Portico Healthnet
EIN: 411814659 · Minneapolis, MN · NTEE: E22Z
| Metric | Value |
|---|---|
| Total Revenue | $3.3M |
| Total Expenses | $2.8M |
| Net Assets | $832K |
Is Portico Healthnet Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Portico Healthnet
Portico Healthnet (EIN: 411814659) is a nonprofit organization based in Minneapolis, MN, classified under NTEE code E22Z. The organization reported total revenue of $3.3M and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Portico Healthnet's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Portico Healthnet is a mid-size nonprofit that has been operating for 31 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.8M |
| Surplus / Deficit | $-133,351 |
| Total Assets | $979K |
| Total Liabilities | $148K |
| Net Assets | $832K |
| Operating Margin | -4.9% |
| Debt-to-Asset Ratio | 15.1% |
| Months of Reserves | 4.1 months |
Financial Health Grade: B
In 2023, Portico Healthnet reported a deficit of $133K with expenses exceeding revenue, holds 4.1 months of operating reserves (adequate), has a debt-to-asset ratio of 15.1% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2023), Portico Healthnet's revenue has declined at a compound annual growth rate (CAGR) of -3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +31.3% | +33.0% | -12.6% |
| 2022 | -9.5% | +5.7% | -4.3% |
| 2021 | +177.9% | +206.9% | +27.4% |
| 2020 | -54.1% | -68.0% | -11.3% |
| 2020 | -17.5% | -5.8% | +0.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Portico Healthnet has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Portico Healthnet with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $133K, with expenses exceeding revenue.
- Debt-to-asset ratio: 15.1%.
Frequently Asked Questions about Portico Healthnet
Is Portico Healthnet a legitimate charity?
Portico Healthnet (EIN: 411814659) is a registered tax-exempt nonprofit based in Minnesota. It has 14 years of IRS 990 filings on record. Total revenue: $3.3M. No red flags identified. Financial health grade: B.
How does Portico Healthnet spend its money?
Portico Healthnet reported $3.3M in total revenue in IRS 990 filings. 14 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Portico Healthnet tax-deductible?
Portico Healthnet is registered as a tax-exempt nonprofit (EIN: 411814659). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Portico Healthnet located?
Portico Healthnet is headquartered in Minneapolis, Minnesota and files with the IRS under EIN 411814659. It is classified under NTEE code E22Z.
How many years of IRS 990 filings does Portico Healthnet have?
Portico Healthnet has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.3M in total revenue.
Filing History
IRS 990 filing history for Portico Healthnet showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Portico Healthnet's revenue has declined by 32.2%, moving from $4.0M to $2.7M. Total assets decreased by 58.6% over the same period, from $2.4M to $979K. Total functional expenses fell by 26%, from $3.9M to $2.8M. In its most recent filing year (2023), Portico Healthnet reported a deficit of $133K, with expenses exceeding revenue. The organization holds $148K in liabilities against $979K in assets (debt-to-asset ratio: 15.1%), resulting in net assets of $832K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $2.8M | $979K | $148K | — | View 990 |
| 2022 | $2.1M | $2.1M | $1.1M | $155K | — | View 990 |
| 2021 | $2.3M | $2.0M | $1.2M | $133K | — | View 990 |
| 2020 | $823K | $660K | $919K | $142K | — | View 990 |
| 2020 | $1.8M | $2.1M | $1.0M | $422K | — | View 990 |
| 2019 | $2.2M | $2.2M | $1.0M | $156K | — | View 990 |
| 2018 | $2.7M | $2.9M | $1.2M | $353K | — | View 990 |
| 2017 | $2.1M | $2.7M | $1.6M | $502K | — | View 990 |
| 2016 | $3.5M | $3.0M | $2.4M | $648K | — | View 990 |
| 2015 | $3.1M | $3.3M | $1.8M | $577K | — | View 990 |
| 2014 | $3.1M | $3.2M | $2.0M | $590K | — | View 990 |
| 2013 | $2.7M | $2.7M | $2.0M | $533K | — | View 990 |
| 2012 | $2.8M | $2.9M | $2.1M | $505K | — | View 990 |
| 2011 | $4.0M | $3.9M | $2.4M | $673K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $2.8M, and assets of $979K (revenue +31.3% year-over-year).
- 2022: Revenue of $2.1M, expenses of $2.1M, and assets of $1.1M (revenue -9.5% year-over-year).
- 2021: Revenue of $2.3M, expenses of $2.0M, and assets of $1.2M (revenue +177.9% year-over-year).
- 2020: Revenue of $823K, expenses of $660K, and assets of $919K (revenue -54.1% year-over-year).
- 2020: Revenue of $1.8M, expenses of $2.1M, and assets of $1.0M (revenue -17.5% year-over-year).
- 2019: Revenue of $2.2M, expenses of $2.2M, and assets of $1.0M (revenue -19.3% year-over-year).
- 2018: Revenue of $2.7M, expenses of $2.9M, and assets of $1.2M (revenue +31.2% year-over-year).
- 2017: Revenue of $2.1M, expenses of $2.7M, and assets of $1.6M (revenue -41.6% year-over-year).
- 2016: Revenue of $3.5M, expenses of $3.0M, and assets of $2.4M (revenue +13.5% year-over-year).
- 2015: Revenue of $3.1M, expenses of $3.3M, and assets of $1.8M (revenue -0.3% year-over-year).
- 2014: Revenue of $3.1M, expenses of $3.2M, and assets of $2.0M (revenue +17.1% year-over-year).
- 2013: Revenue of $2.7M, expenses of $2.7M, and assets of $2.0M (revenue -4.9% year-over-year).
- 2012: Revenue of $2.8M, expenses of $2.9M, and assets of $2.1M (revenue -30.2% year-over-year).
- 2011: Revenue of $4.0M, expenses of $3.9M, and assets of $2.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Portico Healthnet:
Data Sources and Methodology
This transparency report for Portico Healthnet is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.