BAYSTATE HEALTH INC

EIN: 042105941 501(c)(3) Health Care

SPRINGFIELD, MA

Total Revenue
$27,341,162
Total Expenses
$22,646,097
Total Assets
$260,600,991
Net Assets
$113,446,586
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Organization Details

Formation Year
1983
Legal Domicile
MA
Principal Officer
JENNIFER NICHOLS
Phone
4137940000
Tax Period
2023-10-01 to 2024-09-30

BAYSTATE HEALTH INC, founded in 1983, is a mid-sized nonprofit in the Health Care sector that reported $27.3M in total revenue in fiscal year 2023. The organization ran a surplus of $4.7M, a strong 17% operating margin.

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: $15,547,786 Revenue: $9,539,633

BAYSTATE HEALTH, INC. (BAYSTATE HEALTH OR BH) BASED IN SPRINGFIELD, MASSACHUSETTS IS THE PARENT CORPORATION OF AN INTEGRATED HEALTH CARE DELIVERY SYSTEM WITH THE MISSION "TO IMPROVE THE HEALTH OF THE...

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BAYSTATE HEALTH, INC. (BAYSTATE HEALTH OR BH) BASED IN SPRINGFIELD, MASSACHUSETTS IS THE PARENT CORPORATION OF AN INTEGRATED HEALTH CARE DELIVERY SYSTEM WITH THE MISSION "TO IMPROVE THE HEALTH OF THE PEOPLE IN OUR COMMUNITY EVERY DAY, WITH QUALITY AND COMPASSION." BH PROVIDES FUNDING FOR STRATEGIC INITIATIVES, AS NECESSARY, FUNDING FOR RESEARCH & EDUCATION INITIATIVES AND SUPPORT OF COMMUNITY HEALTH, DEVELOPMENT, AND OUTREACH ACTIVITIES, MOSTLY FUNDED BY BH BOARD-DESIGNATED FUNDS. PUBLIC HEALTH INSTITUTE OF WESTERN MASSACHUSETTS, FORMERLY PARTNERS FOR A HEALTHIER COMMUNITY, IS THE PRIMARY RECIPIENT OF BH SUPPORT. BAYSTATE HEALTH CURRENTLY INCLUDES THE FOLLOWING: BAYSTATE MEDICAL CENTER (BMC), LOCATED IN SPRINGFIELD, MASSACHUSETTS, IS THE LARGEST OF THE FOUR HOSPITALS IN THE BAYSTATE HEALTH SYSTEM. BMC, THE LEADING HEALTH FACILITY IN WESTERN MASSACHUSETTS, IS THE ONLY TERTIARY CARE REFERRAL MEDICAL CENTER AND LEVEL I TRAUMA CENTER IN THE REGION. IT IS ALSO HOME TO WESTERN NEW ENGLAND'S ONLY NEONATAL AND PEDIATRIC INTENSIVE CARE UNITS. BMC IS A 768-BED, TAX EXEMPT, NOT-FOR-PROFIT, ACADEMIC TEACHING HOSPITAL. BAYSTATE FRANKLIN MEDICAL CENTER (BFMC), LOCATED IN GREENFIELD, MASSACHUSETTS, IS A 89-BED, TAX EXEMPT, NOT-FOR-PROFIT, ACUTE CARE COMMUNITY HOSPITAL. BFMC SERVES THE NORTHERN TIER OF NORTHWESTERN MASSACHUSETTS AND SOUTHERN VERMONT. BAYSTATE WING HOSPITAL CORPORATION (BWH), LOCATED IN PALMER, MASSACHUSETTS, IS A 40-BED, TAX-EXEMPT, NOT-FOR-PROFIT, ACUTE CARE COMMUNITY HOSPITAL. BAYSTATE TOTAL HOME CARE, INC. (BTHC), LOCATED IN SPRINGFIELD, MASSACHUSETTS, IS A TAX EXEMPT, NOT-FOR-PROFIT CORPORATION ORGANIZED TO BENEFIT, SUPPORT AND FURTHER THE CHARITABLE ACTIVITIES OF BMC. BAYSTATE NOBLE HOSPITAL, INC. (BNH), LOCATED IN WESTFIELD, MASSACHUSETTS, IS A 65-BED TAX-EXEMPT, NOT-FOR-PROFIT ACUTE CARE COMMUNITY HOSPITAL. BNH PROVIDES INPATIENT, OUTPATIENT AND EMERGENCY CARE SERVICES FOR RESIDENTS IN THE GREATER WESTFIELD COMMUNITY. BAYSTATE MEDICAL PRACTICES, INC. (BMP) IS A MULTI-SPECIALTY ACADEMIC GROUP PRACTICE ESTABLISHED AS A TAX EXEMPT, NOT-FOR-PROFIT ORGANIZATION TO SUPPORT THE EDUCATIONAL AND RESEARCH PROGRAMS OF BAYSTATE HEALTH AS WELL AS NUMEROUS COMMUNITY PRIMARY CARE AND OUTREACH SERVICES. VISITING NURSE ASSOCIATION AND HOSPICE OF WESTERN NEW ENGLAND, INC. (BVNAH) IS A TAX EXEMPT, NOT-FOR-PROFIT ORGANIZATION THAT PROVIDES COMPREHENSIVE HOME HEALTH CARE COMMITTED TO PROVIDING THE HIGHEST QUALITY CARE TO PATIENTS AND FAMILIES, PRIMARILY IN THE HOME SETTING. BVNAH MEETS INDIVIDUAL NEEDS BY BRINGING EXPERIENCED NURSES, REHABILITATION THERAPISTS, SOCIAL WORKERS, AND HOME CARE AIDES TO PATIENTS' HOMES. HEALTH NEW ENGLAND, INC. (HNE) IS A TAX EXEMPT, NOT-FOR-PROFIT HEALTH MAINTENANCE ORGANIZATION. IT IS LOCATED IN SPRINGFIELD, MASSACHUSETTS. HNE'S SERVICE AREA IN MASSACHUSETTS INCLUDES FRANKLIN, BERKSHIRE, HAMPDEN AND HAMPSHIRE COUNTIES AND PART OF WORCESTER COUNTY. HNE ALSO SERVES HARTFORD, LITCHFIELD AND TOLLAND COUNTIES IN CONNECTICUT. BAYSTATE ADMINISTRATIVE SERVICES, INC. (BAS) IS A TAX EXEMPT, NOT-FOR-PROFIT CORPORATION THAT PROVIDES MANAGEMENT SUPPORT FOR THE BH SUBSIDIARIES, INCLUDING HUMAN RESOURCES, MARKETING, STRATEGIC PLANNING, INFORMATION SERVICES AND FINANCIAL SERVICES. BAYSTATE HEALTH FOUNDATION, INC. (BHF) IS A TAX EXEMPT, CHARITABLE ORGANIZATION ESTABLISHED FOR THE PURPOSE OF FUND-RAISING FOR HEALTHCARE RELATED ACTIVITIES, IN SUPPORT, AND FOR THE BENEFIT, OF BH AND THOSE SUBSIDIARIES OF BH THAT ARE TAX EXEMPT, NOT-FOR-PROFIT CORPORATIONS, AND TO HOLD ENDOWMENT, CHARITABLE DONATIONS, AND OTHER FUNDS FOR THEIR BENEFIT. INGRAHAM CORPORATION (IC) IS A FOR-PROFIT, TAXABLE CORPORATION WHOSE MAIN PURPOSE IS FACILITY SUPPORT SERVICES. BAYSTATE HEALTH INSURANCE COMPANY, LTD. (BHIC) IS A CAPTIVE INSURANCE COMPANY ORGANIZED AND LICENSED IN THE CAYMAN ISLANDS, BRITISH WEST INDIES. BHIC PROVIDES PROFESSIONAL LIABILITY AND OTHER INSURANCE COVERAGE TO BH AND ITS CORPORATE AFFILIATES AND THEIR EMPLOYEES. BHIC ALSO OFFERS MALPRACTICE INSURANCE TO MEMBERS OF BH'S MEDICAL STAFF WHO MEET CRITERIA FOR PARTICIPATION.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $8,708,026
Program Service Revenue $9,324,808
Investment Income $8,020,597
Other Revenue $1,287,731
TOTAL REVENUE $27,341,162

