -members of the major naeve health care foundation committees any individual from the above groups may be asked to abstain from voting or participating in the decision making activities affected by the conflict of interest disclosure. An individual may be asked to leave a meeting where the decision making activities would be affected by the conflict of interest disclosure. If an individual neglects to disclose appropriately, disciplinary action will be considered up to and including termination of employment and/or position on the foundation board. The compliance officer of mayo clinic health system - albert lea and austin assists the board in distribution and collection of annual conflict of interest disclosure forms.”

Form 990, Part VI, Section C, Line 19

“No documents are available to the public.”

Filing and Contact Details

Filer

Filer Name
Naeve Health Care Foundation
EIN
41-1989509
Phone
5074341595
Address
404 WEST FOUNTAIN ST, ALBERT LEA, MN 56007

Signing Officer

Name
Corrine Tims
Title
President
Phone
5074341595
Signed
2025-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Corrine Tims
Formed
2000
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Cliftonlarsonallen Llp
Address
2689 COMMERCE DRIVE NW SUITE 201, ROCHESTER, MN 55901
Preparer
Katherine Lutzke CPA
Phone
5072802300
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1 - ORGANIZATION'S MISSION:

“To ensure the future of local, quality health care through the continued development of a permanent endowment fund and other philanthropic relationships and activities as may be deemed appropriate for the growth and development of mchs in albert lea and surrounding communities.”

Financial Statement Notes

PART V, LINE 4:

“To support patients of mayo clinic health system in albert lea.”

Raw XML AppendixShowing 400 of 585 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE CEO OF THE FOUNDATION'S SUPPORTED ORGANIZATION, MAYO CLINIC HEALTH SYSTEM - ALBERT LEA AND AUSTIN (THE "MEDICAL CENTER"), SERVES AS AN EX OFFICIO VOTING MEMBER OF THE BOARD OF TRUSTEES OF THE FOUNDATION. THE MEDICAL CENTER'S CEO ALSO SERVES AS AN EX OFFICIO MEMBER OF THE BOARD OF DIRECTORS OF THE MEDICAL CENTER, THUS PROVIDING REPRESENTATION OF MEDICAL CENTER LEADERSHIP ON THE BOARD OF THE FOUNDATION AT BOTH THE OFFICER AND GOVERNING BODY LEVELS OF THE MEDICAL CENTER. THE MEDICAL CENTER CEO IS COMMITTED TO ENSURING THAT THE FOUNDATION'S FACILITIES ARE MANAGED AND OPERATED IN A MATTER THAT REFLECTS THE MEDICAL CENTER'S CHARITABLE PURPOSES AND MISSION. HE IS ACTIVELY ENGAGED AS A BOARD MEMBER IN THE FOUNDATION'S GOVERNANCE AND PARTICIPATES IN DECISIONS AND DISCUSSIONS AT THE BOARD LEVEL AND WITH THE FOUNDATION'S LEADERSHIP IN ALL ASPECTS OF THE FOUNDATION'S MANAGEMENT AND USE OF ITS INCOME AND ASSETS FOR THE BENEFIT OF THE MEDICAL CENTER. IN ADDITION, THE FOUNDATION'S BYLAWS PROVIDE THAT THE FOUNDATION MUST MAINTAIN A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE MEDICAL CENTER'S OFFICERS AND DIRECTORS IN ORDER TO ENSURE THAT THE MEDICAL CENTER'S LEADERSHIP HAS A SIGNIFICANT VOICE IN THE FOUNDATION'S OPERATIONS AND ITS ACQUISITION, USE, AND MANAGEMENT OF ITS INCOME AND ASSETS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 3 - ROLE OF SUPPORTED ORGANIZATIONS:
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