MICHIGAN HEALTH ENDOWMENT FUND (EIN 465054207) - 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

2014

Legal Domicile

Principal Officer

NEEL HAJRA

Phone

5173740031

Tax Period

2023-01-01 to 2023-12-31

MICHIGAN HEALTH ENDOWMENT FUND, founded in 2014, is a major nonprofit in the Diseases & Disorders sector that reported $112.3M in total revenue in fiscal year 2023. The organization ran a surplus of $67.3M, a strong 60% operating margin.

Mission

THE MISSION OF THE MICHIGAN HEALTH ENDOWMENT FUND IS TO IMPROVE THE HEALTH OF MICHIGAN RESIDENTS, WITH SPECIAL EMPHASIS ON THE HEALTH AND WELLNESS OF CHILDREN AND SENIORS, WHILE REDUCING THE COST OF HEALTH 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 $100,000,000

Program Service Revenue $0

Investment Income $12,333,265

Other Revenue $0

TOTAL REVENUE $112,333,265

Expense Breakdown

Grants Paid $35,232,446

Salaries & Benefits $3,852,662

Fundraising Expenses $0

Program Expenses $42,611,005

Other Expenses $5,988,189

TOTAL EXPENSES $45,073,297

Year-over-Year Comparison

	2023	2022	Change
Revenue	$112,333,265	$108,315,323	+0.0%
Expenses	$45,073,297	$58,510,745	-0.2%
Net Income	$67,259,968	$49,804,578	+0.4%

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

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

$916,694

Total Directors

Key Employees

$912,211

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN JANDERNOA	CHAIR	2.00	Officer Director	$0	$0	$0
KATHRYN BOLES	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
HENRY VEENSTRA	TREASURER	2.00	Officer Director	$0	$0	$0
MICHAEL WILLIAMS	SECRETARY	1.00	Officer Director	$0	$0	$0
ELIZABETH BOYD	DIRECTOR	1.00	Director	$0	$0	$0
ZAINEB HUSSIEN	DIRECTOR	1.00	Director	$0	$0	$0
GILDA JACOBS	DIRECTOR	1.00	Director	$0	$0	$0
TINA WAHL	DIRECTOR	1.00	Director	$0	$0	$0
JAMES WOMACK	DIRECTOR	1.00	Director	$0	$0	$0
NEEL HAJRA	CHIEF EXECUTIVE OFFICER	40.00	Officer	$344,508	$54,038	$398,546
SHARON KARABOYAS	C.O.O. AND C.F.O.	40.00	Officer	$240,000	$38,267	$278,267
KARI SEDERBURG	VICE-PRESIDENT, PROGRAMS	40.00	Officer	$205,961	$33,920	$239,881
ALAN HARRIS	DIRECTOR OF INVESTMENTS	40.00	Key Emp	$249,615	$50,032	$299,647
REBECCA CIENKI	DIRECTOR, BEHAVIORAL HEALTH	40.00	Key Emp	$181,846	$38,387	$220,233
LAURIE SOLOTOROW	DIR., NUTRITION/HEALTHY LIFESTYLES	40.00	Key Emp	$171,481	$44,257	$215,738
MEGAN MURPHY	DIRECTOR, COMMUNITY HEALTH	40.00	Key Emp	$150,654	$25,939	$176,593
LYNDA ZELLER	SR. FELLOW, BEHAVIORAL HEALTH	40.00	Highest	$147,262	$37,990	$185,252
PHIL LEWIS	PROGRAM OFFICER, HEALTHY AGING	40.00	Highest	$131,769	$31,550	$163,319
TIM NIYONSENGA	PROGRAM OFFICER, HEALTHY AGING	40.00	Highest	$130,289	$28,019	$158,308
JAN DELATORRE	SR. PROG. OFF., NUTR./HEALTHY LIFE.	40.00	Highest	$131,769	$16,777	$148,546
JULIE SKUBIK	EXECUTIVE ASSISTANT	40.00	Highest	$121,625	$22,303	$143,928

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	$112,333,265	$45,073,297	$479,695,196	$67,259,968
2022	$108,315,323	$58,510,745	$363,800,759	$49,804,578
2021	$101,875,561	$58,257,426	$367,711,952	$43,618,135
2020	$101,890,757	$65,905,919	$302,224,994	$35,984,838
2019	$92,923,976	$64,705,030	$242,161,671	$28,218,946
2018	$92,174,540	$62,050,729	$189,280,990	$30,123,811
2018	$92,174,540	$62,050,729	$189,280,990	$30,123,811

MICHIGAN HEALTH ENDOWMENT FUND