Baystate Health Foundation Inc
Nonprofit profile at a glance
- EIN
- 043549011
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024
- Location
- Springfield, MA, USA
- Phone
- 4137940000
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Single Organization Support
Reported finances
- Revenue
- $11,782,962
- Expenses
- $9,813,512
- Assets
- $195,383,128
- Liabilities
- $4,141,454
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
27 people listed
Executive titles in this filing
- PETER D BANKO (TRUSTEE/PRESIDENT & CEO - BH)
- MARK A KEROACK MD (FORMER TRUSTEE/PRESIDENT & CEO - BH)
Highest reported compensation
- PETER D BANKO (TRUSTEE/PRESIDENT & CEO - BH): $1,747,717 total reported compensation
- MARK A KEROACK MD (FORMER TRUSTEE/PRESIDENT & CEO - BH): $1,587,700 total reported compensation
- ANDREW ARTENSTEIN MD (TRUSTEE/PRES-BMP/CPE, CAO): $1,411,238 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of baystate health foundation is to inspire a "culture of philanthropy and encourage philanthropic relationships that will support the mission and vision of baystate health which is to improve the health of the people in our communities every day, with quality and compassion.
What it reported doing in 2024
The primary areas of support in 2025 include baystate health family medicine residence program, cancer research, baystate medical center surgical suites, and other patient centered programs and services related to baystate children's hospital, baystate wing hospital, baystate franklin medical center, baystate home, health and hospice (f.k.a. Baystate visiting nurses association & hospice of western new england, inc.)
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
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 fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 76
- Accountability: 69
- Sustainability: 78
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.8%; rating input score 85
- Program expense ratio: 66.5%; rating input score 67
- Fundraising efficiency: $1.49 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 70.6%; rating input score 71; 12th percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 16.7%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 19.91; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 89; 89th percentile among comparable filings
- Officer compensation ratio: 10.8%; rating input score 17; 17th percentile among comparable filings
Growth
- Program expense growth: -2.3% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 5.3% per year; rating input score 100; 47th percentile among comparable filings
- Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings
Details
- Where the money goes: 84.8% of revenue deployed · 66.5% of spending went to programs
- Governance: 12 of 17 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $6.5M in reported program spending
- Leadership: top reported pay $1.7M · 27 people listed · 0 of 6 pay-setting controls reported
- Consistency: 34 of 34 current checks pass
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 13 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- Related organizations: 47 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 4/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 17/100.