Civic Intelligence

Miami Heart Research Institute Inc

EIN 59-0674260 • 501(c)3 • Miami, FL

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Profile

Miami heart research institute, inc. Is an independent, not-for-profit 501(c)(3) organization with the mission to perform the functions of, or to carry out the purposes of, florida heart research foundation, inc. By fundraising and funding cardiovascular research, education and prevention.

4770 Biscayne Blvd 500Miami, FL 33140

www.floridaheart.org

Siviq Scores

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

Liabilities / Assets

16th percentile

0.02x

Higher debt load relative to assets than 16% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

27th percentile

0.14x

Higher debt load relative to revenue than 27% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

95th percentile

69%

Higher net margin than 95% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

33rd percentile

$266,307

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

48th percentile

5.4%

Faster asset growth than 48% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

97th percentile

234%

Faster revenue growth than 97% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$72,453,813

Up $3,679,801 (+5.4%) from 2023

Liabilities

Up

$1,572,198

Up $634,606 (+68%) from 2023

Net Assets

Up

$70,881,615

Up $3,045,195 (+4.5%) from 2023

Operations
Liabilities / Revenue27th percentileNet Margin95th percentile

Revenue

Up

$11,192,176

Up $7,842,842 (+234%) from 2023

Expenses

Up

$3,427,931

Up $1,247,089 (+57%) from 2023

Net Income

Up

$7,764,245

Up $6,595,753 (+564%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth48th percentile

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

$80M$60M$40M$20M$0Assets 2011: $50,398,682Liabilities 2011: $266,889Net Assets 2011: $50,131,7932011Assets 2012: $49,307,052Liabilities 2012: $249,034Net Assets 2012: $49,058,0182012Assets 2013: $50,852,260Liabilities 2013: $182,009Net Assets 2013: $50,670,2502013Assets 2014: $51,931,553Liabilities 2014: $111,286Net Assets 2014: $51,820,2672014Assets 2015: $50,580,797Liabilities 2015: $244,995Net Assets 2015: $50,335,8022015Assets 2016: $53,576,846Liabilities 2016: $544,695Net Assets 2016: $53,032,1512016Assets 2017: $59,719,002Liabilities 2017: $951,563Net Assets 2017: $58,767,4392017Assets 2018: $55,526,157Liabilities 2018: $360,000Net Assets 2018: $55,166,1572018Assets 2019: $65,893,861Liabilities 2019: $875,202Net Assets 2019: $65,018,6592019Assets 2020: $71,295,048Liabilities 2020: $734,976Net Assets 2020: $70,560,0722020Assets 2021: $78,634,349Liabilities 2021: $477,635Net Assets 2021: $78,156,7142021Assets 2022: $62,381,637Liabilities 2022: $829,741Net Assets 2022: $61,551,8962022Assets 2023: $68,774,012Liabilities 2023: $937,592Net Assets 2023: $67,836,4202023Assets 2024: $72,453,813Liabilities 2024: $1,572,198Net Assets 2024: $70,881,6152024

Highlighted filing

2024

Assets$72,453,813
Liabilities$1,572,198
Net Assets$70,881,615
Open 2024 Filing

Operations Trend

Revenue Growth97th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $2,009,575Expenses 2011: $3,102,223Net Income 2011: -$1,092,6482011Revenue 2012: $1,755,162Expenses 2012: $3,100,712Net Income 2012: -$1,345,5502012Revenue 2013: $2,639,445Expenses 2013: $3,191,312Net Income 2013: -$551,8672013Revenue 2014: $2,486,675Expenses 2014: $1,965,059Net Income 2014: $521,6162014Revenue 2015: $1,722,501Expenses 2015: $1,373,392Net Income 2015: $349,1092015Revenue 2016: $6,128,676Expenses 2016: $1,746,181Net Income 2016: $4,382,4952016Revenue 2017: $3,267,503Expenses 2017: $1,946,616Net Income 2017: $1,320,8872017Revenue 2018: $2,118,119Expenses 2018: $1,579,084Net Income 2018: $539,0352018Revenue 2019: $2,591,627Expenses 2019: $1,650,103Net Income 2019: $941,5242019Revenue 2020: $4,037,744Expenses 2020: $2,449,547Net Income 2020: $1,588,1972020Revenue 2021: $4,746,532Expenses 2021: $1,920,955Net Income 2021: $2,825,5772021Revenue 2022: $2,906,140Expenses 2022: $2,684,518Net Income 2022: $221,6222022Revenue 2023: $3,349,334Expenses 2023: $2,180,842Net Income 2023: $1,168,4922023Revenue 2024: $11,192,176Expenses 2024: $3,427,931Net Income 2024: $7,764,2452024

