MSU HEALTH CARE INC (EIN 832236308) - 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

2018

Legal Domicile

Principal Officer

NATHAN TER BEEK

Phone

5173533143

Tax Period

2022-07-01 to 2023-06-30

MSU HEALTH CARE INC, founded in 2018, is a major nonprofit in the Health Care sector that reported $103.2M in total revenue in fiscal year 2022.

Mission

MISSION IS TO DELIVER A PERSONALIZED EXPERIENCE; PROVIDE A SAFE ENVIRONMENT; TRAIN THE NEXT GENERATION OF CLINICIANS; ENSURE EQUITABLE ACCESS; AND OFFER THE HIGHEST QUALITY CARE.MSU HEALTH CARE AS THE CLINICAL ENTERPRISE OF MICHIGAN STATE UNIVERSITY'S HUMAN HEALTH COLLEGES' FOCUS IS TO PROVIDE HEALING AND CARING, FORM JOINT VENTURES AND PARTNERSHIPS AND LEVERAGE OUR EXPANSIVE CLINICAL RESEARCH AND EXPERT EDUCATIONAL STRENGTHS FOR OUR PATIENTS.WE REMAIN DEDICATED TO THE LAND-GRANT MISSION AND VALUES OF MSU, A MEMBER OF THE ASSOCIATION OF AMERICAN UNIVERSITIES AND A TOP 100 RESEARCH INSTITUTION.MSU HEALTH CARE WAS FORMED TO: - FOCUS ON HEALING AND CARING - FORM JOINT VENTURES AND PARTNERSHIPS - LEVERAGE OUR CLINICAL, RESEARCH AND EDUCATION STRENGTHSDURING FY2023, MSU HEALTH CARE PROVIDED OVER 396,000 ENCOUNTERS TO PATIENTS IN THE STATE OF MICHIGAN.

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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 (2022)

Revenue Breakdown

Contributions & Grants $3,320,313

Program Service Revenue $99,741,179

Investment Income $133,438

Other Revenue $39,976

TOTAL REVENUE $103,234,906

Expense Breakdown

Grants Paid $11,500

Salaries & Benefits $29,732,957

Fundraising Expenses $28,622

Program Expenses $94,607,013

Other Expenses $76,710,892

TOTAL EXPENSES $106,455,349

Year-over-Year Comparison

	2022	2021	Change
Revenue	$103,234,906	$108,429,887	0.0%
Expenses	$106,455,349	$112,648,292	-0.1%
Net Income	$-3,220,443	$-4,218,405	-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

Governance

Voting Members

Independent Members

N/A

Employees

N/A

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

$2,922,523

Total Directors

$4,964,729

Key Employees

$454,623

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREA AMALFITANO	VICE CHAIR	0.25	Officer Director	$0	$47,145	$593,323
JOEL GREENBERG	TREASURER	0.25	Officer Director	$0	$39,863	$552,281
LEIGH SMALL	SECRETARY	0.25	Officer Director	$0	$41,463	$312,029
NORMAN BEAUCHAMP	CHAIR	0.25	Officer Director	$0	$46,861	$822,126
ANDREW ZWYGHUIZEN	DIRECTOR (PART YEAR)	0.25	Director	$0	$30,848	$438,870
ANN SHEEHAN	DIRECTOR	0.25	Director	$0	$27,298	$159,161
ARON SOUSA	DIRECTOR	0.25	Director	$0	$47,145	$665,438
JED MAGEN	DIRECTOR	0.25	Director	$0	$44,584	$371,392
LISA FRACE	DIRECTOR	0.25	Director	$0	$41,765	$511,565
SRINIVAS KAVUTURU	DIRECTOR	0.25	Director	$0	$35,766	$538,544
NATHAN TER BEEK	CFO MSU HCI	60.00	Officer	$0	$29,882	$214,357
SETH CIABOTTI	CEO MSU HCI	60.00	Officer	$381,262	$47,145	$428,407
COLLEEN HOFFMAN	RADIOLOGY ADMINISTRATOR	50.00	Key Emp	$165,062	$30,308	$195,370
KRISTINE ALLEN	CHIEF NURSING OFFICER	50.00	Key Emp	$225,678	$33,575	$259,253
CHRISTIE DAISS	PHARMACIST	50.00	Highest	$126,472	$17,693	$144,165
HOLLY PETERSON	RADIOLOGY ADMINISTRATOR	50.00	Highest	$128,831	$27,431	$156,262
KAREN ROSS	FINANCE DIRECTOR	50.00	Highest	$122,944	$24,839	$147,783
NICOLE GARGANO	PHARMACIST	50.00	Highest	$110,683	$27,628	$138,311
SANDRA CAMPBELL	CHIEF PHARMACIST	50.00	Highest	$157,988	$11,831	$169,819
ANNETTE CAWLEY	FORMER CFO/CONSULTANT	60.00		$182,780	$8,906	$191,686

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	$103,234,906	$106,455,349	$43,819,384	$-3,220,443
2022	$108,429,887	$112,648,292	$41,673,304	$-4,218,405
2021	$115,734,137	$116,778,524	$36,553,428	$-1,044,387
2020	$337,367	$1,036,687	$5,605,003	$-699,320
2019	$6,502,120	$207,727	$6,294,393	$6,294,393

MSU HEALTH CARE INC