BAYSTATE HEALTH FOUNDATION INC (EIN 043549011) - 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

2000

Legal Domicile

Principal Officer

LAURIE MARTIN

Phone

4137940000

Tax Period

2023-10-01 to 2024-09-30

BAYSTATE HEALTH FOUNDATION INC, founded in 2000, is a mid-sized nonprofit in the Health Care sector that reported $13.7M in total revenue in fiscal year 2023. Revenue fell 29% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.1M, a strong 15% operating margin.

Mission

THE MISSION OF BAYSTATE HEALTH FOUNDATION IS TO INSPIRE A "CULTURE OF PHILANTHROPY AND ENCOURAGE PHILANTHROPIC RELATIONSHIPS THAT WILL SUPPORT THE MISSION AND VISION OF BAYSTATE HEALTH WHICH IS TO IMPROVE THE HEALTH OF THE PEOPLE IN OUR COMMUNITIES EVERY DAY, WITH QUALITY AND COMPASSION.

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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 $6,908,707

Program Service Revenue $2,000,000

Investment Income $4,735,577

Other Revenue $85,317

TOTAL REVENUE $13,729,601

Expense Breakdown

Grants Paid $8,450,278

Salaries & Benefits $2,381,886

Fundraising Expenses $2,805,536

Program Expenses $8,450,278

Other Expenses $798,017

TOTAL EXPENSES $11,630,181

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,729,601	$19,230,995	-0.3%
Expenses	$11,630,181	$8,489,441	+0.4%
Net Income	$2,099,420	$10,741,554	-0.8%

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

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

$4,263,470

Total Directors

$6,866,448

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK A KEROACK MD	TRUSTEE (THRU 6/3/24)/PRESIDENT & CEO - BH	1.00	Officer Director	$0	$44,265	$2,758,272
ANDREW ARTENSTEIN MD	TRUSTEE/PRES-BMP/CPE, CAO	1.00	Director	$0	$44,386	$1,328,735
RAYMOND MCCARTHY	TRUSTEE/SVP, CFO & TREASURER BH	1.00	Officer Director	$0	$29,919	$1,211,162
SAMUEL SKURA	TRUSTEE/PRES BMC SVP	1.00	Director	$0	$186,721	$1,202,943
SCOTT BERG	TRUSTEE/VP PHILANTHROPY	50.00	Director	$0	$20,676	$365,336
MARK W TEED	CHAIR/TRUSTEE	1.00	Officer Director	$0	$0	$0
PETER D BANKO	TRUSTEE (AS OF 6/4/24)/PRESIDENT & CEO - BH	1.00	Officer Director	$0	$0	$0
ARAM VARTANIAN	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER ORSZULAK	TRUSTEE	1.00	Director	$0	$0	$0
DENA M HALL	TRUSTEE (AS OF 1/1/24)	1.00	Director	$0	$0	$0
JACQUELINE RODRIQUEZ	TRUSTEE	1.00	Director	$0	$0	$0
JAMES P SADOWSKY	TRUSTEE (THRU 12/31/23)	1.00	Director	$0	$0	$0
JEFFREY A AMANTI	TRUSTEE	1.00	Director	$0	$0	$0
JOHN F MAYBURY	TRUSTEE	1.00	Director	$0	$0	$0
MADELINE LANDRAU	TRUSTEE	1.00	Director	$0	$0	$0
MAUREEN JAMES	VICE CHAIR (AS OF 1/1/24)/TRUSTEE	1.00	Officer Director	$0	$0	$0
MICHELE MEGAS-DITOMASSI	TRUSTEE	1.00	Director	$0	$0	$0
MICHELLE DWYER	TRUSTEE	1.00	Director	$0	$0	$0
SAMUEL HANMER	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN M DANE	TRUSTEE (THRU 12/31/23)	1.00	Director	$0	$0	$0
VINCENT J CARDILLO	TRUSTEE	1.00	Director	$0	$0	$0
KRISTIN R DELANEY	CLERK/DIR CORP GOVERNANCE	1.00	Officer	$0	$40,432	$217,312
NANCY REMILLARD	ASST. CLERK OF THE CORP	1.00	Officer	$0	$13,612	$76,724
KATHLEEN L TOBIN MARTIN	DIRECTOR ANNUAL FUND & EVENTS	50.00	Highest	$148,423	$18,426	$166,849
KYLIE H JOHNSON	PLANNED GIVING DIRECTOR	50.00	Highest	$123,335	$35,995	$159,330
TERESA GROVE	PHILANTHROPY OFFICER	50.00	Highest	$100,294	$23,910	$124,204
MARION MCGOWAN	FORMER DIRECTOR/EVP, COO-BH	0.00		$0	$380	$15,999

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	$13,729,601	$11,630,181	$180,784,452	$2,099,420
2023	$19,230,995	$8,489,441	$158,241,695	$10,741,554
2022	$33,504,312	$9,744,733	$143,679,503	$23,759,579
2021	$11,066,135	$8,081,283	$162,504,462	$2,984,852
2020	$13,464,862	$9,508,697	$134,661,792	$3,956,165
2019	$9,304,410	$9,877,982	$127,120,854	$-573,572
2018	$14,040,181	$11,266,701	$128,044,889	$2,773,480

BAYSTATE HEALTH FOUNDATION INC