Highlighted filing

2024

Revenue$11,192,176
Expenses$3,427,931
Net Income$7,764,245
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
$72,453,813
Liabilities
$1,572,198
Net assets
$70,881,615
Revenue
$11,192,176
Expenses
$3,427,931
Net income
$7,764,245
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$72.5$1.57$70.9$11.2$3.43$7.76
2023Detailed filing. Detailed filing data is available for this year.$68.8$0.94$67.8$3.35$2.18$1.17
2022Detailed filing. Detailed filing data is available for this year.$62.4$0.83$61.6$2.91$2.68$0.22
2021Detailed filing. Detailed filing data is available for this year.$78.6$0.48$78.2$4.75$1.92$2.83
2020Detailed filing. Detailed filing data is available for this year.$71.3$0.73$70.6$4.04$2.45$1.59
2019Detailed filing. Detailed filing data is available for this year.$65.9$0.88$65.0$2.59$1.65$0.94
2018Detailed filing. Detailed filing data is available for this year.$55.5$0.36$55.2$2.12$1.58$0.54
2017Detailed filing. Detailed filing data is available for this year.$59.7$0.95$58.8$3.27$1.95$1.32
2016Detailed filing. Detailed filing data is available for this year.$53.6$0.54$53.0$6.13$1.75$4.38
2015Detailed filing. Detailed filing data is available for this year.$50.6$0.24$50.3$1.72$1.37$0.35
2014Detailed filing. Detailed filing data is available for this year.$51.9$0.11$51.8$2.49$1.97$0.52
2013Summary only. Only limited summary data is available for this year.$50.9$0.18$50.7$2.64$3.19$0.55
2012Summary only. Only limited summary data is available for this year.$49.3$0.25$49.1$1.76$3.10$1.35
2011Summary only. Only limited summary data is available for this year.$50.4$0.27$50.1$2.01$3.10$1.09
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 25, 2025
Return Version
2024v5.2
Gross Receipts
$60,676,263
Mission and Program Overview

Mission

Miami heart research institute is an independent, not-for-profit 501(3) organization with the mission to stop heart disease through research, education and prevention and to perform the functions of, or to carry out the purposes of, florida heart research foundation, inc., a not-for-profit corporation devoted to joint missions of educating the public about the disease.

To perform the functions of, or to carry out the purposes of, florida heart research foundation, inc. In its mission to stop heart disease through research, education and prevention programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$57,184,516$63,028,221▲ $5,843,705
Savings and Temporary Cash Investments$11,128,616$9,024,002▼ $2,104,614
Accounts Receivable$61,971$67,051▲ $5,080
Prepaid Expenses and Deferred Charges$26,921$28,545▲ $1,624
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$68,774,012$72,453,813▲ $3,679,801
Other Assets Total$371,788$305,794▼ $65,994
Liabilities
Grants Payable$390,000$1,115,000▲ $725,000
Other Liabilities$370,394$305,508▼ $64,886
Accounts Payable and Accrued Expenses$177,198$151,690▼ $25,508
Total Liabilities$937,592$1,572,198▲ $634,606
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$67,836,420$70,881,615▲ $3,045,195
Total Net Assets Fund Balance$67,836,420$70,881,615▲ $3,045,195
Total Liabilities and Net Assets / Fund Balance$68,774,012$72,453,813▲ $3,679,801

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$59,906$59,906
Leasehold Improvements$0$51,077$51,077
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nancy R CavalieExecutive DirectorFT$230,000$36,307$266,307

Board Members and Trustees

NameTitle
Joe Ann BatchellerChairman
Jose Antonio Adams MdVice Chair
Charles E PorterTrustee
Elizabeth WhalenTrustee
Eric FalkenbergTrustee
Maria Canossa-terris MdTrustee
Mary Jean Catinchi Mella EsqTrustee
Oliver R Di Pietro MdTrustee
Tracy Towle HumphreyTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Northern Trust Bank Of FloridaInvestment Mgmt Fees700 BRICKELL AVENUE, Miami, FL 33131$176,628
Revenue and Support

