MICHIGAN PSYCHIATRIC SOCIETY (EIN 237259781) - 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

1973

Legal Domicile

Principal Officer

THEADIA CAREY MD

Phone

5177023366

Tax Period

2024-01-01 to 2024-12-31

MICHIGAN PSYCHIATRIC SOCIETY, founded in 1973, is a small nonprofit that reported $162K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Net assets of $799K represent 59 months of operating reserves.

Mission

MISSION IS TO REPRESENT THE INTERESTS AND PROFESSIONAL NEEDS OF PSYCHIATRIC PHYSICIANS IN MICHIGAN WHILE STRIVING TO ENSURE QUALITY CARE FOR PEOPLE WITH MENTAL DISORDERS AND THEIR FAMILIES THROUGH PROMOTION OF EDUCATION, RESEARCH AND ADVOCACY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $147,774

Investment Income $14,008

Other Revenue $0

TOTAL REVENUE $161,782

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $60,434

Other Expenses $177,587

TOTAL EXPENSES $177,587

Year-over-Year Comparison

	2024	2023	Change
Revenue	$161,782	$174,328	-0.1%
Expenses	$177,587	$186,519	0.0%
Net Income	$-15,805	$-12,191	+0.3%

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

N/A

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM BEECROFT MD	PRESIDENT EL	N/A	Officer Director	$0	$0	$0
BIBHAS SINGLA MD	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
THEADIA CAREY MD	PRESIDENT	N/A	Officer Director	$0	$0	$0
DANIEL TUINSTRA MD	SECRETARY/TR	N/A	Officer Director	$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	$161,782	$177,587	$822,621	$-15,805
2023	$174,328	$186,519	$729,507	$-12,191
2022	$166,308	$159,048	$634,873	$7,260
2021	$139,268	$141,668	$777,454	$-2,400
2020	$137,452	$147,143	$663,066	$-9,691
2019	$190,789	$258,841	$605,304	$-68,052
2018	$188,517	$189,071	$567,048	$-554

MICHIGAN PSYCHIATRIC SOCIETY