BAYSTATE FRANKLIN MEDICAL CENTER

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1895

Legal Domicile

Principal Officer

LAURIE MARTIN

Phone

4137940000

Tax Period

2023-10-01 to 2024-09-30

BAYSTATE FRANKLIN MEDICAL CENTER, founded in 1895, is a major nonprofit in the Health Care sector that reported $141.1M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $133.2M left a modest 6% surplus.

Mission

THE MISSION OF THE ORGANIZATION IS TO IMPROVE THE HEALTH OF THE PEOPLE IN OUR COMMUNITIES EVERY DAY, WITH QUALITY AND COMPASSION.

Program Service Accomplishments

Program 1

Expenses: $47,113,008 Revenue: $46,302,929

INPATIENT HEALTHCARE SERVICES - PROVIDING INPATIENT COMMUNITY-BASED MEDICINE AND TERTIARY CARE TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY...

INPATIENT HEALTHCARE SERVICES - PROVIDING INPATIENT COMMUNITY-BASED MEDICINE AND TERTIARY CARE TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE FRANKLIN MEDICAL CENTER PROVIDED 20,538 PATIENT DAYS OF INPATIENT SERVICES, WITH 4,988 DISCHARGES.

Program 2

Expenses: $47,345,383 Revenue: $53,901,680

OUTPATIENT HEALTHCARE SERVICES - PROVIDING OUTPATIENT CLINICAL SERVICES TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE...

OUTPATIENT HEALTHCARE SERVICES - PROVIDING OUTPATIENT CLINICAL SERVICES TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE FRANKLIN MEDICAL CENTER HAD 92,499 OUTPATIENT VISITS.

Program 3

Expenses: $11,706,303 Revenue: $17,410,107

EMERGENCY DEPARTMENT SERVICES - PROVIDING EMERGENCY DEPARTMENT SERVICES TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE...

EMERGENCY DEPARTMENT SERVICES - PROVIDING EMERGENCY DEPARTMENT SERVICES TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE FRANKLIN MEDICAL CENTER HAD 26 473 EMERGENCY DEPARTMENT VISITS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,733,797

Program Service Revenue $123,749,254

Investment Income $2,271,681

Other Revenue $13,316,411

TOTAL REVENUE $141,071,143

Expense Breakdown

Grants Paid $12,407

Salaries & Benefits $53,370,626

Fundraising Expenses $0

Program Expenses $123,064,239

Other Expenses $79,804,349

TOTAL EXPENSES $133,187,382

Year-over-Year Comparison

	2023	2022	Change
Revenue	$141,071,143	$128,542,033	+0.1%
Expenses	$133,187,382	$128,158,279	+0.0%
Net Income	$7,883,761	$383,754	+19.5%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

