Faith Hospice (EIN 383062893) - 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

1992

Legal Domicile

Principal Officer

Troy Vugteveen

Phone

6162355015

Tax Period

2024-01-01 to 2024-12-31

Faith Hospice, founded in 1992, is a mid-sized nonprofit in the Health Care sector that reported $29.0M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $26.6M left a modest 8% surplus.

Mission

To provide hospice services, palliative care and support bereavement support services through Western Michigan, both in the community as well as within its 20 bed residential facility.

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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 $1,190,653

Program Service Revenue $26,993,928

Investment Income $658,774

Other Revenue $148,921

TOTAL REVENUE $28,992,276

Expense Breakdown

Grants Paid $0

Salaries & Benefits $14,031,398

Fundraising Expenses $0

Program Expenses $23,762,510

Other Expenses $12,574,791

TOTAL EXPENSES $26,606,189

Year-over-Year Comparison

	2024	2023	Change
Revenue	$28,992,276	$26,825,360	+0.1%
Expenses	$26,606,189	$24,663,767	+0.1%
Net Income	$2,386,087	$2,161,593	+0.1%

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

307

Volunteers

150

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

$546,298

Total Directors

$417,475

Key Employees

$121,975

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Troy Vugteveen	President/CEO, Director	0	Director	$0	$0	$417,475
Michael Dozeman	Physician	50	Highest	$294,105	$0	$294,105
David Tiesenga	Chief Strategy Officer	0	Officer	$0	$31,282	$292,150
Therese Rouse	Physician	50	Highest	$280,470	$0	$280,470
Adam Kinder	Chief Financial Officer	0	Officer	$0	$0	$254,148
Erin Young	Physician	50	Highest	$213,801	$0	$213,801
Donna Boyer	RN, Case Manager	50	Highest	$173,165	$7,174	$180,339
Andrea Lim	RN, Case Manager	50	Highest	$138,604	$0	$138,604
Kimberly Holton	Executive Director	50	Key Emp	$121,656	$319	$121,975
Paul Farr	Director	0	Director	$0	$0	$0
Mark Johnson	Director	0	Director	$0	$0	$0
David Knibbe	Director	0	Director	$0	$0	$0
Gary Malburg	Treasurer, Director	0	Officer Director	$0	$0	$0
Jean Nagelkerk	Director	0	Director	$0	$0	$0
Nelson Sanchez	Vice Chair, Secretary, Director	0	Officer Director	$0	$0	$0
Gilbert Segovia	Director	0	Director	$0	$0	$0
David Smith	Director	0	Director	$0	$0	$0
Nick Thole	Director	0	Director	$0	$0	$0
Mary Ursul	Chairperson, Director	0	Officer Director	$0	$0	$0
Susan Vogel-Vanderson	Director	0	Director	$0	$0	$0
Sam Watson	Director	0	Director	$0	$0	$0
Carlos Hidalgo	Director	0	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	No data	No data	No data	No data
2024	$28,992,276	$26,606,189	$29,263,550	$2,386,087
2023	$26,825,360	$24,663,767	$26,391,050	$2,161,593
2022	$26,310,806	$24,574,851	$23,779,047	$1,735,955
2021	$26,751,222	$22,680,348	$22,316,906	$4,070,874
2020	$24,960,970	$21,830,377	$19,085,764	$3,130,593
2019	$24,202,855	$21,001,654	$16,329,744	$3,201,201

Faith Hospice