Michigan Electrical Employees Heal… - Form 990 Financial Data

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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

Phone

2486580800

Tax Period

2024-09-01 to 2025-08-31

Michigan Electrical Employees Health Plan, founded in 1953, is a mid-sized nonprofit that reported $75.2M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $11.3M, a strong 15% operating margin.

Mission

PROVIDE HEALTH AND WELFARE BENEFITS.

Program Service Accomplishments

Program 1

Expenses: $63,873,051

TO PROVIDE LIFE, DISABILITY INCOME AND HEALTH CARE BENEFITS FOR ELIGIBLE PLAN PARTICIPANTS.

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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 $73,315,471

Investment Income $1,788,931

Other Revenue $114,008

TOTAL REVENUE $75,218,410

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $63,873,051

Other Expenses $4,131,127

TOTAL EXPENSES $63,873,051

Year-over-Year Comparison

	2024	2023	Change
Revenue	$75,218,410	$61,804,185	+0.2%
Expenses	$63,873,051	$57,219,337	+0.1%
Net Income	$11,345,359	$4,584,848	+1.5%

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

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

$637,059

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AARON PANGBORN	SECRETARY	1.00	Director	$0	$40,577	$179,981
EVAN ALLARDYCE	TRUSTEE	1.00	Director	$0	$44,696	$166,863
KURTIS MONROE	TRUSTEE	1.00	Director	$0	$43,395	$145,564
DAVID FASHBAUGH	TRUSTEE	1.00	Director	$0	$39,543	$144,651
NEIL PARISH	CHAIRMAN	1.00	Director	$0	$0	$0
BRYAN BENTON	TRUSTEE	1.00	Director	$0	$0	$0
ANDY MOSER	TRUSTEE	1.00	Director	$0	$0	$0
CHAD HUNT	TRUSTEE	1.00	Director	$0	$0	$0
MEGAN DOHERTY	TRUSTEE	1.00	Director	$0	$0	$0
LEAH ANTON	TRUSTEE	1.00	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
2025	$75,218,410	$63,873,051	$87,912,592	$11,345,359
2024	$61,804,185	$57,219,337	$69,030,982	$4,584,848
2023	$47,187,873	$45,892,148	$56,022,223	$1,295,725
2022	$44,503,451	$40,456,172	$50,991,660	$4,047,279
2021	$46,423,003	$46,698,461	$59,225,707	$-275,458
2020	$37,852,895	$37,383,409	$51,816,663	$469,486
2019	$38,222,490	$39,242,173	$50,280,389	$-1,019,683
2018	$37,253,227	$37,358,967	$51,807,636	$-105,740

Michigan Electrical Employees Health Plan