Hospice of Michigan Inc

EIN: 382255529 501(c)(3) Human Services

Ann Arbor, MI

Total Revenue
$72,152,188
Total Expenses
$71,000,001
Total Assets
$57,066,301
Net Assets
$39,244,225
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1978
Legal Domicile
MI
Phone
3135785000
Tax Period
2023-01-01 to 2023-12-31

Hospice of Michigan Inc, founded in 1978, is a mid-sized nonprofit in the Human Services sector that reported $72.2M in total revenue in fiscal year 2023.

Mission

HOSPICE OF MICHIGAN, INC. MEETS OUR PATIENTS AND FAMILIES WHERE THEY ARE WITH URGENCY, PURPOSE, AND COMPASSIONATE ACCOUNTABILITY SURROUNDING THEM WITH DECADES OF DEDICATED HOSPICE EXPERTISE. OUR STRENGTH COMES FROM WORKING TOGETHER PROVIDING MORE LAYERS OF SUPPORT FOR ANYONE WITH A TERMINAL ILLNESS WHO SEEKS AND NEEDS OUR CARE REGARDLESS OF AGE, DIAGNOSIS OR ABILITY TO PAY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,234,346
Program Service Revenue $68,105,837
Investment Income $269,047
Other Revenue $-457,042
TOTAL REVENUE $72,152,188

Expense Breakdown

Grants Paid $0
Salaries & Benefits $39,996,522
Fundraising Expenses $2,036,772
Program Expenses $53,737,929
Other Expenses $31,003,479
TOTAL EXPENSES $71,000,001

Year-over-Year Comparison

2023 2022 Change
Revenue $72,152,188 $70,733,542 +0.0%
Expenses $71,000,001 $72,142,542 0.0%
Net Income $1,152,187 $-1,409,000 -1.8%
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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
16
Independent Members
14
Employees
779
Volunteers
421

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
$2,793,183
Total Directors
16
$951,324
Key Employees
5
$1,152,044
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Secretary/Treasurer/Vice Chair 1.0
Officer Director
$0 $0 $0
N/A President & Chief Executive Officer 37.0
Officer Director
$923,495 $27,829 $951,324
N/A Chair 1.0
Officer Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A VP/Chief Operating Officer 39.0
Officer
$243,335 $16,824 $260,159
N/A Executive VP/Chief Financial Officer 37.0
Officer
$507,845 $20,514 $528,359
N/A Executive VP/Chief Development Officer 39.0
Officer
$470,873 $25,673 $496,546
N/A Executive VP/Chief Operating Officer 39.0
Officer
$524,126 $32,669 $556,795
N/A Chief Nursing Officer 39.0
Key Emp
$188,328 $17,607 $205,935
N/A VP/Chief Information Officer 39.0
Key Emp
$248,601 $17,617 $266,218
N/A AVP Finance 39.0
Key Emp
$204,745 $15,117 $219,862
N/A AVP Marketing/Client Svcs 39.0
Key Emp
$198,154 $11,693 $209,847
N/A Medical Director 39.0
Key Emp
$223,687 $26,495 $250,182
N/A Hospice Physician 40.0
Highest
$227,476 $30,788 $258,264
N/A RN Contact Center 40.0
Highest
$153,744 $7,250 $160,994
N/A Medical Director 40.0
Highest
$197,482 $15,842 $213,324
N/A Registered Nurse Peds 40.0
Highest
$152,053 $6,117 $158,170
N/A Medical Director 40.0
Highest
$187,300 $14,456 $201,756
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 $72,152,188 $71,000,001 $57,066,301 $1,152,187
2022 $70,733,542 $72,142,542 $50,694,249 $-1,409,000
2021 $70,125,455 $67,133,389 $47,973,819 $2,992,066
2020 $66,277,644 $64,175,966 $40,422,619 $2,101,678
2019 $62,535,234 $62,771,814 $34,368,295 $-236,580
2018 $59,197,603 $57,814,374 $31,730,936 $1,383,229
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