HEALTH NEW ENGLAND INC (EIN 042864973) - Form 990 Financial Analysis & Trantor Score

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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

2013

Legal Domicile

Principal Officer

RICHARD SWIFT

Phone

4137874000

Tax Period

2023-01-01 to 2023-12-31

HEALTH NEW ENGLAND INC, founded in 2013, is a major nonprofit in the Health Care sector that reported $990.8M in total revenue in fiscal year 2023.

Mission

THE MISSION OF HEALTH NEW ENGLAND, INC., IS TO IMPROVE THE HEALTH AND LIVES OF THE PEOPLE IN THE COMMUNITIES WE SERVE. AS PART OF BAYSTATE HEALTH, INC. (AN INTEGRATED HEALTH CARE SYSTEM), HEALTH NEW ENGLAND CONTRIBUTES TO THE ECONOMIC SUCCESS OF OUR REGION AND IS COMMITTED TO MEETING THE IDENTIFIED HEALTH AND WELLNESS NEEDS OF OUR COMMUNITIES SERVED THROUGH THE COMBINED EFFORTS OF BAYSTATE HEALTH, COMMUNITY ORGANIZATION PARTNERS, AND AFFILIATED PROVIDERS.

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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 $0

Program Service Revenue $980,354,680

Investment Income $8,194,460

Other Revenue $2,231,792

TOTAL REVENUE $990,780,932

Expense Breakdown

Grants Paid $421,150

Salaries & Benefits $44,209,209

Fundraising Expenses $0

Program Expenses $917,524,083

Other Expenses $54,997,729

TOTAL EXPENSES $1,016,731,021

Year-over-Year Comparison

	2023	2022	Change
Revenue	$990,780,932	$930,545,645	+0.1%
Expenses	$1,016,731,021	$923,558,117	+0.1%
Net Income	$-25,950,089	$6,987,528	-4.7%

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

511

Volunteers

N/A

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

$9,670,705

Total Directors

$5,541,059

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK A KEROACK MD	CHAIR/DIRECTOR, PRES. & CEO BH	1.00	Officer Director	$0	$42,615	$2,761,223
RICHARD SWIFT	PRESIDENT & CEO	39.00	Officer Director	$1,203,119	$371,042	$1,574,161
RAYMOND MCCARTHY	TREASURER & DIRECTOR, SVP CFO BH	1.00	Officer Director	$0	$24,432	$1,205,675
HARRIET DEVERRY	DIRECTOR	1.00	Director	$0	$0	$0
KATHLEEN OESTREICH	DIRECTOR	1.00	Director	$0	$0	$0
PIA FLANAGAN	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD BEAUCHAMP STEELE	DIRECTOR	1.00	Director	$0	$0	$0
TANIA BARBER	DIRECTOR	1.00	Director	$0	$0	$0
WENDOLYN BELL	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM WEBBER	DIRECTOR	1.00	Director	$0	$0	$0
JODY GROSS	VP OPS & GOVT OPS (TERM 4/8/2023)	40.00	Officer	$800,739	$22,023	$822,762
LISA M COHEN	CHIEF FINANCIAL OFFICER	40.00	Officer	$578,571	$202,947	$781,518
KATE MCINTOSH	VP & CHIEF MEDICAL OFFICER	40.00	Officer	$579,230	$166,097	$745,327
CASEY J HOSSA	CHIEF INFORMATION OFFICER	40.00	Officer	$479,542	$149,483	$629,025
SUSAN O'CONNOR	GENERAL COUNSEL	40.00	Officer	$433,578	$133,378	$566,956
JASON RIO	SR. DIR. REVENUE ASSUR. & RISK MGMT	40.00	Officer	$287,280	$79,896	$367,176
JUDITH DANEK	DIR OFFICE OF PRES & GOVT RELATIONS	39.00	Officer	$169,728	$47,154	$216,882
LAURIE DORAN	VP NETWORK MGMT & CORP STRATEGY	40.00	Highest	$441,575	$0	$441,575
TIMOTHY CHRYSTAL	DIR. OF SALES & ACCT MGMT.	40.00	Highest	$284,293	$111,344	$395,637
MICHAEL GAUVIN	DIR. PROGRAM DVP. & MARKET INTEL.	40.00	Highest	$288,548	$93,565	$382,113
TYLER HUTCHISON	CHIEF ACTUARY	40.00	Highest	$311,241	$68,384	$379,625
SEAN NOONE	SR. DIRECTOR CHIEF OF OPERATIONS	40.00	Highest	$284,772	$83,456	$368,228
MICHAEL FASO	FORMER INTERIM CFO	39.00		$248,050	$0	$248,050
KEITH LEDOUX	VP COMM. LOB & SALES (TERM 12/31/22)	39.00		$193,347	$21,524	$214,871

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	No data	No data	No data	No data
2023	$990,780,932	$1,016,731,021	$295,692,088	$-25,950,089
2022	$930,545,645	$923,558,117	$292,952,185	$6,987,528
2021	$871,340,973	$882,663,336	$263,944,212	$-11,322,363
2020	$777,982,397	$761,123,391	$254,172,988	$16,859,006
2019	$732,351,554	$729,854,974	$219,242,984	$2,496,580
2018	$773,860,706	$767,383,113	$185,688,742	$6,477,593

HEALTH NEW ENGLAND INC