MARY FREE BED REHABILITATION HOSPITAL FOUNDATION

EIN: 461164285 501(c)(3) Health Care

GRAND RAPIDS, MI

Total Revenue
$30,792,914
Total Expenses
$12,258,194
Total Assets
$77,409,223
Net Assets
$58,240,777
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
MI
Phone
8005288989
Tax Period
2024-04-01 to 2025-03-31

MARY FREE BED REHABILITATION HOSPITAL FOUNDATION, founded in 2012, is a mid-sized nonprofit in the Health Care sector that reported $30.8M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $18.5M, a strong 60% operating margin.

Mission

TO RECEIVE AND ADMINISTER FUNDS FOR MARY FREE BED REHABILITATION HOSPITAL, A CHARITABLE ORGANIZATION, IN ORDER TO RAISE FUNDS FOR CAPITAL, EXPANSION, AND PROGRAM IMPROVEMENTS OF THE HOSPITAL AND RELATED TAX-EXEMPT ORGANIZATIONS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $28,898,594
Program Service Revenue $0
Investment Income $1,757,110
Other Revenue $137,210
TOTAL REVENUE $30,792,914

Expense Breakdown

Grants Paid $10,533,286
Salaries & Benefits $1,216,342
Fundraising Expenses $1,307,785
Program Expenses $10,533,286
Other Expenses $508,566
TOTAL EXPENSES $12,258,194

Year-over-Year Comparison

2024 2023 Change
Revenue $30,792,914 $24,590,747 +0.3%
Expenses $12,258,194 $4,534,281 +1.7%
Net Income $18,534,720 $20,056,466 -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

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
10
Employees
N/A
Volunteers
98

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
5
$1,728,269
Total Directors
12
$1,763,660
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENT RIDDLE President 1.0
Officer Director
$0 $41,635 $1,216,897
Lee Perez Chairman of the Board 1.0
Officer Director
$0 $0 $0
Linsay Benedict Vice Chair 1.0
Officer Director
$0 $0 $0
Anne Chamberlin TRUSTEE 1.0
Director
$0 $0 $0
Brent Van Haren TRUSTEE 1.0
Director
$0 $0 $0
DR BENJAMIN BRUINSMA MD TRUSTEE/CMO 1.0
Director
$0 $49,520 $546,763
Eva Aguirre Cooper TRUSTEE 1.0
Director
$0 $0 $0
Gregory Conway TRUSTEE 1.0
Director
$0 $0 $0
Jacques Moss TRUSTEE 1.0
Director
$0 $0 $0
Katherine Lee Baker TRUSTEE 1.0
Director
$0 $0 $0
Marcus Jackson TRUSTEE 1.0
Director
$0 $0 $0
Timothy Arter TRUSTEE 1.0
Director
$0 $0 $0
NATHANIEL GUZMAN TREASURER 1.0
Officer
$0 $12,957 $226,582
Tim Pietryga SECRETARY 40.0
Officer
$0 $38,719 $284,790
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 $30,792,914 $12,258,194 $77,409,223 $18,534,720
2024 $24,590,747 $4,534,281 $53,620,260 $20,056,466
2023 $8,051,286 $3,996,713 $30,031,805 $4,054,573
2022 $4,137,162 $3,340,647 $19,514,518 $796,515
2021 $10,178,796 $2,494,351 $15,211,056 $7,684,445
2020 $2,702,991 $2,361,765 $7,274,804 $341,226
2019 $3,310,385 $2,422,834 $3,352,852 $887,551
2018 $877,256 $1,773,205 $2,244,297 $-895,949
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