Blue Cross and Blue Shield of Michigan Foundation

Analysis

Blue Cross and Blue Shield of Michigan Foundation is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in November 1981, 45 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Blue Cross and Blue Shield of Michigan Foundation reported income of $1.1m and spending of $3.2m, spending 291% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $440k to $1.1m (+154%), an average of +26% a year. The sharpest change came in the year to December 2021, when income rose by 4037%. Over the whole period it spent 87% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Blue Cross and Blue Shield of Michigan Foundation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within MI. Charities of a similar size with the same main cause include Loveway Incorporated ($1.1m), Convalescent Aid Society ($1.1m) and Chicago Coalition to Save Our Mental Health Centers ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.6% of the total. Compensation of current officers, directors and key employees was $1.4m (44% of expenses). Other salaries and wages came to $13k. At year end it held assets of $55.0m against liabilities of $1.8m, net assets of $53.3m.