Expense Breakdown

Grants Paid $399,721
Salaries & Benefits $289,856
Fundraising Expenses $0
Program Expenses $15,547,786
Other Expenses $21,956,520
TOTAL EXPENSES $22,646,097

Year-over-Year Comparison

2023 2022 Change
Revenue $27,341,162 $28,034,230 0.0%
Expenses $22,646,097 $25,788,744 -0.1%
Net Income $4,695,065 $2,245,486 +1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
20
Independent Members
16
Employees
N/A
Volunteers
19

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
7
$4,263,470
Total Directors
25
$4,809,176
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK A KEROACK MD TRUSTEE (THRU 6/3/24)/PRESIDENT & CEO - BH 35.00
Officer 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 1.00
Director
$772,803 $54,493 $827,296
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 2.00
Officer Director
$0 $0 $0
HARRIET A DEVERRY CHAIR/TRUSTEE 2.00
Officer Director
$0 $0 $0
PETER D BANKO TRUSTEE (AS OF 6/4/24)/PRESIDENT & CEO - BH 35.00
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 10.00
Officer
$0 $29,919 $1,211,162
KRISTIN R DELANEY CLERK/DIR CORP GOVERNANCE 34.00
Officer
$0 $40,432 $217,312
NANCY REMILLARD ASST. CLERK OF THE CORP 1.00
Officer
$0 $13,612 $76,724
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 $27,341,162 $22,646,097 $260,600,991 $4,695,065
2023 $28,034,230 $25,788,744 $320,977,322 $2,245,486
2022 $11,532,257 $22,070,018 $247,749,996 $-10,537,761
2021 $30,171,754 $32,117,468 $257,276,337 $-1,945,714
2020 $40,124,462 $34,728,141 $239,302,322 $5,396,321
2019 $28,862,452 $29,360,274 $237,936,537 $-497,822
2018 $26,819,281 $28,188,865 $236,024,226 $-1,369,584
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