Michigan Health Endowment Fund
93% goes to programs $0 to raise $100 Strong reserves
Michigan Health Endowment Fund is a 501(c)(3) organization based in Brighton, Michigan, registered in 2014, with $116,075,631 in FY2024 revenue. CharityIndex grades it A, and it directs about 93% of spending to programs.
9829 Spencer Rd Ste 201, Brighton, MI, 48114 EIN 46-5054207 Since 2014
Revenue (FY2024)
$116.1M
▲ 3.3% vs prior year
Diseases median: $206K
Expenses (FY2024)
$46.8M
Net assets
$565.1M
Employees
27
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating93% 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 Michigan Health Endowment Fund: 93% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating145 mo reserves · +60% 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 Michigan Health Endowment Fund: 145 mo reserves · +60% 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 Michigan Health Endowment Fund: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Michigan Health Endowment Fund: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
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.
What they do
Under its statutorily required medicare supplemental insurance (medigap) subsidy program, the fund provides subsidies to eligible seniors through 2022 for a total of $120 million.
Contact & location
- Address
- 9829 Spencer Rd Ste 201, Brighton, MI, 48114
- City
- Brighton
- State
- Michigan
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $100.1M (FY2014) to $116.1M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $24.0MNet assets $565.1M
Operating margin
59.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$589.1M
Total liabilities
$24.0M
Net assets
$565.1M
Salaries & benefits
$4.4M
9% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $116,075,631▲3.3% | $46,797,977▲3.8% | $565,117,225▲23.2% | $589,079,701▲22.8% | 990 |
| 2023 | $112,333,265▲3.7% | $45,073,297▼23.0% | $458,793,559▲33.3% | $479,695,196▲31.9% | 990 |
| 2022 | $108,315,323▲6.3% | $58,510,745▲0.4% | $344,100,662▼1.9% | $363,800,759▼1.1% | 990 |
| 2021 | $101,875,561 | $58,257,426▼11.6% | $350,636,465▲23.8% | $367,711,952▲21.7% | 990 |
| 2020 | $101,890,757▲9.6% | $65,905,919▲1.9% | $283,266,234▲25.5% | $302,224,994▲24.8% | 990 |
| 2019 | $92,923,976▲0.8% | $64,705,030▲4.3% | $225,780,241▲29.0% | $242,161,671▲27.9% | 990 |
| 2018 | $92,174,540▲37.6% | $62,050,729▲13.2% | $175,059,864▲10.5% | $189,280,990▲13.4% | 990 |
| 2017 | $67,008,980▲3.3% | $54,825,585▲95.9% | $158,407,982▲18.3% | $166,948,672▲15.9% | 990 |
| 2016 | $64,896,217▲28.0% | $27,986,552▲95.9% | $133,895,931▲37.1% | $144,066,779▲17.3% | 990 |
| 2015 | $50,687,046▼49.4% | $14,288,198▼63.3% | $97,675,025▲59.6% | $122,786,801▲33.6% | 990 |
| 2014 | $100,147,449 | $38,947,625 | $61,199,824 | $91,918,486 | 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 (FY2024)
Highest-paid: Neel Hajra — $368,260 (0.79% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Neel Hajra | Chief Executive Officer | 40 | $368,260 |
| Alan Harris | Director of Investments | 40 | $270,000 |
| Sharon Karaboyas | Coo/cfo | 40 | $260,000 |
| Kari Sederburg | Vp Programs | 40 | $218,400 |
| Rebecca Cienki | Program Director, Behavioral Health | 40 | $188,600 |
| Laurie Solotorow | Program Director, Nutrition & Healthy Lifestyles | 40 | $177,232 |
| Drew Murray | Senior Program Officer, Behavioral Health | 40 | $150,000 |
| Jan Delatorre | Senior Program Officer, Nutrition & Healthy Lifestyles | 40 | $144,050 |
| Philip Lewis | Senior Program Officer, Healthy Aging | 40 | $143,100 |
| Tim Niyonsenga | Senior Program Officer, Healthy Aging | 40 | $139,050 |
| Julie Skubik | Executive Assistant | 40 | $126,360 |
| Elizabeth Boyd | Board Member | 1 | — |
| Gilda Jacobs | Board Secretary | 1 | — |
| Henry Veenstra | Board Treasurer (thru 10/2024) | 2 | — |
