VETERANS EDUCATION AND RESEARCH ASSOCIATION OF MICHIGAN (EIN 383060217) - Form 990 Financial Analysis & Trantor Score

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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

1991

Legal Domicile

Principal Officer

CHRISTINE BASMAJIAN

Phone

7342227125

Tax Period

2024-01-01 to 2024-12-31

VETERANS EDUCATION AND RESEARCH ASSOCIATION OF MICHIGAN, founded in 1991, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year.

Mission

VERAM WORKS WITH THE VA ANN ARBOR HEALTHCARE SYSTEM AND ITS SPONSORS TO CONDUCT BIOMEDICAL, CLINICAL, HEALTH SERVICES AND REHABILITATION RESEARCH IN THE AREAS SUCH AS HEALTH SERVICES RESEARCH, CARDIOLOGY, PULMONARY, INFECTIOUS, KIDNEY AND CARDIOVASCULAR DISEASES. EDUCATION FUNDS ARE DIRECTED TOWARD CONTINUING EDUCATION OF VA ANN ARBOR HEALTHCARE SYSTEM STAFF, FOUNDATION STAFF, AND THE MEDICAL COMMUNITY.

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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 $770,907

Program Service Revenue $1,156,423

Investment Income $176,298

Other Revenue $5,420

TOTAL REVENUE $2,109,048

Expense Breakdown

Grants Paid $0

Salaries & Benefits $590,986

Fundraising Expenses $0

Program Expenses $1,708,847

Other Expenses $1,664,281

TOTAL EXPENSES $2,255,267

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,109,048	$2,391,374	-0.1%
Expenses	$2,255,267	$2,321,864	0.0%
Net Income	$-146,219	$69,510	-3.1%

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

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

$552,843

Total Directors

$2,112,605

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD J SCHILDHOUSE MD	BOARD MEMBER	1.00	Director	$0	$127,883	$545,883
ANDREW G SHUMAN MD	BOARD MEMBER	1.00	Director	$0	$80,034	$406,495
VIKAS KOTAGAL MD	BOARD MEMBER	1.00	Director	$0	$110,038	$397,060
GINNY CREASMAN PHARMD FACHE	BOARD MEMBER	1.00	Director	$0	$84,105	$350,244
SARAH KREIN PHD	PRESIDENT	1.00	Officer Director	$0	$58,701	$227,362
CHRISTINE BASMAJIAN	SECRETARY/TR	1.00	Officer Director	$0	$48,150	$185,561
BIRGIT ROLLER MA	EXECUTIVE DI	40.00	Officer	$139,920	$0	$139,920
TONYA GLAZE	FINANCE MANA	40.00	Highest	$107,824	$0	$107,824
JULIA HOUSTON	CONTRACTS &	40.00	Highest	$106,904	$0	$106,904
JULIE BYNUM MD MPH	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL RANELIA MBA MPH	BOARD MEMBER	1.00	Director	$0	$0	$0
SHARON M WATLING PHARMD	BOARD MEMBER	1.00	Director	$0	$0	$0
CATHERINE RADOVICH	BOARD MEMBER	1.00	Director	$0	$0	$0

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	$2,109,048	$2,255,267	$4,752,489	$-146,219
2023	$2,391,374	$2,321,864	$5,360,896	$69,510
2022	$1,915,930	$1,754,752	$5,615,285	$161,178
2021	$2,127,500	$1,739,882	$5,729,968	$387,618
2020	$990,895	$1,045,847	$4,509,558	$-54,952
2019	$996,051	$1,235,702	$4,075,620	$-239,651
2018	$1,816,748	$1,846,900	$4,100,752	$-30,152

VETERANS EDUCATION AND RESEARCH ASSOCIATION OF MICHIGAN