ASCENSION MICHIGAN HOME OFFICE fka… - Form 990 Financial Data

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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

1982

Legal Domicile

Phone

3147338000

Tax Period

2024-07-01 to 2025-06-30

ASCENSION MICHIGAN HOME OFFICE fka Borgess Ambulatory Care Corporation, founded in 1982, is a micro nonprofit that reported $322.3M in total revenue in fiscal year 2024.

Mission

ROOTED IN THE LOVING MINISTRY OF JESUS AS HEALER, WE COMMIT OURSELVES TO SERVING ALL PERSONS WITH SPECIAL ATTENTION TO THOSE WHO ARE POOR AND VULNERABLE. OUR CATHOLIC HEALTH MINISTRY IS DEDICATED TO SPIRITUALLY-CENTERED, HOLISTIC CARE WHICH SUSTAINS AND IMPROVES THE HEALTH OF INDIVIDUALS AND COMMUNITIES. WE ARE ADVOCATES FOR A COMPASSIONATE AND JUST SOCIETY THROUGH OUR ACTIONS AND OUR WORDS.

Program Service Accomplishments

Program 1

Expenses: $19,452,284 Revenue: $69,738,379

The filing organization is a part of the Ascension Catholic Health Ministry. Ascension is a faith-based healthcare organization that delivers personalized, compassionate care to all, especially to...

The filing organization is a part of the Ascension Catholic Health Ministry. Ascension is a faith-based healthcare organization that delivers personalized, compassionate care to all, especially to those who need it the most. in fiscal year 2025, ascension michigan HOME OFFICE, Serving as a clinically integrated system of care, provided management services to ascension michigan entities to support their efforts in improving the health and welfare of people in the communities we serve.

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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 $6,099,270

Program Service Revenue $69,714,543

Investment Income $-398,339,550

Other Revenue $220,782

TOTAL REVENUE $-322,304,955

Expense Breakdown

Grants Paid $0

Salaries & Benefits $-4,673,930

Fundraising Expenses $91

Program Expenses $19,452,284

Other Expenses $56,025,642

TOTAL EXPENSES $51,351,712

Year-over-Year Comparison

	2024	2023	Change
Revenue	$-322,304,955	N/A	N/A
Expenses	$51,351,712	N/A	N/A
Net Income	$-373,656,667	$0	N/A

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

312

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

$22,534,418

Total Directors

$21,233,241

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROL L SCHMIDT	MINISTRY MARKET EXECUTIVE/PRESIDENT	0.0	Officer Director	$0	$45,856	$2,826,319
CHRISTINE K MCCOY JD	VICE CHAIR (START 10/2024)	0.0	Officer Director	$0	$385,984	$5,287,112
EDUARDO F CONRADO	CHAIR (START 10/2024)	0.0	Officer Director	$0	$734,713	$10,919,629
JAMES BOLES MD	SECRETARY/TREASURER (END 9/2024)	1.0	Officer Director	$0	$0	$0
LESLIE A MURPHY CPA	CHAIR (END 9/2024)	1.0	Officer Director	$0	$0	$0
RENEE BRANCH CANADY	VICE CHAIR (END 9/2024)	1.0	Officer Director	$0	$0	$0
SAURABH TRIPATHI	TREASURER (START 10/2024)	0.0	Officer Director	$0	$41,575	$929,937
TOM ALOIA	SECRETARY (START 10/2024)	1.0	Officer Director	$0	$0	$0
AVEC O'BRIEN	DIRECTOR (END 9/2024)	1.0	Director	$0	$0	$0
DAVID SAUNDERS	DIRECTOR (END 9/2024)	1.0	Director	$0	$0	$0
JAMES BAILEY BABEL MD	DIRECTOR (END 9/2024)	1.0	Director	$0	$0	$12,056
JEFFERY ZAKS	DIRECTOR (END 9/2024)	1.0	Director	$0	$0	$0
KENNETH STREIBEL	DIRECTOR (END 9/2024)	1.0	Director	$0	$0	$0
PHYLLIS D MEADOWS	DIRECTOR (END 9/2024)	1.0	Director	$0	$0	$0
SCOTT ALAN CIHAK	EX-OFFCIO (START 10/2024)	0.0	Director	$0	$44,178	$1,258,188
SUSAN POZO	DIRECTOR (END 9/2024)	1.0	Director	$0	$0	$0
MICHAEL MCCULLOUGH	CFO, MINISTRY MARKET (END 9/2024)	0.0	Officer	$0	$46,446	$1,146,026
SARAH HERZOG	ASSISTANT SECRETARY (START 10/2024)	0.0	Officer	$0	$39,459	$1,425,395
GUADALUPE CHAVEZ	PHARMACIST	50.0	Highest	$130,845	$25,678	$156,523
KELSEY ERNST	PHARMACIST	50.0	Highest	$131,154	$15,396	$146,550
MARC L CULLEN MD	PHYSICIAN (END 7/2024)	50.0	Highest	$143,532	$49,245	$681,318
NATHAN L KANOUS	PHARMACIST	50.0	Highest	$177,398	$40,065	$217,463
DOUGLAS TODD MYERS	FORMER OFFICER (END 3/2023)	0.0		$0	$0	$383,721
JONATHAN SAMUEL NALLI FACHE	FORMER OFFICER (END 12/2022)	0.0		$0	$6,250	$949,654

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	$-322,304,955	$51,351,712	$52,943,783	$-373,656,667
2020	No data	$786	$330	No data
2019	No data	$961	$22	No data
2018	No data	$-83	$81,892	No data

ASCENSION MICHIGAN HOME OFFICE fka Borgess Ambulatory Care Corporation