Sparrow Foundation FY2024 filing

Tax-deductible

Lansing, MI501(c)(3)Since 1960Health CareEIN 38-6100687Revenue $5.1M in FY2024

On file with the IRSuofmhealthsparrow.org1215 E Michigan Ave, 48912-1811 · Lansing, MITax-exempt since May 1965Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Foundation is to operate for the benefit of and to carry out the purposes of the nonprofit and tax-exempt subsidiaries of umh- Sparrow health system, a michigan nonprofit corporation ("sole member"), and its mission to improve the health of the people in our community by providing quality, compassionate care to everyone, every time.

501(c)(3) charity; gifts are tax-deductible.
60¢ of each $1 spent went to programs.
$408K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $3.6M a year · 46% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$408K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
24 mo
of spending, in cash
Looks good: 24.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $349K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.4M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 27 voting members
Looks good: 18 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.1M
-64% vs prior year
Spent
$5.6M
To programs
60%
Net assets
$36.6M
By yearFY2020–FY2024
Revenue
$5.1M
FY2024▼ -64%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.8M
FY2021$7.8M
FY2022$14.0M
FY2024$5.1M
FY2024$7.6M
Expenses
$5.6M
FY2024▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.4M
FY2021$3.8M
FY2022$4.5M
FY2024$5.6M
FY2024$4.8M
Net assets
$36.6M
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$21.4M
FY2021$30.8M
FY2022$35.4M
FY2024$36.6M
FY2024$39.8M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1965.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $3.4M Management & general 32% · $1.8M Fundraising 8% · $419K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

36 people listed on the 990; $408K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
VP Sparrow F
$295,432Pt VII · Sec A
Major Gifts
$105,254Pt VII · Sec A
Board Member
$1,440Pt VII · Sec A
$1,440Pt VII · Sec A
Board Member
$1,440Pt VII · Sec A
$1,440Pt VII · Sec A
Board Mem/ C
$1,440Pt VII · Sec A
VP Finance/T
$0Pt VII · Sec A

Michelle Reynaert’s $283K as Frmr VP Sprr is at the 87th percentile of top reported officer pay among 3128 $1–10M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2022FY2021FY2020
Michelle Reynaert$282,663$295,432$269,942$278,518$222,126
John Shaski$167,027————
Joy Wiseman$112,195$105,254$102,130——
Veronica Klem$86,978————
Russell Dawson$1,560$1,440$1,440——
Monique Field-Foster$1,560$1,440———
Tayo Moss$1,560————
Debbie Petersmark$1,560$1,440$1,440—$658

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Raises and distributes funds to support local healthcare services and provide emergency financial assistance to hospital caregivers in times of crisis.

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Provided by the organization

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2 programs · $3.4M · in their own filed words · FY2023
01

At the sparrow foundation, we foster and create strong community partnerships that help sparrow health system uphold its commitment to providing exceptional care close to home, no matter lifes circumstances. For more than 60 years, the sparrow foundation has inspired philanthropy to strengthen the health of our communities.

$3.2Mprogram expense
02

The care for the caregivers fund of the sparrow foundation was established more than 30 years ago to support sparrow caregivers in crisis or who are experiencing a catastrophic need. In 2024, 172 requests for support were funded.

