2024-05-08T16:50:58-05:00 2023-06-30 381357951 PLANTE & MORAN PLLC 3000 TOWN CENTER SUITE 100 SOUTHFIELD MI 48075 990 2022-07-01 832236308 MSU HEALTH CARE INC MSUH 5173533143 909 WILSON RD 421 EAST LANSING MI 48824 SETH CIABOTTI CEO 5173533143 2024-05-07 1 SETH CIABOTTI 999009999 0 DAVID LOWENTHAL P00378651 2483522500 2024-05-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z NATHAN TER BEEK 909 WILSON RD 421 EAST LANSING MI 48824 103254705 0 X WWW.HEALTHCARE.MSU.EDU X 2018 MI MISSION IS TO DELIVER A PERSONALIZED EXPERIENCE; PROVIDE A SAFE ENVIRONMENT; TRAIN THE NEXT GENERATION OF CLINICIANS; ENSURE EQUITABLE ACCESS; AND OFFER THE HIGHEST QUALITY CARE.MSU HEALTH CARE AS THE CLINICAL ENTERPRISE OF MICHIGAN STATE UNIVERSITY'S HUMAN HEALTH COLLEGES' FOCUS IS TO PROVIDE HEALING AND CARING, FORM JOINT VENTURES AND PARTNERSHIPS AND LEVERAGE OUR EXPANSIVE CLINICAL RESEARCH AND EXPERT EDUCATIONAL STRENGTHS FOR OUR PATIENTS.WE REMAIN DEDICATED TO THE LAND-GRANT MISSION AND VALUES OF MSU, A MEMBER OF THE ASSOCIATION OF AMERICAN UNIVERSITIES AND A TOP 100 RESEARCH INSTITUTION.MSU HEALTH CARE WAS FORMED TO: - FOCUS ON HEALING AND CARING - FORM JOINT VENTURES AND PARTNERSHIPS - LEVERAGE OUR CLINICAL, RESEARCH AND EDUCATION STRENGTHSDURING FY2023, MSU HEALTH CARE PROVIDED OVER 396,000 ENCOUNTERS TO PATIENTS IN THE STATE OF MICHIGAN. 9 0 0 0 0 0 3470334 3320313 99398143 99741179 93912 133438 5467498 39976 108429887 103234906 14500 11500 0 0 28514325 29732957 0 0 28622 84119467 76710892 112648292 106455349 -4218405 -3220443 41673304 43819384 16852982 22219505 24820322 21599879 X WE DELIVER A PERSONALIZED EXPERIENCE; WE PROVIDE A SAFE ENVIRONMENT; WE TRAIN THE NEXT GENERATION OF CLINICIANS; WE ENSURE EQUITABLE ACCESS; WE OFFER THE HIGHEST QUALITY CARE 0 1 94607013 11500 99741179 MSU HEALTH CARE IS A 501(C)(3) NON-PROFIT CORPORATION CREATED TO BE THE CLINICAL ENTERPRISE OF MICHIGAN STATE UNIVERSITY'S COLLEGE OF HUMAN MEDICINE, COLLEGE OF NURSING AND COLLEGE OF OSTEOPATHIC MEDICINE. OUR FOCUS IS TO PROVIDE HEALING AND CARING, FORM JOINT VENTURES AND PARTNERSHIPS AND LEVERAGE OUR EXPANSIVE CLINICAL RESEARCH AND EXPERT EDUCATIONAL STRENGTHS FOR OUR PATIENTS. WE REMAIN DEDICATED TO THE LAND-GRANT MISSION AND VALUES OF MSU, A MEMBER OF THE ASSOCIATION OF AMERICAN UNIVERSITIES AND A TOP 100 RESEARCH INSTITUTION. 94607013 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 48 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 0 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 1 1 MI X NATHAN TER BEEK 5173533143 909 WILSON RD 421 EAST LANSING MI 48824 X ANDREA AMALFITANO VICE CHAIR 0.25 59.75 X X 0 546178 47145 JOEL GREENBERG TREASURER 0.25 59.75 X X 0 512418 39863 LEIGH SMALL SECRETARY 0.25 59.75 X X 0 270566 41463 NORMAN BEAUCHAMP CHAIR 0.25 59.75 X X 0 775265 46861 ANDREW ZWYGHUIZEN DIRECTOR (PART YEAR) 0.25 59.75 X 0 408022 30848 ANN SHEEHAN DIRECTOR 0.25 59.75 X 0 131863 27298 ARON SOUSA DIRECTOR 0.25 59.75 X 0 618293 47145 JED MAGEN DIRECTOR 0.25 59.75 X 0 326808 44584 LISA FRACE DIRECTOR 0.25 59.75 X 0 469800 41765 SRINIVAS KAVUTURU DIRECTOR 0.25 59.75 X 0 502778 35766 NATHAN TER BEEK CFO MSU HCI 60.00 0.00 X 0 184475 29882 SETH CIABOTTI CEO MSU HCI 60.00 0.00 