Beth Israel Medical Center Holding Corporation

Overview

Mission

B i m c holding corporation will invest in new, existing, and start-up healthcare businesses that are focused on population health management. Key criteria for assessing such opportunities will be their ability to improve the quality of care, drive down the cost of delivering medical care, and expand and improve the access to services for populations which have been historically denied such equality.

What it reported doing in 2024

In september of 2012, bimc holding corporation acquired a 100% interest in a newly formed entity, mount sinai hc ventures, inc. (f/k/a chp ventures, inc). Mount sinai hc ventures, inc. Participates in two management services organization partnerships that provide management services to urgent care centers. During 2015 bimc holding corporation aquired a 10% interest in island ambulatory surgery center, llc, an ambulatory care surgery center located in brooklyn, ny. Bimc holding corporation had no additional investments or divestments during 2024.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

Nonprofit profile at a glance

EIN
133444730
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Headquarters
New York, NY, USA
Phone
6466054217
Rating
28
Verdict
REVIEW
Rating confidence
Moderate

The verdict

REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 63
  • Accountability: 32
  • Sustainability: 2
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 4th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.5; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 26.4% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 38.4% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 0 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.8M · 7 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 annual filings from 2020 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 35 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

7 people listed

Highest reported compensation

  • BETH ESSIG (FORMER OFFICER (END JUL 2022)): $1,840,832 total reported compensation
  • MICHAEL PASTIER (TRUSTEE/TREASURER): $1,456,454 total reported compensation
  • KELLY CASSANO (TRUSTEE/CHAIRMAN): $1,240,197 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.