Covenant Medical Center Inc
88% goes to programs $0 to raise $100 Strong reserves
Covenant Medical Center Inc is a 501(c)(3) organization based in Saginaw, Michigan, registered in 1998, with $830,573,569 in FY2023 revenue. CharityIndex grades it A, and it directs about 88% of spending to programs.
1447 N Harrison St, Saginaw, MI, 48602 EIN 38-3369438 Since 1998
Revenue (FY2023)
$830.6M
▲ 4.7% vs prior year
Health median: $840K
Expenses (FY2023)
$806.1M
Net assets
$553.2M
Employees
5,249
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating88% 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 Covenant Medical Center Inc: 88% to programs · $0 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating8 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 Covenant Medical Center Inc: 8 mo reserves · +3% 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 Covenant Medical Center Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 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 Covenant Medical Center Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To provide diverse medical care to meet the health care needs of the 14 counties in east central michigan we serve.
Contact & location
- Address
- 1447 N Harrison St, Saginaw, MI, 48602
- City
- Saginaw
- State
- Michigan
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $566.6M (FY2013) to $830.6M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $314.1MNet assets $553.2M
Operating margin
2.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$867.3M
Total liabilities
$314.1M
Net assets
$553.2M
Salaries & benefits
$473.8M
59% of expenses
Board members
12
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $830,573,569▲4.7% | $806,102,876▲3.7% | $553,228,693▲10.1% | $867,284,470▲6.9% | 990 |
| 2022 | $793,294,499▲0.8% | $777,451,585▼1.6% | $502,554,718▲4.0% | $811,272,319▲0.6% | 990 |
| 2021 | $787,096,091▲1.3% | $790,478,715▼2.0% | $483,062,941▼16.1% | $806,735,551▼22.3% | 990 |
| 2020 | $776,913,978▲10.5% | $806,671,919▲17.8% | $575,880,843▲18.0% | $1,038,790,282▲15.7% | 990 |
| 2019 | $702,795,000▲1.4% | $684,540,078▲3.6% | $487,862,779▲3.5% | $897,582,436▲17.8% | 990 |
| 2018 | $693,118,114▼2.0% | $660,785,506▲0.6% | $471,170,972▲3.7% | $762,269,811▲4.2% | 990 |
| 2017 | $707,117,045▲8.1% | $657,045,666▲6.7% | $454,509,646▲20.8% | $731,378,507▲7.1% | 990 |
| 2016 | $654,302,525▲4.3% | $615,635,972▲4.8% | $376,149,549▲19.9% | $682,673,907▲7.6% | 990 |
| 2015 | $627,509,463▲8.6% | $587,175,604▲7.4% | $313,684,911▲1.9% | $634,321,113▲3.3% | 990 |
| 2014 | $578,052,082▲2.0% | $546,770,322▲2.7% | $307,966,767▼2.7% | $613,845,921▲3.2% | 990 |
| 2013 | $566,582,470 | $532,242,939▲10.6% | $316,452,682▲20.0% | $594,924,132▲7.1% | 990 |
| 2012 | — | $481,424,678▼1.4% | $263,700,989▲30.6% | $555,736,306▲4.9% | 990 |
| 2011 | — | $488,255,320▼1.3% | $201,854,547▼3.8% | $529,758,145▲3.5% | 990 |
| 2010 | — | $494,622,434▲2.9% | $209,840,431▲84.0% | $511,872,649▲7.7% | 990 |
| 2009 | — | $480,455,920 | $114,023,072 | $475,168,932 | 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 (FY2023)
Highest-paid: Bakri Kaakeh — $2,054,538 (0.25% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Bakri Kaakeh | Physician | 40 | $2,054,538 |
| Mark Zaki | Physician | 40 | $1,609,942 |
| James Fugazzi | Physician | 40 | $1,565,094 |
| George Malliaras | Physician | 40 | $1,551,464 |
| Frank Schinco | Physician | 40 | $1,379,094 |
| Bethany Charlton | President | 54 | $850,284 |
| Kevin Albosta | Vice President | 55 | $569,523 |
| Dr Michael Sullivan | Vice President | 50 | $502,350 |
| Dr Iris Marteja | Vice President | 50 | $502,224 |
| Kevin Birchmeier | Vice President | 50 | $472,407 |
| Michael Fiore Md | Board Member/physician | 50 | $441,520 |
| Frank Fear | Vice President | 50 | $313,025 |
| Patrice Lanczak | Vice President | 50 | $302,062 |
| David Nall | Vice President | 50 | $280,251 |
| Adam Tompa | Vice President | 50 | $264,535 |
| Jackie Tinnin | Vice President | 50 | $230,707 |
| Matthew Deibel | Vice President | 50 | $77,113 |
| Amy Buben - Part Year | Board Member | 4 | — |
| Craig Goslin | Board Member | 4 | — |
| Dwight Mcnally | Vice Chairman | 4 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Epic Systems Corporation | It Mtc Support | $4,917,327 |
| Hema-tec | Dialysis Services | $2,634,415 |
| Preferred Medical Marketing | Collection Services | $2,011,725 |
| Alliance Hni Health Care | Pet/ct Services | $1,818,968 |
| Dickinson Wright Pllc | Legal Services | $1,737,517 |
Grants received · $6.3M total
6 grants to Covenant Medical Center Inc totaling $6.3M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Michigan Health and Hospital Association | Grant pass through | 2023 | $1,400,000 |
| Michigan Health and Hospital Association | Grant pass through | 2022 | $2,350,000 |
| Michigan Health and Hospital Association | Grant pass through | 2021 | $2,350,000 |
| Michigan Health and Hospital Association | Grant pass through for covid-19 | 2020 | $125,385 |
| Michigan Health and Hospital Association | Grant pass through for covid-19 | 2019 | $28,797 |
| American Heart Association Inc | Emergency equipment upgrade | 2015 | $76,800 |
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Frequently asked questions
- Is Covenant Medical Center Inc a legitimate nonprofit?
- Yes. Covenant Medical Center Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 38-3369438, based in Saginaw, Michigan. Donations are tax-deductible.
- What is Covenant Medical Center Inc's EIN?
- Covenant Medical Center Inc's Employer Identification Number (EIN) is 38-3369438.
- How much revenue does Covenant Medical Center Inc report?
- Covenant Medical Center Inc reported $830,573,569 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Covenant Medical Center Inc's spending goes to programs?
- Covenant Medical Center Inc spends about 88% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Covenant Medical Center Inc have?
- CharityIndex grades Covenant Medical Center Inc A, based on program efficiency and fundraising cost.
- How much does Covenant Medical Center Inc's highest-paid employee make?
- The highest reported compensation on Covenant Medical Center Inc's latest Form 990 is $2,054,538, paid to Bakri Kaakeh (Physician).
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Data for Covenant Medical Center Inc (EIN 38-3369438) 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.