Destination Medical Center Corporation
Nonprofit profile at a glance
- EIN
- 464959371
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Rochester, MN, USA
- Phone
- 5073282850
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Urban, Community Economic Development
Reported finances
- Revenue
- $2,800,395
- Expenses
- $2,800,395
- Assets
- $430,697
- Liabilities
- $430,697
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
People named in this filing
- PAMELA WHEELOCK (CHAIR)
- KIM NORTON (VICE CHAIR)
- MARK THEIN (TREASURER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
With mayo clinic at its heart, the destination medical center (dmc) initiative will be the catalyst to position rochester, Minnesota as the world's premier destination center for health and wellness; attracting people, investment, and jobs to america's city for health and supporting the economic growth of Minnesota and its biosciences sector.
What it reported doing in 2024
Oversight, preparation and implementation of the development plan - an in depth study of infrastructure, planning, and development opportunities, and framework to support the development of rochester as a destination medical center.
Operating model
- Revenue model
- Grant-funded. 100% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 92
- Accountability: 88
- Sustainability: 28
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 94.3%; rating input score 94
- Program expense ratio: 94.3%; rating input score 94
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0%; rating input score 33; 33rd percentile among comparable filings
- Total-asset coverage ratio: 0.15; rating input score 4; 4th percentile among comparable filings
- Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings
Growth
- Program expense growth: -6% per year; rating input score 0; 4th percentile among comparable filings
- Revenue growth: -6.5% per year; rating input score 0; 3rd percentile among comparable filings
- Asset growth: -7.6% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 94.3% of revenue deployed · 94.3% of spending went to programs
- Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $2.6M in reported program spending
- Leadership: top reported pay $0 · 8 people listed
- Highest-paid contractors: 1 contractor listed · $2.6M reported
- Consistency: 21 of 21 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 11 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 33/100.
- High — Sustainability: Total-asset coverage ratio scored 4/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 5/100.