Where does the money go?11/25/20 10:33:am
Following a successful year, a for-profit organization will send excess funds back to shareholders. But as a private, not-for-profit system, what happens to those funds at Rogers? Instead of going to shareholders, Rogers’ excess earnings are instead reinvested into our own system, the Foundation, and into our team to advance our mission of providing high-quality mental health and addiction treatment that helps people reach their full potential for health and well-being.
Rogers ended FY2020 with $57.9 million in earnings after expenses, or EBIDA, making up 19.3% of total earnings. The $57.9 million is then divided among the Gainshare program, debt service, the Charitable Giving Fund and Foundation, and program and location growth.
“Being able to give back to employees, patients, and our communities in such a challenging year is a testament to everyone’s hard work and dedication to our Mission. We know the need for high-quality, compassionate mental health and addiction treatment is rising across the country, and being able to reward our hardworking team in the form of the gainshare bonus is so gratifying.” ~ Pat Hammer, president and CEO, Rogers Behavioral Health
“The Foundation’s financial resources help many patients to receive the amount of treatment required for long-term recovery. We are grateful that Rogers prioritizes the needs of our patients with this generosity to the Charitable Giving Fund and Foundation.” ~ Matthias Schueth, executive vice president, Rogers Behavioral Health Foundation