MICHIGAN NURSES FOUNDATION

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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

2000

Legal Domicile

Principal Officer

JESSICA LANNON

Phone

5178535503

Tax Period

2024-01-01 to 2024-12-31

MICHIGAN NURSES FOUNDATION, founded in 2000, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.1M in total revenue in fiscal year 2024. Revenue surged 6475% from the prior year, signaling strong growth momentum.

Mission

THE MISSION OF THE MICHIGAN NURSES FOUNDATION IS TO PROMOTE AN EDUCATED AND PROFESSIONAL NURSE WORKFORCE THROUGH THE ADVANCEMENT OF NURSING RESEARCH, SUPPORT FOR NURSING EDUCATION AND ASSISTANCE FOR THE RECOVERING MEDICAL PROFESSIONAL.

Program Service Accomplishments

Program 1

Expenses: $2,019,379 Revenue: $3,843

SCHOLARSHIPS PROVIDED TO NURSING STUDENTS (LPN - DNP), RECOVERY TESTING SERVICE GRANTS PROVIDED TO NURSES AND HEATLHCARE PROFESSIONALS, RESEARCH GRANTS PROVIDED, AND CONTINUING EDUCATION...

SCHOLARSHIPS PROVIDED TO NURSING STUDENTS (LPN - DNP), RECOVERY TESTING SERVICE GRANTS PROVIDED TO NURSES AND HEATLHCARE PROFESSIONALS, RESEARCH GRANTS PROVIDED, AND CONTINUING EDUCATION REIMBURSEMENT.

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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 $2,046,670

Program Service Revenue $0

Investment Income $8,652

Other Revenue $6,382

TOTAL REVENUE $2,061,704

Expense Breakdown

Grants Paid $1,972,395

Salaries & Benefits $64,565

Fundraising Expenses $0

Program Expenses $2,019,379

Other Expenses $13,451

TOTAL EXPENSES $2,050,411

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,061,704	$31,357	+64.7%
Expenses	$2,050,411	$9,555	+213.6%
Net Income	$11,293	$21,802	-0.5%

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

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NIKKI SAMARDICH	DIRECTOR	0.40	Director	$0	$0	$0
RENEE MIELKE	DIRECTOR	0.40	Director	$0	$0	$0
EDWARD MCTAGGART	DIRECTOR	0.40	Director	$0	$0	$0
STACEY LASSILA	DIRECTOR	0.40	Director	$0	$0	$0
PATRICIA KAMPMANN-BUSH	DIRECTOR	0.40	Director	$0	$0	$0
KATHY HILLMAN	DIRECTOR	0.40	Director	$0	$0	$0
JOHN GODDEERIS	DIRECTOR	0.40	Director	$0	$0	$0
GENEVIVE BANCROFT	DIRECTOR	0.40	Director	$0	$0	$0
CAROLYN TARATUTA	DIRECTOR	0.40	Director	$0	$0	$0
CAROLYN CLEMONS	DIRECTOR	0.40	Director	$0	$0	$0
RENEE CURTIS	SECRETARY	0.70	Officer Director	$0	$0	$0
KATHLEEN WEBER-SLOCUM	TREASURER	0.70	Officer Director	$0	$0	$0
JON HOADLEY	VICE PRESIDENT	0.70	Officer Director	$0	$0	$0
BECKY BALDWIN	PRESIDENT	0.70	Officer Director	$0	$0	$0
JESSICA LANNON	ASSOCIATE EXECUTIVE DIRECTOR	35.00	Officer	$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
2024	$2,061,704	$2,050,411	$308,455	$11,293