MUNSON HEALTHCARE GRAYLING

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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

KIRSTEN KORTH-WHITE

Phone

2319355000

Tax Period

2024-07-01 to 2025-06-30

MUNSON HEALTHCARE GRAYLING, founded in 2014, is a major nonprofit in the Health Care sector that reported $106.9M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $103.3M left a modest 3% surplus.

Mission

AS A VITAL PART OF MUNSON HEALTHCARE, MUNSON HEALTHCARE GRAYLING EXISTS TO DELIVER COMPREHENSIVE QUALITY CARE TO PATIENTS IN PARTNERSHIP WITH PHYSICIANS.

Program Service Accomplishments

Program 1

Expenses: $88,141,871 Revenue: $105,666,744

EXPENSES INCURRED WHILE PROVIDING HOSPITAL SERVICES TO THE RESIDENTS OF THE CRAWFORD COUNTY REGION WHILE FULFILLING THE HOSPITAL'S MISSION TO PROVIDE HEALTHCARE IN THE COMMUNITY. MUNSON HEALTHCARE...

EXPENSES INCURRED WHILE PROVIDING HOSPITAL SERVICES TO THE RESIDENTS OF THE CRAWFORD COUNTY REGION WHILE FULFILLING THE HOSPITAL'S MISSION TO PROVIDE HEALTHCARE IN THE COMMUNITY. MUNSON HEALTHCARE GRAYLING HAD 1,911 INPATIENT ADMISSIONS IN FISCAL YEAR 2025 AND OVER 106,000 OUTPATIENT VISITS. THE HOSPITAL SERVED MORE THAN 3,000 SURGICAL CASES, 289 OBSTETRICAL BIRTHS, AND OVER 17,800 EMERGENCY ROOM VISITS. MUNSON HEALTHCARE GRAYLING ACCEPTS ALL PATIENTS, REGARDLESS OF ABILITY TO PAY. THE HOSPITAL HAS 101 ACTIVE MEDICAL STAFF AND 24 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 $576,142

Program Service Revenue $105,654,861

Investment Income $27,544

Other Revenue $615,005

TOTAL REVENUE $106,873,552

Expense Breakdown

Grants Paid $0

Salaries & Benefits $45,101,626

Fundraising Expenses $100,626

Program Expenses $88,141,871

Other Expenses $58,213,194

TOTAL EXPENSES $103,314,820

Year-over-Year Comparison

	2024	2023	Change
Revenue	$106,873,552	$97,862,044	+0.1%
Expenses	$103,314,820	$99,134,557	+0.0%
Net Income	$3,558,732	$-1,272,513	-3.8%

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

635

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

$1,337,170

Total Directors

$4,666,190

Key Employees

$3,036,403

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
JAMES SHURLOW	SURGEON	1.00	Highest	$1,892	$48,297	$1,412,734
LAURA GLENN	COO	2.00	Key Emp	$0	$111,766	$1,141,163
MICHAEL VANWAGNER DO	ORTHOPEDIC S	1.00	Highest	$25,885	$29,957	$990,030
PAUL KONOPACKI	CFO	2.00	Officer	$0	$92,977	$801,715
MATTHEW DUBIEL MD	ORTHOPEDIC S	4.00	Highest	$68,945	$46,392	$771,269
DINO RECCHIA MD	DIRECTOR	0.00	Director	$0	$31,094	$746,394
JASON BENNETT DO	ORTHOPEDIC S	40.00	Highest	$605,602	$47,417	$653,019
BRIAN STIRLING MD	PHYSICIAN	40.00	Highest	$600,916	$49,344	$650,260
ELLEN SMITH	PRESIDENT AM	2.00	Key Emp	$0	$9,670	$548,244
KIRSTEN KORTH-WHITE	PRESIDENT	40.00	Officer Director	$0	$55,874	$510,455
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
CHRISTOPHER SQUIRE	VP ANCILLARY	2.00	Key Emp	$0	$21,246	$324,273
MICHAEL HODNETT	CNO/COO	40.00	Key Emp	$251,351	$48,067	$299,418
BONNIE KRUSZKA	CHIEF APP/CF	2.00	Key Emp	$0	$28,633	$285,862
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	Officer 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	$106,873,552	$103,314,820	$41,977,245	$3,558,732
2024	No data	No data	No data	No data
2023	$94,477,043	$98,950,833	$37,925,022	$-4,473,790
2022	$104,170,968	$101,757,945	$57,547,384	$2,413,023
2021	$98,806,333	$92,802,781	$58,695,179	$6,003,552
2020	$94,972,299	$92,536,998	$53,283,145	$2,435,301
2019	$94,111,624	$93,359,117	$38,875,135	$752,507
2018	$92,468,654	$91,938,044	$37,752,643	$530,610