X 381262 0 47145 COLLEEN HOFFMAN RADIOLOGY ADMINISTRATOR 50.00 0.00 X 165062 0 30308 KRISTINE ALLEN CHIEF NURSING OFFICER 50.00 0.00 X 225678 0 33575 CHRISTIE DAISS PHARMACIST 50.00 0.00 X 126472 0 17693 HOLLY PETERSON RADIOLOGY ADMINISTRATOR 50.00 0.00 X 128831 0 27431 KAREN ROSS FINANCE DIRECTOR 50.00 0.00 X 122944 0 24839 NICOLE GARGANO PHARMACIST 50.00 0.00 X 110683 0 27628 SANDRA CAMPBELL CHIEF PHARMACIST 50.00 0.00 X 157988 0 11831 ANNETTE CAWLEY FORMER CFO/CONSULTANT 60.00 0.00 X 182780 0 8906 1601700 4746466 661976 13 1 1 0 ATHENA HEALTH INC 311 ARSENAL ST WATERTOWN MA 02472 EHR & PRACT MGMT SOFTWARE 2177779 GEORGE F EYDE FAMILY LLC 300 S WASHINGTON SQUARE SUITE 400 LANSING MI 48933 RENTAL PROPERTY 2097602 EDWARD W SPARROW HOSPITAL ASSOCIATION 1215 E MICHIGAN AVE LANSING MI 48912 LEASED STAFF AND PROPERTY 1495990 GE PRECISION HEALTHCARE LLC 3000 GRANDVIEW WAUKESHA WI 53188 EQUIPMENT MAINTENANCE SERVICE 1204366 SEQUENCE HEALTH LLC 10 INVERNESS CENTER PARKWAY STE 60 HOOVER AL 35242 ANSWERING SERVICE 449279 17 3266854 53459 1390952 3320313 PATIENT SERVICES 621110 61484544 61484544 PHARMACY REVENUE 621110 17162269 17162269 CONTRACT FEES 621110 16092912 16092912 PAY FOR PERFORMANCE 621110 2118906 2118906 JOINT VENTURE INCOME 621110 1264099 1264099 1618449 1618449 99741179 153237 153237 39976 0 39976 39976 39976 19799 -19799 -19799 -19799 103234906 99741179 0 173414 11500 11500 1244833 1244833 28403861 22124071 6279790 84263 20673 63590 394470 394470 149067 149067 3292175 1599630 1663923 28622 946870 63133 883737 628651 452942 175709 5577691 5337478 240213 450257 427503 22754 52384 17352 35032 51020 9580 41440 183558 183558 36090158 36052207 37951 3217780 2698497 519283 1618372 1618372 MEDICAL SUPPLIES 18789877 18789877 FURNITURE & EQUIPMENT M 2294655 2226733 67922 BAD DEBT EXPENSE 1522764 1522764 INTERGOVERMENTAL TRANSF 1451143 1451143 106455349 94607013 11819714 28622 95032 524164 16932572 7975306 10717920 11798894 757283 803678 412566 534376 15254300 6793023 8082641 8461277 3646060 12206747 1029230 1514942 41673304 43819384 1662952 2054431 0 2000 15190030 20163074 16852982 22219505 X 24820322 21599879 24820322 21599879 41673304 43819384 -3220443 0 X X 0 1 X 1 1 1 X 6500000 62226 7501152 3470334 3320313 20854025 242519 104049931 99398143 96292854 299983447 6500000 304745 111551083 102868477 99613167 320837472 6500000 7235117 1782523 3266854 18784494 237519 16051551 7869613 24158683 6500000 237519 23286668 9652136 3266854 42943177 277894295 2120 975851 118320 193213 1289504 2120 975851 118320 193213 1289504 3207203 5427910 3448326 12083439 6502120 304745 115734137 108414707 103254706 334210415 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 617957 127093 490864 1919453 1061674 857779 12716890 5604256 7112634 8461277 LT INVESTMENTS - JOINT VENTURE 12206747 C 12206747 DUE TO RELATED PARTY 13248345 RIGHT TO USE LEASE OBLIGATIONS 6589627 ACCRUED INTEREST 25556 SUBSCRIPTION LIABILTIES 299546 20163074 101680996 0 101680996 1553910 1553910 103234906 104901439 0 104901439 1553910 1553910 106455349 PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 1,522,764. OTHER REVENUE RECLASSIFICATION 31,146. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 1,522,764. OTHER REVENUE RECLASSIFICATION 31,146. 