Mymichigan Health
- Assets
- $1.3b
- Revenue
- $343.1m
- Investments
- $18.5m
- Employees
- 496
- Location
- Midland, MI
- Founding
- 09/1983
- Data as of
- 06/2021
- EIN
- 38-2459948
Organization Overview
Mymichigan Health is located in Midland, MI. The organization was established in 1983. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 06/2022, Mymichigan Health employed 496 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mymichigan Health is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Mymichigan Health generated $343.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $92.2m during the year ending 06/2021. While expenses have increased by 3.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Mymichigan Health has awarded 24 individual grants totaling $262,795. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CREATING HEALTHY COMMUNITIES TOGETHER BY PROVIDING EXCELLENT HEALTH SERVICES TO IMPROVE THE QUALITY OF LIFE FOR OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOLDING COMPANY PROVIDES ASSISTANCE TO OUR VARIOUS MEMBERS IN ORDER TO IMPROVE THE QUALITY OF CARE AND PROVIDE SERVICES AT THE LOWEST POSSIBLE COST. EXPERTISE AT THE HOLDING COMPANY LEVEL INCLUDES STRATEGIC PLANNING, TREASURY, INFORMATION RESOURCES, HUMAN RESOURCES, INTERNAL AUDIT, FINANCE, MATERIALS MANAGEMENT AND RISK MANAGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Postler-Slattery Diane President (part Year) | OfficerTrustee | 50 | $1,509,228 |
Rogers Gregory President (part Year) | OfficerTrustee | 50 | $1,103,048 |
Watson Pinney MD Lydia Chief Medical Officer | Officer | 50 | $757,432 |
Rose Michael Sr Vp, CFO & Treasurer | Officer | 50 | $678,863 |
Padgett Francine Former Sr Vp, Secretary & Treasurer | 0 | $676,976 | |
Jandwani MD Pankaj Chief Innovation Officer | 50 | $570,850 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Miron Construction Co Inc Construction Services | 6/29/22 | $33,223,772 |
Three Rivers Construction Construction Services | 6/29/22 | $19,798,444 |
Greater Midland Emergency Physician Pc Emergency Room Physicians | 6/29/22 | $14,228,253 |
American Healthcare Services Association Physician Services | 6/29/22 | $13,796,055 |
Sodexo Inc & Affiliates Food Services | 6/29/22 | $13,292,663 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $251,792,815 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $463,446 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $343,130,388 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,668,085 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,736,286 |
| Pension plan accruals and contributions | $3,186,463 |
| Other employee benefits | $4,486,727 |
| Payroll taxes | $2,430,516 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,388,364 |
| Fees for services: Accounting | $737,928 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $91,276 |
| Fees for services: Other | $31,346,464 |
| Advertising and promotion | $1,784 |
| Office expenses | $1,152,433 |
| Information technology | $793,595 |
| Royalties | $0 |
| Occupancy | $33,531 |
| Travel | $202,495 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $264,773 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,613,305 |
| Insurance | $19,867 |
| All other expenses | $0 |
| Total functional expenses | $92,228,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $36,493,374 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20 |
| Prepaid expenses and deferred charges | $10,219,374 |
| Investments—publicly traded securities | $53,234,749 |
| Investments—other securities | $18,474,944 |
| Investments—program-related | $1,091,476,058 |
| Intangible assets | $0 |
| Other assets | $1,305,492 |
| Total assets | $1,253,347,497 |
| Accounts payable and accrued expenses | $68,038,472 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $119,462,136 |
| Total liabilities | $187,500,608 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,065,846,889 |
Grants Awarded
Over the last fiscal year, Mymichigan Health has awarded $57,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: DONATION | $9,000 |
MIDLAND COMMUNITY CANCER SERVICES PURPOSE: DONATION | $15,000 |
HARRISON COMMUNITY SCHOOLS SPORTS BOOSTERS PURPOSE: DONATION | $10,000 |
GREATER MIDLAND COMMUNITY CENTERS INC PURPOSE: DONATION | $23,500 |