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Nonprofiteer
← DESTINATION MEDICAL CENTER CORPORATION

Form 990 for tax year 2023

Filed by DESTINATION MEDICAL CENTER CORPORATION.

Totals

Total revenue
$2,402,541
Total expenses
$2,402,541
Contributions and grants received
$2,402,468
Grants paid
$0
Program service revenue
$0
Investment income
$73
Other revenue
$0
Total assets, end of year
$476,415
Total liabilities, end of year
$476,415
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$2,236,768
Management and general expenses
$165,773
Fundraising expenses
$0
Program service expenses (Part III)
$2,236,768

Program services were 93.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,402,468

  • 3 · Investment income

    total $73 · excluded $73

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $106,706 · management and general $106,706

  • 11c · Fees: accounting

    total $6,398 · management and general $6,398

  • 11g · Fees: other

    total $9,335 · management and general $9,335

  • 16 · Occupancy

    total $31,778 · management and general $31,778

  • 17 · Travel

    total $1,857 · management and general $1,857

  • 20 · Interest

    total $4,097 · program services $4,097

  • 23 · Insurance

    total $9,699 · management and general $9,699

  • 24a · Other expenses: PROGRAM COSTS

    total $2,232,671 · program services $2,232,671

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,181 · end of year $879

  • 9 · Prepaid expenses and deferred charges

    beginning of year $61,307 · end of year $51,854

  • 15 · Other assets

    beginning of year $268,490 · end of year $423,682

  • 17 · Accounts payable and accrued expenses

    beginning of year $169,671 · end of year $323,561

  • 19 · Deferred revenue

    beginning of year $61,307 · end of year $51,854

  • 25 · Other liabilities

    beginning of year $101,000 · end of year $101,000

Mission and programs · 2023

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.

Activities or mission (Part I)

PLANNING & IMPLEMENTATION OF DESTINATION MEDICAL CENTER DEVELOPMENT IN DOWNTOWN ROCHESTER, MN.

  • 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.

    Expenses $2,236,768

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Pamela Wheelock

    CHAIR

    Total calculated
    $0
    Hours/week
    6

  • Kim Norton

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Mark Thein

    TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Paul Williams

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • James Campbell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Rt Rybak

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Doug M Baker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Brooke Carlson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
19 September 2024
IRS schema version
2023v5.1
Source object
202422749349301367

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