ROCHESTER, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)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.
THE NON-PROFIT DMC ECONOMIC DEVELOPMENT AGENCY (EDA) IS AN ECONOMIC DEVELOPMENT CORPORATION FORMED BY THE MAYO CLINIC AND AUTHORIZED BY THE DMC STATE STATUTE TO PROVIDE SERVICES TO THE DMCC TO SECURE THE CITY OF ROCHESTER'S AND MINNESOTA'S FUTURE AS A GLOBAL, PREMIER MEDICAL DESTINATION AND TO FURTHER MAYO CLINIC'S MISSION BY PROVIDING THE IDEAL PATIENT, COMPANION, VISITOR AND COMMUNITY MEMBER EXPERIENCE.
THE PURPOSE OF THE EDA IS TO PROVIDE EXPERIENCE AND EXPERTISE IN DEVELOPING AND MARKETING THE DESTINATION MEDICAL CENTER INITIATIVE AND PROVIDE SERVICES FOR IMPLEMENTING THE GOALS, OBJECTIVES, AND...
THE PURPOSE OF THE EDA IS TO PROVIDE EXPERIENCE AND EXPERTISE IN DEVELOPING AND MARKETING THE DESTINATION MEDICAL CENTER INITIATIVE AND PROVIDE SERVICES FOR IMPLEMENTING THE GOALS, OBJECTIVES, AND STRATEGIES IN THE DESTINATION MEDICAL CENTER DEVELOPMENT PLAN. THE EDA IS SUPPORTED PRIMARILY THROUGH CONTRIBUTIONS FROM THE DESTINATION MEDICAL CENTER CORPORATION AND THROUGH IN-KIND CONTRIBUTIONS BY MAYO CLINIC.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
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
Sign In| 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 |
| 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 |
Compare DESTINATION MEDICAL CENTER ECONOMIC DEVELOPMENT AGENCY with other nonprofits in Minnesota and across the country.