Michigan Health Endowment Fund

Nonprofit profile at a glance

EIN
465054207
IRS 990 coverage
2014–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Brighton, MI, USA
Phone
517-374-0031
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$116,075,631
Expenses
$46,797,977
Assets
$589,079,701
Liabilities
$23,962,476

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

23 people listed

Executive titles in this filing

  • NEEL HAJRA (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • NEEL HAJRA (CHIEF EXECUTIVE OFFICER): $425,749 total reported compensation
  • ALAN HARRIS (DIRECTOR OF INVESTMENTS): $321,610 total reported compensation
  • SHARON KARABOYAS (COO/CFO): $310,987 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Michigan Health Endowment Fund is a philanthropic foundation that works to improve the health and wellness of Michigan residents while reducing healthcare costs.

What it reported doing in 2024

The fund provides grants to various eligible organizations 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.

Operating model

Revenue model
Donor-supported. 90% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 82% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.3%; rating input score 45
  • Program expense ratio: 93.3%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 21st percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 59.7%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 12.59; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 17.2% per year; rating input score 100; 90th percentile among comparable filings

Details

  • What they do: 4 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 45.3% of revenue deployed · 93.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $43.6M in reported program spending
  • Leadership: top reported pay $426K · 23 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.5M reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 159 filed money-flow records
  • Related organizations: 149 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 45/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.