Michigan Health Endowment Fund
- Assets
- $367.7m
- Revenue
- $101.9m
- Investments
- $146.6m
- Employees
- 22
- Location
- Brighton, MI
- Founding
- 10/2014
- Data as of
- 12/2021
- EIN
- 46-5054207
Organization Overview
Michigan Health Endowment Fund is located in Brighton, MI. The organization was established in 2014. According to its NTEE Classification (G12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2021, Michigan Health Endowment Fund employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Health Endowment Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Michigan Health Endowment Fund generated $101.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $58.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Michigan Health Endowment Fund has awarded 884 individual grants totaling $234,590,826. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FUND WAS FORMED TO SUPPORT EFFORTS THAT IMPROVE THE QUALITY OF HEALTH CARE WHILE REDUCING COSTS TO RESIDENTS OF THE STATE OF MICHIGAN, AS WELL AS TO BENEFIT THE HEALTH AND WELLNESS OF MINOR CHILDREN AND SENIORS THROUGHOUT THE STATE, WITH A SIGNIFICANT FOCUS ON EIGHT AREAS OUTLINED IN ITS ENABLING LEGISLATION, BY AWARDING GRANTS FOR NOT MORE THAN THREE YEARS FOR PROJECTS THAT SUPPORT THESE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND PROVIDES GRANTS TO VARIOUS PUBLIC CHARITIES TO HELP IMPROVE THE HEALTH OF MICHIGAN RESIDENTS AND REDUCE THE COST OF HEALTH CARE, WITH A SPECIAL EMPHASIS ON THE HEALTH AND WELLNESS OF CHILDREN AND SENIORS.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Hillegonds Chief Executive Officer (former) | Officer | 40 | $302,077 |
Terry Gardner Chief Operating Officer | Officer | 40 | $281,308 |
Alan Harris Director Of Investments | Officer | 40 | $212,246 |
Kari Sederburg Director, Healthy Aging | Officer | 40 | $175,468 |
Rebecca Cienki Director, Behavioral Health | Officer | 40 | $175,468 |
Lynda Zeller Sr. Prog. Off., Behavioral Health | 40 | $164,417 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Maximus Health Services Inc Medigap Services | 12/30/21 | $1,502,076 |
Catchafire Inc Grantee Capacity Building Services | 12/30/21 | $563,000 |
Northern Trust Investment Advisory Services | 12/30/21 | $672,171 |
Wayne State University Addiction Ecosystem Study | 12/30/21 | $274,875 |
Mha Keystone Center Age Friendly Health Systems Study | 12/30/21 | $273,583 |
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 | $85,050,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,050,000 |
| Total Program Service Revenue | $0 |
| Investment income | $7,681,307 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,144,254 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $101,875,561 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,389,776 |
| Grants and other assistance to domestic individuals. | $14,531,588 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,556,893 |
| Compensation of current officers, directors, key employees. | $702,779 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,171,070 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $467,638 |
| Payroll taxes | $179,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,570 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $414,295 |
| Fees for services: Other | $5,923,658 |
| Advertising and promotion | $0 |
| Office expenses | $71,399 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $308,061 |
| Travel | $10,025 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,773 |
| Insurance | $34,210 |
| All other expenses | $63,948 |
| Total functional expenses | $58,257,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,945,915 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,080,138 |
| Net Land, buildings, and equipment | $365,510 |
| Investments—publicly traded securities | $213,222,752 |
| Investments—other securities | $146,590,429 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $507,208 |
| Total assets | $367,711,952 |
| Accounts payable and accrued expenses | $664,786 |
| Grants payable | $16,224,473 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $186,228 |
| Total liabilities | $17,075,487 |
| Net assets without donor restrictions | $184,436,465 |
| Net assets with donor restrictions | $166,200,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $367,711,952 |
Grants Awarded
Over the last fiscal year, Michigan Health Endowment Fund has awarded $33,389,776 in support to 170 organizations.
| Grant Recipient | Amount |
|---|---|
Ann Arbor, MI PURPOSE: TRAILS: BUILDING A STATEWIDE STUDENT MENTAL HEALTH SOLUTION | $500,000 |
East Lansing, MI PURPOSE: HOSPITAL ENGAGEMENT ADDICTION RESOURCES TEAM | $500,000 |
Lansing, MI PURPOSE: OUTREACH TO VULNERABLE POPULATIONS FOR COVID-19 VACCINES | $500,000 |
MICHIGAN DEPARTMENT OF HEALTH AND HUMAN SERVICES PURPOSE: AUTOMATING MEDICAID FOR INCARCERATED BENEFICIARIES | $500,000 |
MICHIGAN DEPARTMENT OF EDUCATION PURPOSE: STRENGTHENING SYSTEMS OF SUPPORT FOR LGBTQ+ STUDENTS | $500,000 |
DISTRICT HEALTH DEPARTMENT #10 PURPOSE: INTERCONNECTED MENTAL HEALTH SYSTEM FOR YOUTH | $500,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Michigan Health Endowment Fund has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
Metro Health Foundation Allen Park, MI PURPOSE: TO SUPPORT TELEHEALTH SERVICES FOR THE SOUTHEAST MICHIGAN HEALTH SAFETY NET DURING THE COVID-19 CRISIS. | $50,000 |
Metro Health Foundation Allen Park, MI PURPOSE: TO SUPPORT TELEHEALTH SERVICES FOR THE SOUTHEAST MICHIGAN HEALTH SAFETY NET DURING THE COVID-19 CRISIS. | $50,000 |
Endowment Analysis
| Beg. Balance | $242,089,772 |
| Earnings | $41,488,068 |
| Net Contributions | $26,050,000 |
| Ending Balance | $309,627,840 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Michigan Health Endowment Fund Brighton, MI | $367,711,952 | $101,875,561 |
Hope For Haitis Children Ministries Inc Cincinnati, OH | $7,123,949 | $4,468,101 |
Nf Forward Detroit, MI | $11,092,671 | $8,373,465 |
Resort Charity Events Inc Bloomington, IN | $167,488 | $1,958,916 |
Fairwaycares Inc Madison, WI | $4,640,276 | $2,059,491 |
Caribbean Christian Centre For The Deaf Inc Zeeland, MI | $419,881 | $1,266,757 |
Poetice Holland, MI | $490,843 | $1,098,533 |
Friends Of Dba Strongsville, OH | $348,955 | $938,128 |
The Gala Of Hope Foundation Inc Beavercreek, OH | $946,576 | $856,062 |
Prayers From Maria Foundation Rocky River, OH | $1,459,519 | $1,224,922 |
Pardee Cancer Treatment Fund Of Midland & Gladwin Midland, MI | $4,021,265 | $224,149 |
Osteopathic Foundation Of West Michigan Norton Shores, MI | $11,783,251 | $1,454,427 |