Priority Health
- Assets
- $2.0b
- Revenue
- $4.3b
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 12/1995
- Data as of
- 12/2021
- EIN
- 38-2715520
Organization Overview
Priority Health is located in Grand Rapids, MI. The organization was established in 1995. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Priority Health is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Priority Health generated $4.3b in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $4.3b during the year ending 12/2021. While expenses have increased by 10.7% 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.
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
PRIORITY HEALTH HMO: SEE SCHEDULE O
PRIORITY HEALTH SENIOR MARKETS (MEDICARE ADVANTAGE AND MEDICARE SUPPLEMENT): SEE SCHEDULE O
PRIORITY HEALTH WELLNESS: SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Former Vp, System Total Value | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Regents Of University Of Michigan Claims Services | 12/30/21 | $107,118,759 |
Saint Marys Health Services Claims Services | 12/30/21 | $92,033,661 |
Express Scripts Claims Services | 12/30/21 | $979,144,835 |
Munson Medical Center Claims Services | 12/30/21 | $101,073,771 |
Metropolitan Hospital Claims Services | 12/30/21 | $95,471,939 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $4,290,537,956 |
| Investment income | $20,813,631 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $682,940 |
| Net Gain/Loss on Asset Sales | $18,660,005 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,330,694,532 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,869,655,995 |
| Compensation of current officers, directors, key employees. | $6,551,791 |
| Compensation of current officers, directors, key employees. | $2,948,306 |
| Compensation to disqualified persons | $67,065 |
| Other salaries and wages | $189,406,341 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,536,756 |
| Payroll taxes | $21,649,855 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $88,388 |
| Fees for services: Accounting | $1,130,742 |
| Fees for services: Lobbying | $37,789 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,780,505 |
| Fees for services: Other | $79,760,478 |
| Advertising and promotion | $18,646,686 |
| Office expenses | $5,927,368 |
| Information technology | $111,131 |
| Royalties | $0 |
| Occupancy | $4,531,538 |
| Travel | $144,195 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $138,192 |
| Interest | $246,712 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,847,266 |
| Insurance | $654,020 |
| All other expenses | $1,101,564 |
| Total functional expenses | $4,341,991,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,438,031 |
| Savings and temporary cash investments | $432,117,084 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $208,942,952 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $25,521,841 |
| Investments—publicly traded securities | $889,096,644 |
| Investments—other securities | $0 |
| Investments—program-related | $350,601,648 |
| Intangible assets | $40,450,949 |
| Other assets | $25,151,991 |
| Total assets | $2,003,321,140 |
| Accounts payable and accrued expenses | $477,056,266 |
| Grants payable | $0 |
| Deferred revenue | $46,942,391 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,161,982 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $148,386,074 |
| Total liabilities | $690,546,713 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $8,471 |
| Paid-in or capital surplus, or land, building, or equipment fund | $122,521,001 |
| Retained earnings, endowment, accumulated income, or other funds | $1,190,244,955 |
| Total liabilities and net assets/fund balances | $2,003,321,140 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Priority Health has recieved totaling $499,724.
| Awarding Organization | Amount |
|---|---|
Michigan Health Endowment Fund Brighton, MI PURPOSE: ADVANCE CARE PLANNING FOR HIGH-RISK SNF RESIDENTS | $499,724 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Caresource Indiana Inc Dayton, OH | $434,368,652 | $990,208,142 |
Chorus Community Health Plans Inc Milwaukee, WI | $219,109,708 | $426,722,132 |
Delta Dental Plan Of Ohio Lansing, MI | $343,423,763 | $312,874,791 |
Indiana University Health Plans Nfp Inc Indianapolis, IN | $55,412,016 | $150,612,935 |
Total Health Care Usa Inc Detroit, MI | $56,540,654 | $152,617,176 |
Mymichigan Medical Group Midland, MI | $10,229,632 | $144,689,929 |
Delta Dental Plan Of Indiana Inc Lansing, MI | $130,548,004 | $128,115,251 |
Wholesalers Group Life And Health Benefit Plan Trust Dayton, OH | $7,139,163 | $56,286,491 |
Michigan Health Information Technology Network Shared Service Lansing, MI | $16,978,463 | $41,944,426 |
Quartz Health Plan Mn Corporation Madison, WI | $12,772,052 | $31,014,352 |
Hancock County Schools Health Benefit Fund And Trust Findlay, OH | $800,339 | $11,750,938 |
Indiana Comprehensive Health Insurance Assoc Indianapolis, IN | $0 | $0 |