2025-05-05T12:36:14-05:00 2024-06-30 331498605 PLANTE & MORAN PLLC 3000 TOWN CENTER SUITE 100 SOUTHFIELD MI 48075 990 2023-07-01 832236308 MSU HEALTH CARE INC MSUH 5173533143 909 WILSON RD 421 EAST LANSING MI 48824 KRISTINE ALLEN CHIEF ADMINISTRATIVE OFFICER 5173533143 2025-04-30 1 1 SAMANTHA L BECKER P01344887 2483522500 2025-04-01 2023 2025-03-06 01:10:19Z MACHELLE HOLANDA 909 WILSON RD 421 EAST LANSING MI 48824 120402304 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 FYE 2024, MSU HEALTH CARE PROVIDED OVER 400,000 ENCOUNTERS TO PATIENTS IN THE STATE OF MICHIGAN. 9 0 0 0 0 0 3320313 10783140 99741179 109246681 133438 363044 39976 9439 103234906 120402304 11500 10239 0 0 29732957 32685971 0 0 8697 76710892 93789944 106455349 126486154 -3220443 -6083850 43819384 42495868 22219505 26979839 21599879 15516029 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 0 111466117 10239 109246681 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. 111466117 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 35 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 MACHELLE HOLANDA 5173533025 909 WILSON RD 421 EAST LANSING MI 48824 ANDREA AMALFITANO VICE CHAIR - PART YEAR 0.50 59.50 X X 0 571924 50630 JOEL GREENBERG TREASURER 2.00 58.00 X X 0 480565 41133 LEIGH SMALL SECRETARY 1.00 59.00 X X 0 312008 46840 NORMAN BEAUCHAMP CHAIR 1.00 59.00 X X 0 793643 50630 ANN SHEEHAN DIRECTOR 0.50 59.50 X 0 164051 31362 ARON SOUSA VICE-CHAIR 1.00 59.00 X X 0 671900 50913 JED MAGEN DIRECTOR 2.00 58.00 X 0 325479 45650 LISA FRACE DIRECTOR 0.50 59.50 X 0 477030 44805 MICHAEL WEINER DIRECTOR 60.00 0.00 X 387957 0 26424 JOYCE DEJONG DIRECTOR 0.50 59.50 X 0 0 0 NATHAN TER BEEK CFO MSU HCI 60.00 0.00 X 235288 0 44794 SETH CIABOTTI CHIEF EXECUTIVE OFFICER 60.00 0.00 X 345990 0 50913 KRISTINE ALLEN CHIEF NURSING OFFICER 60.00 0.00 X 230532 0 41028 SANDRA CAMPBELL CHIEF PHARMACIST 50.00 0.00 X 165247 0 36371 COLLEEN HOFFMAN RADIOLOGY ADMINISTRATOR 50.00 0.00 X 171453 0 36047 CHRISTIE DAISS PHARMACIST 50.00 0.00 X 130701 0 21920 HOLLY PETERSON ASST RADIOLOGY ADMINISTRATOR 50.00 0.00 X 133067 0 32225 KAREN ROSS DIRECTOR OF FINANCE 50.00 0.00 X 135710 0 30371 ROGER JANSEN CHIEF STRATEGY OFFICER 25.00 0.00 X 145901 0 24618 2081846 3796600 706674 19 0 1 0 ATHENA HEALTH INC 311 ARSENAL ST WATERTOWN MA 02472 EHR & PRACT MGMT SOFTWARE 2146814 GEORGE F EYDE FAMILY LLC 300 S WASHINGTON SQUARE SUITE 400 LANSING MI 48933 RENTAL PROPERTY 1029578 EDWARD W SPARROW HOSPITAL ASSOCIATION 1215 E MICHIGAN AVE LANSING MI 48912 LEASED STAFF AND PROPERTY 898444 SEQUENCE HEALTH LLC 10 INVERNESS CENTER PARKWAY STE 60 BIRMINGHAM AL 35242 ANSWERING SERVICE 668911 GE PRECISION HEALTHCARE LLC 3000 GRANDVIEW WAUKESHA WI 53188 EQUIPMENT MAINTENANCE SERVICE 648655 18 10779140 4000 10783140 PATIENT SERVICES 621110 60931684 60931684 CONTRACT FEES 621110 20949676 20949676 PHARMACY REVENUE 621110 19564575 19564575 JOINT VENTURE INCOME 621110 3315883 3315883 PAY FOR PERFORMANCE 621110 3048852 3048852 1436011 1436011 109246681 363044 363044 9439 0 9439 9439 9439 120402304 109246681 0 372483 10239 10239 1373723 1373723 31208764 24761947 6446817 103484 24380 79104 323003 323003 132619 132619 3396961 2086626 1301638 8697 836509 12622 823887 672590 380589 292001 5773061 2500134 3272927 389711 333154 56557 73796 20556 53240 45009 12396 32613 616280 616280 50578903 50578903 3195398 2811737 383661 1714748 1714748 