Michigan Electrical Employees Health Plan (EIN 382106878) - 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

Tax Period

2023-09-01 to 2024-08-31

Michigan Electrical Employees Health Plan, founded in 1953, is a mid-sized nonprofit that reported $61.8M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $57.2M left a modest 7% surplus.

Mission

PROVIDE HEALTH AND WELFARE BENEFITS.

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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 $0

Program Service Revenue $59,901,700

Investment Income $1,874,522

Other Revenue $27,963

TOTAL REVENUE $61,804,185

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $57,219,337

Other Expenses $3,841,269

TOTAL EXPENSES $57,219,337

Year-over-Year Comparison

	2023	2022	Change
Revenue	$61,804,185	$47,187,874	+0.3%
Expenses	$57,219,337	$45,892,148	+0.2%
Net Income	$4,584,848	$1,295,726	+2.5%

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

$569,858

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EVAN ALLARDYCE	TRUSTEE	1.00	Director	$0	$45,258	$159,378
AARON PANGBORN	SECRETARY	1.00	Director	$0	$35,036	$156,394
DAVID FASHBAUGH	TRUSTEE	1.00	Director	$0	$34,155	$130,798
KURTIS MONROE	TRUSTEE	1.00	Director	$0	$35,937	$123,288
NEIL PARISH	CHAIRMAN	1.00	Director	$0	$0	$0
ANDY MOSSWER	TRUSTEE	1.00	Director	$0	$0	$0
BRYAN BENTON	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS HOGAN	TRUSTEE	1.00	Director	$0	$0	$0
JONAS TALBOTT	TRUSTEE	1.00	Director	$0	$0	$0
PAUL KELLEY	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN COOK	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
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