DESTINATION MEDICAL CENTER ECONOMIC DEVELOPMENT AGENCY

Address
195 S BROADWAY
ROCHESTER, MN 55904
Contact
Website: http://www.dmc.mn
Phone: +1 (507) 216-9720
Nonprofit
NTEE: E112 - Health care
EIN: 46-4893585

Mission

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 THE MAYO CLINIC'S MISSION BY PROVIDING THE IDEAL PATIENT, COMPANION, VISITOR AND COMMUNITY MEMBER EXPERIENCE.
 201620152014
Basic features of the organization
Year of formation2013
Subsection code03
PF filing required0  
Metropolitan statistical area6820
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel  $192,696.00
Sum of reportable (W2/1099) compensation$280,344.00$0.00$0.00
Number of employees540
Number of people compensated >$100k200
Number of volunteers10128
Number of highly compensated contractors227
Personnel
Bell, Jerry
TitleBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personJERRY BELLJERRY BELLJERRY BELL
Position of compensated person
Current individual trustee or directorTrueTrueTrue
Average hours per week working for org4.004.004.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00
Bolton, Jeffrey
TitleBOARD CHAIRBOARD CHAIRBOARD CHAIR
Name of key/compensated personJEFFREY BOLTONJEFFREY BOLTONJEFFREY BOLTON
Position of compensated person
Current individual trustee or directorTrueTrueTrue
Average hours per week working for org4.004.004.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$73,520.00$67,344.00$63,247.00
Corresponding comp from related orgs
Reportable compensation from related orgs $1,205,545.00$1,024,209.00$904,718.00
Average hours per week working for related orgs40.0040.0040.00
Clarke, Lisa
TitleEXEC DIRECTOR/BOARD MEMBEREXEC DIRECTOR/BOARD MEMBEREXEC DIRECTOR/BOARD MEMBER
Name of key/compensated personLISA CLARKELISA CLARKELISA CLARKE
Position of compensated person
Current individual trustee or directorTrueTrueTrue
Average hours per week working for org40.0040.0040.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$58,503.00$49,494.00$42,880.00
Corresponding comp from related orgs
Reportable compensation from related orgs $232,838.00$214,931.00$195,789.00
Average hours per week working for related orgs10.0010.0010.00
Fisher, Thomas
TitleBOARD MEMBER  
Name of key/compensated personTHOMAS FISHER  
Position of compensated person
Current individual trustee or directorTrue  
Average hours per week working for org4.00  
Reportable compensation from org$0.00  
Other comp, non-reportable, from org and related orgs$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Average hours per week working for related orgs0.00  
Harrington, Kathleen
Title SECRETARYSECRETARY
Name of key/compensated person KATHLEEN HARRINGTONKATHLEEN HARRINGTON
Position of compensated person
Average hours per week working for org 4.004.00
Reportable compensation from org $0.00$0.00
Other comp, non-reportable, from org and related orgs $60,915.00$61,939.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $269,910.00$258,111.00
Average hours per week working for related orgs 40.0040.00
Hoffman, Harry
TitleBOARD MEMBER  
Name of key/compensated personHARRY HOFFMAN  
Position of compensated person
Current individual trustee or directorTrue  
Average hours per week working for org4.00  
Reportable compensation from org$0.00  
Other comp, non-reportable, from org and related orgs$522,693.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $1,504,081.00  
Average hours per week working for related orgs40.00  
Orr, Nancy
TitleBOARD MEMBER - PART YEARBOARD MEMBER 
Name of key/compensated personNANCY ORRNANCY ORR 
Position of compensated person
Current individual trustee or directorTrueTrue 
Average hours per week working for org4.004.00 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$36,699.00$290,182.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $463,940.00$370,011.00 
Average hours per week working for related orgs40.0040.00 
Otley, Clark
TitleVICE CHAIRVICE CHAIR 
Name of key/compensated personCLARK OTLEYCLARK OTLEY 
Position of compensated person
Current individual trustee or directorTrueTrue 
Average hours per week working for org4.004.00 
Reportable compensation from org$0.00$0.00 
Other comp, non-reportable, from org and related orgs$68,298.00$57,948.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $888,570.00$792,248.00 
Average hours per week working for related orgs40.0040.00 
Schmidt, Bradley
TitleTREASURERTREASURERTREASURER
Name of key/compensated personBRADLEY SCHMIDTBRADLEY SCHMIDTBRADLEY SCHMIDT
Position of compensated person
Average hours per week working for org4.004.004.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$31,923.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$5,749.00$98,734.00
Average hours per week working for related orgs0.0040.0040.00
Seeb, Patrick
TitleDIRECTOR OF ECONOMIC DEVELOPMENT AND PLACEMAKING  
Name of key/compensated personPATRICK SEEB  
Position of compensated person
Average hours per week working for org40.00  
Reportable compensation from org$179,440.00  
Other comp, non-reportable, from org and related orgs$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Average hours per week working for related orgs0.00  
Sexton, Erin
TitleSECRETARY  
Name of key/compensated personERIN SEXTON  
Position of compensated person
Current individual trustee or directorTrue  
Average hours per week working for org4.00  
Reportable compensation from org$0.00  
Other comp, non-reportable, from org and related orgs$44,325.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $164,932.00  
Average hours per week working for related orgs40.00  
Simmons, Patricia
Title BOARD CHAIR - FORMERBOARD CHAIR
Name of key/compensated person PATRICIA SIMMONSPATRICIA SIMMONS MD
Position of compensated person
Current individual trustee or director  True
Average hours per week working for org 0.004.00
