Nonprofit

On:
In: Home, Hospitals, Mary Turner, Mayo, Nonprofit, Nurses

By Mary C. Turner, RN

MNA President

 

Mayo Clinic released its 2019 annual financial report at the end of February, and it surely made more than one person’s mouth fall open. A lot of those people, by the way, probably also work on the top floor, management offices of hospitals—not just Mayo.

 

First, here’s the numbers.  Mayo reported the company earned more than $13.8 billion in 2019. That’s money for everything from patient care to Mayo-branded backpacks ($39.95 in the Mayo marketplace store). Out of that, Mayo spent $12.8 billion. This means Mayo’s “operating revenue” is 1 billion dollars! 
… Read more about: Mayo’s Numbers Show NonProfit Financials are Really, Really Big  »

On:
In: Activism, Education, Minnesota Nurses Association, Nonprofit

By Geri Katz

Manager of Practice, Education and Special Projects

and Megan Gavin

MNA Labor Representative

 

MNA member Hans-Peter de Ruiter, PhD, RN, has retired from the Minnesota Nurses Association Foundation Board of Directors after nine years of service, including five years as chair.

 

Hans has led the MNAF board in awarding scholarships and grants to promising students and nurses whose academic pursuits will help support MNA’s mission and goals and make real improvements in care and building power for nurses. Hans led the MNAF board in expanding scholarship offerings considerably.
… Read more about: Thank you to Dr. Hans-Peter de Ruiter  »

big pharma

On:
In: Health Care Reform, Home, Hospitals, Nonprofit

By Tara Fugate

MNA Strategic Researcher

The vast majority of hospitals in Minnesota operate as not-for-profit organizations, which means they are exempt from most local, state, and federal taxes. This privileged tax status is meant to be an acknowledgement of the “community benefits” they provide. However, the definition of community benefit is loose, and guidelines on appropriate levels of community benefit spending are sparse both federally and at the state level.

In Minnesota, there is no law that specifically requires not-for-profit hospitals to provide measurable community benefits.[1] There is, however, a state level reporting requirement on community benefit spending that has existed since 2007.
… Read more about: What is Community Benefit Spending And Why Does It Matter for Not-For-Profit Hospitals?  »

On:
In: Fairview, Health Care Reform, Healthcare, Home, Hospitals, Nonprofit, Nurses

By Tara Fugate

MNA Strategic Researcher

 

Something that still manages to shock a lot of people in the US is the growing number of similarities between nonprofits and for-profit hospitals. In 2013, 7 of the 10 most profitable hospitals in the country were classified as nonprofit. A 2013 study published in Health Affairs, examined factors contributing to hospital profitability. The study examined data from Medicare Cost Reports submitted by 2,993 acute care hospitals and produced a list of the top ten hospitals in the country with the highest profit from patient care (for fiscal year 2013).
… Read more about: Your Guide to the World of Nonprofit Finance-part 1  »