BETH ISRAEL DEACONESS DEPARTMENT OF MEDICINE FOUNDATION INC

EIN: 043079630 501(c)(3) Health Care

BOSTON, MA

Total Revenue
$1,634,912
Total Expenses
$1,989,399
Total Assets
$15,832,314
Net Assets
$14,703,280
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1990
Legal Domicile
MA
Principal Officer
MARK ZEIDEL
Phone
6176671050
Tax Period
2023-10-01 to 2024-09-30

BETH ISRAEL DEACONESS DEPARTMENT OF MEDICINE FOUNDATION INC, founded in 1990, is a community nonprofit in the Health Care sector that reported $1.6M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $2.0M exceeded revenue, resulting in a 22% operating deficit.

Mission

THE MISSION OF BETH ISRAEL DEACONESS DEPARTMENT OF MEDICINE FOUNDATION, INC. (BIDDM) IS TO SUPPORT THE PATIENT CARE, RESEARCH, AND TEACHING MISSIONS OF BETH ISRAEL DEACONESS MEDICAL CENTER (BIDMC) AND HARVARD MEDICAL FACULTY PHYSICIANS AT BETH ISRAEL DEACONESS MEDICAL CENTER (HMFP) AS WELL AS TO SUPPORT TEACHING AND RESEARCH AT THE PRESIDENT AND FELLOWS AT HARVARD COLLEGE/HARVARD MEDICAL SCHOOL (HMS).

Program Service Accomplishments

Program 1
Expenses: $687,885 Revenue: $726,874

BETH ISRAEL DEACONESS DEPARTMENT OF MEDICINE FOUNDATION, INC. (BIDDM) PLANS AND ADMINISTERS CONTINUING MEDICAL EDUCATION (CME) COURSES AND SEMINARS HELD AT BETH ISRAEL DEACONESS MEDICAL CENTER...

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BETH ISRAEL DEACONESS DEPARTMENT OF MEDICINE FOUNDATION, INC. (BIDDM) PLANS AND ADMINISTERS CONTINUING MEDICAL EDUCATION (CME) COURSES AND SEMINARS HELD AT BETH ISRAEL DEACONESS MEDICAL CENTER (BIDMC) AND HARVARD MEDICAL SCHOOL (HMS). THE MAJORITY OF THE COURSES ARE PRESENTED IN CONJUNCTION WITH HMS. THESE PROGRAMS PROVIDE CONTINUING EDUCATION OPPORTUNITIES FOR PHYSICIANS BOTH FROM WITHIN AND OUTSIDE OF THE BOSTON AREA AS WELL AS INTERNATIONALLY. BIDDM OFFERS NUMEROUS ANNUAL CME COURSES ON A WIDE VARIETY OF MEDICAL SPECIALTIES, SUCH AS CARDIOLOGY, ENDOCRINOLOGY, GASTROENTEROLOGY, INFECTIOUS DISEASE, INTERNAL MEDICINE, NEPHROLOGY, PULMONARY, RHEUMATOLOGY, GERONTOLOGY, AND CRITICAL CARE MEDICINE WHICH PROVIDE ATTENDING PRACTITIONERS WITH NEW KNOWLEDGE TO IMPROVE QUALITY MEDICAL CARE FOR PATIENTS AND THEIR COMMUNITIES. PHYSICIANS ATTENDING THESE COURSES RECEIVE CONTINUING EDUCATION CREDITS FOR MAINTENANCE OF THEIR LICENSURE.

Program 2
Expenses: $1,246,650

DURING THE FISCAL PERIOD COVERED BY THIS FILING, BIDDM PROVIDED SUPPORT TO PATIENT CARE, RESEARCH AND EDUCATION IN SOME OR ALL OF THE FOLLOWING AREAS: FINANCIAL SUPPORT TO NEPHROLOGY...

