NEW ENGLAND BAPTIST MEDICAL ASSOCIATES INC (EIN 043235796) - 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

1994

Legal Domicile

Principal Officer

FREDERICK BASILICO MD

Phone

6177545800

Tax Period

2023-10-01 to 2024-09-30

NEW ENGLAND BAPTIST MEDICAL ASSOCIATES INC, founded in 1994, is a mid-sized nonprofit in the Health Care sector that reported $13.0M in total revenue in fiscal year 2023. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $18.8M exceeded revenue, resulting in a 44% operating deficit.

Mission

THE MISSION OF NEW ENGLAND BAPTIST MEDICAL ASSOCIATES (NEBMA) IS TO PROVIDE MEDICAL CARE TO THE PATIENTS OF ITS SOLE MEMBER, NEW ENGLAND BAPTIST HOSPITAL (NEBH OR HOSPITAL) AND TO WORK WITH THE HOSPITAL TO ACHIEVE THE EXEMPT PURPOSES OF BOTH NEBMA AND NEBH. NEBMA STRIVES TO PROVIDE THE HIGHEST QUALITY MEDICAL AND SURGICAL CARE AS WELL AS ADMINISTRATIVE SUPPORT AND LEADERSHIP FOR NEBH.

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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 $13,042,113

Investment Income $0

Other Revenue $3,702

TOTAL REVENUE $13,045,815

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,636,923

Fundraising Expenses $0

Program Expenses $18,785,301

Other Expenses $2,148,378

TOTAL EXPENSES $18,785,301

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,045,815	$9,772,970	+0.3%
Expenses	$18,785,301	$14,818,008	+0.3%
Net Income	$-5,739,486	$-5,045,038	+0.1%

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

N/A

Employees

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

$1,692,570

Total Directors

$3,823,578

Key Employees

$544,878

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTINGLY MD DAVID	TTEE (SURG CHIEF & CHAIR ORTHO NEBH)	55.00	Director	$1,595,869	$36,694	$1,632,563
PASSAFARO DAVID	TTEE (EX-OFF) (PRES, NEBH)	1.00	Director	$0	$187,914	$833,545
BASILICO MD FACC FREDERICK	PRES & TTEE (EXO) (PHYS CHIEF, NEBH)	55.00	Officer Director	$609,240	$28,764	$638,004
CRUZ-GERVIS MD ROBERTO	CHAIR&TTEE (CHIEF NEBH HOSPITALISTS)	55.00	Officer Director	$462,428	$42,838	$505,266
LEGASSIE PAIGE	SEC & TTEE; (VP, HR BUS PTR, NEBH)	1.00	Officer Director	$0	$14,143	$214,200
SMITH MBA BRIAN	ASST TREAS; METRO BOSTON & NEBH CFO	1.00	Officer	$0	$33,643	$335,100
HOLLENBECK MD BRIAN	SVP, CMO & CHIEF INFECTIOUS DISEASES	55.00	Key Emp	$495,187	$49,691	$544,878
KASIMATI MD IVI	HOSPITALIST	55.00	Highest	$462,073	$45,922	$507,995
STEINER MD MARCIA	INTENSIVIST	55.00	Highest	$485,354	$21,056	$506,410
LEDERMAN MD ANDREW	PHYSIATRIST	55.00	Highest	$387,613	$49,596	$437,209
LAHO MD HAKI	HOSPITALIST	55.00	Highest	$394,622	$41,884	$436,506
BUNGURI MD GENTIANA	HOSPITALIST	55.00	Highest	$377,628	$26,294	$403,922
GHERINGHELLI MSF THOMAS J	FRMR TREAS & TTEE (EXO) (CFO, NEBH)	0.00		$0	$0	$292,089
LEFAIVRE DANIEL	FRMR TREAS & TTEE (EXO) (CFO, NEBH)	0.00		$0	$25,354	$194,665
THOMPSON LINDA E	FRMR SEC/TTEE (EX-OFF) (SVP HR NEBH)	0.00		$0	$0	$110,210

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	$13,045,815	$18,785,301	$5,614,581	$-5,739,486
2023	$9,772,970	$14,818,008	$2,653,004	$-5,045,038
2022	$9,341,117	$12,401,082	$873,415	$-3,059,965
2021	$10,079,047	$13,096,626	$728,022	$-3,017,579
2020	$10,819,332	$14,662,131	$911,818	$-3,842,799
2019	$12,093,071	$16,035,142	$1,634,786	$-3,942,071
2018	$12,851,418	$16,573,409	$2,730,413	$-3,721,991

NEW ENGLAND BAPTIST MEDICAL ASSOCIATES INC