WASHTENAW HEALTH PLAN

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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

2001

Legal Domicile

Principal Officer

JEREMY LAPEDIS

Phone

7347149929

Tax Period

2023-10-01 to 2024-09-30

WASHTENAW HEALTH PLAN, founded in 2001, is a community nonprofit in the Health Care sector that reported $3.6M in total revenue in fiscal year 2023. Revenue surged 58% from the prior year, signaling strong growth momentum. The organization ran a surplus of $786K, a strong 22% operating margin.

Mission

HELPING LOW-INCOME AND UNINSURED PEOPLE ACCESS HIGH QUALITY HEALTH CARE AND HEALTH-PROMOTING SERVICES.

Program Service Accomplishments

Program 1

Expenses: $1,605,009 Revenue: $1,250,591

WASHTENAW HEALTH PLAN COVERAGE. WE PROVIDE HEALTHCARE COVERAGE TO LOW- INCOME INDIVIDUALS WHO DON'T QUALIFY FOR ANY OTHER COVERAGE. AS OF 9/30/24 THERE WERE 3,410 MEMBERS ENROLLED IN THE WASHTENAW...

WASHTENAW HEALTH PLAN COVERAGE. WE PROVIDE HEALTHCARE COVERAGE TO LOW- INCOME INDIVIDUALS WHO DON'T QUALIFY FOR ANY OTHER COVERAGE. AS OF 9/30/24 THERE WERE 3,410 MEMBERS ENROLLED IN THE WASHTENAW HEALTH PLAN.

Program 2

Expenses: $870,114

HEALTH INSURANCE ENROLLMENT AND ADDRESSING THE SOCIAL DETERMINANTS OF HEALTH. EACH YEAR, THE WASHTENAW HEALTH PROJECT HELPS COUNTY RESIDENTS GAIN ACCESS TO MEDICAID, MARKETPLACE, AND...

HEALTH INSURANCE ENROLLMENT AND ADDRESSING THE SOCIAL DETERMINANTS OF HEALTH. EACH YEAR, THE WASHTENAW HEALTH PROJECT HELPS COUNTY RESIDENTS GAIN ACCESS TO MEDICAID, MARKETPLACE, AND EMPLOYER-SPONSORED COVERAGE. THE WASHTENAW HEALTH PROJECT HUMANIZES THE PROCESS OF FINDING HEALTHCARE COVERAGE THAT IS THE RIGHT MATCH FOR EACH PERSON. CLIENTS OFTEN COME TO US WHEN THEY HAVE BEEN UNABLE TO ACCESS HEALTH CARE THROUGH OTHER PROGRAMS. WHILE HELPING CLIENTS WITH HEALTHCARE COVERAGE, WE ALSO HELP THEM ADDRESS OTHER BARRIERS TO HEALTHCARE-SUCH AS TRANSPORTATION, BILLS, CHILDCARE, LANGUAGE ASSISTANCE AND FOOD ACCESS.

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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 $2,136,815

Program Service Revenue $1,250,591

Investment Income $236,498

Other Revenue $0

TOTAL REVENUE $3,623,904

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,475,123

Other Expenses $2,837,518

TOTAL EXPENSES $2,837,518

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,623,904	$2,295,564	+0.6%
Expenses	$2,837,518	$2,193,834	+0.3%
Net Income	$786,386	$101,730	+6.7%

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

Employees

N/A

Volunteers

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
RON ROMERO MD	PRESIDENT	1.00	Officer Director	$0	$0	$0
JIMENA LOVELUCK	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
ALONZO T LEWIS	TREASURER	1.00	Officer Director	$0	$0	$0
ALFREDA ROOKS	SECRETARY	1.00	Officer Director	$0	$0	$0
ROBERT F GILLETT	PRESIDENT EM	1.00	Officer Director	$0	$0	$0
COREY DEAN MD	DIRECTOR	1.00	Director	$0	$0	$0
GREG DILL	DIRECTOR	1.00	Director	$0	$0	$0
CHARO LEDON	DIRECTOR	1.00	Director	$0	$0	$0
MARKELL MILLER	DIRECTOR	1.00	Director	$0	$0	$0
MIKE RANDALL	DIRECTOR	1.00	Director	$0	$0	$0
BRENT WILLIAMS MD	DIRECTOR	1.00	Director	$0	$0	$0
DOUGLAS STRONG	DIRECTOR	1.00	Director	$0	$0	$0
EBONY PARKER-FEATHERSTONE	DIRECTOR	1.00	Director	$0	$0	$0
JEREMY LAPEDIS	EXECUTIVE DI	32.00	Officer	$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	$3,623,904	$2,837,518	$3,919,772	$786,386
2023	$2,295,564	$2,193,834	$3,055,843	$101,730
2022	$1,639,994	$2,060,787	$2,909,271	$-420,793
2021	$2,156,140	$1,889,129	$3,253,300	$267,011
2020	$1,774,789	$1,964,429	$3,066,364	$-189,640
2019	$1,266,925	$2,177,373	$3,153,518	$-910,448
2018	$850,488	$2,102,424	$3,978,799	$-1,251,936