Spectrum Health System
- Assets
- $4.9b
- Revenue
- $4.6b
- Investments
- $0.0
- Employees
- 30,645
- Location
- Grand Rapids, MI
- Founding
- 03/2014
- Data as of
- 12/2021
- EIN
- 61-1740292
Organization Overview
Spectrum Health System is located in Grand Rapids, MI. The organization was established in 2014. 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 12/2021, Spectrum Health System employed 30,645 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Spectrum Health System 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 12/2021, Spectrum Health System generated $4.6b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $4.2b during the year ending 12/2021. While expenses have increased by 5.9% 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, Spectrum Health System has awarded 279 individual grants totaling $23,436,901. 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
TO IMPROVE HEALTH, INSPIRE HOPE AND SAVE LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECTRUM HEALTH SYSTEM GROUP REFLECTS THE COMPOSITE INFORMATION AND OPERATIONS OF 23 TAX EXEMPT ENTITIES, INCLUDING 14 SEPARATELY LICENSED HOSPITALS, A SKILLED NURSING FACILITY, LONG-TERM ACUTE REHABILITATION AND HOME CARE, A MULTISPECIALTY PHYSICIAN GROUP, AND A CHARITABLE FOUNDATION. THE SPECTRUM HEALTH SYSTEM GROUP INCLUDES 150 SERVICE SITES, PHYSICIAN OFFICES AND OUTPATIENT LOCATIONS, PROVIDING CONVENIENT ACCESS TO SERVICES THROUGHOUT OUR 16-COUNTY SERVICE AREA. SEE SCHEDULE O - CONTINUED UNDER PART III, LINE 4A SPECTRUM HEALTH HOSPITAL GROUP.
SPECTRUM HEALTH MEDICAL GROUP - SEE SCHEDULE O
SPECTRUM HEALTH FOUNDATION - SEE SCHEDULE O
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Former Treasurer, Shcc | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Christman Company Construction | 12/30/21 | $41,498,130 |
Trane Maintenance | 12/30/21 | $17,270,014 |
Siemens Medical Solutions Inc Medical Equipment | 12/30/21 | $15,282,592 |
Emergency Care Specialists Pc Medical Services | 12/30/21 | $8,540,055 |
Intuitive Surgical Medical Equipment | 12/30/21 | $11,102,260 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $322,426 |
| Related organizations | $1,459,954 |
| Government grants | $82,536,797 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,771,754 |
| Noncash contributions included in lines 1a–1f | $1,910,045 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $116,090,931 |
| Total Program Service Revenue | $4,401,146,222 |
| Investment income | $7,278,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,698,267 |
| Net Gain/Loss on Asset Sales | $46,740,151 |
| Net Income from Fundraising Events | $119,458 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,589,850,744 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,818,476 |
| Grants and other assistance to domestic individuals. | $34,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $29,294,277 |
| Compensation of current officers, directors, key employees. | $2,033,927 |
| Compensation to disqualified persons | $2,204,755 |
| Other salaries and wages | $1,667,433,425 |
| Pension plan accruals and contributions | $62,418,747 |
| Other employee benefits | $225,510,551 |
| Payroll taxes | $110,636,049 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $926,052 |
| Fees for services: Accounting | $2,376 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $136,662,347 |
| Advertising and promotion | $1,597,096 |
| Office expenses | $40,933,640 |
| Information technology | $9,423,853 |
| Royalties | $0 |
| Occupancy | $132,409,496 |
| Travel | $4,157,617 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,873,628 |
| Interest | $10,851,342 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $213,273,337 |
| Insurance | $35,361,217 |
| All other expenses | $24,839,546 |
| Total functional expenses | $4,242,768,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,376,233 |
| Savings and temporary cash investments | $1,059,771,252 |
| Pledges and grants receivable | $36,061,633 |
| Accounts receivable, net | $506,312,640 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $82,445,449 |
| Prepaid expenses and deferred charges | $22,193,093 |
| Net Land, buildings, and equipment | $2,079,608,207 |
| Investments—publicly traded securities | $481,558,753 |
| Investments—other securities | $0 |
| Investments—program-related | $48,758,806 |
| Intangible assets | $1,187,200 |
| Other assets | $500,979,112 |
| Total assets | $4,852,252,378 |
| Accounts payable and accrued expenses | $471,387,516 |
| Grants payable | $0 |
| Deferred revenue | $67,524,865 |
| Tax-exempt bond liabilities | $563,762,986 |
| 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 | $497,611 |
| Other liabilities | $804,814,093 |
| Total liabilities | $1,907,987,071 |
| Net assets without donor restrictions | $2,743,728,221 |
| Net assets with donor restrictions | $200,537,086 |
| 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 | $4,852,252,378 |
Grants Awarded
Over the last fiscal year, Spectrum Health System has awarded $4,794,585 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MI PURPOSE: General Support | $903,518 |
Grand Rapids, MI PURPOSE: Increased Access Dental Services | $434,000 |
Grand Rapids, MI PURPOSE: Racial Health Equity Investment | $320,000 |
CITY OF GRAND RAPIDS PURPOSE: Racial Health Equity Investment | $300,000 |
Grand Rapids, MI PURPOSE: Racial Health Equity Investment | $250,000 |
Grand Rapids, MI PURPOSE: After School Arts and Library | $225,000 |
Endowment Analysis
| Beg. Balance | $130,255,451 |
| Earnings | $15,215,729 |
| Net Contributions | $4,122,097 |
| Other Expense | $4,483,045 |
| Ending Balance | $145,110,232 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Parkview Health System Inc Fort Wayne, IN | $2,712,217,032 | $933,221,094 |
Gundersen Lutheran Administrative Services Inc La Crosse, WI | $1,235,621,372 | $953,342,080 |
Bhsh System Grand Rapids, MI | $2,915,356,282 | $1,050,315,288 |
University Hospitals Health System Inc Shaker Heights, OH | $6,082,138,000 | $960,105,000 |
Aultman Health Foundation Group Return Canton, OH | $450,362,832 | $880,954,681 |
Aurora Health Care Inc Milwaukee, WI | $4,608,404,718 | $666,695,867 |
Mercy Health Partners Muskegon, MI | $816,487,004 | $692,908,897 |
Inclusa Inc Stevens Point, WI | $163,276,844 | $696,118,730 |
Froedtert & Community Health Inc Milwaukee, WI | $2,857,726,016 | $675,461,810 |
Adena Health System Chillicothe, OH | $876,980,484 | $590,625,475 |
Indiana University Health Arnett Inc Indianapolis, IN | $319,820,511 | $504,048,288 |
Mclaren Greater Lansing Lansing, MI | $873,460,551 | $435,283,009 |