Revenue Composition

Contributions and Grants
$77,007
Program Service Revenue
$0
Investment Income
$11,115,169
Other Revenue
$0
All Other Contributions
$77,007
Change in Net Assets
$7,764,245
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,569,901
Salaries, Compensation, and Employee Benefits$432,117
Other Expenses$425,913
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,494,901--$2,494,901
Current Officers, Directors, Trustees, and Key Employees$133,153$133,154-$266,307
Fees for Service Investment Mgmnt Fees-$212,805-$212,805
Other Salaries and Wages$60,420$60,420-$120,840
Depreciation Depletion$42,149$42,149-$84,298
Grants to Domestic Individuals$75,000--$75,000
Insurance$19,081$19,082-$38,163
Fees for Services Other$17,011$17,010-$34,021
Office Expenses$11,858$11,858-$23,716
Payroll Taxes$11,417$11,417-$22,834
Other Employee Benefits$7,797$7,797-$15,594
Fees for Services Accounting$4,357$4,357-$8,714
Information Technology$7,797$583-$8,380
Pension Plan Contributions$3,271$3,271-$6,542
Advertising$5,157--$5,157
Occupancy$2,497$2,496-$4,993
Fees for Services Legal$2,240$2,240-$4,480
Travel$593$593-$1,186
Total Functional Expenses$2,898,699$529,232$0$3,427,931
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
FiuMiami, FL501(c)(3)Cardiac Research, Education, and Prevention$850,000
Florida Heart Research Foundation IncMiami, FL501(c)(3)General Support$420,000
Mt SinaiMiami Beach, FL501(c)(3)Cardiac Research, Education, and Prevention$340,000
University of MiamiCoral Gables, FL501(c)(3)Cardiac Research, Education, and Prevention$325,000
Mayo Clinic - HerrmannMinneapolis, MN501(c)(3)Cardiac Research, Education, and Prevention$300,000
Georgetown UniversityPhiladelphia, PA501(c)(3)Cardiac Research, Education, and Prevention$259,901
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$305,508
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Joe ann batcheller and elizabeth whalen have a family relationship.”

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

“Upon completion of the draft form 990, a copy is distributed to each member of the board of trustees for their review. Trustees are invited to submit any questions, comments, or suggested changes. A two-week period is provided for this review to ensure thoughtful consideration and feedback.”

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

“During the year-end meeting, as part of the process for voting on the continuation of board members, all votes are submitted for approval by the full board of trustees. Following acceptance of the votes, each board member is required to complete a conflict of interest policy form. This form is included in the board packet sent to all trustees prior to the meeting. Completed forms are submitted to the executive director for proper retention and filing, ensuring compliance with organizational governance standards.”

Form 990, Part VI, Section B, Line 15A

“The organization's executive director is reviewed on a yearly basis. A list of accomplishments is prepared as well as a list of average salaries paid by nonprofit organizations for this position and in the same state and county for the board to review. The listing of salaries is prepared by guidestar who uses irs data provided by forms 990.”

Form 990, Part VI, Section C, Line 19

“The organization's most recent audited financial statements and form 990 are available on our website. Additionally, the form 990 may be obtained by submitting a written request to the administration. Governing documents and the conflict of interest policy are also available for review during normal business hours upon written request to the administration.”

Filing and Contact Details

Filer

Filer Name
Miami Heart Research Institute Inc
EIN
59-0674260
Phone
3056743020
Address
4770 BISCAYNE BLVD 500, MIAMI, FL 33140

Signing Officer

Name
Nancy R Cavalie
Title
Executive Director
Phone
3056743020
Signed
2025-08-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy R Cavalie
Formed
1944
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
9
Employees
3
Volunteers
9

Preparer

Firm
Cherry Bekaert Advisory LLC
Address
2811 PONCE DE LEON BLVD STE 500, CORAL GABLES, FL 33134
Preparer
Melanie Mcpeak
Phone
7866936300
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The entire board of directors assumes responsibility for oversight of the audit, review, and compilation of its financial statements and selection of an independent accountant.”

