REHABILITATION INSTITUTE OF MICHIGAN FOUNDATION (EIN 381417366) - 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

1953

Legal Domicile

Principal Officer

KATHLEEN SPILLANE KNIGHT

Phone

3137459731

Tax Period

2023-01-01 to 2023-12-31

REHABILITATION INSTITUTE OF MICHIGAN FOUNDATION, founded in 1953, is a small nonprofit in the Health Care sector that reported $648K in total revenue in fiscal year 2023. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $819K exceeded revenue, resulting in a 26% operating deficit.

Mission

THE REHABILITATION INSTITUTE OF MICHIGAN FOUNDATION (THE "RIM FOUNDATION") IS DEDICATED TO PROMOTING THE REHABILITATION OF PERSONS WITH LIFE-ALTERING DISABILITIES THROUGH THE SUPPORT OF RESEARCH, EDUCATION, AND COMMUNITY BENEFIT PROGRAMS.

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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 $463,613

Program Service Revenue $0

Investment Income $348,706

Other Revenue $-164,548

TOTAL REVENUE $647,771

Expense Breakdown

Grants Paid $202,064

Salaries & Benefits $219,756

Fundraising Expenses $104,546

Program Expenses $580,141

Other Expenses $397,569

TOTAL EXPENSES $819,389

Year-over-Year Comparison

	2023	2022	Change
Revenue	$647,771	$536,562	+0.2%
Expenses	$819,389	$994,361	-0.2%
Net Income	$-171,618	$-457,799	-0.6%

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

$144,600

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD WIDGREN	CHAIR	4.00	Officer Director	$0	$0	$0
ANTHONY FILIPPIS	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
BARRY CLAY	TREASURER	2.00	Officer Director	$0	$0	$0
NICOLE ULRICH	SECRETARY	2.00	Officer Director	$0	$0	$0
M SAFWAN BADR MD	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY CASH	DIRECTOR	2.00	Director	$0	$0	$0
ANTHONY COLUCCI DO	DIRECTOR	2.00	Director	$0	$0	$0
RON HENRY	DIRECTOR	2.00	Director	$0	$0	$0
PATTY JOBBIT MSA PT	DIRECTOR	2.00	Director	$0	$0	$0
JOEL KEIPER	DIRECTOR	2.00	Director	$0	$0	$0
BELVIN LILES	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM RESTUM PHD	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT WELCH MD	DIRECTOR	2.00	Director	$0	$0	$0
KATHLEEN SPILLANE KNIGHT	PRESIDENT	40.00	Officer	$144,600	$0	$144,600

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	$647,771	$819,389	$7,635,481	$-171,618
2022	$536,562	$994,361	$7,302,426	$-457,799
2021	$5,229,943	$491,962	$8,748,780	$4,737,981
2020	$276,125	$499,927	$3,762,588	$-223,802
2019	$1,655,875	$512,134	$3,781,144	$1,143,741
2018	$376,383	$501,613	$2,344,963	$-125,230

REHABILITATION INSTITUTE OF MICHIGAN FOUNDATION