MARY FREE BED SUB-ACUTE REHABILITATION

EIN: 463971740 501(c)(3) Health Care

GRAND RAPIDS, MI

Total Revenue
$9,611,366
Total Expenses
$10,060,348
Total Assets
$11,138,028
Net Assets
$9,752,930
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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
2012
Legal Domicile
MI
Principal Officer
KIERSTEN CUDNEY
Phone
6168408000
Tax Period
2022-07-01 to 2023-06-30

MARY FREE BED SUB-ACUTE REHABILITATION, founded in 2012, is a community nonprofit in the Health Care sector that reported $9.6M in total revenue in fiscal year 2022.

Mission

MARY FREE BED SUB-ACUTE REHABILITATION PROVIDES SHORT-TERM INPATIENT REHABILITATION THAT IS CUSTOMIZED, COMPREHENSIVE AND COORDINATED TO HELP INDIVIDUALS RECOVER QUICKLY FROM AN ILLNESS, INJURY OR SURGERY.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $9,208,331
Investment Income $81
Other Revenue $402,954
TOTAL REVENUE $9,611,366

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,142,134
Fundraising Expenses $0
Program Expenses $6,572,672
Other Expenses $4,918,214
TOTAL EXPENSES $10,060,348

Year-over-Year Comparison

2022 2021 Change
Revenue $9,611,366 $9,015,971 +0.1%
Expenses $10,060,348 $9,378,709 +0.1%
Net Income $-448,982 $-362,738 +0.2%
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

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
7

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
6
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RAPLH WANG MD CHAIR 0.50
Officer Director
$0 $0 $0
STACEY JOHNSON VICE CHAIR 0.50
Officer Director
$0 $0 $0
NATE GUZMAN TREASURER 0.50
Officer Director
$0 $0 $0
BRUCE BRASSER SECRETARY 0.50
Officer Director
$0 $0 $0
HOLLY BANNINGA DIRECTOR OF ACCESS/REFERRALS 0.10
Director
$0 $0 $0
KIERSTEN CUDNEY BOARD MEMBER 0.10
Director
$0 $0 $0
BECKY LUND BOARD MEMBER 0.50
Director
$0 $0 $0
LEEANN PENNINGTON BOARD MEMBER - PART YEAR 0.50
Director
$0 $0 $0
KAREN POWELL BOARD MEMBER - PART YEAR 0.50
Director
$0 $0 $0
MEG REIMER BOARD MEMBER 0.50
Director
$0 $0 $0
INGRID CHESLEK COO 0.50
Officer
$0 $0 $0
DAVID DEFRAIN VP OF FINANCE 0.50
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $9,611,366 $10,060,348 $11,138,028 $-448,982
2022 $9,015,971 $9,378,709 $11,692,852 $-362,738
2021 $7,724,866 $9,394,386 $13,012,298 $-1,669,520
2020 $8,075,807 $8,102,196 $12,936,425 $-26,389
2019 $7,655,139 $7,954,550 $12,999,246 $-299,411
2018 $7,602,252 $8,369,572 $13,661,326 $-767,320
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