HEALTH ALLIANCE PLAN OF MICHIGAN (EIN 382242827) - 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

1979

Legal Domicile

Principal Officer

MERRILL HAUSENFLUCK

Phone

2487763530

Tax Period

2024-01-01 to 2024-12-31

HEALTH ALLIANCE PLAN OF MICHIGAN, founded in 1979, is a large national nonprofit in the Health Care sector that reported $1.6B in total revenue in fiscal year 2024.

Mission

PROVIDE ACCESS TO QUALITY HEALTH CARE COVERAGE.

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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 $1,616,644,328

Investment Income $19,313,444

Other Revenue $170,811

TOTAL REVENUE $1,636,128,583

Expense Breakdown

Grants Paid $167,500

Salaries & Benefits $66,221,927

Fundraising Expenses $0

Program Expenses $1,583,811,672

Other Expenses $118,635,343

TOTAL EXPENSES $1,609,912,895

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,636,128,583	$1,621,970,158	+0.0%
Expenses	$1,609,912,895	$1,622,285,296	0.0%
Net Income	$26,215,688	$-315,138	-84.2%

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

1036

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

$7,351,375

Total Directors

$13,454,067

Key Employees

$2,903,263

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY A CHAFFKIN	DIRECTOR	1.00	Director	$0	$0	$0
MAMATHA CHAMARTHI	DIRECTOR	1.00	Director	$0	$0	$0
JONI MT DAVIS JD	DIRECTOR	1.00	Director	$0	$0	$0
DENISE G ESSENBERG	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL A GENORD MD	DIRECTOR/PRESIDENT (THRU 11/2024)	58.00	Officer Director	$0	$27,857	$2,051,756
JACALYN S GOFORTH	DIRECTOR- CHAIR	2.00	Officer Director	$0	$0	$25,000
JOHN K GORMAN	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY JACKSON	DIRECTOR	1.00	Director	$0	$0	$0
RAYMOND C LOPE	DIRECTOR	1.00	Director	$0	$0	$0
ADNAN R MUNKARAH MD	DIRECTOR	1.00	Director	$0	$69,819	$3,443,767
MEERAH RAJAVEL	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT G RINEY	DIRECTOR	1.00	Director	$0	$61,705	$7,081,174
FELIX M VALBUENA MD	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET ANDERSON	DIRECTOR/PRESIDENT (START 11/2024)	59.00	Officer Director	$814,173	$38,197	$852,370
CHARLES R BROWNING	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET KENNEDY CPA	DIRECTOR	1.00	Director	$0	$0	$0
GWEN M MACKENZIE RN MN MHSA	DIRECTOR	1.00	Director	$0	$0	$0
ARCHANA RAJENDRA JD	ASSISTANT SECRETARY	55.00	Officer	$226,317	$11,395	$423,747
MARJORIE A STATEN JD	SECRETARY (THRU 10/2024)	2.00	Officer	$0	$15,932	$262,958
ROBIN S DAMSCHRODER	TREASURER	2.00	Officer	$0	$64,536	$3,410,190
STEVEN B BENDER ESQ	SECRETARY (START 10/2024)	2.00	Officer	$0	$5,629	$325,354
K MICHAEL TREASH	SVP & COO	55.00	Key Emp	$798,631	$26,813	$825,444
CHARLES BLOOM DO	CMO	55.00	Key Emp	$716,089	$113,612	$829,701
MERRILL HAUSENFLUCK	CFO/ASST. TREASURER	55.00	Key Emp	$664,026	$97,688	$761,714
CHRISTINE HARDER	SR VP - NETWORK MGMT	55.00	Key Emp	$414,437	$71,967	$486,404
IRENA ANDREEVSKA	VP- CHIEF ACTUARY&UNDERWRITING	60.00	Highest	$477,226	$28,447	$505,673
MARC VANDERBURG	VP- ACCT RETENTION & SALES	60.00	Highest	$423,636	$27,364	$451,000
YVONNE T SESI	MEDICAL DIRECTOR-HCM	60.00	Highest	$407,580	$6,245	$413,825
ANNETTE M MARCATH	VP & CIO (THRU 4/2024)	55.00	Highest	$421,285	$19,887	$441,172
FRANK A BORSCHKE	MEDICAL DIRECTOR-HCM	60.00	Highest	$407,599	$41,087	$448,686
J DOUGLAS CLARK	FORMER TREASURER/INT. CFO	0.00		$0	$64,382	$926,883

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	$1,636,128,583	$1,609,912,895	$703,335,429	$26,215,688
2023	$1,621,970,158	$1,622,285,296	$668,623,512	$-315,138
2022	$1,566,077,953	$1,509,906,316	$614,290,528	$56,171,637
2021	$1,512,844,679	$1,645,581,353	$635,656,895	$-132,736,674
2020	$1,523,591,589	$1,464,356,994	$726,435,984	$59,234,595
2019	$1,510,727,877	$1,493,376,572	$611,708,865	$17,351,305
2018	$1,473,964,679	$1,483,423,250	$614,028,005	$-9,458,571

HEALTH ALLIANCE PLAN OF MICHIGAN