MEDICAL SUPPLIES 21946327 21946327 BAD DEBT EXPENSE 1396424 1396424 FURNITURE & EQUIPMENT M 1353121 913571 439550 INTERGOVERMENTAL TRANSF 1345484 1345484 126486154 111466117 15011340 8697 524164 520451 7975306 8258871 11798894 12660959 803678 624072 534376 242338 17310846 9743655 8461277 7567191 12206747 11422630 1514942 1199356 43819384 42495868 2054431 2482413 2000 5000 20163074 24492426 22219505 26979839 X 21599879 15516029 21599879 15516029 43819384 42495868 -6083850 0 X X 0 1 X 1 0 X 62226 7501152 3470334 3320313 10783140 25137165 242519 104049931 99398143 99741179 109246681 412678453 304745 111551083 102868477 103061492 120029821 437815618 7235117 1782523 3266854 10779140 23063634 237519 16051551 7869613 7506318 13579004 45244005 237519 23286668 9652136 10773172 24358144 68307639 369507979 975851 118320 193213 372483 1659867 975851 118320 193213 372483 1659867 3207203 5427910 8635113 304745 115734137 108414707 103254705 120402304 448110598 0.82460 0.00370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 699184 244353 454831 2052901 1345888 707013 14558761 8153414 6405347 7567191 LT INVESTMENTS - JOINT VENTURE 11422630 C 11422630 DUE TO RELATED PARTY 18404904 RIGHT TO USE LEASE OBLIGATIONS 5167582 ACCRUED INTEREST 23513 SUBSCRIPTION LIABILITIES 896427 24492426 119005885 0 119005885 1396419 1396419 120402304 125089735 0 125089735 1396419 1396419 126486154 PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 1,396,419. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 1,396,419. X X 0 0 0 0 0 0 0 0 0 NORMAN BEAUCHAMP CHAIR 0 691548 0 0 0 102095 0 33000 0 17630 0 844273 0 0 ARON SOUSA VICE-CHAIR 0 496900 0 0 0 175000 0 33000 0 17913 0 722813 0 0 ANDREA AMALFITANO VICE CHAIR - PART YEAR 0 471924 0 0 0 100000 0 33000 0 17630 0 622554 0 0 LISA FRACE DIRECTOR 0 467917 0 0 0 9113 0 33000 0 11805 0 521835 0 0 JOEL GREENBERG TREASURER 0 202398 0 0 0 278167 0 23503 0 17630 0 521698 0 0 MICHAEL WEINER DIRECTOR 52077 0 20000 0 315880 0 15540 0 10884 0 414381 0 0 0 SETH CIABOTTI CHIEF EXECUTIVE OFFICER 345990 0 0 0 0 0 33000 0 17913 0 396903 0 0 0 JED MAGEN DIRECTOR 0 249729 0 0 0 75750 0 30770 0 14880 0 371129 0 0 LEIGH SMALL SECRETARY 0 236288 0 0 0 75720 0 31960 0 14880 0 358848 0 0 NATHAN TER BEEK CFO MSU HCI 235288 0 0 0 0 0 24764 0 20030 0 280082 0 0 0 KRISTINE ALLEN CHIEF NURSING OFFICER 230532 0 0 0 0 0 24370 0 16658 0 271560 0 0 0 COLLEEN HOFFMAN RADIOLOGY ADMINISTRATOR 163049 0 8404 0 0 0 16017 0 20030 0 207500 0 0 0 SANDRA CAMPBELL CHIEF PHARMACIST 164147 0 475 0 625 0 16341 0 20030 0 201618 0 0 0 ANN SHEEHAN DIRECTOR 0 154051 0 0 0 10000 0 17381 0 13981 0 195413 0 0 ROGER JANSEN CHIEF STRATEGY OFFICER 145901 0 0 0 0 0 16719 0 7899 0 170519 0 0 0 KAREN ROSS DIRECTOR OF FINANCE 135330 0 380 0 0 0 13713 0 16658 0 166081 0 0 0 HOLLY PETERSON ASST RADIOLOGY ADMINISTRATOR 132687 0 380 0 0 0 12479 0 19746 0 165292 0 0 0 CHRISTIE DAISS PHARMACIST 130416 0 285 0 0 0 13967 0 7953 0 152621 0 0 0 PART I, LINE 3 CEO IS AN EMPLOYEE OF MICHIGAN STATE UNIVERSITY. HIS COMPENSATION AND BENEFITS ARE PAID BY MICHIGAN STATE UNIVERSITY. THE EXPENSE IS THEN ALLOCATED TO THE ORGANIZATION. 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 THE DISPOSITION OF THE CORPORATION'S ASSETS AS THE TIME OF THE CORPORATION'S DISSOLUTION, SUBJECT TO THE ARTICLES (H) 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 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