GRAND RAPIDS MEDICAL EDUCATION PARTNERS INC

EIN: 237270669 501(c)(3)

GRAND RAPIDS, MI

Total Revenue
$17,092,217
Total Expenses
$17,144,052
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1971
Legal Domicile
MI
Principal Officer
DARYL D HERN JR
Phone
6167326248
Tax Period
2017-07-01 to 2018-06-30

GRAND RAPIDS MEDICAL EDUCATION PARTNERS INC, founded in 1971, is a mid-sized nonprofit that reported $17.1M in total revenue in fiscal year 2017. Revenue fell 49% from the prior year — a significant decline worth monitoring.

Mission

SPONSORS MEDICAL RESIDENT PROGRAMS, COORDINATES ROTATIONS FOR PROGRAM, AND PROVIDES CONTINUING MEDICAL EDUCATION OPPORTUNITIES FOR COMMUNITY PHYSICIANS.

Program Service Accomplishments

Program 1
Expenses: $15,033,147 Revenue: $17,092,217

GRADUATE MEDICAL EDUCATION, COORDINATION OF PHYSICIAN RESIDENT TRAINING AT LOCAL AREA HOSPITALS AND PHYSICIAN OFFICES, WITH APPROX. 560 TOTAL LEARNERS AND 328 LEARNERS EMPLOYED BY GRMEP.

Program 2
Expenses: $526,806

UNDERGRADUATE MEDICAL EDUCATION, COORDINATION OF MEDICAL STUDENTS: 394 MEDICAL STUDENTS (241 MSU CHM STUDENTS), 140 PA STUDENTS (92 GVSU PA STUDENTS), AND 195 NURSE PRACTITIONER STUDENTS (70 GVSU NP...

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UNDERGRADUATE MEDICAL EDUCATION, COORDINATION OF MEDICAL STUDENTS: 394 MEDICAL STUDENTS (241 MSU CHM STUDENTS), 140 PA STUDENTS (92 GVSU PA STUDENTS), AND 195 NURSE PRACTITIONER STUDENTS (70 GVSU NP STUDENTS).

Program 3
Expenses: $159,103

GENERAL RESEARCH CONSULTATION AND PARTICIPATION FOCUSING ON COMMUNITY HEALTH ISSUES. ALSO INCLUDES CONTINUING MEDICAL EDUCATION AND OTHERS.

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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%)

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Financial Overview (2017)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $17,064,168
Investment Income $0
Other Revenue $28,049
TOTAL REVENUE $17,092,217

Expense Breakdown

Grants Paid $0
Salaries & Benefits $13,078,913
Fundraising Expenses $0
Program Expenses $15,719,056
Other Expenses $4,065,139
TOTAL EXPENSES $17,144,052

Year-over-Year Comparison

2017 2016 Change
Revenue $17,092,217 $33,221,654 -0.5%
Expenses $17,144,052 $33,180,916 -0.5%
Net Income $-51,835 $40,738 -2.3%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
N/A
Employees
330
Volunteers
3

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
4
$349,695
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SETH WOLK SECRETARY/ TREASURER 1.00
Officer Director
$0 $0 $0
DAVID KRHOVSKY CHAIR 1.00
Officer Director
$0 $0 $0
DARYL HERN PRESIDENT & CEO 40.00
Officer
$175,912 $13,451 $189,363
NANCY J BOLTHOUSE DIRECTOR OF HR 40.00
Officer
$136,255 $24,077 $160,332
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
2018 $17,092,217 $17,144,052 No data $-51,835
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