BAYSTATE NOBLE HOSPITAL CORPORATION

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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

1984

Legal Domicile

Principal Officer

LAURIE MARTIN

Phone

4135682811

Tax Period

2023-10-01 to 2024-09-30

BAYSTATE NOBLE HOSPITAL CORPORATION, founded in 1984, is a mid-sized nonprofit in the Health Care sector that reported $83.0M in total revenue in fiscal year 2023.

Mission

THE MISSION OF THE ORGANIZATION IS TO IMPROVE THE HEALTH OF THE PEOPLE IN OUR COMMUNITIES EVERY DAY, WITH QUALITY AND COMPASSION.

Program Service Accomplishments

Program 1

Expenses: $28,384,372 Revenue: $31,665,087

INPATIENT HEALTHCARE SERVICES - PROVIDING INPATIENT COMMUNITY-BASED MEDICINE AND TERTIARY CARE TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY...

INPATIENT HEALTHCARE SERVICES - PROVIDING INPATIENT COMMUNITY-BASED MEDICINE AND TERTIARY CARE TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE NOBLE HOSPITAL PROVIDED 13,011 PATIENT DAYS OF INPATIENT SERVICES.

Program 2

Expenses: $28,922,245 Revenue: $28,001,496

OUTPATIENT HEALTHCARE SERVICES - PROVIDING OUTPATIENT CLINICAL SERVICES TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE...

OUTPATIENT HEALTHCARE SERVICES - PROVIDING OUTPATIENT CLINICAL SERVICES TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE NOBLE HOSPITAL HAD 117,829 OUTPATIENT VISITS.

Program 3

Expenses: $14,675,159 Revenue: $16,917,384

EMERGENCY DEPARTMENTS SERVICES - PROVIDING EMERGENCY DEPARTMENT SERVICES TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE...

EMERGENCY DEPARTMENTS SERVICES - PROVIDING EMERGENCY DEPARTMENT SERVICES TO THE SURROUNDING REGION. SERVICES ARE AVAILABLE TO INDIVIDUALS REGARDLESS OF THEIR ABILITY TO PAY. DURING FY24, BAYSTATE NOBLE HOSPITAL HAD 30,008 EMERGENCY DEPARTMENT VISITS.

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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 $1,393,472

Program Service Revenue $79,673,545

Investment Income $1,634,891

Other Revenue $330,446

TOTAL REVENUE $83,032,354

Expense Breakdown

Grants Paid $2,887

Salaries & Benefits $37,359,942

Fundraising Expenses $0

Program Expenses $78,608,381

Other Expenses $45,003,018

TOTAL EXPENSES $82,365,847

Year-over-Year Comparison

	2023	2022	Change
Revenue	$83,032,354	$84,758,266	0.0%
Expenses	$82,365,847	$80,972,738	+0.0%
Net Income	$666,507	$3,785,528	-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

727

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

$2,244,747

Total Directors

$5,686,695

Key Employees

$845,242

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	Director	$0	$44,265	$2,758,272
NICOLAS JABBOUR MD	TRUSTEE (AS OF 1/1/24)/CHAIR DEPT. OF SURGERY	1.00	Director	$0	$56,490	$1,083,422
KEVIN P MORIARTY MD	TRUSTEE (THRU 12/31/23)/CHIEF PED SURGERY	1.00	Director	$772,803	$54,493	$827,296
SUNDEEP SHUKLA MD	TRUSTEE (THRU 6/30/24)/CHIEF EMER SRVS	50.00	Director	$462,410	$52,925	$515,335
VITTAL SETRU MD	TRUSTEE (AS OF 7/1/24)/CHIEF HMP	1.00	Director	$337,237	$24,947	$362,184
AKINYELE K LOVELACE DO	TRUSTEE/PER DIEM INTERNIST	1.00	Director	$102,600	$4,617	$107,217
SARA ROURKE MD	TRUSTEE/PER DIEM URGENT CARE PHYSICIAN	1.00	Director	$31,250	$1,719	$32,969
COLLEEN W HOLMES	VICE CHAIR/TRUSTEE	1.00	Officer Director	$0	$0	$0
HARRIET A DEVERRY	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
ANTONIO E DOS SANTOS	TRUSTEE	1.00	Director	$0	$0	$0
CLAUDIA R COPLEIN DO	TRUSTEE	1.00	Director	$0	$0	$0
DENISE R JORDAN	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH CARDONA	TRUSTEE (THRU 12/31/23)	1.00	Director	$0	$0	$0
IRENE RODRIGUEZ-MARTIN	TRUSTEE	1.00	Director	$0	$0	$0
JAMES R PHANEUF	TRUSTEE (THRU 12/31/23)	1.00	Director	$0	$0	$0
JULIE QUINK	TRUSTEE (AS OF 1/1/24)	1.00	Director	$0	$0	$0
LINDA THOMPSON	TRUSTEE	1.00	Director	$0	$0	$0
MADELINE LANDRAU	TRUSTEE (AS OF 1/1/24)	1.00	Director	$0	$0	$0
MARIA P GONCALVES	TRUSTEE	1.00	Director	$0	$0	$0
MARK A O'CONNELL	TRUSTEE	1.00	Director	$0	$0	$0
PAUL C PICKNELLY	TRUSTEE	1.00	Director	$0	$0	$0
PAUL R MURPHY	TRUSTEE (THRU 12/31/23)	1.00	Director	$0	$0	$0
RICHARD BOSSIE	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT J BACON	TRUSTEE	1.00	Director	$0	$0	$0
RUTH H CONSTANTINE	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM R WEBBER	TRUSTEE	1.00	Director	$0	$0	$0
RAYMOND MCCARTHY	TRUSTEE/SVP, CFO & TREASURER BH	5.00	Officer	$0	$29,919	$1,211,162
RONALD P BRYANT	TRUSTEE/PRESIDENT, BH COMM HOSPITALS	16.00	Officer	$0	$49,163	$739,549
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
LISSETTE GRIMALDI	VP/CNO BNH	50.00	Key Emp	$272,112	$17,950	$290,062
JANICE MAYFORTH	CFO - REGIONAL COMMUNITY HOSPITALS	15.00	Key Emp	$0	$42,043	$280,699
T BRITTON PERCY MD	VP/CMO	50.00	Key Emp	$238,384	$36,097	$274,481
JEAN KING	DIR PATIENT CARE SVCS	50.00	Highest	$196,257	$10,558	$206,815
ANGELA M COTTI	REGISTERED NURSE	50.00	Highest	$200,377	$4,595	$204,972
ALISSA HEATH	REGISTERED NURSE	50.00	Highest	$169,312	$15,478	$184,790
PAMELA FOURNIER	REGISTERED NURSE	50.00	Highest	$164,911	$12,365	$177,276
CAROLINE FORTIER	REGISTERED NURSE	50.00	Highest	$151,450	$23,124	$174,574

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	$83,032,354	$82,365,847	$44,205,788	$666,507
2023	$84,758,266	$80,972,738	$42,811,777	$3,785,528
2022	$75,370,439	$82,053,665	$39,647,250	$-6,683,226
2021	$68,736,479	$68,703,758	$55,567,412	$32,721
2020	$54,386,743	$64,224,676	$53,343,507	$-9,837,933
2019	$55,287,286	$60,109,542	$48,479,638	$-4,822,256
2018	$57,014,265	$56,725,247	$40,984,125	$289,018