CAREGROUP INC (EIN 222629185) - 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

1984

Legal Domicile

Principal Officer

STEVEN FISCHER

Phone

6176671700

Tax Period

2018-10-01 to 2019-03-01

CAREGROUP INC, founded in 1984, is a mid-sized nonprofit that reported $14.1M in total revenue in fiscal year 2018. The organization ran a surplus of $7.2M, a strong 51% operating margin.

Mission

FOR THE SHORT FINAL PERIOD COVERED BY THIS FILING, THE PURPOSE OF CAREGROUP, INC. (CAREGROUP) WAS TO OVERSEE THE FINANCIAL WELL-BEING OF THE AFFILIATED ENTITIES WHICH MADE UP THE CAREGROUP SYSTEM. FOR THE PERIOD COVERED BY THIS FILING, CAREGROUP SERVED AS THE SOLE MEMBER AND AS A SUPPORT ORGANIZATION OF BETH ISRAEL DEACONESS MEDICAL CENTER (BIDMC OR MEDICAL CENTER). FOR THE SAME PERIOD BIDMC SERVED AS THE SOLE MEMBER OF BETH ISRAEL DEACONESS HOSPITAL NEEDHAM, INC. (BIDN), MEDICAL CARE OF BOSTON MANAGEMENT CORPORATION, D/B/A BETH ISRAEL DEACONESS HEALTHCARE A/K/A AFFILIATED PHYSICIANS GROUP (APG), BETH ISRAEL DEACONESS HOSPITAL MILTON, INC. (BID-MILTON), BETH ISRAEL DEACONESS HOSPITAL PLYMOUTH (BID-PLYMOUTH) AND JORDAN HEALTH SYSTEMS, INC. (JHSI). IN ADDITION, HARVARD MEDICAL FACULTY PHYSICIANS AT BETH ISRAEL DEACONESS MEDICAL CENTER, INC. (HMFP) IS THE DEDICATED PHYSICIAN PRACTICE OF THE MEDICAL CENTER AND AN ENTITY INTEGRALLY RELATED TO HELPING THE MEDICAL CENTER ACCOMPLISH ITS CHARITABLE PURPOSES. DURING THIS SAME PERIOD CAREGROUP ALSO SERVED AS THE SOLE MEMBER AND A SUPPORT ORGANIZATION OF NEW ENGLAND BAPTIST HOSPITAL (NEBH) WHICH IN TURN SERVED AS THE SOLE MEMBER OF NEW ENGLAND BAPTIST MEDICAL ASSOCIATES (NEBMA), AND MOUNT AUBURN HOSPITAL (MAH), WHICH IN TURN SERVED AS THE SOLE MEMBER OF MOUNT AUBURN PROFESSIONAL SERVICES (MAPS) AND CAREGROUP PARMENTER HOME CARE AND HOSPICE (CPHCH). EACH OF THE ENTITIES LISTED IN THIS PARAGRAPH MAY, IN TURN, HAVE SERVED AS MEMBER OF ADDITIONAL ENTITIES WITHIN THE CAREGROUP NETWORK OF AFFILIATES. EFFECTIVE MARCH 1, 2019, AND AS PART OF THE CREATION OF THE BETH ISRAEL LAHEY HEALTH (BILH) NETWORK, CAREGROUP, MERGED INTO BIDMC PURSUANT TO A PLAN OF STATUTORY MERGER. PRIOR TO THAT DATE AND FOR THE SHORT FINAL PERIOD COVERED BY THIS FILING, LHSI SERVED AS THE SOLE MEMBER, A SUPPORT ORGANIZATION OF, AND PARENT TO, BIDMC AS NOTED ABOVE.

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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 (2018)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,765,650

Investment Income $18,289

Other Revenue $10,295,863

TOTAL REVENUE $14,079,802

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,818,348

Fundraising Expenses $0

Program Expenses $4,888,815

Other Expenses $3,037,576

TOTAL EXPENSES $6,855,924

Year-over-Year Comparison

	2018	2017	Change
Revenue	$14,079,802	$13,229,018	+0.1%
Expenses	$6,855,924	$21,494,448	-0.7%
Net Income	$7,223,878	$-8,265,430	-1.9%

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

$1,141,560

Total Directors

Key Employees

$998,418

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARKER ESQ THOMAS R	DIRECTOR	1.00	Director	$0	$0	$0
CANEPA JOHN J	DIRECTOR	1.00	Director	$0	$0	$0
JICK DANIEL J	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLS PETER B	DIRECTOR	1.00	Director	$0	$0	$0
NORKUS MICHAEL	DIRECTOR & BOARD CHAIR	2.00	Officer Director	$0	$0	$0
STRIEDER HELEN R	DIRECTOR	1.00	Director	$0	$0	$0
WILKINS JOHN P	DIRECTOR	1.00	Director	$0	$0	$0
ROBLE DANIEL	VP, GENERAL COUNSEL, CLERK	24.00	Officer	$403,106	$56,041	$459,147
SZUM JOHN	CFO, EVP, TREASURER	60.00	Officer	$619,485	$62,928	$682,413
BELL JAMES	SVP CHIEF INVESTMENT OFFICER	60.00	Key Emp	$291,551	$18,999	$310,550
DONOVAN SHAWN	VP - MARKETABLE SECURITIES	60.00	Key Emp	$619,442	$68,426	$687,868
CLOUGH JEANETTE	PRES/CEO MT AUBURN HOSP	65.00	Highest	$827,248	$58,114	$1,083,214
SCHWAB VALBONA	VP - MARKETABLE SECURITIES	60.00	Highest	$493,076	$62,831	$555,907
ANTONAS JULIE	VP - MARKETABLE SECURITIES	60.00	Highest	$452,020	$36,767	$488,787
APPLEYARD JOSEPH	CORP DIR - FINANCIAL PLANNING	60.00	Highest	$212,596	$53,605	$266,201
WOLFSON KAREN	PROGRAM DIR-TAX	60.00	Highest	$201,712	$53,426	$255,138
MONCREIFF JANE	FORMER SVP & CHF INVSMT OFF	0.00		$240,385	$0	$240,385

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
2019	$14,079,802	$6,855,924	No data	$7,223,878
2018	$13,229,018	$21,494,448	$5,477,262	$-8,265,430

CAREGROUP INC