2019 FINANCIAL SUMMARY
Medica’s Board of Directors
John Buck *† CEO Whitefish Ventures
2019 was a strong financial year for Medica. That’s good news because as a nonprofit, our earnings don’t go to outside shareholders. Instead, they are invested in the work we do and the communities we serve.
Rajesh Aggarwal, Ph.D. Professor of Finance, D’Amore-McKim School of Business Northeastern University
Combined Balance Sheet (in millions): ASSETS
Brigid Bonner Chief Experience Officer CaringBridge
Cash and Investments
Peter Kelly, M.D., M.H.A. Vice President & Executive Medical Director of Perioperative Services M Health Fairview Samuel Leon, M.D. * Physician Minnesota Gastroenterology, P.A.
LIABILITIES AND NET ASSETS
Total Liabilities and Net Assets
John Naylor President & CEO Medica
Combined Statement of Operation and Changes in Net Assets (in millions): REVENUE 2019 2018 Premiums, Net of Reinsurance $4,532 $4,351 Administrative Service Contract Fees $125 $145 Total Revenue $4,657 $4,497
John Stanoch, J.D. * Retired Judge Hennepin County District Court Earl D. Stratton Retired Executive Vice President & Chief Information Officer TCF Financial Corporation Esther Tomljanovich, J.D. * Retired Associate Justice Minnesota Supreme Court Mary Twinem * Retired Executive Vice President, Chief Financial Officer & Treasurer Buffalo Wild Wings, Inc.
Medical & Other Benefits, Net of Reinsurance
Other Operating Expenses
Investment income, income taxes and other non-operating expenses
Net unrealized gains (losses) on investment
Contributions to the Medica Foundation
Change in Net Assets
* Also a member of the Medica Foundation board † 2019 chair of Medica and Medica Foundation boards
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