Beaumont Health
- Assets
- $844.5m
- Revenue
- $43.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Southfield, MI
- Founding
- 08/2014
- Data as of
- 12/2020
- EIN
- 46-5718220
Organization Overview
Beaumont Health is located in Southfield, MI. The organization was established in 2014. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beaumont Health 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 12/2020, Beaumont Health generated $43.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $43.7m during the year ending 12/2020. While expenses have increased by 3.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE OVERSIGHT AND LONG TERM STRATEGIC MANAGEMENT OF BEAUMONT HEALTH'S SUPPORTED ORGANIZATIONS, IN ORDER TO ENHANCE THEIR ABILITY TO CONTINUE 1) TO PROVIDE HIGH QUALITY, EFFICIENT AND ACCESSIBLE HEALTHCARE SERVICES IN A CARING ENVIRONMENT, AND 2) TO BE AN ESSENTIAL CONTRIBUTOR TO THE HEALTH AND WELL-BEING OF INDIVIDUALS AND FAMILIES, REGARDLESS OF THEIR FINANCIAL CIRCUMSTANCES IN THE COMMUNITIES SERVED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEAUMONT HEALTH, A MICHIGAN NON-PROFIT CORPORATION, IS THE PARENT CORPORATION OVERSEEING THE TAX-EXEMPT HEALTHCARE SYSTEMS OF BOTSFORD GENERAL HOSPITAL, OAKWOOD HEALTHCARE, INC., AND WILLIAM BEAUMONT HOSPITAL (THE "SUPPORTED ORGANIZATIONS"). THROUGH ITS OVERSIGHT, BEAUMONT HEALTH AND ITS SUPPORTED ORGANIZATIONS PROVIDE HIGH QUALITY, EFFICIENT AND ACCESSIBLE HEALTH SERVICES IN A CARING ENVIRONMENT, FURNISH CHARITY CARE AND COMMUNITY SERVICE, AND ARE ESSENTIAL CONTRIBUTORS TO THE HEALTH AND WELL-BEING OF INDIVIDUALS AND FAMILIES IN THE COMMUNITIES SERVED BY THE SUPPORTED ORGANIZATIONS. BEAUMONT HEALTH MANAGES AND DIRECTS THE SUPPORTED ORGANIZATIONS' DELIVERY OF HEALTH CARE THROUGH PROVIDING LONG-RANGE AND STRATEGIC PLANNING, FINANCIAL CONTROL, AND PROGRAMS AND POLICIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harris Mainster DO Director | Trustee | 2 | $33,005 |
John Fox President & CEO | OfficerTrustee | 50 | $0 |
John Nemes Secretary / Treasurer | OfficerTrustee | 2 | $0 |
Diane Roth Evp & CFO (eff 4/21) | Officer | 24 | $0 |
John Kerndl Evp & CFO (end 3/21) | Officer | 22 | $0 |
Ashok Jain MD Director (eff 1/1/21) | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bank Of America Banking Services | 12/30/21 | $80,338,917 |
Medtronic Usa Inc Medical Technology Services | 12/30/21 | $36,856,491 |
Cardinal Health Pharmaceuticals Services | 12/30/21 | $317,479,182 |
American Express Travel Related Serv Co Ap Payment Program | 12/30/21 | $114,427,097 |
Medline Industries Inc Medical Supply Services | 12/30/21 | $49,059,426 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $43,728,436 |
| Investment income | $0 |
| 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 | $43,728,436 |
| 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. | $96,486 |
| Compensation of current officers, directors, key employees. | $96,486 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $150,278 |
| Fees for services: Accounting | $705,601 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,892,227 |
| Advertising and promotion | $108,477 |
| Office expenses | $131,017 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,032,269 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $106,766 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $33,671 |
| Total functional expenses | $43,728,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $844,473,041 |
| Total assets | $844,473,041 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $744,951,740 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $99,521,301 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $844,473,041 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $844,473,041 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Beaumont Health has recieved totaling $59,614.
| Awarding Organization | Amount |
|---|---|
United Jewish Foundation Bloomfield Hills, MI PURPOSE: TO SUPPORT HEALTH CARE | $40,000 |
American Cancer Society Inc Kennesaw, GA PURPOSE: Patient Support | $10,000 |
Community Foundation Of St Clair County Port Huron, MI PURPOSE: FRONTLINE WORKERS' MEALS (COVID) | $9,614 |
Endowment Analysis
| Beg. Balance | $93,811,553 |
| Earnings | $15,216,817 |
| Net Contributions | $1,926,649 |
| Other Expense | $567,934 |
| Ending Balance | $110,387,085 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beaumont Health Southfield, MI | $844,473,041 | $43,728,436 |
Elizabeth Gamble Deaconess Home Association Cincinnati, OH | $1,636,339,650 | $77,696,826 |
Gundersen Lutheran Medical Foundation Inc La Crosse, WI | $92,389,553 | $52,203,030 |
Community Health Network Foundation Inc Indianapolis, IN | $96,702,775 | $20,395,245 |
Metrohealth Foundation Inc Cleveland, OH | $88,791,792 | $21,235,092 |
Community First Solutions Hamilton, OH | $99,479,120 | $13,306,151 |
Fund For Medical Research And Education Detroit, MI | $30,425,506 | $9,049,534 |
Pulaski Health Foundation Inc Winamac, IN | $8,480,545 | $8,038,166 |
Healthcare Foundation Of La Porte Inc La Porte, IN | $192,768,600 | $27,903,057 |
Legacy Foundation Of Central Wisconsin Inc Wisconsin Rapids, WI | $142,600,446 | $4,980,958 |
Metro Solutions Inc Southfield, MI | $8,153,189 | $9,205,268 |
Marshfield Clinic Health System Foundation Inc Marshfield, WI | $149,772,122 | $21,068,703 |