BOSTON MEDICAL CENTER HEALTH PLAN INC (EIN 043373331) - 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

1997

Legal Domicile

Principal Officer

HEATHER THILTGEN

Phone

6177486000

Tax Period

2023-10-01 to 2024-09-30

BOSTON MEDICAL CENTER HEALTH PLAN INC, founded in 1997, is a large national nonprofit in the Health Care sector that reported $5.2B in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum.

Mission

WELLSENSE IS ORGANIZED AND SHALL OPERATE AS A NONPROFIT CORPORATION EXCLUSIVELY FOR THE BENEFIT OF AND TO SUPPORT BOSTON MEDICAL CENTER CORPORATION AND TO PROVIDE ACCESS TO EFFECTIVE, EFFICIENT MEDICAL CARE AMONG LOW INCOME, UNDERSERVED, DISABLED, ELDERLY AND OTHER VULNERABLE RESIDENTS OF THE COMMUNITY.

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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 $5,124,054,283

Investment Income $72,920,834

Other Revenue $0

TOTAL REVENUE $5,196,975,117

Expense Breakdown

Grants Paid $0

Salaries & Benefits $171,250,892

Fundraising Expenses $0

Program Expenses $5,125,051,603

Other Expenses $235,673,002

TOTAL EXPENSES $5,141,306,831

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,196,975,117	$4,137,750,808	+0.3%
Expenses	$5,141,306,831	$4,017,725,145	+0.3%
Net Income	$55,668,286	$120,025,663	-0.5%

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

1397

Volunteers

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

$2,984,069

Total Directors

$1,197,985

Key Employees

$2,125,063

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HEATHER THILTGEN	TRUSTEE/PRESIDENT	50.00	Officer Director	$1,050,716	$147,269	$1,197,985
ALASTAIR BELL MD	TRUSTEE	1.00	Director	$0	$0	$0
JAMES BLUE	TRUSTEE	1.00	Director	$0	$0	$0
AMANDA EISEL	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER GORDON	TRUSTEE (THRU 7/9/24)	1.00	Director	$0	$0	$0
SUSAN LEVINE	TRUSTEE	1.00	Director	$0	$0	$0
JAMES MACPHEE	TRUSTEE (AS OF 7/9/24)	1.00	Director	$0	$0	$0
PAUL MENDIS MD	TRUSTEE	1.00	Director	$0	$0	$0
NEELA MONTGOMERY	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY SCHWARTZ	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT SWEET	TRUSTEE	1.00	Director	$0	$0	$0
MARK TABER	CHAIR/TRUSTEE	2.00	Officer Director	$0	$0	$0
TARSHA WEAVER	TRUSTEE	1.00	Director	$0	$0	$0
JAMES COLLINS	TREASURER/CFO (THRU 6/30/24)	50.00	Officer	$674,273	$104,143	$778,416
DARREN BENNETT SENIOR VP THRU	6/30/24), TREAS/CFO (EFF. 7/1/24)	50.00	Officer	$434,874	$49,894	$484,768
SERINA BARKLEY	CHIEF LEGAL OFF/CLERK	50.00	Officer	$492,450	$30,450	$522,900
DIANA CRUZ	CHIEF OPERATING OFFICER	50.00	Key Emp	$610,962	$84,309	$695,271
RAJESH NAIR	CHIEF INFO OFFICER (EFF. 5/2023)	50.00	Key Emp	$724,812	$21,707	$746,519
HOWARD LU	CHIEF MEDICAL OFFICER (THRU 8/1/24)	50.00	Key Emp	$668,681	$14,592	$683,273
PAUL WINGLE	CHIEF PRODUCT AND SALES OFFICER	50.00	Highest	$449,879	$38,116	$487,995
JENNIFER CARBONE	SVP, SERVICE & OPERATIONS	50.00	Highest	$447,878	$46,562	$494,440
WILLIAM KEOUGH	SENIOR MEDICAL DIRECTOR	50.00	Highest	$413,508	$22,555	$436,063
MATTHEW CONNELL	SVP, PHARMACY SERVICES	50.00	Highest	$417,124	$46,032	$463,156
DANIEL CONCAUGH	VP, NETWORK CONTRACTING	50.00	Highest	$436,751	$45,968	$482,719
KIMBERLY SINCLAIR	FORMER CHIEF INFORMATION OFFICER	0.00		$443,186	$1,904	$445,090

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	$5,196,975,117	$5,141,306,831	$1,702,165,103	$55,668,286
2023	$4,137,750,808	$4,017,725,145	$1,661,209,313	$120,025,663
2022	$3,051,766,108	$2,998,522,488	$1,269,835,591	$53,243,620
2021	$2,874,782,064	$2,769,194,815	$1,006,404,859	$105,587,249
2020	$2,754,286,124	$2,684,230,842	$765,181,113	$70,055,282
2019	$2,660,517,755	$2,664,525,014	$529,003,106	$-4,007,259
2018	$2,076,590,608	$2,073,442,438	$530,028,851	$3,148,170

BOSTON MEDICAL CENTER HEALTH PLAN INC