Medica Foundation 2017 Annual Report

2017 FINANCIAL SUMMARY

2017

2016

ASSETS Cash and Investments

$31,977,834

$29,290,892

Total Assets

$31,977,834

$29,290,892

LIABILITIES AND NET ASSETS Liabilities

$1,254,335

$1,204,014

Net Assets

$30,723,499

$28,086,878

Total Liabilities and Net Assets

$31,977,834

$29,290,892

REVENUE Affiliate Contribution

$0

$2,500,000

Investment Income

$1,674,528

$810,399

Total Revenue

$1,674,528

$3,310,399

SUSTAD PHOTOGRAPHY Ben and Caitlin on their wedding day.

EXPENSES Administrative Expenses

$445,422

$421,177

Investment Management Fee

$169,530

$155,279

Supporting Self-Sufficiency Sometimes all that’s needed to keep people healthy and engaged in our community is the equipment to care for themselves. HERO, Healthcare Equipment Recycling Organization is a six-time Medica Foundation grant recipient because of their significant assistance to individuals with disabilities. The most recent grant helped them serve over 5,000 individuals by providing affordable or no-cost medical equipment and supplies. They waived over $80,000 in fees for individuals with verified medical and financial needs and collected more than 190,000 pounds of medical equipment. HERO is a resource for thousands of individuals, whether their need is short and simple, or more complex and long-term. Strength to Stand Ben was diagnosed with multiple sclerosis in his early twenties, just months before marrying his sweetheart, Caitlin. HERO provided a wheelchair, shower chair, Hoyer lift and a special sit-to-stand lift that helped him stand and regain strength in his legs. Thanks to this equipment, therapy and treatments, Ben was using a walker by Thanksgiving, and by Christmas, needed only a cane to walk.

Community Funding

$1,197,000

$1,208,112

“HERO’s unique service of providing donated health care equipment and supplies helps alleviate the burden of high medical care costs. HERO provides resources that help improve our customers’ quality of life by offering them the freedom, mobility and dignity that they deserve. Thanks to the generous support of our donors, including the Medica Foundation, HERO can continue to provide this valuable service for our communities.”

Total Expenses

$1,811,952

$1,784,568

Excess of Revenue over Expenses

$137,424

$1,525,831

Net Assets at the Beginning of Year

$28,086,878

$25,107,908

Net Assets at End of Year

$30,723,499

$28,086,878

Funding Priorities During 2017, the Medica Foundation awarded grants totaling $1.2 million to support the following areas of health:

$300,000 Behavioral Health

$300,000 Early Childhood Health

$200,000 General Health Improvement

$200,000 Rural Health

$200,000 Key Initiative

BRIDGET ERTELT Communications Coordinator, HERO

herofargo.org

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www.medica.com

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