MUNSON HEALTHCARE CADILLAC

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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

PETER MARINOFF

Phone

2319355000

Tax Period

2024-07-01 to 2025-06-30

MUNSON HEALTHCARE CADILLAC, founded in 2014, is a major nonprofit in the Health Care sector that reported $256.0M in total revenue in fiscal year 2024. Revenue surged 82% from the prior year, signaling strong growth momentum. Expenses of $223.3M left a modest 13% surplus.

Mission

MUNSON HEALTHCARE CADILLAC AND ITS PARTNERS WORK TOGETHER TO PROVIDE SUPERIOR QUALITY CARE AND PROMOTE COMMUNITY HEALTH.

Program Service Accomplishments

Program 1

Expenses: $190,635,398 Revenue: $252,297,734

EXPENSES INCURRED WHILE PROVIDING HOSPITAL SERVICES TO THE RESIDENTS OF CADILLAC, MICHIGAN AND THE SURROUNDING AREA WHILE FULFILLING THE HOSPITAL'S MISSION TO PROVIDE HEALTHCARE IN THE COMMUNITY...

EXPENSES INCURRED WHILE PROVIDING HOSPITAL SERVICES TO THE RESIDENTS OF CADILLAC, MICHIGAN AND THE SURROUNDING AREA WHILE FULFILLING THE HOSPITAL'S MISSION TO PROVIDE HEALTHCARE IN THE COMMUNITY. MUNSON HEALTHCARE CADILLAC HAD 2,654 INPATIENT ADMISSIONS IN FISCAL YEAR 2025 AND OVER 176,700 OUTPATIENT VISITS. THE HOSPITAL SERVED MORE THAN 5,100 SURGICAL CASES, 409 OBSTETRICAL BIRTHS, AND OVER 24,000 EMERGENCY ROOM VISITS. MUNSON HEALTHCARE CADILLAC ACCEPTS ALL PATIENTS, REGARDLESS OF ABILITY TO PAY. THE HOSPITAL HAS APPROXIMATELY 153 ACTIVE MEDICAL STAFF AND 27 VOLUNTEERS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,945,147

Program Service Revenue $252,339,019

Investment Income $18,838

Other Revenue $663,323

TOTAL REVENUE $255,966,327

Expense Breakdown

Grants Paid $0

Salaries & Benefits $65,093,822

Fundraising Expenses $217,333

Program Expenses $190,635,398

Other Expenses $158,156,587

TOTAL EXPENSES $223,250,409

Year-over-Year Comparison

	2024	2023	Change
Revenue	$255,966,327	$140,714,179	+0.8%
Expenses	$223,250,409	$129,766,373	+0.7%
Net Income	$32,715,918	$10,947,806	+2.0%

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

745

Volunteers

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

$1,308,865

Total Directors

$4,642,885

Key Employees

$2,691,464

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDWIN A NESS	DIRECTOR	2.00	Director	$0	$253,876	$2,922,871
LAURA GLENN	MHC SYSTEM C	2.00	Key Emp	$0	$111,766	$1,141,163
KENT BOWDEN DO	SURGEON	40.00	Highest	$923,313	$55,398	$978,711
PAUL KONOPACKI	CFO	2.00	Officer	$0	$92,977	$801,715
MATTHEW DUBIEL MD	ORTHOPEDIC S	2.00	Highest	$29,536	$46,392	$771,269
DINO RECCHIA MD	DIRECTOR	0.00	Director	$0	$31,094	$746,394
DONALD SCHOLTEN MD	SURGEON	10.00	Highest	$163,712	$40,603	$712,076
JOSEPH WARD MD	ORTHOPEDIC S	12.00	Highest	$192,527	$53,346	$709,482
PAUL BIZZIGOTTI MD	ORTHOPEDIC S	40.00	Highest	$525,646	$38,933	$564,579
ELLEN SMITH	PRESIDENT AM	2.00	Key Emp	$0	$9,670	$548,244
PETER MARINOFF	PRESIDENT	40.00	Officer Director	$0	$76,263	$487,150
KATHLEEN LARAIA	VP ONCOLOGY	2.00	Key Emp	$0	$59,521	$437,443
VINCENT SCHULTZ MD	DIRECTOR	0.00	Director	$0	$45,583	$401,470
BONNIE KRUSZKA	CHIEF APP &	2.00	Key Emp	$0	$28,633	$285,862
CRISTEN BRANDSMA	COO/CNO	40.00	Key Emp	$250,110	$28,642	$278,752
KENNETH BLOEM	CHAIR	0.00	Officer Director	$0	$0	$5,000
MATT BULLOCH	DIRECTOR	0.00	Director	$0	$0	$5,000
NICK CEGLAREK	DIRECTOR	0.00	Director	$0	$0	$5,000
KATHY DIXON	DIRECTOR	0.00	Director	$0	$0	$5,000
JENNIFER KING	DIRECTOR	0.00	Director	$0	$0	$5,000
KARL KLIMEK	DIRECTOR	0.00	Director	$0	$0	$5,000
RUTH HOPPE MD	V CHAIR	0.00	Officer Director	$0	$0	$5,000
DAVE MENGEBIER	TREASURER	0.00	Officer Director	$0	$0	$5,000
KIM MORLEY	DIRECTOR	0.00	Director	$0	$0	$5,000
TIM NELSON	SECRETARY	0.00	Officer Director	$0	$0	$5,000
ANDY PAGE	DIRECTOR	0.00	Director	$0	$0	$5,000
BRIAN POSTMA	DIRECTOR	0.00	Director	$0	$0	$5,000
OWEN ROBERTS	DIRECTOR	0.00	Director	$0	$0	$5,000
MARY SANDERS	DIRECTOR	0.00	Director	$0	$0	$5,000
KRISTINE THOMAS	DIRECTOR	0.00	Director	$0	$0	$5,000
TOM VERYSER	DIRECTOR	0.00	Director	$0	$0	$5,000
ELAINE WOOD	DIRECTOR	0.00	Director	$0	$0	$5,000
DAVID MCCURDY	DIRECTOR	0.00	Director	$0	$0	$0
SAKURA TAKANO	DIRECTOR	0.00	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	$255,966,327	$223,250,409	$90,681,323	$32,715,918
2024	No data	No data	No data	No data
2023	$131,411,611	$126,619,555	$50,392,268	$4,792,056
2022	$133,036,721	$119,999,629	$79,589,718	$13,037,092
2021	$123,901,366	$110,048,891	$113,351,457	$13,852,475
2020	$111,462,096	$101,599,626	$96,622,371	$9,862,470
2019	$112,050,695	$104,010,531	$71,123,499	$8,040,164
2018	$98,875,981	$97,563,489	$50,219,257	$1,312,492