BAYSTATE ADMINISTRATIVE SERVICES I… - Form 990 Financial Data

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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

1986

Legal Domicile

Principal Officer

LAURIE MARTIN

Phone

4137947872

Tax Period

2023-10-01 to 2024-09-30

BAYSTATE ADMINISTRATIVE SERVICES INC, founded in 1986, is a major nonprofit in the Health Care sector that reported $199.0M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $228.0M exceeded revenue, resulting in a 15% operating deficit.

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: $76,001,535 Revenue: $71,614,903

BAYSTATE ADMINISTRATIVE SERVICES PROVIDES MANAGEMENT AND ADMINISTRATIVE SUPPORT TO BAYSTATE HEALTH AND ITS AFFILIATES. THESE SERVICES ARE AN INTEGRAL PART OF THE HEALTHCARE DELIVERY SYSTEM AND...

BAYSTATE ADMINISTRATIVE SERVICES PROVIDES MANAGEMENT AND ADMINISTRATIVE SUPPORT TO BAYSTATE HEALTH AND ITS AFFILIATES. THESE SERVICES ARE AN INTEGRAL PART OF THE HEALTHCARE DELIVERY SYSTEM AND INCLUDE STRATEGIC PLANNING, HUMAN RESOURCES, RISK MANAGEMENT (INSURANCE) PROGRAMS, MARKETING, FINANCIAL SERVICES AND BENEFIT PLANS ADMINISTRATION FOR ALL HEALTH SYSTEM EMPLOYEES.

Program 2

Expenses: $122,762,174 Revenue: $126,472,568

BAYSTATE ADMINISTRATIVE SERVICES PROVIDES INFORMATION TECHNOLOGY SUPPORT TO BAYSTATE HEALTH AND ITS AFFILIATES. THESE SERVICES ARE AN INTEGRAL PART OF THE HEALTHCARE DELIVERY SYSTEM AND INCLUDE ALL SOFTWARE APPLICATIONS, TELECOMMUNICATIONS, CLINICAL ENGINEERING, AND COMPUTERIZED EQUIPMENT AT THE HOSPITALS.

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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 $195,230,572

Investment Income $885,209

Other Revenue $2,902,983

TOTAL REVENUE $199,018,764

Expense Breakdown

Grants Paid $0

Salaries & Benefits $124,939,703

Fundraising Expenses $0

Program Expenses $198,763,709

Other Expenses $103,053,216

TOTAL EXPENSES $227,992,919

Year-over-Year Comparison

	2023	2022	Change
Revenue	$199,018,764	$176,813,133	+0.1%
Expenses	$227,992,919	$179,743,979	+0.3%
Net Income	$-28,974,155	$-2,930,846	+8.9%

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

N/A

Employees

681

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

$4,263,470

Total Directors

$6,976,008

Key Employees

$783,661

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK A KEROACK MD	DIR. (THRU 6/3/24)/PRES & CEO - BH	8.00	Officer Director	$2,714,007	$44,265	$2,758,272
ANDREW ARTENSTEIN MD	DIRECTOR/PRES-BMP/CPE, CAO	5.00	Director	$1,284,349	$44,386	$1,328,735
RAYMOND MCCARTHY	DIRECTOR/SVP, CFO & TREASURER BH	5.00	Officer Director	$1,181,243	$29,919	$1,211,162
VANESSA L SMITH	DIRECTOR/SVP/CLO	50.00	Director	$849,273	$46,313	$895,586
KRISTIN MORALES-LEMIEUX	DIRECTOR/SVP/CHRO	49.00	Director	$756,402	$25,851	$782,253
PETER D BANKO	DIR. (AS OF 6/4/24)/PRES & CEO -BH	7.00	Officer Director	$0	$0	$0
KRISTIN R DELANEY	CLERK/DIR CORP GOVERNANCE	8.00	Officer	$176,880	$40,432	$217,312
NANCY REMILLARD	ASST. CLERK OF THE CORP	42.00	Officer	$63,112	$13,612	$76,724
KEVIN CONWAY	SVP & CHIEF INFORMATION OFFICER	50.00	Key Emp	$657,147	$126,514	$783,661
DOUGLAS SALVADOR MD	SVP/CQO BH, CMO BMC	10.00	Highest	$831,740	$53,642	$885,382
RONALD P BRYANT	PRESIDENT, BH COMM HOSPITALS	2.00	Highest	$690,386	$49,163	$739,549
BETTY K LARUE	COO-BMP/VP-BH, AMBULATORY OPS	10.00	Highest	$577,350	$48,982	$626,332
TINA BASCH	VP, CHIEF INFORMATION SECURITY OFFICER	50.00	Highest	$500,841	$47,623	$548,464
SAMUEL SKURA	TRUSTEE/PRES BMC SVP	2.00	Highest	$1,016,222	$186,721	$1,202,943
MARION MCGOWAN	FORMER DIRECTOR/EVP, COO-BH	0.00		$15,619	$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	$199,018,764	$227,992,919	$48,842,442	$-28,974,155
2023	$176,813,133	$179,743,979	$44,620,760	$-2,930,846
2022	$165,861,585	$166,044,199	$43,589,563	$-182,614
2021	$148,686,621	$148,484,522	$41,895,061	$202,099
2020	$135,061,156	$135,759,657	$31,586,935	$-698,501
2019	$128,268,170	$130,219,967	$31,030,940	$-1,951,797
2018	$124,542,441	$124,520,171	$25,523,571	$22,270

BAYSTATE ADMINISTRATIVE SERVICES INC