Advanced Pet Imaging Network FY2022 filing

Tax-deductible

Midland, MI501(c)(3)Health CareEIN 11-3703981

To provide mobile positron emission tomography imaging equipment and services to 6 hospitals that otherwise did not offer this service to patients.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(3)
not on the IRS revocation list
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
Yes
Donations are tax-deductible
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
IRS e-file · Filing history
Is it financially stable?
4 of 5
years in the black
Pt I · Ln 19 · 5 filings
How much reaches the programs?
84%
of spending
Pt IX · Ln 25 · col B
Do they have reserves?
4 mo
of spending, in cash
Pt X · Ln 1–2 · Pt I · Ln 18
Do they carry debt?
$47K
liabilities
Pt X · Ln 26
Who oversees it?
0
independent of 6 voting board members
Pt VI · Ln 1a–1b
Revenue
$827K
-16% vs prior year
Spent
$788K
To programs
84%
Net assets
$356K
By yearFY2020–FY2024
Revenue
$827K
FY2022▼ -16%
Revenue by fiscal year
FY2020$1.4M
FY2021$990K
FY2022$827K
FY2023$860K
FY2024$919K
FY2024$84K
Expenses
$788K
FY2022▲ +2%
Expenses by fiscal year
FY2020$910K
FY2021$773K
FY2022$788K
FY2023$961K
FY2024$912K
FY2024$72K
Net assets
$356K
FY2022▼ -50%
Net assets by fiscal year
FY2020$500K
FY2021$717K
FY2022$356K
FY2023$255K
FY2024$262K
FY2024$0

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CAdvanced Pet Imaging Network
EINHdr · item D11-3703981
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFAug 2004
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CMidland, MI
NTEE classificationIRS BMFHealth Care (E192)
WebsiteHdr · item Jwww.mymichigan.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.16
Program services84%$659K
Management & general16%$129K
Total functional expensesLn 25$788K

Financial health

Is it on solid ground?

Net inflow
+5%
revenue over expenses, this year
Pass-through gifts
0%
of revenue from contributions
Program spending
84%
of expenses reach stated programs

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$403K
FY2022▼ -50%
Total assets by fiscal year
FY2020$608K
FY2021$804K
FY2022$403K
FY2023$311K
FY2024$322K
FY2024$0
Total liabilities
$47K
FY2022▼ -46%
Total liabilities by fiscal year
FY2020$108K
FY2021$87K
FY2022$47K
FY2023$57K
FY2024$60K
FY2024$0
Revenue less expensesPt I · Ln 19$39K
Total assetsPt X · Ln 16$403K
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1$284K
Total assetsLn 16$403K
Total liabilitiesLn 26$47K
Total net assetsLn 32$356K
Months of cash on handcomputed4.3

Statement of Revenue

Part VIII
Program service revenue100%$827K
Investment income$95
Total revenueLn 12$827K

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $284K · Operating expenses/yr $788K
4.3 months
Where the money goes
Program services
Program services $659K · Total expenses $788K
84%
Management & General
Management & general $129K · Total expenses $788K
16%
Fundraising
Fundraising $0 · Total expenses $788K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $827K
0%
Government reliance
Government grants — · Total revenue $827K
—
Earned-income share
Program service revenue $827K · Total revenue $827K
100%
Investment reliance
Investment income $95 · Total revenue $827K
+0.01%
Program self-sufficiency
Program service revenue $827K · Total expenses $788K
105%
Growth & trend
Revenue growth (YoY)
This year $827K · Prior year $990K
-16%
Net-asset trend (YoY)
End of year $356K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $827K · Expenses $788K
+5%
Liabilities-to-Assets
Total liabilities — · Total assets $403K
—
Net-asset ratio
Net assets $356K · Total assets $403K
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $403K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Erickson Michael · Reported title SECRETARY/TREASURER · Highest reported compensation $0 · Total expenses $788K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $788K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 84%——
Overhead ratio 16%——
Revenue growth -16%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Former Sec/Treasurer
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Advanced Pet Imaging Network executive salaries →

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Governance & Policies

Part VI
  • 6Voting board membersPt VI · Ln 1a
  • –Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Brings PET scan equipment and services to hospitals lacking them.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $659K of program spending, described in the organization's own filed words · FY2021.
01

Advanced pet imaging provides positron emission tomography services to patients in several locations. These include: midland, alma, saginaw, tawas, marlette, alpena and west branch. 2,841 scans were completed in fiscal year 2022 without regard to the patient's ability to pay.

$659Kprogram expense

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $919K$912K+7% 990 PDF
FY2023 $860K$961K+4% 990 PDF
FY2022 Viewing $827K$788K-16% 990 PDF
FY2021 $990K$773K-27% 990 PDF
FY2020 $1.4M$910K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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