VETERANS EDUCATION AND RESEARCH AS… - 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

1991

Legal Domicile

Principal Officer

CHRISTINE BASMAJIAN

Phone

7342227125

Tax Period

2025-01-01 to 2025-12-31

VETERANS EDUCATION AND RESEARCH ASSOCIATION OF MICHIGAN, founded in 1991, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2025.

Mission

TO CONDUCT BIOMEDICAL, CLINICAL, HEALTH SERVICES, AND REHABILITATION RESEARCH TO EXPAND KNOWLEDGE AND UNDERSTANDING OF DISEASES. TO PROVIDE CONTINUING EDUCATION FOR VA ANN ARBOR HEALTHCARE SYSTEM STAFF, FOUNDATION STAFF, AND THE MEDICAL COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $1,741,652

VERAM CONDUCTS SCIENTIFIC RESEARCH STUDIES TO EXPAND KNOWLEDGE AND UNDERSTANDING OF DISEASES AND MEDICAL CARE, INCLUDING HEALTH SERVICES RESEARCH, AND CARDIOVASCULAR, PSYCHIATRIC, PULMONARY...

VERAM CONDUCTS SCIENTIFIC RESEARCH STUDIES TO EXPAND KNOWLEDGE AND UNDERSTANDING OF DISEASES AND MEDICAL CARE, INCLUDING HEALTH SERVICES RESEARCH, AND CARDIOVASCULAR, PSYCHIATRIC, PULMONARY, INFECTIOUS, AND KIDNEY DISEASES.

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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 (2025)

Revenue Breakdown

Contributions & Grants $1,025,219

Program Service Revenue $1,102,161

Investment Income $116,775

Other Revenue $5,420

TOTAL REVENUE $2,249,575

Expense Breakdown

Grants Paid $0

Salaries & Benefits $620,183

Fundraising Expenses $0

Program Expenses $1,741,652

Other Expenses $1,694,925

TOTAL EXPENSES $2,315,108

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,249,575	$2,109,048	+0.1%
Expenses	$2,315,108	$2,255,267	+0.0%
Net Income	$-65,533	$-146,219	-0.6%

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

$559,200

Total Directors

$2,148,267

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	$129,791	$537,451
ANDREW G SHUMAN MD	BOARD MEMBER	1.00	Director	$0	$87,891	$446,194
VIKAS KOTAGAL MD	BOARD MEMBER	1.00	Director	$0	$93,967	$386,775
GINNY CREASMAN PHARMD FACHE	BOARD MEMBER	1.00	Director	$0	$95,235	$363,517
SARAH KREIN PHD	PRESIDENT	1.00	Officer Director	$0	$59,779	$228,901
CHRISTINE BASMAJIAN	SECRETARY/TR	1.00	Officer Director	$0	$49,698	$185,429
BIRGIT ROLLER MA	EXECUTIVE DI	40.00	Officer	$144,870	$0	$144,870
TONYA GLAZE	FINANCE MANA	40.00	Highest	$111,401	$0	$111,401
JULIA HOUSTON	CONTRACTS &	40.00	Highest	$110,713	$0	$110,713
JULIE BYNUM MD MPH	BOARD MEMBER	N/A	Director	$0	$0	$0
MICHAEL RANELIA MBA MPH	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
2025	$2,249,575	$2,315,108	$4,352,030	$-65,533
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