MERCY HEALTH PARTNERS

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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

1984

Legal Domicile

Principal Officer

GARY ALLORE

Phone

2316722000

Tax Period

2023-07-01 to 2024-06-30

MERCY HEALTH PARTNERS, founded in 1984, is a major nonprofit that reported $858.5M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

WE, MERCY HEALTH AND TRINITY HEALTH, SERVE TOGETHER IN THE SPIRIT OF THE GOSPEL AS A COMPASSIONATE AND TRANSFORMING HEALING PRESENCE WITHIN OUR COMMUNITIES.MERCY HEALTH PARTNERS IS A MEMBER OF MERCY HEALTH AND TRINITY HEALTH.

Program Service Accomplishments

Program 1

Expenses: $798,090,886 Revenue: $843,380,717

MERCY HEALTH PARTNERS IS A TEACHING HOSPITAL WITH MULTIPLE LOCATIONS IN THE MUSKEGON, MICHIGAN AREA, INCLUDING THREE HOSPITALS WITH A TOTAL OF 382 LICENSED BEDS. THE HOSPITALS PROVIDE OVER 93,000...

MERCY HEALTH PARTNERS IS A TEACHING HOSPITAL WITH MULTIPLE LOCATIONS IN THE MUSKEGON, MICHIGAN AREA, INCLUDING THREE HOSPITALS WITH A TOTAL OF 382 LICENSED BEDS. THE HOSPITALS PROVIDE OVER 93,000 PATIENT SERVICE DAYS, INCLUDING ACUTE CARE, PSYCHIATRIC, AND REHABILITATION SERVICES, AND OVER 81,000 EMERGENCY ROOM VISITS ANNUALLY. THE SYSTEM IS THE LARGEST EMPLOYER IN MUSKEGON COUNTY, WITH A TEAM OF MORE THAN 3,500 EMPLOYEES, INCLUDING 375 PHYSICIANS, COMMITTED TO THE QUALITY CARE OF PATIENTS AND THEIR FAMILIES.THE TRINITY HEALTH MUSKEGON HOSPITAL IS AN ACUTE CARE FACILITY, AND THE TRINITY HEALTH BEHAVIORAL HEALTH HOSPITAL IS A BEHAVIORAL HEALTH FACILITY; BOTH FACILITIES ARE LOCATED IN MUSKEGON COUNTY AND SERVE MUSKEGON, OCEANA AND NEWAYGO COUNTIES. THE TRINITY HEALTH SHELBY HOSPITAL IS A CRITICAL CARE FACILITY SERVING OCEANA AND NEWAYGO COUNTIES. HEALTHGRADES HAS RANKED THE SYSTEM IN THE TOP 5 PERCENT IN THE NATION FOR COMMITMENT TO CLINICAL QUALITY AND SUPERIOR PATIENT OUTCOMES.PLEASE SEE SCHEDULE H AND VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION ABOUT OUR SERVICES, RECOGNITIONS AND AWARDS:WWW.TRINITYHEALTHMICHIGAN.ORG

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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 (2023)

Revenue Breakdown

Contributions & Grants $4,382,774

Program Service Revenue $823,674,783

Investment Income $6,208,358

Other Revenue $24,219,388

TOTAL REVENUE $858,485,303

Expense Breakdown

Grants Paid $1,810,038

Salaries & Benefits $426,246,829

Fundraising Expenses $0

Program Expenses $798,090,886

Other Expenses $427,603,809

TOTAL EXPENSES $855,660,676

Year-over-Year Comparison

	2023	2022	Change
Revenue	$858,485,303	$783,856,592	+0.1%
Expenses	$855,660,676	$804,473,477	+0.1%
Net Income	$2,824,627	$-20,616,885	-1.1%

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

4683

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

$4,419,268

Total Directors

$3,603,047

Key Employees

$1,517,286

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT CASALOU	DIRECTOR; PRESIDENT & CEO, MI REGION	10.00	Officer Director	$0	$62,350	$2,006,565
EDMUND HODGE	DIRECTOR; TRINITY HEALTH EVP, CHRO	2.00	Director	$0	$58,201	$1,596,482
WAYMAN BRITT	DIRECTOR; VICE CHAIR	2.00	Officer Director	$0	$0	$0
DONNA DOLEMAN DICKERSON	DIRECTOR; CHAIR	2.00	Officer Director	$0	$0	$0
ERIC FERGUSON MD	DIRECTOR	2.00	Director	$0	$0	$0
JAN GARFINKLE	DIRECTOR THROUGH 12/23	2.00	Director	$0	$0	$0
JOSE INFANTE	DIRECTOR	2.00	Director	$0	$0	$0
MARY FRANCIS LEWANDOWSKI CSSF	DIRECTOR THROUGH 9/23	2.00	Director	$0	$0	$0
SPENCER MAIDLOW	DIRECTOR	2.00	Director	$0	$0	$0
SUZANNE MELLON PHD	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM MORRIS	DIRECTOR	2.00	Director	$0	$0	$0
JEAN NAGELKERK PHD	DIRECTOR	2.00	Director	$0	$0	$0
DALE NESBARY PHD	DIRECTOR THROUGH 12/23	2.00	Director	$0	$0	$0
LINDA WERTHMAN RSM	DIRECTOR	2.00	Director	$0	$0	$0
GARY ALLORE	PRESIDENT, TRINITY HEALTH MUSKEGON	54.00	Officer	$0	$52,137	$774,411
MANDI MURRAY	SECRETARY;VP MANAGING CNSL, MICH REG	2.00	Officer	$0	$125,041	$636,095
MICHAEL GUSHO	TREASURER; CFO, MICHIGAN REGION	6.00	Officer	$0	$65,232	$1,002,197
JOHN FOSS	SVP OPER, TH SHELBY & GRAND HAVEN	48.00	Key Emp	$288,193	$50,240	$338,433
JUSTIN GRILL DO	CHIEF MEDICAL OFFICER	40.00	Key Emp	$0	$52,046	$592,963
DANIEL GREEN	VP FINANCE, WEST MICHIGAN	20.00	Key Emp	$0	$64,621	$585,890
RICK EDGAR MD	NEUROSURGEON	50.00	Highest	$0	$48,571	$1,788,979
DAVID BONNEMA MD	CARDIOLOGIST	50.00	Highest	$0	$47,534	$1,173,495
NOAH THORMEIER DO	CARDIOLOGIST	50.00	Highest	$0	$49,095	$1,114,958
DANIEL WEST MD	CARDIOLOGIST	50.00	Highest	$0	$52,877	$1,057,285
JOHN MEEK DO	CARDIOLOGIST	50.00	Highest	$0	$42,735	$1,008,112
KRISTI NAGENGAST	FORMER KEY EMPLOYEE	49.00		$0	$63,190	$377,787
LISA ROSE	FORMER KEY EMPLOYEE	0.00		$262,735	$134,892	$397,627

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	No data	No data	No data	No data
2024	$858,485,303	$855,660,676	$919,300,944	$2,824,627
2023	$783,856,592	$804,473,477	$854,877,086	$-20,616,885
2022	$835,787,619	$810,810,714	$875,892,919	$24,976,905
2021	$842,015,030	$770,155,494	$959,874,237	$71,859,536
2020	$692,908,897	$723,213,178	$816,487,004	$-30,304,281
2019	$710,260,979	$681,225,098	$692,484,116	$29,035,881
2018	$658,108,771	$622,368,373	$531,616,895	$35,740,398