MICHIGAN HEALTH CORPORATION

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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

1995

Legal Domicile

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.

Program Service Accomplishments

Program 1

Expenses: $3,301,988 Revenue: $7,276,217

DEVELOPMENT OF HEALTH CARE RELATED ACTIVITIES TO MAINTAIN AND ENHANCE 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%)

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

Governance

Voting Members

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

$4,466,271

Total Directors

$10,458,872

Key Employees

Highest Compensated

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