Ascension Medical Group Michigan

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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

2019

Legal Domicile

Phone

3147338000

Tax Period

2023-07-01 to 2024-06-30

Ascension Medical Group Michigan, founded in 2019, is a mid-sized nonprofit in the Health Care sector that reported $74.8M in total revenue in fiscal year 2023. Expenses of $117.5M exceeded revenue, resulting in a 57% operating deficit.

Mission

ROOTED IN THE LOVING MINISTRY OF JESUS AS HEALER, WE COMMIT OURSELVES TO SERVING ALL PERSONS WITH SPECIAL ATTENTION TO THOSE WHO ARE POOR AND VULNERABLE. OUR CATHOLIC HEALTH MINISTRY IS DEDICATED TO SPIRITUALLY-CENTERED, HOLISTIC CARE WHICH SUSTAINS AND IMPROVES THE HEALTH OF INDIVIDUALS AND COMMUNITIES. WE ARE ADVOCATES FOR A COMPASSIONATE AND JUST SOCIETY THROUGH OUR ACTIONS AND OUR WORDS.

Program Service Accomplishments

Program 1

Expenses: $64,393,755 Revenue: $72,300,184

The filing organization is a part of the Ascension Catholic Health Ministry. Ascension is a faith-based healthcare organization that delivers personalized, compassionate care to all, especially to...

The filing organization is a part of the Ascension Catholic Health Ministry. Ascension is a faith-based healthcare organization that delivers personalized, compassionate care to all, especially to those who need it the most. IN FURTHERANCE OF ITS MISSION AND IN AN EFFORT TO REDUCE THE GOVERNMENT'S FINANCIAL BURDEN, ASCENSION MEDICAL GROUP MICHIGAN PROVIDES ESSENTIAL HEALTH CARE SERVICES, SUCH AS PRIMARY CARE, SPECIALTY CARE AND DIAGNOSTIC IMAGING FACILITIES THAT SERVE LOW-INCOME PATIENTS AS WELL AS COMMUNITY SERVICES. DURING FY 2024, ASCENSION MEDICAL GROUP MICHIGAN HAD A TOTAL OF 263,449 VISITS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,786,669

Program Service Revenue $72,300,124

Investment Income $269,305

Other Revenue $448,883

TOTAL REVENUE $74,804,981

Expense Breakdown

Grants Paid $795

Salaries & Benefits $57,291,860

Fundraising Expenses $0

Program Expenses $64,393,755

Other Expenses $60,195,831

TOTAL EXPENSES $117,488,486

Year-over-Year Comparison

	2023	2022	Change
Revenue	$74,804,981	$73,425,585	+0.0%
Expenses	$117,488,486	$134,979,282	-0.1%
Net Income	$-42,683,505	$-61,553,697	-0.3%

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

1940

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

$4,853,714

Total Directors

$8,358,776

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROL L SCHMIDT	MINISTRY MARKET EXECUTIVE/PRESIDENT	0.0	Officer Director	$0	$93,945	$2,555,848
MICHAEL WIEMANN MD	EX-OFFICIO/PRESIDENT	0.0	Officer Director	$0	$48,864	$823,400
ROBERT PETER CAMARA DO	CHAIR	0.0	Officer Director	$0	$49,748	$518,121
DONALD R ELLIS III MD	DIRECTOR	0.0	Director	$0	$53,546	$456,567
JAMILA N TAYLOR MD	DIRECTOR	0.0	Director	$0	$25,496	$281,414
KEVIN YOUNGS MD	DIRECTOR	0.0	Director	$0	$55,500	$493,598
LEONARD JOHNSON MD	DIRECTOR	0.0	Director	$0	$27,063	$402,162
MARCUS EBER DEGRAW MD	DIRECTOR	0.0	Director	$0	$55,742	$572,186
SRIDHAR RAO MD	DIRECTOR (END 12/2023)	0.0	Director	$0	$51,873	$575,313
STUART R VERSEMAN MD	DIRECTOR	0.0	Director	$0	$39,836	$702,435
THOMAS KLEIN	EX-OFFICIO/COO	0.0	Director	$0	$34,147	$464,373
WILLIAM EDGAR MD	DIRECTOR	0.0	Director	$0	$39,356	$513,359
MICHAEL MCCULLOUGH	CFO, MINISTRY MARKET	0.0	Officer	$0	$41,393	$956,345
ANDREY A VOLKOV MD	PHYSICIAN	50.0	Highest	$1,350,209	$58,422	$1,408,631
JEFFREY H DECLAIRE MD	PHYSICIAN	50.0	Highest	$1,645,250	$55,850	$1,701,100
KENNETH P DREA MD	PHYSICIAN	50.0	Highest	$1,529,349	$41,919	$1,571,268
NATHAN EVIN MARSHALL MD	PHYSICIAN	50.0	Highest	$1,323,430	$66,203	$1,389,633
NICHOLAS BLAIR FRISCH MD	PHYSICIAN	50.0	Highest	$1,664,990	$62,190	$1,727,180
DOUGLAS TODD MYERS	FORMER OFFICER (END 3/2023)	0.0		$0	$12,783	$648,758
JONATHAN SAMUEL NALLI FACHE	FORMER OFFICER (END 12/2022)	0.0		$0	$28,253	$2,344,273
KENNETH BERKOVITZ MD	FORMER OFFICER (END 6/2020)	0.0		$0	$6,700	$900,260
ROBERT GUHA	FORMER OFFICER (END 6/2022)	0.0		$0	$4,671	$287,804

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	$74,804,981	$117,488,486	$212,444,905	$-42,683,505
2023	$73,425,585	$134,979,282	$119,378,989	$-61,553,697
2022	$79,443,122	$124,843,831	$67,382,866	$-45,400,709
2021	$75,124,562	$120,309,098	$49,266,771	$-45,184,536
2020	$60,682,760	$122,572,266	$23,244,745	$-61,889,506
2019	$64,316,084	$102,267,403	$21,902,279	$-37,951,319
2018	$50,044,467	$78,674,067	$22,105,782	$-28,629,600