Corewell Health
72% goes to programs Strong reserves
Corewell Health is a 501(c)(3) organization based in Grand Rapids, Michigan, registered in 2014, with $55,375,814 in FY2014 revenue. CharityIndex grades it B+, and it directs about 72% of spending to programs.
100 Corewell Dr Nw, Grand Rapids, MI, 49503 EIN 38-1360562 Since 2014
Revenue (FY2014)
$55.4M
▼ 22.4% vs prior year
Health median: $840K
Expenses (FY2014)
$57.1M
Net assets
$79.9M
Employees
740
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
BProgram efficiency40% of the rating72% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Corewell Health: 72% to programs earns a B on this criterion. See the exact thresholds →
B+Financial health25% of the rating17 mo reserves · -3% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Corewell Health: 17 mo reserves · -3% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Corewell Health: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Corewell Health: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
The hospital's primary mission is to provide healthcare services to the citizens of barry county. all activities associated with this purpose are included in determination of the operating income. net assets of the hospital are generally unrestricted and are available for the delivery of healthcare services, with the exception of contributions from individual donors, which are temporarily restricted for the purpose intended by the donor. the hospital provides care to all patients regardless of their ability to pay. patients who meet certain criteria under its charity care policy receive care without charge or at amounts less than established rates. because the hospital does not pursue collection of amounts determined to qualify as charity care, they are not reported as revenue.
Contact & location
- Address
- 100 Corewell Dr Nw, Grand Rapids, MI, 49503
- City
- Grand Rapids
- State
- Michigan
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $71.4M (FY2013) to $55.4M (FY2014) across 2 reported years.
Financial snapshot
Financial health & position (FY2014)
Liabilities $19.8MNet assets $79.9M
Operating margin
-3.1%
Spent more than it raised in the latest fiscal year.
Total assets
$99.7M
Total liabilities
$19.8M
Net assets
$79.9M
Salaries & benefits
$29.9M
52% of expenses
Board members
13
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2014 | $55,375,814▼22.4% | $57,105,454▼17.1% | $79,854,625▼10.3% | $99,664,710▼8.0% | 990 |
| 2013 | $71,397,151 | $68,887,021▲11.3% | $89,026,622▲6.1% | $108,322,226▲10.7% | 990 |
| 2012 | — | $61,901,345▲2.5% | $83,938,451▲5.5% | $97,838,476▲4.1% | 990 |
| 2011 | — | $60,416,157▲8.1% | $79,582,705▲12.4% | $93,950,623▲10.8% | 990 |
| 2010 | — | $55,872,537▲2.4% | $70,780,159▲1.6% | $84,824,995▲5.3% | 990 |
| 2009 | — | $54,552,772 | $69,695,862 | $80,558,605 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2014)
Highest-paid: James Horton Md — $505,590 (0.89% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| James Horton Md | Physician | 40 | $505,590 |
| Eric Leep Md | Physician | 40 | $468,024 |
| David Heeringa Md | Physician | 40 | $366,355 |
| Laura Doherty Md | Physician | 40 | $362,046 |
| Max Rappaport Md | Physician | 40 | $337,641 |
| Sheryl Lewis-blake | President | 40 | $328,826 |
| Connie Downs | Cfo | 40 | $196,015 |
| Carla Wilson-neil | Coo | 40 | $181,213 |
| Steve Marzolf | Cno | 40 | $152,151 |
| Bob Davis | Exec. Dir. Physican Network | 40 | $144,736 |
| Jim Wincek | Vp Support Services | 40 | $131,817 |
| Douglas Smendik | Cmo | 40 | $40,530 |
| Christopher Noah Md | Director | 0.5 | $6,480 |
| Brad Johnson CPA | Vice Chair | 0.5 | — |
| Dan King | Director | 0.5 | — |
| David Baum | Secretary | 0.5 | — |
| David Ottenbaker Md | Director | 0.5 | — |
| Jeff Weiden | Treasurer | 0.5 | — |
| Kimberly Norris Md | Director | 0.5 | — |
| Marc Chircop | Director | 0.5 | — |
Top vendors & contractors (FY2014)
| Contractor | Services | Paid |
|---|---|---|
| Progressive Building Services Inc | House Keeping Services | $757,701 |
| Hastings Anesthesiology PC | Anasthesia Services | $467,600 |
| Spectrum Health | Reference Lab / Sleep Study | $433,078 |
| Hdr Architecture Inc | Architectural Services | $311,367 |
| Aramark Corporation | Repair Services | $291,176 |
Grants received · $333K total
2 grants to Corewell Health totaling $333K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Corewell Health | To support exempt purpose | 2024 | $267,951 |
| Michigan Health and Hospital Association | Grant pass through for covid-19 | 2020 | $64,732 |
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Compare Corewell Health
Frequently asked questions
- Is Corewell Health a legitimate nonprofit?
- Yes. Corewell Health is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 38-1360562, based in Grand Rapids, Michigan. Donations are tax-deductible.
- What is Corewell Health's EIN?
- Corewell Health's Employer Identification Number (EIN) is 38-1360562.
- How much revenue does Corewell Health report?
- Corewell Health reported $55,375,814 in total revenue on its fiscal year 2014 IRS Form 990 filing.
- How much of Corewell Health's spending goes to programs?
- Corewell Health spends about 72% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Corewell Health have?
- CharityIndex grades Corewell Health B+, based on program efficiency and fundraising cost.
- How much does Corewell Health's highest-paid employee make?
- The highest reported compensation on Corewell Health's latest Form 990 is $505,590, paid to James Horton Md (Physician).
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Data for Corewell Health (EIN 38-1360562) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.