1 IZZO LEGACY 1111 MICHIGAN AVE EAST LANSING MI 48823 834132225 501(C)(3) 10000 0 N/A N/A SUPPORT FOR 2023 IZZO LEGACY RACE 1 0 PART I, LINE 2: OUR MARKETING DEPARTMENT, WHICH IS RESPONSIBLE FOR THE SPONSORSHIP, CONFIRMS THAT THE LEVEL OF SPONSORSHIP IS APPROPRIATE FOR THE RECOGNITION RECEIVED. X X 0 0 0 0 0 0 0 1 0 NORMAN BEAUCHAMP CHAIR 0 650706 0 16000 0 108559 0 30500 0 16361 0 822126 0 0 ARON SOUSA DIRECTOR 0 442479 0 22064 0 153750 0 30500 0 16645 0 665438 0 0 ANDREA AMALFITANO VICE CHAIR 0 430178 0 116000 0 0 0 30500 0 16645 0 593323 0 0 JOEL GREENBERG TREASURER 0 191916 0 290502 0 30000 0 23502 0 16361 0 552281 0 0 SRINIVAS KAVUTURU DIRECTOR 0 60552 0 326358 0 115868 0 19121 0 16645 0 538544 0 0 LISA FRACE DIRECTOR 0 445707 0 15415 0 8678 0 30500 0 11265 0 511565 0 0 ANDREW ZWYGHUIZEN DIRECTOR (PART YEAR) 0 31431 0 197777 0 178814 0 21138 0 9710 0 438870 0 0 SETH CIABOTTI CEO MSU HCI 332112 0 49150 0 0 0 30500 0 16645 0 428407 0 0 0 JED MAGEN DIRECTOR 0 235641 0 41167 0 50000 0 30769 0 13815 0 371392 0 0 LEIGH SMALL SECRETARY 0 195429 0 11917 0 63220 0 27648 0 13815 0 312029 0 0 KRISTINE ALLEN CHIEF NURSING OFFICER 224178 0 1500 0 0 0 18127 0 15448 0 259253 0 0 0 NATHAN TER BEEK CFO MSU HCI 0 184475 0 0 0 0 0 15940 0 13942 0 214357 0 0 COLLEEN HOFFMAN RADIOLOGY ADMINISTRATOR 155427 0 9635 0 0 0 11719 0 18589 0 195370 0 0 0 ANNETTE CAWLEY FORMER CFO/CONSULTANT 98354 0 1833 0 82593 0 3757 0 5149 0 191686 0 0 0 SANDRA CAMPBELL CHIEF PHARMACIST 155073 0 1880 0 1035 0 11831 0 0 0 169819 0 0 0 ANN SHEEHAN DIRECTOR 0 114712 0 7151 0 10000 0 13961 0 13337 0 159161 0 0 HOLLY PETERSON RADIOLOGY ADMINISTRATOR 120914 0 7917 0 0 0 9126 0 18305 0 156262 0 0 0 PART I, LINE 7 BONUSES WERE AWARDED TO STAFF AS A SIGN OF APPRECIATION FOR EFFORTS MADE DURING COVID. X MEDICAL EQUIPMENT 2 1390952 FMV/ESTIMATE 0 0 0 0 PART I, COLUMN (B): THE NUMBER LISTED IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART III, LINE 3 MSU HEALTH CARE TRANSITIONED RADIOLOGY SERVICES TO A JOINT VENTURE WITH MCLAREN GREATER LANSING CALLED SPARTAN IMAGING, WHICH IS ALSO A 501(C)(3). FORM 990, PART VI, SECTION A, LINE 6 THE BOARD OF TRUSTEES OF MICHIGAN STATE UNIVERSITY IS THE SOLE MEMBER OF MSU HEALTH CARE, INC. FORM 990, PART VI, SECTION A, LINE 7A THE CORPORATE MEMBER SHALL HAVE SUCH RIGHTS AND POWERS AS ARE PROVIDED IN THE ARTICLES, THE BYLAWS, AND THE LAWS OF THE STATE OF MICHIGAN, INCLUDING THE FOLLOWING POWERS: (A) TO AMEND THE ARTICLES AND/OR THE BYLAWS; (B) THE APPOINT OR REMOVE, WITH OR WITHOUT CASE, ANY DIRECTOR OF THE CORPORATION, AS DESCRIBED HEREIN; (C) TO VOTE ON ALL MATTERS IN WHICH THE VOTE OF MEMBERS WITH VOTING RIGHTS IS REQUIRED UNDER THE ARTICLES, THE BYLAWS, OR THE LAWS OF THE STATE OF MICHIGAN; (D) TO APPROVE THE CORPORATION'S MERGER, DISSOLUTION, CONSOLIDATED, OR REORGANIZATION; (E) TO APPROVE THE ACQUISITION, SALE, LEASE, TRANSFER, OR OTHER ALIENATION OF THE MAJORITY OF THE CORPORATION'S ASSETS, OTHER THAN IN THE USUAL AND REGULAR COURSE OF THE CORPORATION'S BUSINESS; (F) TO APPROVE THE INDEBTEDNESS OF THE CORPORATION IN EXCESS OF 20% OF THE ANNUAL BUDGET OF THE CORPORATION; (G) TO APPROVE NON-BUDGETED EXPENDITURES