MEDICA FOUNDATION

EIN: 411812461 501(c)(3) Health Care

MINNETONKA, MN

Total Revenue
$7,617,966
Total Expenses
$3,512,890
Total Assets
$76,228,960
Net Assets
$74,427,460
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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
MN
Principal Officer
ELIZABETH ERICKSON
Phone
9529922058
Tax Period
2024-01-01 to 2024-12-31

MEDICA FOUNDATION, founded in 1996, is a community nonprofit in the Health Care sector that reported $7.6M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.1M, a strong 54% operating margin.

Mission

THE FOUNDATION GENERALLY SEEKS TO IMPROVE THE HEALTH OF THOSE IN NEED BY INVESTING IN COMMUNITY-LED INITIATIVES THAT ADVANCE HEALTH EQUITY.

Program Service Accomplishments

Program 1
Expenses: $1,500,000

BEHAVIORAL HEALTH: WE SEEK PROPOSALS FOR PROGRAMS THAT IMPROVE THE HEALTH OUTCOMES FOR PEOPLE EXPERIENCING OR AT RISK OF SERIOUS MENTAL ILLNESS AND/OR SUBSTANCE USE DISORDERS. WE PRIORITIZE PROPOSALS...

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BEHAVIORAL HEALTH: WE SEEK PROPOSALS FOR PROGRAMS THAT IMPROVE THE HEALTH OUTCOMES FOR PEOPLE EXPERIENCING OR AT RISK OF SERIOUS MENTAL ILLNESS AND/OR SUBSTANCE USE DISORDERS. WE PRIORITIZE PROPOSALS THAT PROVIDE CULTURALLY-RESPONSIVE CARE AND STRATEGICALLY ALIGN THEIR WORK TO ADVANCE HEALTH EQUITY.WE PRIORITIZE PROPOSALS FOR PROGRAMS THAT IMPROVE THE MENTAL AND CHEMICAL HEALTH OF INDIVIDUALS BY ADDRESSING: BEHAVIORAL HEALTH WORKFORCE, CO-OCCURRING DISORDERS, INTEGRATION OF PHYSICAL AND BEHAVIORAL HEALTH CARE, SERVICE DELIVERY GAPS, SUPPORTIVE AND INTENSIVE CASE MANAGEMENT SERVICESELIGIBILITY: WE PROVIDE BEHAVIORAL HEALTH GRANT FUNDING TO SUPPORT CHEMICAL OR MENTAL HEALTH. PROGRAMMING THAT ADDRESSES THE LIFESTYLE BEHAVIORS OF INDIVIDUALS DOESN'T MEET OUR CRITERIA AND IS INELIGIBLE. PLEASE NOTE THAT THESE ARE PROGRAM GRANTS. ALTHOUGH WE DO NOT PROVIDE FULLY UNRESTRICTED FUNDING, OUR GRANTS CAN BE USED FOR EXPENSES NEEDED TO CARRY OUT THE PROGRAM, INCLUDING STAFF AND A PORTION FOR OVERHEAD.

Program 2
Expenses: $400,000

EARLY CHILDHOOD HEALTH: WE SEEK PROPOSALS FOR EARLY INTERVENTION PROGRAMS THAT SUPPORT FAMILIES AND CHILDREN, AND FOSTER OPTIMAL GROWTH AND DEVELOPMENT FOR CHILDREN FROM BIRTH THROUGH AGE 12. WE...

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EARLY CHILDHOOD HEALTH: WE SEEK PROPOSALS FOR EARLY INTERVENTION PROGRAMS THAT SUPPORT FAMILIES AND CHILDREN, AND FOSTER OPTIMAL GROWTH AND DEVELOPMENT FOR CHILDREN FROM BIRTH THROUGH AGE 12. WE PRIORITIZE PROPOSALS THAT PROVIDE CULTURALLY FOCUSED CARE AND THAT STRATEGICALLY ALIGN THEIR WORK TO ADVANCE HEALTH EQUITY. WE PRIORITIZE PROPOSALS THAT ADDRESS: ABUSE PREVENTION, MATERNAL HEALTH AND BIRTH EQUITY (E.G., PRENATAL/PERINATAL CARE AND DOULA SUPPORT), ORAL HEALTH, PARENTING SKILLS, PRIMARY CARE AND IMMUNIZATIONS ELIGIBILITY: NON-HEALTH RELATED EDUCATION AND LIFESTYLE PROGRAMS, INCLUDING PHYSICAL ACTIVITY AND NUTRITION, ARE INELIGIBLE. PROGRAMS, SUCH AS CAMPS, THAT ARE ONE-TIME EXPERIENCES ARE ALSO INELIGIBLE. MENTAL HEALTH PROPOSALS FOR CHILDREN SHOULD BE SUBMITTED THROUGH OUR BEHAVIORAL HEALTH FUNDING AREA. PLEASE NOTE THAT THESE ARE PROGRAM GRANTS. ALTHOUGH WE DO NOT PROVIDE FULLY UNRESTRICTED FUNDING, OUR GRANTS CAN BE USED FOR EXPENSES NEEDED TO CARRY OUT THE PROGRAM, INCLUDING STAFF AND A PORTION FOR OVERHEAD.

