MICHIGAN HEALTH CORPORATION

EIN: 383261376 501(c)(3) Health Care

ANN ARBOR, MI

Total Revenue
$7,276,217
Total Expenses
$3,668,876
Total Assets
$64,672,507
Net Assets
$60,428,097
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
MI
Principal Officer
MARSCHALL S RUNGE MD PHD
Phone
7347633282
Tax Period
2024-07-01 to 2025-06-30

MICHIGAN HEALTH CORPORATION, founded in 1995, is a community nonprofit in the Health Care sector that reported $7.3M in total revenue in fiscal year 2024. Revenue surged 112% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.6M, a strong 50% operating margin.

Mission

TO OPERATE AS A VEHICLE THROUGH WHICH THE UNIV. OF MI, A GOVERNMENTAL ENTITY, PARTICIPATES IN THE DEVELOPMENT OF HEALTH CARE RELATED ACTIVITIES TO MAINTAIN AND ENHANCE ITS EDUCATION, RESEARCH AND CLINICAL MISSIONS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $4,015,426
Investment Income $146,043
Other Revenue $3,114,748
TOTAL REVENUE $7,276,217

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,301,988
Other Expenses $3,668,876
TOTAL EXPENSES $3,668,876

Year-over-Year Comparison

2024 2023 Change
Revenue $7,276,217 $3,425,354 +1.1%
Expenses $3,668,876 $2,800,368 +0.3%
Net Income $3,607,341 $624,986 +4.8%
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

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Governance

Voting Members
5
Independent Members
N/A
Employees
N/A
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
2
$4,466,271
Total Directors
5
$10,458,872
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARSCHALL S RUNGE MD PHD CHAIR & CEO 2.00
Officer Director
$0 $811,358 $3,890,176
DAVID C MILLER MD MPH VICE CHAIR & 2.00
Director
$0 $827,613 $3,257,143
GEOFFREY S CHATAS TREASURER 2.00
Director
$0 $630,312 $1,680,623
DEBRA F WEINSTEIN MD FORMER BOARD N/A
$0 $93,848 $1,350,727
PAUL P LEE BOARD MEMBER 2.00
Director
$0 $60,357 $1,054,835
BRIAN ZINK MD FORMER BOARD N/A
$0 $26,540 $261,660
THOMAS FINHOLT SECRETARY 2.00
Officer Director
$0 $69,549 $576,095
DAVID A SPAHLINGER MD FORMER VICE N/A
$0 $0 $26,266
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 $7,276,217 $3,668,876 $64,672,507 $3,607,341
2024 $3,425,354 $2,800,368 $58,682,782 $624,986
2023 $5,198,379 $2,259,524 $57,168,193 $2,938,855
2022 $6,089,336 $1,922,086 $57,424,910 $4,167,250
2021 $5,932,551 $1,775,613 $59,292,227 $4,156,938
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