Mass General Brigham Incorporated
- Assets
- $7.9b
- Revenue
- $2.2b
- Investments
- $2.2b
- Employees
- 7,466
- Location
- Somerville, MA
- Founding
- 11/2010
- Data as of
- 09/2020
- EIN
- 04-3230035
Organization Overview
Mass General Brigham Incorporated is located in Somerville, MA. The organization was established in 2010. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 09/2021, Mass General Brigham Incorporated employed 7,466 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Mass General Brigham Incorporated 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 09/2020, Mass General Brigham Incorporated generated $2.2b in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $2.3b during the year ending 09/2020. While expenses have increased by 11.8% 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.
Since 2015, Mass General Brigham Incorporated has awarded 524 individual grants totaling $1,384,148,489. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PATIENT CARE, TEACHING, RESEARCH AND SERVING THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Klibanski MD President, CEO & Director | OfficerTrustee | 50 | $4,229,367 |
Peter K Markell Evp, CFO & Treasurer Off 03/31/21 | Officer | 50 | $2,715,239 |
John R Barker Chief Investment Officer | Officer | 50 | $2,684,568 |
Ron M Walls MD Chief Operating Officer | Officer | 50 | $1,908,055 |
Gregg S Meyer MD Msc Chief Clinical Officer | Officer | 50 | $1,792,088 |
Elizabeth L Baldwin Portfolio Manager | 50 | $1,433,006 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Suffolk Construction Company Construction Services | 9/29/21 | $12,498,865 |
Accenture Llp Consulting Services | 9/29/21 | $6,665,613 |
Randstad Healthcare Staffing Services | 9/29/21 | $11,725,130 |
Boathouse Group Inc Marketing Services | 9/29/21 | $4,590,644 |
Southwest Consulting Associates Inc Consulting Services | 9/29/21 | $6,505,794 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,209,696,539 |
| Investment income | $11,285,786 |
| Tax Exempt Bond Proceeds | $15,153 |
| Royalties | $1,158,759 |
| Net Rental Income | $636,741 |
| Net Gain/Loss on Asset Sales | -$86,905,087 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,181,423,789 |
| Statement of Expenses | |
|---|---|
| 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. | $17,031,334 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $506,726,749 |
| Pension plan accruals and contributions | $234,455,272 |
| Other employee benefits | $81,840,863 |
| Payroll taxes | $40,251,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,749,586 |
| Fees for services: Accounting | $1,576,886 |
| Fees for services: Lobbying | $1,535,281 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $91,246,440 |
| Advertising and promotion | $841,073 |
| Office expenses | $59,731,830 |
| Information technology | $117,759,567 |
| Royalties | $0 |
| Occupancy | $15,172,880 |
| Travel | $1,955,171 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $243,057 |
| Interest | $239,371,465 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,353,044 |
| Insurance | $1,814,065 |
| All other expenses | $0 |
| Total functional expenses | $2,300,232,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $295,855,917 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,015,569 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,830,128,726 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $30,223,864 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,212,712,462 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $777,179,353 |
| Total assets | $7,885,097,202 |
| Accounts payable and accrued expenses | $2,701,569,102 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $4,572,912,586 |
| 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 | $2,563,221,054 |
| Total liabilities | $9,837,702,742 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$1,952,605,540 |
Grants Awarded
Over the last fiscal year, Mass General Brigham Incorporated has awarded $79,148,847 in support to 78 organizations.
| Grant Recipient | Amount |
|---|---|
Somerville, MA PURPOSE: EXEMPT AFFILIATE SUPPORT | $35,926,877 |
Somerville, MA PURPOSE: EXEMPT AFFILIATE SUPPORT | $21,731,600 |
Somerville, MA PURPOSE: EXEMPT AFFILIATE SUPPORT | $5,253,072 |
Somerville, MA PURPOSE: EXEMPT AFFILIATE SUPPORT | $3,642,261 |
Somerville, MA PURPOSE: EXEMPT AFFILIATE SUPPORT | $2,000,000 |
Somerville, MA PURPOSE: EXEMPT AFFILIATE SUPPORT | $1,908,741 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Mass General Brigham Incorporated has recieved totaling $725,265.
| Awarding Organization | Amount |
|---|---|
American Medical Association Chicago, IL PURPOSE: REIMAGINING RESIDENCY GRANT | $385,000 |
Institute For Healthcare Improvement Boston, MA PURPOSE: HEALTH CARE | $250,000 |
Cedar Street Charitable Foundation Inc Milwaukee, WI PURPOSE: GENERAL | $50,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $11,765 |
Amg Charitable Gift Foundation Greenwood Village, CO PURPOSE: MEDICAL | $10,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $11,170,715 |
| Earnings | $3,103,948 |
| Net Contributions | $290,131 |
| Other Expense | $428,436 |
| Ending Balance | $14,136,358 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cape Cod Healthcare Inc Hyannis, MA | $1,256,505,571 | $986,611,618 |
Hartford Health Care Corporation Hartford, CT | $2,668,436,051 | $551,640,424 |
Bon Secours Charity Health System Affiliated Group Suffern, NY | $223,032,633 | $606,730,244 |
Wyckoff Heights Medical Center Brooklyn, NY | $318,132,023 | $364,136,906 |
Albany Medical Center Glens Falls, NY | $356,058,419 | $346,451,670 |
Whidden Memorial Hospital Inc Malden, MA | $90,823,513 | $333,237,018 |
Centerlight Healthcare Inc Flushing, NY | $62,373,058 | $284,939,095 |
Albany Medical Center Saratoga Springs, NY | $380,815,690 | $338,787,899 |
Episcopal Health Services Inc Garden City, NY | $212,973,154 | $303,839,103 |
Mass General Brigham Incorporated Boston, MA | $523,876,840 | $299,721,576 |
Trinity Health Of New England Corporation Inc Hartford, CT | $683,679,706 | $237,315,884 |
Albany Med Health System Albany, NY | $312,546,209 | $222,722,582 |