Overview
What is Destination Medical Center Corporation?
Destination Medical Center Corporation is a nonprofit organization situated in Rochester, Minnesota, specifically at 201 4th Street SE, 204. Their primary mission is to oversee, prepare, and implement the development plan for the Destination Medical Center (DMC) initiative. This project involves a comprehensive study of infrastructure, planning, and development opportunities, as well as establishing a framework to support the growth of Rochester as a global hub for healthcare and wellness. With Mayo Clinic serving as its core, DMC aims to attract people, investments, and jobs, positioning Rochester, Minnesota as the leading destination for healthcare and wellness. The organization supports the economic growth of Minnesota and its biosciences sector.
Official website here: www.dmc.mn
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating.
Destination Medical Center Corporation received a Two-Star rating from Charity Navigator, which reflects a moderate level of accountability and financial health. The organization demonstrates strong governance with a fully independent board and a solid program expense ratio of 92.10%, indicating that the majority of its expenditures are directed towards its mission-driven programs.
However, there are several areas of concern that have impacted its overall rating. The absence of a whistleblower and document retention policy raises questions about the organization's transparency and compliance. Additionally, the missing tax form on its website and a poor liabilities to assets ratio highlight potential financial vulnerabilities that stakeholders should consider.
This AI summary has been generated from information found on Charity Navigator.
Is Destination Medical Center Corporation legitimate?
Destination Medical Center Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Destination Medical Center Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.dmc.mn
What is the mission statement of Destination Medical Center Corporation?
The Destination Medical Center Corporation's mission is to spearhead the transformation of a city into a global hub for health and wellness. With a focus on attracting individuals, investments, and jobs, the corporation aims to position this unspecified city as the world's premier destination in this field. The initiative, driven by a prominent healthcare institution, is expected to stimulate economic growth, particularly in the biosciences sector. The corporation oversees the development plan, conducting in-depth studies on infrastructure, planning, and development opportunities to support the city's transformation into a destination medical center.
Official website here: www.dmc.mn
Who is the CEO of Destination Medical Center Corporation?
Mark Thein is the Chair of Destination Medical Center Corporation.
Official website here: www.dmc.mn
What is the revenue of Destination Medical Center Corporation?
Destination Medical Center Corporation's revenue in 2022 was $2,009,266.
Official website here: www.dmc.mn
Who are the executives of Destination Medical Center Corporation and what are their salaries?
There 8 volunteers at Destination Medical Center Corporation.
Here are 8 key members and their salaries:
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Official website here: www.dmc.mn
Where can I find the form 990 for Destination Medical Center Corporation?
Destination Medical Center Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.dmc.mn
Learn more at the official website: www.dmc.mn
Mission Statement of Destination Medical Center Corporation
Destination Medical Center Corporation, abbreviated as DMC Corporation, is dedicated to spearheading the transformation of a city into a global hub for health and wellness. With a focus on strategic planning and development, the corporation aims to position an unspecified location as the world's premier destination for health-related activities. By collaborating closely with Mayo Clinic, DMC Corporation envisions attracting a substantial influx of people, investments, and job opportunities to this health-centric metropolis. This initiative is expected to bolster the economic growth of the region, particularly its biosciences sector. The corporation's primary role involves overseeing the development plan, conducting comprehensive studies on infrastructure, planning, and potential development opportunities, and establishing a framework to support the city's transformation into a Destination Medical Center.
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Impact
July, 2024
Destination Medical Center Corporation's impact is substantial in driving the development and positioning of Rochester, Minnesota as a premier destination center for health and wellness. With Mayo Clinic at its core, the corporation's focus on infrastructure, planning, and development opportunities serves as a catalyst for attracting people, investment, and jobs to the city. By supporting the economic growth of Minnesota and its biosciences sector, the Destination Medical Center Corporation is actively working towards transforming Rochester into a globally recognized hub for health and well-being.
This information is meant to be a general summary of Destination Medical Center Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $13
- Gross Receipts: $2,009,266
Assets and Liabilities:
- Total Assets: $331,978
- Total Liabilities: $331,978
- Net Assets: $0
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Organization Details
Founding Year
2013
Phone
(507) 328-2850Principal Officer
Mark Thein
Main Address
201 4TH STREET SE 204, ROCHESTER, MN, 55904
Website
www.dmc.mnNTEE Category
Code: S31 - Community improvement
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