Corewell Health
74% goes to programs $0 to raise $100 Strong reserves
Corewell Health is a 501(c)(3) organization based in Grand Rapids, Michigan, registered in 2014, with $458,865,983 in FY2018 revenue. CharityIndex grades it B+, and it directs about 74% of spending to programs.
100 Corewell Dr Nw, Grand Rapids, MI, 49503 EIN 38-2156872 Since 2014
Revenue (FY2018)
$458.9M
▲ 2.3% vs prior year
Health median: $840K
Expenses (FY2018)
$412.6M
Net assets
$711.8M
Employees
3,344
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 rating74% to programs · $0 to raise $100
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: 74% to programs · $0 to raise $100 earns a B on this criterion. See the exact thresholds →
AFinancial health25% of the rating21 mo reserves · +10% 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: 21 mo reserves · +10% margin earns a A 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
To improve health, inspire hope and save lives.
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 grew from $387.5M (FY2013) to $458.9M (FY2018) across 6 reported years.
Financial snapshot
Financial health & position (FY2018)
Liabilities $183.9MNet assets $711.8M
Operating margin
10.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$895.7M
Total liabilities
$183.9M
Net assets
$711.8M
Salaries & benefits
$193.0M
47% of expenses
Board members
17
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2018 | $458,865,983▲2.3% | $412,598,169▲2.7% | $711,824,033▲3.1% | $895,680,287▲3.0% | 990 |
| 2017 | $448,708,904▲5.9% | $401,605,648▲6.7% | $690,668,253▲5.4% | $869,224,591▲3.7% | 990 |
| 2016 | $423,526,531▲4.9% | $376,498,242▲3.0% | $655,561,900▲8.5% | $838,418,382▲6.3% | 990 |
| 2015 | $403,572,955▲1.1% | $365,484,510▲7.2% | $604,334,829▲8.4% | $788,531,275▲5.3% | 990 |
| 2014 | $399,258,197▲3.0% | $341,082,907▼1.6% | $557,612,816▲4.0% | $748,511,046▲4.1% | 990 |
| 2013 | $387,535,201 | $346,669,193▲5.6% | $535,956,996▲5.9% | $718,710,006▲4.5% | 990 |
| 2012 | — | $328,154,702▼2.5% | $506,224,006▲10.7% | $687,998,273▲4.5% | 990 |
| 2011 | — | $336,630,994▲8.1% | $457,431,325▲10.2% | $658,444,079▲7.7% | 990 |
| 2010 | — | $311,511,964▲9.4% | $414,998,737▲4.2% | $611,140,367▲2.5% | 990 |
| 2009 | — | $284,750,681 | $398,187,986 | $596,426,051 | 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 (FY2018)
Highest-paid: Loren Hamel Md — $3,169,131 (0.77% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Loren Hamel Md | President & Ceo | 20 | $3,169,131 |
| J Douglas Huggett | Director, Physician | 49 | $590,309 |
| Kourosh Baghelai | Physician | 50 | $476,618 |
| Timothy Calhoun | Vp - Finance & Cfo | 15 | $442,328 |
| Lowell Hamel Md | Vp - Medical Affairs | 50 | $392,740 |
| Kenneth O'neill | Vp - Clinical Integration | 50 | $359,245 |
| Norma Tirado-kellenberger | Vp - It & Hr Services | 50 | $322,424 |
| Stephen Dickson | Physician | 50 | $308,282 |
| Ray Cruse | Vp - Strategy & Hospitality | 24 | $287,024 |
| Natalie Baggio | Vp - Patient Care Cne | 50 | $281,672 |
| Mary Ann Pater | Vp - Legal & General Council | 48 | $275,160 |
| Warren White | Vp - Lakeland Physician Practices | 50 | $273,676 |
| Robin Sarkar | Vp - Information Services | 50 | $263,490 |
| Michelino Mancini | Chief Academic Officer | 50 | $238,555 |
| Kendall Troyer | Vp - Op Diag & Quality | 50 | $227,808 |
| Dilip Arora | Physician | 50 | $195,561 |
| Melinda Gruber | Vp - Post Acute Care Services | 23 | $190,618 |
| Brandi Smith-gordon | Vp - Philanthropy & Foundation President | 5 | $188,369 |
| Robert Nolan Md | Director/medical Staff President | 49 | $41,172 |
| Lynn Gray Md | Director | 1 | $24,000 |
Top vendors & contractors (FY2018)
| Contractor | Services | Paid |
|---|---|---|
| Mall City Mechanical Inc | Construction | $9,576,629 |
| Smithgroup Jjr Inc | Construction | $3,719,153 |
| Epic Systems Corporation | Electronic Health Record System | $2,896,816 |
| Sunset Coast Anesthesia Associates | Anesthesia Services | $2,542,474 |
| Network Solutions Inc | Computer Systems | $1,756,514 |
Grants received · $148K total
4 grants to Corewell Health totaling $148K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Heart Association Inc | Healthcare quality program | 2023 | $25,000 |
| Michigan Health and Hospital Association | Grant pass through for covid-19 | 2020 | $100,159 |
| Michigan Health and Hospital Association | Grant pass through for covid-19 | 2019 | $17,625 |
| Patient Access Network Foundation | Patient assistance | 2015 | $5,033 |
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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 38-2156872, based in Grand Rapids, Michigan. Donations are tax-deductible.
- What is Corewell Health's EIN?
- Corewell Health's Employer Identification Number (EIN) is 38-2156872.
- How much revenue does Corewell Health report?
- Corewell Health reported $458,865,983 in total revenue on its fiscal year 2018 IRS Form 990 filing.
- How much of Corewell Health's spending goes to programs?
- Corewell Health spends about 74% 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 $3,169,131, paid to Loren Hamel Md (President & Ceo).
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Data for Corewell Health (EIN 38-2156872) 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.