MARY FREE BED INSURANCE COMPANY PCC

EIN: 854388186 501(c)(3) Mutual Benefit

GRAND RAPIDS, MI

Total Revenue
$2,479,287
Total Expenses
$3,105,602
Total Assets
$4,722,629
Net Assets
$857,106
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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
2020
Legal Domicile
DC
Phone
8005288989
Tax Period
2024-04-01 to 2025-03-31

MARY FREE BED INSURANCE COMPANY PCC, founded in 2020, is a community nonprofit in the Mutual Benefit sector that reported $2.5M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $3.1M exceeded revenue, resulting in a 25% operating deficit.

Mission

THE CAPTIVE ISSUES DEDUCTIBLE REIMBURSEMENT POLICIES TO ITS NOT-FOR-PROFIT OWNER FOR LOSSES INCURRED UNDER COMMERCIAL INSURANCE POLICIES, COVERING GENERAL AND PROFESSIONAL LIABILITY, AND EXCESS WORKERS COMPENSATION AND EMPLOYEE MEDICAL PLAN EXPENSES. CAPTIVE PROMOTES THE HEALTH OF THE COMMUNITY IT AND MFB SERVE THROUGH VARIOUS MEANS, INCLUDING, BUT NOT LIMITED TO, PROVIDING HEALTH CARE SERVICES TO ALL PERSONS SEEKING CARE AT CAPTIVE'S PARENT'S FACILITIES WITHOUT REGARD TO ANY PERSON'S ABILITY TO PAY FOR SUCH CARE, AND, IN PARTICULAR, PROVIDING HEALTH CARE SERVICES ON A NON-DISCRIMINATORY BASIS TO ALL MEDICARE AND MEDICAID PATIENTS SEEKING CARE AT CAPTIVE'S FACILITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,401,958
Investment Income $77,329
Other Revenue $0
TOTAL REVENUE $2,479,287

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,930,473
Other Expenses $3,105,602
TOTAL EXPENSES $3,105,602

Year-over-Year Comparison

2024 2023 Change
Revenue $2,479,287 $2,219,494 +0.1%
Expenses $3,105,602 $3,179,283 0.0%
Net Income $-626,315 $-959,789 -0.3%
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
3
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
3
$1,883,427
Total Directors
3
$1,883,427
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENT RIDDLE SECRETARY 1.0
Officer Director
$0 $41,635 $1,216,897
NATHANIEL GUZMAN PRESIDENT 1.0
Officer Director
$0 $12,957 $226,582
RYAN PODVIN TREASURER 1.0
Officer Director
$0 $45,866 $439,948
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 $2,479,287 $3,105,602 $4,722,629 $-626,315
2024 $2,219,494 $3,179,283 $4,126,609 $-959,789
2023 $2,314,157 $1,741,345 $4,768,464 $572,812
2022 $2,103,477 $1,179,441 $4,395,711 $924,036
2021 $428,118 $393,466 $2,131,024 $34,652
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