Health Net of West Michigan (EIN 383609504) - 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

2001

Legal Domicile

Principal Officer

Maureen Kirkwood

Phone

6167268204

Tax Period

2023-10-01 to 2024-09-30

Health Net of West Michigan, founded in 2001, is a community nonprofit in the Health Care sector that reported $4.9M in total revenue in fiscal year 2023. Revenue surged 39% from the prior year, signaling strong growth momentum. Expenses of $4.3M left a modest 12% surplus.

Mission

To improve the health of children and adults, particularly vulnerable populations, through education and connections to health care and support services.

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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 $3,687,699

Program Service Revenue $1,141,333

Investment Income $3,067

Other Revenue $85,895

TOTAL REVENUE $4,917,994

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,305,096

Fundraising Expenses $96,807

Program Expenses $3,208,261

Other Expenses $1,035,576

TOTAL EXPENSES $4,340,672

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,917,994	$3,539,107	+0.4%
Expenses	$4,340,672	$4,092,502	+0.1%
Net Income	$577,322	$-553,395	-2.0%

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

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

$249,177

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Maureen Kirkwood	President/CEO	36.00	Officer	$138,967	$11,172	$150,139
Kristi Kam	Director of Finance and Compliance	36.00	Officer	$83,988	$15,050	$99,038
Christina Pavlak	VP of Training and Development	36.00	Highest	$100,917	$3,082	$103,999
Shannon Wilson	Chair	1.00	Officer Director	$0	$0	$0
Nirali Bora	Vice Chair	1.00	Officer Director	$0	$0	$0
Philip Alt	Treasurer	1.00	Officer Director	$0	$0	$0
Kathy Howard	Secretary	1.00	Officer Director	$0	$0	$0
Jason Reep	Director	1.00	Director	$0	$0	$0
Jennifer Chaffer	Director	1.00	Director	$0	$0	$0
Annemarie Valdez	Director	1.00	Director	$0	$0	$0
Tricia Baird	Director	1.00	Director	$0	$0	$0
Bill Joure	Director	1.00	Director	$0	$0	$0
Latesha Lipscomb	Director	1.00	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
2024	$4,917,994	$4,340,672	$1,512,402	$577,322
2023	$3,539,107	$4,092,502	$1,223,710	$-553,395
2022	$3,431,975	$3,669,160	$1,883,566	$-237,185
2021	$3,407,263	$3,114,103	$1,418,200	$293,160
2020	$2,826,210	$2,683,391	$1,083,928	$142,819
2020	$2,956,540	$2,852,255	$1,045,394	$104,285
2019	$2,485,307	$2,653,531	$823,596	$-168,224
2018	$2,346,794	$2,341,260	$1,890,021	$5,534

Health Net of West Michigan