| James Womack | Board Member | 1 | — |
| Kathryn Boles | Board Chair | 2 | — |
| Leila Kello | Board Member (as of 02/2024) | 1 | — |
| Lynn Chen-zhang | Board Treasurer (as of 02/2024) | 1 | — |
| Michael Williams | Board Vice Chair | 1 | — |
| Quan Gerville-reache | Board Member (as of 10/2024) | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Northern Trust | Investment Advisory | $999,198 |
| Catchafire Inc | Grantee Capacity Building Services | $642,750 |
| Michigan Nonprofit Association | Nonprofit It Capacity Building | $379,127 |
| The Regents of the University of Michigan | Program Support Contracts | $253,397 |
| Meadows Mental Health Policy Institute For Texas | Behavioral Health Model Implementation Evaluation | $200,000 |
Grants made · $36.0M in FY2024
148 grants totaling $36.0M in FY2024 — showing the 15 largest. All grants made by Michigan Health Endowment Fund →
| Recipient | Purpose | Amount |
|---|---|---|
| Michigan Dep of Health & Human Services | Implementing specialty behavioral health housing assistance | $2,496,422 |
| Regents of the University of Michigan | Wellbeing with implant-overdentures for michigan seniors | $1,800,433 |
| Michigan State University | Rx kids - eastern upper peninsula | $1,522,928 |
| Board of Regents of Eastern Michigan University | Culturally adapted social programs for older asian americans | $874,601 |
| Region II Commission On Services To the Aging | Elder justice advocacy, prevention, and supportive services | $648,514 |
| Michigan Primary Care Association | Development of a coordinating intermediary for medicaid ilos | $500,000 |
| Detroit Area Agency On Aging | Health first home-based primary care | $500,000 |
| Inter Tribal Council of Michigan Inc | Food farmacy program in american indian communities, mi | $500,000 |
| Habitat For Humanity Detroit | Return home safe | $500,000 |
| National Council of Dementia Minds | Dementia minds: building capacity and sustaining success | $500,000 |
| Groundwork Center For Resilient Communities Inc | Brc: addressing barriers to distributing fresh food | $499,976 |
| Corewell Health | Belatched: advancing black breastfeeding | $499,841 |
| National Kidney Foundation Inc | Michigan farm-to-ece network | $499,802 |
| Northern Michigan Health Consortium | Integrating capacity for behavioral health | $499,750 |
| Hospice Care of Southwest Michigan | Palliative care expansion in van buren and cass counties | $495,142 |
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Compare Michigan Health Endowment Fund
Frequently asked questions
- Is Michigan Health Endowment Fund a legitimate nonprofit?
- Yes. Michigan Health Endowment Fund is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 46-5054207, based in Brighton, Michigan. Donations are tax-deductible.
- What is Michigan Health Endowment Fund's EIN?
- Michigan Health Endowment Fund's Employer Identification Number (EIN) is 46-5054207.
- How much revenue does Michigan Health Endowment Fund report?
- Michigan Health Endowment Fund reported $116,075,631 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Michigan Health Endowment Fund's spending goes to programs?
- Michigan Health Endowment Fund spends about 93% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Michigan Health Endowment Fund have?
- CharityIndex grades Michigan Health Endowment Fund A, based on program efficiency and fundraising cost.
- How much does Michigan Health Endowment Fund's highest-paid employee make?
- The highest reported compensation on Michigan Health Endowment Fund's latest Form 990 is $368,260, paid to Neel Hajra (Chief Executive Officer).
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Data for Michigan Health Endowment Fund (EIN 46-5054207) 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.