Michigan Health Endowment Fund
- Assets
- $479.7m
- Revenue
- $112.3m
- Investments
- $201.1m
- Employees
- 26
- Location
- Brighton, MI
- Founding
- 10/2014
- Data as of
- 12/2023
- EIN
- 46-5054207
Organization Overview
Michigan Health Endowment Fund is located in Brighton, MI. The organization was established in 2014. According to its NTEE Classification (G12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2023, Michigan Health Endowment Fund employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Health Endowment Fund 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 12/2023, Michigan Health Endowment Fund generated $112.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $45.1m during the year ending 12/2023. While expenses have increased by 13.6% per year over the past 9 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 2014, Michigan Health Endowment Fund has awarded 1,296 individual grants totaling $329,536,482. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MICHIGAN HEALTH ENDOWMENT FUND IS TO IMPROVE THE HEALTH OF MICHIGAN RESIDENTS, WITH SPECIAL EMPHASIS ON THE HEALTH AND WELLNESS OF CHILDREN AND SENIORS, WHILE REDUCING THE COST OF HEALTH CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES GRANTS TO VARIOUS PUBLIC CHARITIES TO HELP IMPROVE THE HEALTH OF MICHIGAN RESIDENTS AND REDUCE THE COST OF HEALTH CARE, WITH A SPECIAL EMPHASIS ON THE HEALTH AND WELLNESS OF CHILDREN AND SENIORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Jandernoa Chair | OfficerTrustee | 2 | $0 |
Kathryn Boles Vice-Chair | OfficerTrustee | 1 | $0 |
Henry Veenstra Treasurer | OfficerTrustee | 2 | $0 |
Michael Williams Secretary | OfficerTrustee | 1 | $0 |
Elizabeth Boyd Director | Trustee | 1 | $0 |
Zaineb Hussien Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northern Trust Investment Advisory Services | 12/30/23 | $790,984 |
Catchafire Inc Grantee Capacity Building Services | 12/30/23 | $899,827 |
University Of Michigan Program Support Contracting | 12/30/23 | $314,183 |
Michigan State University Policy Program Support | 12/30/23 | $281,950 |
Michigan Nonprofit Association Nonprofit I.t. Capacity Building | 12/30/23 | $190,302 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $100,000,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $11,873,145 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $460,120 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,333,265 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,232,446 |
| 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. | $1,825,005 |
| Compensation of current officers, directors, key employees. | $453,567 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,200,402 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $612,567 |
| Payroll taxes | $214,688 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,947 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $387,497 |
| Fees for services: Other | $4,748,560 |
| Advertising and promotion | $0 |
| Office expenses | $110,145 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $481,104 |
| Travel | $60,507 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,780 |
| Insurance | $35,818 |
| All other expenses | $89,831 |
| Total functional expenses | $45,073,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,335,664 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $95,967 |
| Net Land, buildings, and equipment | $280,496 |
| Investments—publicly traded securities | $255,618,802 |
| Investments—other securities | $201,104,814 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,259,453 |
| Total assets | $479,695,196 |
| Accounts payable and accrued expenses | $380,459 |
| Grants payable | $17,796,924 |
| 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 | $2,724,254 |
| Total liabilities | $20,901,637 |
| Net assets without donor restrictions | $212,593,559 |
| Net assets with donor restrictions | $246,200,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $479,695,196 |
Grants Awarded
Over the last fiscal year, Michigan Health Endowment Fund has awarded $35,232,446 in support to 150 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS HEALTH INC PURPOSE: MUSKEGON COUNTY HOW YOU BIRTH DOULA INITIATIVE | $197,567 |
ACCESS OF WEST MICHIGAN PURPOSE: COLLABORATIVE PLANNING FOR HEALTHY FOOD ACCESS IN KENT COUNTY | $172,500 |
ACCESS HEALTH INC PURPOSE: LIVABILITY LAB - MUSKEGON'S COMMUNITY-DRIVEN CHANGE MODEL | $150,000 |
AGEWAYS NONPROFIT SENIOR SERVICES PURPOSE: LONG-TERM CARE OMBUDSMAN PROGRAM EXPANSION PROJECT | $386,188 |
ALPENA AREA SENIOR CITIZENS COUNCIL INC PURPOSE: DREAM (DEMENTIA, RESOURCES, EDUCATE, ADVOCACY, MENTORSHIP) | $250,000 |
ALL SAINTS OF ALPENA PURPOSE: EMERGENCY WARMING SHELTER | $140,000 |