DESTINATION MEDICAL CENTER ECONOMIC DEVELOPMENT AGENCY (EIN 464893585) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2013

Legal Domicile

Principal Officer

PATRICK SEEB

Phone

5072169720

Tax Period

2023-01-01 to 2023-12-31

DESTINATION MEDICAL CENTER ECONOMIC DEVELOPMENT AGENCY, founded in 2013, is a community nonprofit in the Community Improvement sector that reported $5.0M in total revenue in fiscal year 2023. Revenue surged 116% from the prior year, signaling strong growth momentum.

Mission

SECURE THE CITY OF ROCHESTER'S AND MINNESOTA'S FUTURE AS A GLOBAL, PREMIER MEDICAL DESTINATION

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,730,658

Program Service Revenue $190,375

Investment Income $0

Other Revenue $42,475

TOTAL REVENUE $4,963,508

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,479,762

Fundraising Expenses $0

Program Expenses $4,239,110

Other Expenses $3,436,973

TOTAL EXPENSES $4,916,735

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,963,508	$2,292,653	+1.2%
Expenses	$4,916,735	$2,378,662	+1.1%
Net Income	$46,773	$-86,009	-1.5%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$1,977,139

Total Directors

$4,130,703

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLARK OTLEY MD	DIRECTOR/CHAIR	4.00	Officer Director	$0	$87,590	$1,206,518
TRACI DOWNS	DIRECTOR	4.00	Director	$0	$0	$0
THOMAS FISHER	DIRECTOR	4.00	Director	$0	$0	$0
JOSELYN RAYMUNDO	DIRECTOR	4.00	Director	$0	$0	$0
MARY J WILLIAMSON	DIRECTOR	4.00	Director	$0	$79,237	$1,209,089
DENNIS DAHLEN	DIRECTOR	4.00	Director	$0	$103,349	$1,715,096
ROBERTA DRESSEN	DIRECTOR	4.00	Director	$0	$0	$0
PATRICK SEEB	EXECUTIVE DIRECTOR	40.00	Officer	$273,705	$30,000	$303,705
MARCO WAGEMAN	TREASURER	4.00	Officer	$0	$15,654	$168,419
ERIN SEXTON	SECRETARY	4.00	Officer	$0	$60,985	$298,497
MICHAEL FLYNN	SENIOR DIRECTOR OF ECONOMI	40.00	Highest	$225,934	$22,500	$248,434
GENO PALAZZARI	COMMUNICATIONS MANAGER	40.00	Highest	$118,877	$7,314	$126,191
CATHERINE MALMBERG	DIRECTOR OF PUBLIC INFRASTRUCTURE & DEVELOPMENT ST	30.00	Highest	$133,778	$0	$133,778

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	$4,963,508	$4,916,735	$959,522	$46,773
2022	$2,292,653	$2,378,662	$557,006	$-86,009
2021	$2,178,384	$2,009,827	$727,598	$168,557
2020	$2,150,237	$2,172,039	$402,080	$-21,802
2019	$2,685,643	$2,657,067	$594,815	$28,576
2018	$2,532,200	$2,512,847	$343,415	$19,353

DESTINATION MEDICAL CENTER ECONOMIC DEVELOPMENT AGENCY