Baystate Franklin Medical Center

Overview

Mission

The mission of the organization is to improve the health of the people in our communities every day, with quality and compassion.

What it reported doing in 2023

Inpatient healthcare services - providing inpatient community-based medicine and tertiary care to the surrounding region. Services are available to individuals regardless of their ability to pay. During fy24, baystate franklin medical center provided 20,538 patient days of inpatient services, with 4,988 discharges.

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
042103575
IRS 990 coverage
2009–2023
Forms available
Form 990 2023, Form 990-T 2023
Headquarters
Greenfield, MA, USA
Phone
4137940000
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

Official website

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 64
  • Accountability: 77
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.8%; rating input score 88
  • Program expense ratio: 92.4%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 80.6%; rating input score 81; 18th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 76.2%; rating input score 76; 25th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.6%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.67; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 2.2%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: 87.8% of revenue deployed · 92.4% of spending went to programs
  • Governance: 16 of 21 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $123.1M in reported program spending
  • Leadership: top reported pay $2.8M · 37 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $41.9M reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 annual filings from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 19 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

37 people listed

Highest reported compensation

  • MARK A KEROACK MD (TRUSTEE (THRU 6/3/24)/PRESIDENT & CEO - BH): $2,758,272 total reported compensation
  • RAYMOND MCCARTHY (TRUSTEE/SVP, CFO & TREASURER BH): $1,211,162 total reported compensation
  • NICOLAS JABBOUR MD (TRUSTEE (AS OF 1/1/24)/CHAIR DEPT. OF SURGERY): $1,083,422 total reported compensation

Source: IRS Form 990. Selected filing: FY2023.