HRMC 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

1994

Legal Domicile

Principal Officer

NICOLA LARSON

Phone

6053536315

Tax Period

2023-01-01 to 2023-12-31

HRMC FOUNDATION, founded in 1994, is a small nonprofit in the Health Care sector that reported $886K in total revenue in fiscal year 2023. Revenue surged 71% from the prior year, signaling strong growth momentum. The organization ran a surplus of $247K, a strong 28% operating margin.

Mission

PURPOSE IS TO RAISE GIFT INCOME EACH YEAR, WHICH WILL BE USED TO SUPPORT AND ENDOW THE MAINTENANCE AND ENHANCEMENT OF THE HEALTH CARE SERVICES ON BEHALF OF HURON REGIONAL MEDICAL CENTER.

Program Service Accomplishments

Program 1

Expenses: $606,687 Revenue: $118,415

EXPENDITURES TO BRING GIFTS OF THE COMMUNITY TOGETHER TO STRENGTHEN, SUPPORT AND ENHANCE THE HURON REGIONAL MEDICAL SYSTEM OF CARE.

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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 $600,758

Program Service Revenue $118,415

Investment Income $117,982

Other Revenue $48,628

TOTAL REVENUE $885,783

Expense Breakdown

Grants Paid $0

Salaries & Benefits $50,848

Fundraising Expenses $0

Program Expenses $606,687

Other Expenses $588,419

TOTAL EXPENSES $639,267

Year-over-Year Comparison

	2023	2022	Change
Revenue	$885,783	$516,792	+0.7%
Expenses	$639,267	$285,665	+1.2%
Net Income	$246,516	$231,127	+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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIDGET CARR	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
RYAN GOEHNER	DIRECTOR	1.00	Director	$0	$0	$0
NICOLA LARSON	CHAIRMAN	1.00	Officer Director	$0	$0	$0
TASHA LEE	DIRECTOR	1.00	Director	$0	$0	$0
TOM LIGHT	DIRECTOR	1.00	Director	$0	$0	$0
DR ANTHONY LOEWEN	DIRECTOR	1.00	Director	$0	$0	$0
KRISTI MATTKE	DIRECTOR	1.00	Director	$0	$0	$0
JOEL NELSON	SECRETARY/TR	1.00	Officer Director	$0	$0	$0
KATIE RENO	DIRECTOR	1.00	Director	$0	$0	$0
LAURIE SMITH	DIRECTOR	1.00	Director	$0	$0	$0
DOUG STAHLY	FORMER CHAIR	1.00	Director	$0	$0	$0
GORDON WOLLMAN	DIRECTOR	1.00	Director	$0	$0	$0
LEVI KARY	EXECUTIVE DI	40.00	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	No data	No data	No data	No data
2023	$885,783	$639,267	$3,580,945	$246,516
2022	$516,792	$285,665	$3,328,888	$231,127
2021	$620,258	$345,012	$3,566,373	$275,246
2020	$607,600	$553,393	$3,223,467	$54,207
2019	$390,878	$549,099	$3,051,353	$-158,221
2018	$406,216	$462,710	$2,928,453	$-56,494