Baystate Medical Practices Inc
- Assets
- $74.8m
- Revenue
- $390.4m
- Investments
- $0.0
- Employees
- 2,222
- Location
- Springfield, MA
- Founding
- 08/1986
- Data as of
- 09/2021
- EIN
- 04-2888373
Organization Overview
Baystate Medical Practices Inc is located in Springfield, MA. The organization was established in 1986. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. As of 09/2021, Baystate Medical Practices Inc employed 2,222 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baystate Medical Practices Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Baystate Medical Practices Inc generated $390.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $449.9m during the year ending 09/2021. While expenses have increased by 7.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO IMPROVE THE HEALTH OF THE PEOPLE IN OUR COMMUNITIES EVERY DAY, WITH QUALITY AND COMPASSION. BAYSTATE MEDICAL PRACTICES' VISION STATES IT WILL BE THE MULTI-SPECIALTY GROUP PRACTICE OF CHOICE, KNOWN FOR EXCEPTION SERVICE, QUALITY, VALUE AND ACADEMIC LEADERSHIP.
Describe the Organization's Program Activity:
BAYSTATE MEDICAL PRACTICES, INC. (BMP) PROVIDES PHYSICIAN SERVICES, MEDICAL EDUCATION AND RESEARCH PROGRAMS TO PEOPLE IN THE COMMUNITY WITHIN ITS GEOGRAPHIC LOCATION. BMP'S POLICY IS TO PROVIDE CARE TO ANY PATIENT IN NEED OF MEDICAL CARE, REGARDLESS OF THE PATIENT'S ABILITY TO PAY FOR SUCH CARE. DEPENDENT UPON THE PATIENT'S FINANCIAL CAPABILITY TO PAY, BMP MAY PROVIDE SUCH CARE FREE OF CHARGE OR AT AMOUNTS BELOW ITS NORMAL CHARGES. BECAUSE BMP DOES NOT PURSUE COLLECTION OF AMOUNTS DETERMINED TO QUALIFY AS CHARITY CARE, THEY ARE NOT REPORTED AS REVENUE.IN ADDITION TO THE CHARITY CARE PROVIDED TO PATIENTS, BMP'S PHYSICIANS PARTICIPATE IN MANY AND VARIED ONGOING COMMUNITY OUTREACH INITIATIVES IN THE AREAS OF EDUCATION, EMPLOYMENT, SAFETY AND HEALTH. FOR EXAMPLE, THE BMP PHYSICIANS IN THE DEPARTMENT OF PEDIATRICS, IN COLLABORATION WITH THE SPRINGFIELD SCHOOL DEPARTMENT, STAFF SIX SCHOOL-BASED CLINICS THAT ENHANCE SCHOOL HEALTH EDUCATION PROGRAMS, PROVIDE PROFESSIONAL DEVELOPMENT COURSES FOR TEACHERS AND ADMINISTRATORS AND ESTABLISH A SCHOOL-TO-WORK PROGRAM.BMP HAS ALSO TAKEN A LEADERSHIP ROLE IN STRENGTHENING THE HEALTH OF DISADVANTAGED CITIZENS IN SURROUNDING COMMUNITIES INCLUDING SPECIFIC FOCUS ON AIDS AND HIV AND BY PROVIDING PHYSICIAN STAFFING FOR THREE COMMUNITY-BASED HEALTH CENTERS THROUGH BAYSTATE MEDICAL CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark A Keroack MD Director/president & CEO (thru 12/20) | Trustee | 1 | $2,511,656 |
Dennis Oh MD Chief Div Of Neurosurgery | 50 | $1,825,795 | |
Andrew Artenstein MD President | OfficerTrustee | 40 | $1,178,522 |
Nicolas Jabbour MD Director | Trustee | 50 | $1,029,270 |
Anthony Rousou MD Cardiac Surgeon | 50 | $959,722 | |
Thomas A Schwann MD Chief Cardiac Surgery | 50 | $943,181 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Valley Medical Group Physician Services | 9/29/21 | $34,491,000 |
Baystate Obgyn Group Physician Services | 9/29/21 | $9,696,014 |
Baystate Medical Center Physician Support Services | 9/29/21 | $5,444,436 |
Baystate Administrative Services Management Services | 9/29/21 | $6,611,604 |
Springfield Medical Associates Physician Services | 9/29/21 | $8,957,576 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $381,586 |
| Government grants | $5,076,423 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,458,009 |
| Total Program Service Revenue | $384,949,397 |
| Investment income | $11,040 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $390,418,446 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $12,338,952 |
| Compensation of current officers, directors, key employees. | $584,867 |
| Compensation to disqualified persons | $1,322,814 |
| Other salaries and wages | $267,542,483 |
| Pension plan accruals and contributions | $14,762,541 |
| Other employee benefits | $18,354,071 |
| Payroll taxes | $14,939,808 |
| Fees for services: Management | $7,586,512 |
| Fees for services: Legal | $185,120 |
| Fees for services: Accounting | $48,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $80,467,122 |
| Advertising and promotion | $0 |
| Office expenses | $2,027,751 |
| Information technology | $1,371,504 |
| Royalties | $0 |
| Occupancy | $8,496,180 |
| Travel | $143,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,549 |
| Interest | $884 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,729,583 |
| Insurance | $10,798,775 |
| All other expenses | $318,868 |
| Total functional expenses | $449,857,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,016,646 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,101,505 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,854,983 |
| Net Land, buildings, and equipment | $9,501,382 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,998,491 |
| Other assets | $7,357,695 |
| Total assets | $74,830,702 |
| Accounts payable and accrued expenses | $60,676,942 |
| Grants payable | $0 |
| Deferred revenue | $627,722 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,381,533 |
| Total liabilities | $95,686,197 |
| Net assets without donor restrictions | -$20,855,495 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $74,830,702 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Baystate Medical Practices Inc has recieved totaling $381,586.
| Awarding Organization | Amount |
|---|---|
Baystate Health Foundation Inc Springfield, MA PURPOSE: To support education, research, clinical and healthcare programs | $381,586 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baystate Medical Practices Inc Springfield, MA | $74,830,702 | $390,418,446 |
Beth Israel Lahey Health Inc Hcsr Cambridge, MA | $172,006,261 | $340,775,421 |
Montefiore Health System Inc Tarrytown, NY | $787,550,963 | $277,667,137 |
Chs Services Inc Rockville Centre, NY | $406,825,660 | $247,222,017 |
Clny Alliance Inc Westbury, NY | $6,584,050 | $105,064,561 |
Metropolitan Jewish Health System Inc Brooklyn, NY | $32,845,157 | $60,897,961 |
Bhs Management Services Inc Pittsfield, MA | $13,878,058 | $69,134,374 |
Capital Area Health Consortium Inc Farmington, CT | $8,150,693 | $60,880,369 |
Royal Charter Properties Inc New York, NY | $137,963,781 | $43,558,448 |
Msmc Residential Realty Llc New York, NY | $105,712,939 | $27,441,000 |
Network Recovery Services Inc New York, NY | $9,165,578 | $32,013,322 |
Bhcare Inc North Haven, CT | $6,550,561 | $27,847,123 |