Jordan Ellis
The University of Michigan Health System, also known as Michigan Medicine, is a non-profit academic medical center and one of the largest hospitals in Michigan. As a non-profit entity, it is required to file an IRS Form 990 or 990-EZ. Michigan Health Corporation (MHC) is the legal entity that enables the health system to engage in partnerships, joint ventures, and other business activities. MHC supports the research, education, and clinical missions of the University of Michigan by facilitating health care initiatives that the University might not otherwise be able to pursue.
| Characteristics | Values |
|---|---|
| IRS Status | 501(c)(3) |
| Tax Filings | Available since 2001 |
| Executive Compensation | Available |
| Revenue and Expenses | Available |
| Legal Entity | Michigan Health Corp. |
Explore related products
What You'll Learn
Michigan Health Corporation is a non-profit entity
Michigan Health Corporation (MHC) is a non-profit entity that enables the University of Michigan to pursue healthcare initiatives and provides a vehicle for the university to participate in projects. As a non-profit, the MHC is required to file an IRS Form 990 or 990-EZ. The University of Michigan Health System, of which MHC is a part, is currently undergoing a strategic planning initiative to support the research, education, and clinical missions of the university.
The MHC is the legal entity that allows the health system to enter into partnerships, affiliations, joint ventures, and other business activities. It was established to pursue projects and initiatives in response to the dynamic environment of healthcare. This includes managed care initiatives and joint ventures that support the university's research, education, and clinical missions.
As a non-profit, the MHC is subject to certain regulations and must comply with ethical guidelines in its research activities. The organization's programs are designed to enable the university to pursue healthcare initiatives that it would not otherwise be able to undertake. The MHC also provides the university with more favourable vehicles to participate in projects.
The MHC is dedicated to advancing healthcare in Michigan and beyond through its discoveries and patient care. It has earned national recognition for its premier patient care and cutting-edge research, ranking among the best in the nation in various adult and pediatric specialties. As a non-profit entity, the MHC's focus is on delivering the Michigan Difference and improving lives through its healthcare initiatives.
Alex's Story: A Shriners Hospital Patient's Age and Journey
You may want to see also
Explore related products
It enables the University to pursue healthcare initiatives
The University of Michigan Health System, or Michigan Health Corporation (MHC), is a non-profit entity that enables the University to pursue healthcare initiatives. As a non-profit, MHC is required to file an IRS Form 990 or 990-EZ. The IRS has released data from over 1.8 million nonprofit tax filings, providing insight into executive compensation, revenue, expenses, and more.
MHC was established to facilitate projects, joint ventures, and managed care initiatives in healthcare. This enables the University to advance its research, education, and clinical missions. The dynamic and ever-changing nature of the healthcare industry requires a strategic and proactive approach, which is why MHC exists—to enable the University to pursue healthcare initiatives that it might not otherwise be able to undertake.
As the nation's largest public research university, the University of Michigan has the Office of the Vice President for Research (OVPR) to catalyze, support, and safeguard its research and scholarship activity. OVPR oversees various interdisciplinary units that collaborate with faculty, staff, students, and external partners to achieve these goals. This includes reviewing contracts for sponsored projects, ensuring compliance with regulations, and balancing the university's mission with the sponsor's objectives and the investigator's intellectual pursuits.
Michigan Medicine, a part of the University of Michigan Health System, is one of the largest hospitals in Michigan and a premier academic medical center. It delivers cutting-edge research and premier patient care, earning national recognition from hospital-quality organizations. Michigan Medicine's discoveries change care practices, and their care changes lives.
The legal structure of MHC allows the health system to enter into partnerships, affiliations, and joint ventures, enabling the University to actively shape and contribute to the evolving healthcare landscape.
Pancreatitis Treatment: Hospital Care and Management
You may want to see also
Explore related products
It supports the research, education, and clinical missions of the University
The University of Michigan Health System, renamed Michigan Medicine in 2017, works to transform lives through a combination of groundbreaking research, expert clinical care, and leading-edge medical and scientific education. As part of the University of Michigan, Michigan Medicine's brightest minds collaborate in a diverse environment to make bold advances in medical education, research, and patient care.
Michigan Medicine is one of the nation's top academic medical centers, bringing together world-class experts from research, patient care, and education to make groundbreaking discoveries that create life-changing medicine. The organization supports the research, education, and clinical missions of the University by enabling the University to pursue healthcare initiatives that it would not otherwise be able to, and by providing the University with more favorable vehicles to participate in projects.
Michigan Medicine's Rogel Cancer Center (formerly Comprehensive Cancer Center) was founded in 1986 and includes cancer research and clinical care. The cancer center building, which opened in 1997, features four floors dedicated to outpatient cancer care and six floors for cancer research laboratories. In 2006, the center received $82.5 million in research funding, making it one of the top recipients of National Cancer Institute (NCI) research awards in the United States.