Raw XML AppendixShowing 400 of 594 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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IRS990/AccountsReceivableGrp/EOYAmt067051
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF, FLORIDA HEART RESEARCH FOUNDATION, INC. IN ITS MISSION TO STOP HEART DISEASE THROUGH RESEARCH, EDUCATION AND PREVENTION PROGRAMS.
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IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt04770 BISCAYNE BLVD SUITE 500
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IRS990/CreditCounselingInd00
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IRS990/Desc0IN SUPPORT OF THE FLORIDA HEART RESEARCH FOUNDATION, INC., WE REMAIN COMMITTED TO ADVANCING CARDIOVASCULAR RESEARCH. WE ARE WELL-POSITIONED FOR A LONG AND PRODUCTIVE FUTURE IN THIS CRITICAL FIELD AND TAKE GREAT PRIDE IN FUNDING RESEARCH THAT IS BOTH MERITORIOUS AND SCIENTIFICALLY VALID.TO ACHIEVE OUR MISSION, WE MUST CONTINUE TO EXPAND OUR RESEARCH CAPABILITIES AND EDUCATIONAL INITIATIVES THROUGH COLLABORATION WITH INSTITUTIONS OF EXCELLENCE. AS PART OF THIS COMMITMENT, WE REQUIRE THAT ALL FUNDED PROJECTS PUBLISH THEIR FINDINGS IN LEADING PEER-REVIEWED JOURNALS AND PRESENT THEIR RESULTS AT NATIONAL AND INTERNATIONAL CONFERENCES AND SEMINARS. OUR ULTIMATE GOAL IS TO SUPPORT RESEARCH THAT LEADS TO SIGNIFICANT BREAKTHROUGHS - INNOVATIONS THAT IMPROVE THE DIAGNOSIS, TREATMENT, AND PREVENTION OF CARDIOVASCULAR DISEASE. ADDITIONALLY, WE REQUIRE 6-MONTH PROGRESS REPORTS, INCLUDING DETAILED BUDGETS OUTLINING HOW FUNDS HAVE BEEN UTILIZED.
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IRS990/Form990PartVIISectionAGrp/PersonNm4MARY JEAN CATINCHI MELLA ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm5MARIA CANOSSA-TERRIS MD
IRS990/Form990PartVIISectionAGrp/PersonNm6ELIZABETH WHALEN
IRS990/Form990PartVIISectionAGrp/PersonNm7CHARLES E PORTER
IRS990/Form990PartVIISectionAGrp/PersonNm8ERIC FALKENBERG
IRS990/Form990PartVIISectionAGrp/PersonNm9NANCY R CAVALIE
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IRS990/Form990PartVIISectionAGrp/TitleTxt9EXECUTIVE DIRECTOR
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IRS990/MissionDesc0MIAMI HEART RESEARCH INSTITUTE, INC. IS AN INDEPENDENT, NOT-FOR-PROFIT 501(C)(3) ORGANIZATION WITH THE MISSION TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF, FLORIDA HEART RESEARCH FOUNDATION, INC. BY FUNDRAISING AND FUNDING CARDIOVASCULAR RESEARCH EDUCATION AND PREVENTION PROGRAMS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0WE ACTIVELY SUPPORT EDUCATION AND PREVENTION INITIATIVES THAT IMPROVE PUBLIC HEALTH BY REDUCING HEALTH DISPARITIES AND INCREASING ACCESS TO CARE IN MEASURABLE AND MEANINGFUL WAYS. WE BELIEVE THAT HEART DISEASE CAN BE PREVENTED THROUGH A COMBINATION OF BASIC AND CLINICAL RESEARCH, ALONG WITH EDUCATION ABOUT ITS CAUSES, RISK FACTORS, AND THE IMPORTANCE OF HEALTHY LIFESTYLE CHOICES. RESEARCH DISCOVERIES BENEFIT ALL OF HUMANITY, WHILE EDUCATION EMPOWERS INDIVIDUALS TO MAKE INFORMED DECISIONS - ULTIMATELY IMPROVING HEALTH OUTCOMES AND QUALITY OF LIFE. WHILE RESEARCH IS ESSENTIAL TO THE FUTURE OF HEALTHCARE, EDUCATION AND PREVENTION ARE THE CORNERSTONES OF HEALTH TODAY. IN ADDITION TO OUR RESEARCH EFFORTS, WE AWARD ANNUAL SCHOLARSHIP GRANTS IN CARDIAC NURSING. THESE SCHOLARSHIPS HAVE RECEIVED POSITIVE RECOGNITION AND FEEDBACK FROM PARTICIPANTS, AS EVIDENCED THROUGH SURVEYS, TESTIMONIALS, AND AWARDS.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE AMOUNT REPORTED HERE REPRESENTS EXPENSES SUCH AS SALARIES, PROFESSIONAL FEES, OFFICE SPACE, AND SUPPLIES INCURRED ON BEHALF OF FLORIDA HEART RESEARCH FOUNDATION WHICH WERE NOT REIMBURSED BY THE FOUNDATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART I, LINE 12G, COLUMN VI, OTHER SUPPORT:
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2CARDIAC RESEARCH, EDUCATION, AND PREVENTION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3CARDIAC RESEARCH, EDUCATION, AND PREVENTION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4CARDIAC RESEARCH, EDUCATION, AND PREVENTION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5CARDIAC RESEARCH, EDUCATION, AND PREVENTION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FLORIDA HEART RESEARCH FOUNDATION INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1UNIVERSITY OF MIAMI
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3MAYO CLINIC - HERRMANN
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