SEIU MICHIGAN HEALTH AND WELFARE FUND (EIN 386061083) - 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

1950

Legal Domicile

Principal Officer

SAME AND C ABOVE

Phone

3135673904

Tax Period

2022-07-01 to 2023-06-30

SEIU MICHIGAN HEALTH AND WELFARE FUND, founded in 1950, is a community nonprofit that reported $3.9M in total revenue in fiscal year 2022. Revenue decreased 15% compared to the prior year. Expenses of $6.3M exceeded revenue, resulting in a 63% operating deficit.

Mission

THE FUND IS CREATED, ESTABLISHED, AND MAINTAINED FOR THE PURPOSE OF PROVIDING ELIGIBLE EMPLOYEES AND THEIR DEPENDENTS AND/OR BENEFICIARIES WITH MEDICAL, SURGICAL, AND HOSPITAL CARE; BENEFITS IN THE EVENT OF SICKNESS, ACCIDENT, DISABILITY, DEATH, OR UNEMPLOYMENT; AND DENTAL, OPTICAL, AND PRESCRIPTION DRUG CARE; AND FOR THE PURPOSE OF DEFRAYING REASONABLE COST OF ADMINISTRATION.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,496,589

Investment Income $354,904

Other Revenue $0

TOTAL REVENUE $3,851,493

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $733,382

TOTAL EXPENSES $6,280,787

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,851,493	$4,524,309	-0.1%
Expenses	$6,280,787	$4,964,818	+0.3%
Net Income	$-2,429,294	$-440,509	+4.5%

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

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

Total Directors

$318,273

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH MUNZ	SECRETARY	1.00	Director	$0	$42,574	$181,174
MAXIMILIAN GERBOC	TRUSTEE	1.00	Director	$0	$32,099	$137,099
JOHN ASKA	CHAIRMAN	1.00	Director	$0	$0	$0
JOHN TAMAS	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$3,851,493	$6,280,787	$11,305,414	$-2,429,294
2022	$4,524,309	$4,964,818	$11,686,444	$-440,509
2021	$5,173,585	$5,631,701	$14,513,270	$-458,116
2020	$4,309,309	$6,360,238	$13,998,098	$-2,050,929
2019	$4,543,653	$5,100,909	$16,020,537	$-557,256
2018	$5,150,596	$5,482,309	$15,072,556	$-331,713

SEIU MICHIGAN HEALTH AND WELFARE FUND