$129Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 8 funders →
Grants paid · 26 grants · $11.5M · 2020–2024
Sparrow Eaton HospitalMI · FY2024$110,342
Sparrow Carson HospitalMI · FY2024$108,399
Sparrow Clinton HospitalMI · FY2024$86,485
Unitemized GrantFY2024$82,627
Sparrow Ionia HospitalMI · FY2024$42,420
Sparrow Eaton HospitalMI · FY2023$196,562
Unitemized GrantFY2023$128,672
Sparrow Clinton HospitalMI · FY2023$54,321
Sparrow Ionia HospitalMI · FY2023$9,381
Unitemized GrantFY2022$167,967
Sparrow Eaton HospitalMI · FY2022$98,132
Sparrow Eaton HospitalMI · FY2022$84,315
Unitemized GrantFY2022$76,357
Sparrow Carson HospitalMI · FY2022$42,233
See all 26 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5.1M
Ln 12
Gifts and grantsLn 1h$4.1M
Investment incomeLn 3$1.1M
Money outPt IX
$5.6M
Ln 25
Programscol B$3.4M
Managementcol C$1.8M
Fundraisingcol D$419K
Owns and owesPt X
$36.6M
net assets · Ln 32
Cash and savingsLn 1–2$11.2M
Total assetsLn 16$38.0M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
36
listed · VII A
PaidVII A7
Voting boardVI 1a27
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.1M
Noncash giftsLn 1g$378K
Fundraising eventsLn 1c$533K
Investment incomeLn 3$1.1M
Gains on assetsLn 7$279K
Total revenueLn 12$5.1M
Assets in detailPt X, end of year
CashLn 1$11.2M
Cash and savings togetherLn 1–2$11.2M
InvestmentsLn 11–13$25.1M
Land, buildings, equipmentLn 10c$81K
Total assetsLn 16$38.0M
LiabilitiesLn 26$1.4M
Net assetsLn 32$36.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$11.5M$11.2M
InvestmentsLn 11–13$22.7M$25.1M
Land, buildings, equipmentLn 10c$100K$81K
Total assetsLn 16$36.3M$38.0M
LiabilitiesLn 26$488K$1.4M
Net assetsLn 32$35.8M$36.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3.2M$3.2M
Grants to domestic individualsLn 2$129K$129K
Pay of current officers, directors and key staffLn 5$358K$358K
Other salaries and wagesLn 7$566K$202K$363K
Pension plan contributionsLn 8$44K$5K$39K
Other employee benefitsLn 9$109K$93K$16K
Payroll taxesLn 10$68K$67K$656
Investment management feesLn 11f$25K$25K
Advertising and promotionLn 12$14K$14K
Office expensesLn 13$13K$13K
Conferences, conventions and meetingsLn 19$30K$30K
Depreciation, depletion and amortizationLn 22$15K$15K
Other expenses (24a–d)Ln 24$972K$972K
Total functional expensesLn 25$5.6M$3.4M$1.8M$419K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $5.1M$5.6M−$451K$36.6M 990 PDF
FY2023 Not on file
FY2022 $14.0M$4.5M$9.5M$35.4M 990 PDF
FY2021 $7.8M$3.8M$4.0M$30.8M 990 PDF
FY2020 $4.8M$3.4M$1.4M$21.4M 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
See the full FY2024 990 (6 parts)
Part I · Summary $5,120,345 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,700,020$4,064,653
I-9 Program service revenue$0
I-10 Investment incomePrior year $585,023$1,129,266
I-11 Other revenuePrior year −$214,594−$73,574
I-12 Total revenuePrior year $3,070,449$5,120,345
I-13 Grants and similar amounts paidPrior year $579,781$3,358,523
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $594,568$1,144,344
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $529,421$1,068,648
I-18 Total expensesPrior year $1,703,770$5,571,515
I-19 Revenue less expensesPrior year $1,366,679−$451,170
Part VI · Governance 18 of 27 board members independent, no flags
VI-1a Voting members of the governing body27
VI-1b Independent voting members18
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,120,345 across 8 lines filed
VIII-1c Fundraising events$532,661
VIII-1f All other contributions, gifts and grants$3,531,992
VIII-1g Noncash contributions (included above)$377,644
VIII-1h Total contributions, gifts and grants$4,064,653
VIII-3 Investment incomeExcluded from tax $850,476$850,476
VIII-7 Net gain or loss on sales of assetsExcluded from tax $278,790$278,790
VIII-8 Net income from fundraising eventsExcluded from tax −$73,574−$73,574
VIII-12 Total revenueExcluded from tax $1,055,692$5,120,345
Part IX · Statement of functional expenses $5,571,515 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $3,229,851$3,229,851
IX-2 Grants to domestic individualsPrograms $128,672$128,672
IX-5 Pay of current officers, directors and key staffManagement $357,746$357,746
IX-7 Other salaries and wagesManagement $202,402 · Fundraising $363,317$565,719
IX-8 Pension plan contributionsManagement $5,100 · Fundraising $38,907$44,007
IX-9 Other employee benefitsManagement $92,801 · Fundraising $16,177$108,978
IX-10 Payroll taxesManagement $67,238 · Fundraising $656$67,894
IX-11f Investment management feesManagement $25,082$25,082
IX-12 Advertising and promotionManagement $13,550$13,550
IX-13 Office expensesManagement $13,095$13,095
IX-19 Conferences, conventions and meetingsManagement $30,394$30,394
IX-22 Depreciation, depletion and amortizationManagement $14,988$14,988
IX-24 Other expenses (24a–d)Management $971,539$971,539
IX-25 Total functional expensesPrograms $3,358,523 · Management $1,793,935 · Fundraising $419,057$5,571,515
Part X · Balance sheet $37,957,853 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $11,525,615$11,154,049
X-3 Pledges and grants receivableStart of year $1,632,520$1,599,893
X-9 Prepaid expenses and deferred chargesStart of year $4,500$35,119
X-10c Land, buildings and equipment, netStart of year $99,599$80,953
X-11 Publicly traded securitiesStart of year $22,727,331$25,087,839
X-16 Total assetsStart of year $36,271,217$37,957,853
X-17 Accounts payable and accrued expensesStart of year $62,769$195,481
X-19 Deferred revenueStart of year $41,560$3,500
X-25 Other liabilitiesStart of year $383,532$1,164,168
X-26 Total liabilitiesStart of year $487,861$1,363,149
X-27 Net assets without donor restrictionsStart of year −$3,257,938−$4,599,637
X-28 Net assets with donor restrictionsStart of year $39,041,294$41,194,341
X-32 Total net assets or fund balancesStart of year $35,783,356$36,594,704
X-33 Total liabilities and net assetsStart of year $36,271,217$37,957,853
Part XI · Reconciliation of net assets $36,594,704 net assets at year end
XI-1 Total revenue$5,120,345
XI-2 Total expenses$5,571,515
XI-3 Revenue less expenses−$451,170
XI-4 Net assets at start of year$35,783,356
XI-5 Net unrealized gains (losses) on investments$1,262,518
XI-10 Net assets at end of year$36,594,704

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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