Packard Health Inc

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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

1973

Legal Domicile

Principal Officer

Raymond Rion

Phone

7349711073

Tax Period

2024-09-01 to 2025-08-31

Packard Health Inc, founded in 1973, is a mid-sized nonprofit in the Health Care sector that reported $19.9M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $19.3M left a modest 3% surplus.

Mission

To provide the best possible care to our patients and community, including people whose economic, social or cultural conditions might otherwise prevent them from accessing health care.

Program Service Accomplishments

Program 1

Expenses: $14,967,172 Revenue: $16,188,123

Primary Health Services, including mental health care, pharmaceutical services, and health promotion to patients in the Washtenaw County area.

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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 $3,592,738

Program Service Revenue $16,188,123

Investment Income $126,469

Other Revenue $2,842

TOTAL REVENUE $19,910,172

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,110,445

Fundraising Expenses $326,505

Program Expenses $14,967,172

Other Expenses $8,159,721

TOTAL EXPENSES $19,270,166

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,910,172	$15,266,634	+0.3%
Expenses	$19,270,166	$15,943,999	+0.2%
Net Income	$640,006	$-677,365	-1.9%

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

150

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

$1,007,680

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Margaret Calarco	Board Chair	1.00	Officer Director	$0	$0	$0
Molly Welch-Marahar	Vice Chair	1.00	Officer Director	$0	$0	$0
Tomasine Marx	Treasurer	1.00	Officer Director	$0	$0	$0
Nora Maloy DrPH	Secretary	1.00	Officer Director	$0	$0	$0
Gary Boren	Trustee	1.00	Director	$0	$0	$0
Rana Smith	Trustee	1.00	Director	$0	$0	$0
Sharon Moore	Trustee	1.00	Director	$0	$0	$0
Edd Snyder	Trustee	1.00	Director	$0	$0	$0
Paula Lantz	Trustee	1.00	Director	$0	$0	$0
Bryan Wagoner	Trustee	1.00	Director	$0	$0	$0
Ruth Cassidy	Trustee	1.00	Director	$0	$0	$0
Juan Marquez MPH MD	Trustee	1.00	Director	$0	$0	$0
Joseph Kaplan	Trustee	1.00	Director	$0	$0	$0
Phillip Rodgers MD	Trustee	1.00	Director	$0	$0	$0
Paul Harkaway MD	Trustee	1.00	Director	$0	$0	$0
Brandie Tyuse	Trustee	1.00	Director	$0	$0	$0
Raymond Rion	Executive Director	40.00	Officer	$292,131	$19,846	$311,977
Dr Ankoor Soni	Medical Director	40.00	Officer	$213,222	$29,315	$242,537
David Hoffman	CFO	40.00	Officer	$145,365	$7,281	$152,646
Neil B Kirst	CMO	40.00	Officer	$268,969	$31,551	$300,520
Ravi Vadlamudi	Physician	40.00	Highest	$232,588	$30,817	$263,405
Lindsey Kotagal	Physician	40.00	Highest	$183,705	$9,249	$192,954
Ronald Romero	Physician	40.00	Highest	$170,967	$28,945	$199,912
Joseph Thompson	Physician	40.00	Highest	$218,718	$17,744	$236,462
Holly Ross	Compliance Officer	40.00	Highest	$164,678	$30,079	$194,757

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	$19,910,172	$19,270,166	$18,827,742	$640,006
2024	$15,266,634	$15,943,999	$18,061,803	$-677,365
2023	$12,601,647	$12,570,870	$18,440,917	$30,777
2022	$12,184,701	$11,334,632	$17,769,426	$850,069
2021	$14,016,924	$9,666,803	$17,218,631	$4,350,121
2020	$14,892,311	$8,903,861	$12,624,380	$5,988,450
2019	$9,043,917	$7,814,652	$4,564,541	$1,229,265
2018	$7,349,254	$6,825,944	$3,299,535	$523,310