Michigan Carpenters Health Care Fund (EIN 386058383) - 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

1952

Legal Domicile

Tax Period

2023-09-01 to 2024-08-31

Michigan Carpenters Health Care Fund, founded in 1952, is a mid-sized nonprofit that reported $28.0M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $24.8M left a modest 11% surplus.

Mission

Provide health and welfare benefits to eligible plan participants.

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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 $0

Program Service Revenue $27,713,534

Investment Income $327,019

Other Revenue $6,713

TOTAL REVENUE $28,047,266

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $24,841,775

Other Expenses $1,612,326

TOTAL EXPENSES $24,841,775

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,047,266	$25,522,808	+0.1%
Expenses	$24,841,775	$22,627,608	+0.1%
Net Income	$3,205,491	$2,895,200	+0.1%

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

$953,927

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM LUTZ	CHAIRMAN	1.00	Director	$0	$0	$241,870
MIKE BARNWELL	TRUSTEE	1.00	Director	$0	$0	$185,362
BRIAN KERRIGAN	TRUSTEE	1.00	Director	$0	$38,195	$141,217
VINCE DAWE	TRUSTEE	1.00	Director	$0	$38,195	$134,779
CHAD MILLER	TRUSTEE	1.00	Director	$0	$36,195	$126,340
JASON REED	TRUSTEE	1.00	Director	$0	$38,507	$124,359
JAMES MALENICH	TRUSTEE	1.00	Director	$0	$0	$0
NICK ROWLEY	TRUSTEE	1.00	Director	$0	$0	$0
BOB SPENCE	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM HENDRICK	TRUSTEE	1.00	Director	$0	$0	$0
DAMIAN HILL	TRUSTEE	1.00	Director	$0	$0	$0
JOHN KERSAAN	TRUSTEE	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	$28,047,266	$24,841,775	$27,673,539	$3,205,491
2023	$25,522,808	$22,627,608	$24,017,680	$2,895,200
2022	$25,381,512	$22,517,442	$20,716,149	$2,864,070
2021	$25,045,179	$26,458,893	$19,772,580	$-1,413,714
2020	$25,554,397	$21,195,888	$18,927,746	$4,358,509
2019	$26,538,970	$25,360,668	$16,743,916	$1,178,302
2018	$25,491,130	$24,672,047	$15,135,965	$819,083

Michigan Carpenters Health Care Fund