Blue Cross Blue Shield of Michigan Foundation

EIN: 382338506 501(c)(3) Health Care

DETROIT, MI

Total Revenue
$1,117,173
Total Expenses
$3,245,936
Total Assets
$55,042,591
Net Assets
$53,251,218
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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
1980
Legal Domicile
MI
Phone
3132256688
Tax Period
2023-01-01 to 2023-12-31

Blue Cross Blue Shield of Michigan Foundation, founded in 1980, is a community nonprofit in the Health Care sector that reported $1.1M in total revenue in fiscal year 2023. Expenses of $3.2M exceeded revenue, resulting in a 191% operating deficit.

Mission

TO SUPPORT HEALTHCARE AND INNOVATIVE PROGRAMS DESIGNED TO IMPROVE THE HEALTH OF MICHIGAN RESIDENTS.

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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 $17,808
Program Service Revenue $0
Investment Income $1,099,365
Other Revenue $0
TOTAL REVENUE $1,117,173

Expense Breakdown

Grants Paid $1,525,128
Salaries & Benefits $1,436,042
Fundraising Expenses $0
Program Expenses $2,489,300
Other Expenses $284,766
TOTAL EXPENSES $3,245,936

Year-over-Year Comparison

2023 2022 Change
Revenue $1,117,173 $1,121,426 0.0%
Expenses $3,245,936 $2,952,454 +0.1%
Net Income $-2,128,763 $-1,831,028 +0.2%
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

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Governance

Voting Members
8
Independent Members
6
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
6
$6,561,730
Total Directors
9
$7,847,025
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A TREASURER & DIRECTOR 1.0
Officer Director
$35,072 $0 $35,072
N/A DIRECTOR & VICE-CHAIR 1.0
Officer Director
$25,072 $0 $25,072
N/A PRESIDENT & EXEC VP 1.0
Officer Director
$0 $641,727 $5,074,955
N/A CHAIR & DIRECTOR 1.0
Officer Director
$45,000 $0 $45,000
N/A DIRECTOR 1.0
Director
$30,000 $0 $30,000
N/A DIRECTOR (Thru 4/23) & MEDICAL DIRECTOR 1.0
Director
$0 $61,599 $460,764
N/A DIRECTOR 1.0
Director
$25,072 $0 $25,072
N/A DIRECTOR & SVP 1.0
Director
$0 $20,634 $2,126,018
N/A DIRECTOR 1.0
Director
$25,072 $0 $25,072
N/A EXECUTIVE DIRECTOR & CEO 60.0
Officer
$0 $170,708 $1,007,427
N/A TREASURER 5.0
Officer
$0 $53,983 $374,204
N/A SVP & CHIEF MEDICAL OFFICER 0.0
$0 $0 $520,455
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 $1,117,173 $3,245,936 $55,042,591 $-2,128,763
2022 $1,121,426 $2,952,454 $51,639,807 $-1,831,028
2021 $15,786,685 $3,921,974 $61,896,872 $11,864,711
2020 $381,617 $3,208,277 $56,541,001 $-2,826,660
2019 $439,839 $3,143,833 $59,888,906 $-2,703,994
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