IN EXCESS OF 10% OF THE ANNUAL BUDGET OF THE CORPORATION (H) TO APPROVE THE DISPOSITION OF THE CORPORATION'S ASSETS AS THE TIME OF THE CORPORATION'S DISSOLUTION, SUBJECT TO THE ARTICLES (I) TO APPROVE THE CORPORATION ENTERING INTO ANY JOINT VENTURES OR CREATING ANY SUBSIDIARY ORGANIZATIONS WITH A CAPITAL COMMITMENT GREATER THAN $10 MILLION DOLLARS; AND (J) TO APPROVE CHANGES IN THE CORPORATION'S MISSION OR PHILOSOPHY POWERS THAT ARE NOT RESERVED TO THE CORPORATE MEMBER OR OTHERWISE DELEGATED BY THE BOARD OF DIRECTORS SHALL BE EXERCISED BY THE CORPORATION'S BOARD OF DIRECTORS, SUBJECT TO THE LIMITATIONS CONTAINED IN THE ARTICLES, THE BYLAWS, AND APPLICABLE LAW. AMONG SUCH POWERS, THE BOARD OF DIRECTORS SHALL HAVE AUTHORITY TO DISCUSS, VOTE UPON, AND PRESENT ANY OF THE ABOVE MATTER TO THE CORPORATE MEMBER FOR ITS APPROVAL. FORM 990, PART VI, SECTION A, LINE 7B SEE LINE 7A EXPLANATION FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTANT, REVIEWED AND APPROVED BY THE AUDIT COMMITTEE AND CFO, AND PROVIDED TO THE BOARD PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR AND PRINCIPAL OFFICER SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE CORPORATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. THE INTERESTED PERSON SHALL THEN LEAVE THE BOARD OF DIRECTORS MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF A CONFLICT OF INTEREST EXISTS, THE CHAIRPERSON SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT TO DETERMINE WHETHER THE CORPORATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE, AND IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. FAILURE TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST SHALL RESULT IN APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S EMPLOYMENT AND COMPENSATION PLAN WERE APPROVED BY THE BOARD OF TRUSTEES OF MICHIGAN STATE UNIVERSITY, A RELATED ORGANIZATION. ANY RAISES GIVEN (OUTSIDE OF THE ANNUAL UNIVERSITY-WIDE INCREASE) ARE BASED UPON AN EXTERNAL SURVEY OF COMPENSATION. SIMILAR SURVEY DATA IS USED FOR MSU HEALTH CARE INC. BOARD OF DIRECTORS WHO ARE ALSO MSU DEANS AND DEPARTMENT CHAIRS. COMPENSATION FOR KEY EMPLOYEES IS BASED ON ANNUAL EVALUATIONS AND UNION CONTRACTS. ALL RAISES ARE APPROVED BY THE CEO. ANY RAISES OVER 10% ARE REQUIRED TO BE APPROVED BY THE EXECUTIVE VICE PRESIDENT OF HEALTH SCIENCES FOR MICHIGAN STATE UNIVERSITY. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, LINE 1B THE BOARD DOES NOT HAVE ANY INDEPENDENT DIRECTORS BECAUSE THEY ARE ALL COMPENSATED BY A RELATED ORGANIZATION, BUT ULTIMATELY THE ORGANIZATION IS CONTROLLED BY THE SOLE MEMBER, ANOTHER 501(C)(3), WHICH DOES HAVE AN INDEPENDENT BOARD. FORM 990, PART VII, LINE 14 A PORTION OF ANNETTE CAWLEY'S COMPENSATION AS REPORTED ON PART VII, COLUMN D, RELATES TO HER SERVICES AS CFO AND A PORTION RELATES TO ADVISORY SERVICES PROVIDED AFTER SHE TERMED AS CFO. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. MICHIGAN STATE UNIVERSITY 426 AUDITORIUM ROAD EAST LANSING MI 48824 386005984 EDUCATION MI 501(C)(3) LINE 2 N/A 0 LYSANDER SERIES OF AESIR SERIES LLC 1327 ASHLEY RIVER ROAD BLDG C STE 2 CHARLESTON SC 29407 830915942 RISK MANAGEMENT DE N/A C 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1