MYMICHIGAN HEALTH
Income Statement
Fiscal Year Start:
Jul 1
Revenues in 2024
$296,002,398
Investments
62%
Program Services
37%
Other
<1%
Government Grants
<1%
Contributions
0%
Fundraising Events
0%
Membership Dues
0%
Expenses in 2024
$114,866,512
Salaries & Benefits
51%
Fees to Service Providers
36%
Depreciation
7%
Offices, Occupancy & IT
3%
Advertising & Promotion
2%
Other
<1%
Grants
<1%
Benefits to Members
0%
Interest
0%
Revenues
2023
2024
Change
Contributions
$0
$0
-
Government Grants
$0
$571,521
-
Fundraising Events
$0
$0
-
Program Services
$98,760,159
$109,911,158
+11%
Membership Dues
$0
$0
-
Investments
$112,317,560
$183,942,532
+64%
Other
$3,804,797
$1,577,187
-59%
Total Revenues
$214,882,516
$296,002,398
+38%
Expenses
2023
2024
Change
Grants
$180,550
$161,231
-11%
Benefits to Members
$0
$0
-
Salaries & Benefits
$50,370,078
$58,761,717
+17%
Fees to Service Providers
$36,618,611
$40,984,356
+12%
Advertising & Promotion
$2,702,756
$2,334,630
-14%
Offices, Occupancy & IT
$2,935,913
$3,306,179
+13%
Interest
$0
$0
-
Depreciation
$7,414,520
$8,400,424
+13%
Other
$690,509
$917,975
+33%
Total Expenses
$100,912,937
$114,866,512
+14%
Net income
2023
2024
Change
Net income
+$113,969,579
+$181,135,886
+59%
Functional Expenses
Summary
2023
2024
Change
Program
$76,434,776
$87,686,327
+15%
Admin
$24,478,161
$27,180,185
+11%
Fundraising
$0
$0
-
Total Expenses
$100,912,937
$114,866,512
+14%
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