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DURING THE FISCAL PERIOD COVERED BY THIS FILING, BIDDM PROVIDED SUPPORT TO PATIENT CARE, RESEARCH AND EDUCATION IN SOME OR ALL OF THE FOLLOWING AREAS: FINANCIAL SUPPORT TO NEPHROLOGY, GASTROENTEROLOGY, ENDOCRINOLOGY, PULMONARY, AND CARDIOLOGY PROGRAMS WITHIN THE BIDMC AND HMFP DEPARTMENTS OF MEDICINE; ONGOING SUPPORT TO ALLERGY RELATED RESEARCH; SPONSORSHIP OF NUMEROUS EDUCATIONAL GRAND ROUNDS FOR THE BIDMC AND HMFP DEPARTMENTS OF MEDICINE; ONGOING SALARY SUPPORT TO BIDMC FELLOWSHIP PROGRAMS; AND THE PROVISION OF FINANCIAL SUPPORT TO COVER EXPENSES INCURRED AND/OR SALARY SUPPORT TO PHYSICIANS AND SUPPORT PERSONNEL PROVIDING CARE TO BIDMC AND HMFP PATIENTS. BIDDM FURTHER SUPPORTS THE EDUCATIONAL MISSIONS OF BIDMC AND HMFP BY HELPING TO BRING DISTINGUISHED PHYSICIANS TO BIDMC AND HMFP TO PROVIDE EDUCATIONAL LECTURES IN THEIR AREA OF EXPERTISE. THESE LECTURES SERVE AS AN INTEGRAL PART OF EDUCATING MEDICAL TRAINEES (INTERNS, RESIDENTS, AND FELLOWS) AND PHYSICIANS. ADDITIONALLY, BIDDM HELPS FUND THE COST OF TRAVEL FOR EDUCATIONAL OPPORTUNITIES SO THAT HMFP PHYSICIANS AND BIDMC CLINICAL FELLOWS IN TRAINING CAN ATTEND NATIONAL CONFERENCES FOR PROFESSIONAL DEVELOPMENT.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $135,890
Program Service Revenue $726,874
Investment Income $772,148
Other Revenue $0
TOTAL REVENUE $1,634,912

Expense Breakdown

Grants Paid $1,442,999
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,934,535
Other Expenses $546,400
TOTAL EXPENSES $1,989,399

Year-over-Year Comparison

2023 2022 Change
Revenue $1,634,912 $1,386,213 +0.2%
Expenses $1,989,399 $1,553,588 +0.3%
Net Income $-354,487 $-167,375 +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
7
Independent Members
N/A
Employees
N/A
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
5
$3,090,934
Total Directors
7
$5,910,055
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HEALY PETER DIR (EX-OFF) (PRES, BIDMC) 1.00
Director
$0 $84,548 $1,682,157
KIMBALL MD MPH ALEXA B DIRECTOR (EX-OFFICIO) (HMFP CEO) 1.00
Director
$0 $109,829 $1,199,659
ZEIDEL MD MARK L DIR (EXOFF) & PRES; MED CHIEF/CHAIR 1.00
Officer Director
$0 $87,340 $979,372
ZIMETBAUM MD PETER DIR&TREAS (CLIN DIR CARDIOLOGY BIDMC 1.00
Officer Director
$0 $53,585 $723,628
AGNEW MEGHAN DIR & CO-CLERK (EX-OFF); CFO, HFMP 1.00
Officer Director
$0 $89,105 $518,759
KAHN MD BARBARA DIR&COCLRK (ASST DIR METAB PHYS CORE 1.00
Officer Director
$0 $54,226 $407,523
TSOKOS MD GEORGE DIR(RHEUM DIV CHIEF,DEPT. MED,BIDMC) 1.00
Director
$0 $41,146 $398,957
MAGUIRE MS KEVIN EXEC DIR & CHIEF ADMIN OFFICER 1.00
Officer
$0 $82,167 $461,652
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 $1,634,912 $1,989,399 $15,832,314 $-354,487
2023 $1,386,213 $1,553,588 $13,887,261 $-167,375
2022 $2,005,746 $1,483,372 $13,423,903 $522,374
2021 $1,940,970 $1,038,518 $12,469,747 $902,452
2020 $1,597,645 $1,319,726 $10,416,984 $277,919
2019 $1,399,939 $1,136,446 $9,852,244 $263,493
2018 $1,379,316 $1,104,062 $9,291,819 $275,254
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