Henry Ford Health System Foundation

Overview

Mission

The henry ford health system foundation (the foundation) is an affiliate of henry ford health system dba henry ford health ("hf health" ) serving the metropolitan detroit Michigan communities. As an integrated component of one of the nation's leading comprehensive, integrated health systems, the foundation exists to advance the goals and mission of hf health and to improve the quality of human life through its support of the science and art of health care and healing. The organization provides financing to various research and other initiatives of hf health.

What it reported doing in 2024

The foundation's purpose is to manage an endowment fund and based on the results of hf health needs analysis, provide funding to various research and other initiatives of hf health and its affiliates.

Operating model

Revenue model
Investment-supported. 98% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.

Nonprofit profile at a glance

EIN
237383042
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Headquarters
Detroit, MI, USA
Phone
3138768704
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 72
  • Accountability: 88
  • Sustainability: 44
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.2%; rating input score 87; 18th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -98.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 20.88; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 4%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: -5.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 34 of 39 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $18.9M in reported program spending
  • Leadership: top reported pay $7.1M · 40 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 5 annual filings from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 56 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

40 people listed

Highest reported compensation

  • ROBERT G RINEY (TRUSTEE/ PRESIDENT/CEO): $7,081,174 total reported compensation
  • ROBIN S DAMSCHRODER (TREASURER): $3,410,190 total reported compensation
  • STEVEN N KALKANIS MD (PHYSICIAN TRUSTEE): $2,905,207 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.