Program 3
Expenses: $400,000

RURAL HEALTH: WE AIM TO FUND COMMUNITY-LED SOLUTIONS THAT ADDRESS HEALTH EQUITY IN RURAL COMMUNITIES. WE PRIORITIZE PROPOSALS THAT ADDRESS: CULTURALLY-FOCUSED CARE, DENTAL HEALTH, DOMESTIC VIOLENCE...

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RURAL HEALTH: WE AIM TO FUND COMMUNITY-LED SOLUTIONS THAT ADDRESS HEALTH EQUITY IN RURAL COMMUNITIES. WE PRIORITIZE PROPOSALS THAT ADDRESS: CULTURALLY-FOCUSED CARE, DENTAL HEALTH, DOMESTIC VIOLENCE AND SEXUAL ASSAULT SERVICES AND PREVENTION, INDEPENDENT LIVING FOR SENIORS, MATERNAL AND BIRTH HEALTH, MENTAL HEALTH AND CHEMICAL HEALTH, PRIMARY CARE FOR UNDERSERVED COMMUNITIES, SEXUAL HEALTH, TRANSPORTATION FOR MEDICAL/HEALTH APPOINTMENTS. ELIGIBILITY: RURAL HEALTH GRANT RECIPIENTS ARE ELIGIBLE TO SUBMIT AN APPLICATION FOR FUNDING IN CONSECUTIVE YEARS. FUNDING IS LIMITED TO ORGANIZATIONS BASED OUTSIDE OF THE SEVEN-COUNTY TWIN CITIES METROPOLITAN AREA. ORGANIZATIONS SEEKING TO DO WORK WITHIN OUR SERVICE AREA BUT DO NOT HAVE A PHYSICAL PRESENCE IN GREATER MINNESOTA ARE INELIGIBLE. FUNDING REQUESTS FOR EVENTS, SPONSORSHIPS, SEMINARS, MUSEUMS, CAMPS, AND GENERAL HEALTH AND WELLNESS ACTIVITIES INCLUDING NUTRITION, EXERCISE, ETC., ARE INELIGIBLE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $7,617,966
Other Revenue $0
TOTAL REVENUE $7,617,966

Expense Breakdown

Grants Paid $2,850,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,850,000
Other Expenses $662,890
TOTAL EXPENSES $3,512,890

Year-over-Year Comparison

2024 2023 Change
Revenue $7,617,966 $5,992,092 +0.3%
Expenses $3,512,890 $2,833,682 +0.2%
Net Income $4,105,076 $3,158,410 +0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
5
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
6
$4,131,016
Total Directors
5
$470,250
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN BUCK DIRECTOR 0.00
Director
$0 $0 $145,250
JOHN STANOCH DIRECTOR & CHAIR 0.00
Officer Director
$0 $0 $128,500
MARY TWINEM DIRECTOR & VICE CHAIR 0.00
Officer Director
$0 $0 $90,250
GAYE ADAMS MASSEY DIRECTOR 0.00
Director
$0 $0 $87,750
UGWUJI MADUEKWE DIRECTOR 0.00
Director
$0 $0 $18,500
ELIZABETH F ERICKSON PRESIDENT, CEO, & TREAS THRU 1/2024 0.00
Officer
$0 $201,202 $1,870,851
MARY P QUIST SR. VP, FINANCE THRU 6/2024 0.00
Officer
$0 $35,245 $639,953
KRISTA DUSIL SVP, CFO, & TREASURER 0.00
Officer
$0 $116,115 $920,238
ALICIA REUTER SVP & CHIEF LEGAL OFFICER, SECRETARY 0.00
Officer
$0 $72,742 $481,224
SAMUEL LEON FORMER DIRECTOR 0.00
$0 $0 $23,250
MARK L BAIRD FORMER SVP & CFO 0.00
$0 $0 $370,125
JAMES P JACOBSON FORMER SVP SEC & GEN COUNSEL 0.00
$0 $0 $403,815
DAVID H ELLENBOGEN FORMER SVP SEC & GEN COUNSEL 0.00
$0 $1,619 $226,230
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 $7,617,966 $3,512,890 $76,228,960 $4,105,076
2023 $5,992,092 $2,833,682 $70,831,578 $3,158,410
2023 $5,992,092 $2,833,682 $70,831,578 $3,158,410
2022 $4,948,323 $2,196,274 $61,623,458 $2,752,049
2021 $7,726,701 $3,636,077 $70,871,769 $4,090,624
2020 $13,054,845 $4,971,959 $64,599,900 $8,082,886
2019 $10,194,683 $2,517,205 $52,383,395 $7,677,478
2018 $12,666,309 $2,017,819 $39,564,384 $10,648,490
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