Reportable compensation from org $0.00$0.00
Other comp, non-reportable, from org and related orgs $56,225.00$70,971.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $44,287.00$376,040.00
Average hours per week working for related orgs 0.0040.00
Smith, Gary
TitleBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personGARY SMITHGARY SMITHGARY SMITH
Position of compensated person
Current individual trustee or directorTrueTrueTrue
Average hours per week working for org4.004.004.00
Reportable compensation from org$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00
Average hours per week working for related orgs0.000.000.00
Welder, Mary
TitleDIRECTOR OF MARKETING AND COMMUNICATION  
Name of key/compensated personMARY WELDER  
Position of compensated person
Average hours per week working for org40.00  
Reportable compensation from org$100,904.00  
Other comp, non-reportable, from org and related orgs$0.00  
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00  
Average hours per week working for related orgs0.00  
Wood, Wendy
Title VICE CHAIRVICE CHAIR
Name of key/compensated person WENDY WARREN WOODWENDY WARREN WOOD
Position of compensated person
Current individual trustee or director TrueTrue
Average hours per week working for org 4.004.00
Reportable compensation from org $0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00
Average hours per week working for related orgs 0.000.00
Zaheer, Sri
Title BOARD MEMBERBOARD MEMBER
Name of key/compensated person SRI ZAHEER PHDSRI ZAHEER PHD
Position of compensated person
Current individual trustee or director TrueTrue
Average hours per week working for org 4.004.00
Reportable compensation from org $0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00
Average hours per week working for related orgs 0.000.00
Purpose: mission, activities, & accomplishments
Mission or significant activitiesDMC ECONOMIC DEVELOPMENT AGENCY (EDA) IS AN ECONOMIC DEVELOPMENT CORPORATION FORMED BY 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.DMC ECONOMIC DEVELOPMENT AGENCY (EDA) IS AN ECONOMIC DEVELOPMENT CORPORATION FORMED BY 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.DMC ECONOMIC DEVELOPMENT AGENCY (EDA) IS AN ECONOMIC DEVELOPMENT CORPORATION FORMED BY 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.
Program service expenses, total$1,414,487.00$2,852,763.00$5,164,530.00
Programs, including revenue & expenses
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.
Program expenses$1,414,487.00$2,852,763.00$5,164,530.00
Program revenue$15,500.00  
Program descriptionTHE 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.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.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 data
Revenue
Total revenue$2,069,225.00$3,245,774.00$4,898,473.00
Revenue from contributions (total)$2,053,725.00$3,245,774.00$4,898,473.00
Investment income, current yr$0.00$0.00$0.00
Total revenue from grants, etc., current yr$2,053,725.00$3,245,774.00$4,898,473.00
Total unrelated business revenue$0.00$0.00$0.00
Other revenue, current yr$0.00$0.00$0.00
Net unrelated business taxable revenue$0.00$0.00$0.00
Program service revenue (total)$15,500.00$0.00$0.00
Gross receipts$2,069,225.00$3,245,774.00$4,898,473.00
Sources of contributions
Contributions from related organizations$1,978,725.00$3,245,774.00$4,898,473.00
Revenue from all other contributions$75,000.00  
Other types of revenue
Net rental income $0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$1,974,052.00$3,231,637.00$5,886,058.00
Total functional expenses: program service $1,414,487.00$2,852,763.00$5,164,530.00
Total functional expenses: management and general$559,565.00$378,874.00$721,528.00
Total functional expenses: fundraising$0.00$0.00$0.00
Fees for services
Lobbying fees (total) $40,556.00$20,004.00
Legal fees (total)$200.00$215,363.00$478,559.00
Fundraising service fees (total)$0.00$0.00$0.00
Assets and liabilities
Total assets$440,907.00$242,417.00$1,240,984.00
Total assets, beginning of year$242,417.00$1,240,984.00 
Total liabilities$331,612.00$228,295.00$1,240,999.00
Total liabilities, beginning of year$228,295.00$1,240,999.00 
Unrestricted net assets, end of yr$34,295.00$14,122.00-$15.00
Temporarily restricted net assets$75,000.00  
Net assets$109,295.00$14,122.00-$15.00
Net assets, beginning of year$14,122.00-$15.00 
Other liabilities$50,000.00$50,000.00$10,000.00
Cash: non-interest bearing$116,153.00$42,980.00$9,985.00
Cash: non-interest bearing, beginning of year$42,980.00$9,985.00 
Other financial variables
Revenue less expenses$95,173.00$14,137.00-$987,585.00
Advertising (total)$556,210.00$359,341.00$241,236.00
Accounts receivable, net$269,343.00$168,329.00$1,208,510.00
Prepaid expenses & deferred charges$27,250.00$0.00$22,489.00
Accounts payable & accrued expenses$254,362.00$178,295.00$1,208,510.00
Deferred revenue$27,250.00$0.00$22,489.00
Total net assets or fund balances$109,295.00$14,122.00-$15.00
Depreciation, depletion, amortization$6,754.00$1,709.00 
Governance and accountability
Number of voting members777
Number of independent voting members344
Financial sheets auditedTrueTrueTrue
Relationships among key personnelTrue  
Accrual accountingTrueTrueTrue
Tax year start date2016-01-012015-01-012014-01-01
Tax year end date2016-12-012015-12-012014-12-01
Indicators for schedules (selected)
Lobbied TrueTrue
Org has controlled entityTrueTrueTrue
Org transacted with controlled entityTrueTrue 
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990
Reason for form submission
Address change True 
First filing  True
Date e-filing submitted2018-01-052017-04-102016-02-18
IRS schema version2016v3.02015v2.12014v5.0
Filing identifier201733189349311033201643169349302524201523209349308332
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