MEDICA HOLDING COMPANY

EIN: 010571840 Public & Societal Benefit

MINNETONKA, MN

Total Revenue
$22,445,270
Total Expenses
$13,956,522
Total Assets
$468,669,723
Net Assets
$468,516,723
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
MN
Principal Officer
ELIZABETH ERICKSON
Phone
9529922058
Tax Period
2023-01-01 to 2023-12-31

MEDICA HOLDING COMPANY, founded in 2002, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $22.4M in total revenue in fiscal year 2023. Revenue surged 2064% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.5M, a strong 38% operating margin.

Mission

TO BE THE TRUSTED HEALTH PLAN OF CHOICE FOR CUSTOMERS, MEMBERS, PARTNERS AND OUR EMPLOYEES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $22,445,270
Other Revenue $0
TOTAL REVENUE $22,445,270

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $13,956,522
TOTAL EXPENSES $13,956,522

Year-over-Year Comparison

2023 2022 Change
Revenue $22,445,270 $1,037,106 +20.6%
Expenses $13,956,522 $652,335 +20.4%
Net Income $8,488,748 $384,771 +21.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
9
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$4,951,416
Total Directors
10
$3,651,936
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN NAYLOR PRESIDENT & CEO (THRU 9/23) 0.00
Officer Director
$0 $28,672 $2,605,686
JOHN BUCK DIRECTOR & CHAIR 0.00
Officer Director
$0 $0 $163,750
SAMUEL LEON DIRECTOR 0.00
Director
$0 $0 $100,250
JOHN STANOCH DIRECTOR & VICE CHAIR 0.00
Officer Director
$0 $0 $121,250
MARY TWINEM DIRECTOR 0.00
Director
$0 $0 $111,000
GAYE ADAMS MASSEY DIRECTOR 0.00
Director
$0 $0 $95,000
RAJESH AGGARWAL DIRECTOR 0.00
Director
$0 $0 $119,750
BRIGID BONNER DIRECTOR 0.00
Director
$0 $0 $108,000
PETER KELLEY DIRECTOR 0.00
Director
$0 $0 $112,500
EARL STRATTON DIRECTOR 0.00
Director
$0 $0 $114,750
DAVID H ELLENBOGEN SVP SEC & GEN COUNSEL (THRU 12/23) 0.00
Officer
$0 $45,018 $818,602
ELIZABETH F ERICKSON PRESIDENT & CEO & CFO 0.00
Officer
$0 $39,039 $1,242,128
MARK L BAIRD FORMER SVP & CFO 0.00
$0 $0 $552,044
JAMES JACOBSON FORMER SVP SEC & GEN COUNSEL 0.00
$0 $0 $448,077
MARY P QUIST TREASURER/INTERIM CFO 0.00
$0 $49,529 $857,958
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $22,445,270 $13,956,522 $468,669,723 $8,488,748
2023 $22,445,270 $13,956,522 $468,669,723 $8,488,748
2022 $1,037,106 $652,335 $602,876,570 $384,771
2021 $25,184 $128,481 $521,450,691 $-103,297
2020 $481,640 $97,375 $396,466,769 $384,265
2019 $1,101,365 $18,861 $56,082,504 $1,082,504
2018 No data No data No data No data
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