904

Volunteers

219

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,244,747

Total Directors

$5,276,713

Key Employees

$667,060

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK A KEROACK MD	TRUSTEE (THRU 6/3/24)/PRESIDENT & CEO - BH	1.00	Director	$0	$44,265	$2,758,272
NICOLAS JABBOUR MD	TRUSTEE (AS OF 1/1/24)/CHAIR DEPT. OF SURGERY	1.00	Director	$0	$56,490	$1,083,422
KEVIN P MORIARTY MD	TRUSTEE (THRU 12/31/23)/CHIEF PED SURGERY	5.00	Director	$772,803	$54,493	$827,296
THAMPI AMPADI MD	TRUSTEE /SURGEON COMM PRAC	50.00	Director	$413,422	$54,115	$467,537
AKINYELE K LOVELACE DO	TRUSTEE/PER DIEM INTERNIST	1.00	Director	$102,600	$4,617	$107,217
SARA ROURKE MD	TRUSTEE/PER DIEM URGENT CARE PHYSICIAN	1.00	Director	$31,250	$1,719	$32,969
COLLEEN W HOLMES	VICE CHAIR/TRUSTEE	1.00	Officer Director	$0	$0	$0
HARRIET A DEVERRY	CHAIR/TRUSTEE	1.00	Officer Director	$0	$0	$0
PETER D BANKO	TRUSTEE (AS OF 6/4/24)/PRESIDENT & CEO - BH	1.00	Officer Director	$0	$0	$0
ANTONIO E DOS SANTOS	TRUSTEE	1.00	Director	$0	$0	$0
CLAUDIA R COPLEIN DO	TRUSTEE	1.00	Director	$0	$0	$0
DENISE R JORDAN	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH CARDONA	TRUSTEE (THRU 12/31/23)	1.00	Director	$0	$0	$0
IRENE RODRIGUEZ-MARTIN	TRUSTEE	1.00	Director	$0	$0	$0
JAMES R PHANEUF	TRUSTEE (THRU 12/31/23)	1.00	Director	$0	$0	$0
JULIE QUINK	TRUSTEE (AS OF 1/1/24)	1.00	Director	$0	$0	$0
LINDA THOMPSON	TRUSTEE	1.00	Director	$0	$0	$0
MADELINE LANDRAU	TRUSTEE (AS OF 1/1/24)	1.00	Director	$0	$0	$0
MARIA P GONCALVES	TRUSTEE	1.00	Director	$0	$0	$0
MARK A O'CONNELL	TRUSTEE	1.00	Director	$0	$0	$0
PAUL C PICKNELLY	TRUSTEE	1.00	Director	$0	$0	$0
PAUL R MURPHY	TRUSTEE (THRU 12/31/23)	1.00	Director	$0	$0	$0
RICHARD BOSSIE	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT J BACON	TRUSTEE	1.00	Director	$0	$0	$0
RUTH H CONSTANTINE	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM R WEBBER	TRUSTEE	1.00	Director	$0	$0	$0
RAYMOND MCCARTHY	TRUSTEE/SVP, CFO & TREASURER BH	5.00	Officer	$0	$29,919	$1,211,162
RONALD P BRYANT	TRUSTEE/PRESIDENT, BH COMM HOSPITALS	16.00	Officer	$0	$49,163	$739,549
KRISTIN R DELANEY	CLERK/DIR CORP GOVERNANCE	1.00	Officer	$0	$40,432	$217,312
NANCY REMILLARD	ASST. CLERK OF THE CORP	1.00	Officer	$0	$13,612	$76,724
DEBORAH A PROVOST	VP CAO CNO BFMC/CRO BH	25.00	Key Emp	$0	$48,695	$386,361
JANICE MAYFORTH	CFO - REGIONAL COMMUNITY HOSPITALS	15.00	Key Emp	$0	$42,043	$280,699
OLGA TARAN	REGISTERED NURSE	50.00	Highest	$242,429	$33,660	$276,089
LORENE ZAMMUTO	DIR BEHAV. HEALTH- RN (THRU 7/25/24)	50.00	Highest	$234,289	$36,614	$270,903
JENNI L LANOUE	DIR PATIENT CARE SVCS	50.00	Highest	$187,961	$38,182	$226,143
JILL E POWELL-ARTUS	MANAGER, NURSING	50.00	Highest	$156,815	$37,976	$194,791
KYMBERLI MITCHELL	RN CASE MANAGER	50.00	Highest	$183,807	$9,965	$193,772

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$141,071,143	$133,187,382	$89,670,921	$7,883,761
2023	$128,542,033	$128,158,279	$84,508,876	$383,754
2022	$112,261,715	$120,619,701	$80,099,902	$-8,357,986
2021	$107,787,892	$109,411,510	$102,999,130	$-1,623,618
2020	$102,019,790	$102,665,667	$109,064,540	$-645,877
2019	$106,105,552	$104,175,086	$91,384,626	$1,930,466
2018	$102,456,832	$100,778,736	$92,638,303	$1,678,096