MICHIGAN ACADEMY OF PHYSICIAN ASSOCIATES (EIN 382112328) - 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

1975

Legal Domicile

Principal Officer

ADAM STORTS

Phone

4143591676

Tax Period

2024-07-01 to 2025-06-30

MICHIGAN ACADEMY OF PHYSICIAN ASSOCIATES, founded in 1975, is a small nonprofit that reported $613K in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

TO BE AN ESSENTIAL RESOURCE AND THE PRIMARY ADVOCATE FOR PHYSICIAN ASSISTANTS IN THE MICHIGAN.

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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 $8,090

Program Service Revenue $576,450

Investment Income $19,082

Other Revenue $9,748

TOTAL REVENUE $613,370

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $634,035

TOTAL EXPENSES $634,035

Year-over-Year Comparison

	2024	2023	Change
Revenue	$613,370	$560,566	+0.1%
Expenses	$634,035	$593,855	+0.1%
Net Income	$-20,665	$-33,289	-0.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REBECCA CRONIN	PRESIDENT	10.00	Officer Director	$0	$0	$0
MIKE WHITE	PRESIDENT-ELECT	10.00	Officer Director	$0	$0	$0
ASHLEY MALLIETT	IMMEDIATE PAST PRESIDENT	10.00	Officer Director	$0	$0	$0
ADAM SHORTS	TREASURER	10.00	Officer Director	$0	$0	$0
JONATHAN ALBERS	SECRETARY (THRU 3/31)	10.00	Officer Director	$0	$0	$0
GARRETT SMIGELSKI	SECRETARY (FROM 4/1)	10.00	Officer Director	$0	$0	$0
JODI MCCOLLUM	REGION 1 REPRESENTATIVE	2.00	Director	$0	$0	$0
JON BORTON	REGION 2 REPRESENTATIVE	2.00	Director	$0	$0	$0
SUSANNA STORENG	REGION 3 REPRESENTATIVE	2.00	Director	$0	$0	$0
JANELL COLAO	REGION 4 REPRESENTATIVE	2.00	Director	$0	$0	$0
KATIE LUKOVICH	REGION 5 REPRESENTATIVE	2.00	Director	$0	$0	$0
CRISTINA BUSTAMANTE	REGION 6 REPRESENTATIVE	2.00	Director	$0	$0	$0
YOLONDA FREEMAN HILDRETH	REGION 7 REPRESENTATIVE	2.00	Director	$0	$0	$0
THADD GORMAS	EXECUTIVE DIRECTOR (THRU 5/25)	40.00	Officer	$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	$613,370	$634,035	$969,014	$-20,665
2024	$560,566	$593,855	$950,048	$-33,289
2023	$538,712	$496,579	$891,146	$42,133
2022	$457,786	$465,052	$774,030	$-7,266
2021	$375,975	$269,687	$872,429	$106,288
2020	$469,277	$505,958	$699,232	$-36,681
2019	$545,687	$491,352	$742,088	$54,335
2018	$537,604	$456,704	$683,428	$80,900

MICHIGAN ACADEMY OF PHYSICIAN ASSOCIATES