SEIU HEALTHCARE MICHIGAN (EIN 010897469) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

SEIU HEALTHCARE MICHIGAN, founded in 2007, is a community nonprofit that reported $4.2M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $4.0M left a modest 5% surplus.

Mission

TO SECURE IMPROVED WAGES, HOURS AND WORKING CONDITIONS FOR ITS MEMBERS THROUGH ORGANIZING, NEGOTIATIONS AND COLLECTIVE BARGAINING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,467,758

Investment Income $132

Other Revenue $732,860

TOTAL REVENUE $4,200,750

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,057,255

Fundraising Expenses $0

Program Expenses $3,972,180

Other Expenses $1,772,525

TOTAL EXPENSES $3,972,180

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,200,750	$3,198,654	+0.3%
Expenses	$3,972,180	$3,366,655	+0.2%
Net Income	$228,570	$-168,001	-2.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
LARRY ALCOFF	DEPUTY-TRUSTEE	Director	$0	$0	$0
KIMBERLY EVON	TRUSTEE	Director	$0	$0	$0
DIAN PALMER	TRUSTEE		$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$4,200,750	$3,972,180	$655,375	$228,570
2022	$3,198,654	$3,366,655	$588,199	$-168,001
2021	$3,586,374	$3,582,036	$688,721	$4,338
2020	$4,346,001	$4,001,361	$814,417	$344,640
2019	$4,631,234	$5,191,263	$444,952	$-560,029
2018	$4,963,455	$5,321,647	$1,413,817	$-358,192

SEIU HEALTHCARE MICHIGAN