The W.K. Kellogg Eye Center, established in 1985, is home to the University of Michigan Department of Ophthalmology and Visual Sciences, with 64 clinical faculty and 21 research faculty. The Kellogg Eye Center has community clinics in several locations across Michigan, including Ann Arbor, Brighton, and Livonia. Eye Center residents also staff the VA Ophthalmology Clinic at the Veterans Affairs Hospital in Ann Arbor.
Michigan Medicine's C.S. Mott Children's and Von Voigtlander Women's Hospital employs about 4,000 people and is currently in the process of hiring 500 more following a recent hospital expansion. Overall, Michigan Medicine has around 30,000 employees, including about 3,900 faculty, 6,000 nurses, 1,800 residents, and 300 clinical fellows.
The University of Michigan, as the nation's largest public research university, has an Office of the Vice President for Research (OVPR) that aims to catalyze, support, and safeguard research and scholarship activity. The OVPR oversees various interdisciplinary units that collaborate with faculty, staff, students, and external partners to support research and scholarship.
Diapers for Delivery: How Many to Pack?
You may want to see also
Explore related products
It is required to file an IRS Form 990 or 990-EZ
The University of Michigan Health System is required to file an IRS Form 990 or 990-EZ. This requirement is part of a Health System-wide strategic planning initiative, which was established to pursue projects, joint ventures, and managed care initiatives that support the research, education, and clinical missions of the University.
Form 990 and Form 990-EZ are both used by tax-exempt organizations to report their annual financial information to the IRS. Form 990-EZ is a shorter version of Form 990 and is used by smaller organizations. These forms provide the IRS with information required by Section 6033, which pertains to the reporting requirements of exempt organizations.
Small tax-exempt organizations with annual gross receipts of $50,000 or less can satisfy their reporting requirements by submitting Form 990-N (e-Postcard) instead of Form 990 or 990-EZ. However, some organizations are not eligible to use Form 990-N, even if their gross receipts are below the $50,000 threshold. These organizations must file Form 990 or 990-EZ to satisfy their annual reporting requirements.
It is important for organizations to remain compliant with their filing requirements. Failing to file the required forms for three consecutive years will result in the automatic revocation of an organization's tax-exempt status. Therefore, organizations like the University of Michigan Health System must ensure they are aware of and adhere to their specific filing obligations.
Hospitality or Retail: What's the Hotel Industry?
You may want to see also
Explore related products
It is one of the largest hospitals in Michigan
The University of Michigan Health System, also known as Michigan Medicine, is one of the largest hospitals in Michigan. It is also a premier academic medical centre, recognised nationally for its excellence in a broad range of adult and pediatric specialties. Michigan Medicine is made up of the Michigan Health Corporation, which is a legal entity that enables the health system to enter into partnerships and joint ventures.
Michigan Health Corporation (MHC) was established to pursue projects and initiatives that support the research, education, and clinical missions of the University. This includes enabling the University to pursue healthcare initiatives that it would otherwise be unable to undertake. As such, MHC is an essential component of the University of Michigan Health System's ability to function as one of the largest hospitals in the state.
As one of the nation's largest public research universities, the University of Michigan has a dedicated Office of the Vice President for Research (OVPR). OVPR aims to catalyze, support, and safeguard research and scholarship activity. It oversees a range of interdisciplinary units that collaborate with faculty, staff, students, and external partners to achieve these goals. The office also manages pre-award and some post-award research activity, reviewing contracts for sponsored projects and ensuring compliance with ethical guidelines and specific regulations governing certain types of research.
The University of Michigan Health System is currently undergoing a strategic planning initiative as part of its commitment to remaining at the forefront of healthcare in the state and the nation. This initiative involves various units and offices within the University, including the OVPR and MHC, working together to support the health system's research, educational, and clinical missions. As a large hospital, the University of Michigan Health System recognises the importance of staying agile and responsive to the dynamic environment of healthcare.
Mercy Hospital: Exploring the Existence of a Psych Ward
You may want to see also
Frequently asked questions
Yes, the University of Michigan Health System is a 501(c)(3) non-profit organisation.
The University of Michigan Health System is also known as Michigan Medicine. It is one of the largest hospitals in Michigan and a premier academic medical centre.
Michigan Health Corp. is the legal entity that allows the health system to enter into partnerships, affiliations, joint ventures and other business activities.
Michigan Health Corporation was established to pursue projects, joint ventures and managed care initiatives in response to the dynamic environment of healthcare.
The IRS has released data from over 1.8 million nonprofit tax filings, including that of the University of Michigan Hospital.
