University of Minnesota Physicians
720 Washington Ave SE Ste 200, Minneapolis, MN · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $1,008,701,283 | $960,484,923 | $112,845,574 |
| FY2024 | $903,048,414 | $909,135,379 | $75,333,979 |
| FY2023 | $902,949,353 | $873,243,046 | $108,781,458 |
| FY2022 | $804,479,557 | $801,477,284 | $99,096,697 |
| FY2021 | $719,799,425 | $704,665,769 | $123,070,219 |
| FY2020 | $702,714,868 | $675,036,594 | $119,446,660 |
| FY2019 | $644,353,161 | $627,493,287 | $100,685,121 |
| FY2018 | $591,056,584 | $593,201,146 | $98,411,080 |
| FY2017 | $555,367,364 | $549,575,645 | $114,840,226 |
| FY2016 | $521,783,450 | $517,852,617 | $124,053,674 |
| FY2015 | $482,192,512 | $471,579,702 | $116,577,543 |
| FY2014 | $490,662,458 | $467,268,222 | $106,252,324 |
| FY2013 | $452,095,198 | $439,547,521 | $83,085,170 |
| FY2012 | $415,221,564 | $409,751,466 | $70,820,000 |
Form 990 filings
The returns filed by University of Minnesota Physicians (EIN 41-1843943), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $1,002,262,740 | 99% |
| Other revenue | $6,438,543 | 1% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $894,177,511 | 93% |
| Management & general | $66,307,412 | 7% |
| Fundraising | $0 | 0% |
What the numbers show
- Program service revenue made up 99% of total revenue in FY2025.
- Program services accounted for 93% of functional expenses, management & general 7%, and fundraising 0%.
- 93% of functional expenses went to program services in FY2025. That is higher than 90.4% of 135 Health Care organizations in MN.
- Net assets covered about 1.4 months of expenses at the end of the reporting year. That puts it in the 11th percentile among 465 Health Care organizations in MN.
- Total revenue was higher than 98.1% of 467 Health Care organizations in MN.
- Total revenue rose from $415,221,564 in FY2012 to $1,008,701,283 in FY2025. Revenue increased in 12 and decreased in 1 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 2 of 14 reported years (FY2018, FY2024).
- Net assets grew from $70,820,000 to $112,845,574 between FY2012 and FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
TO PROVIDE THE HIGHEST QUALITY HEALTHCARE TO PATIENTS AND THEIR FAMILIES.
IRS status
| Ruling year | 1997 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | E300 — Health Care (in MN) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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