Boston Medical Center

What it reported doing in 2024

The statute that authorized the creation of boston medical center requires it to serve all populations. Bmc is a private, not-for-profit, 654-licensed bed, urban academic medical center which emphasizes community-based, accessible care and the mission to provide consistently accessible health services to all in need of care regardless of status and ability to pay. Bmc is the largest safety net hospital in new england and provides a full spectrum of pediatric and adult care services from primary to family medicine to advanced specialty care. Boston medical center is dedicated to providing accessible health care. Nearly 75 percent of our patients come from underserved populations, such as the low-income and elderly, who rely on government payers such as medicaid, the health safety net, and medicare for their coverage; 27 percent do not speak english as a primary language. To address the health needs of diverse patient populations, bmc provides a wide range of services beyond the traditional medical model. These programs, including patient navigation and a food pantry, help to reduce barriers to access to health services and eliminate disparities in health care among various populations that bmc serves.

Financial Efficiency

• Mission deployment rate: 87.9%; rating input score 88
• Program expense ratio: 87.7%; rating input score 88
• Fundraising efficiency: $3.48 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 2 of 8 controls in place; rating input score 25
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Limited
  • Conducts field audits: Limited
  • May suspend future funding: Limited
  • Requires financial reports: Pass
  • Conducts site visits: Limited
  • Requires grant agreements: Limited
  • May require repayment: Limited
• Grant itemization coverage: 100%; rating input score 100; 49th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 83.3%; rating input score 83; 31st percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • 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: 0.2%; rating input score 32; 32nd percentile among comparable filings
• Total-asset coverage ratio: 1.03; rating input score 40; 40th percentile among comparable filings
• Liabilities to assets ratio: 0.54; rating input score 33; 33rd percentile among comparable filings
• Officer compensation ratio: 0.5%; rating input score 85; 85th percentile among comparable filings

Growth

• Program expense growth: 9.1% per year; rating input score 100; 70th percentile among comparable filings
• Revenue growth: 7.8% per year; rating input score 100; 65th percentile among comparable filings
• Asset growth: 3.8% per year; rating input score 100; 26th percentile among comparable filings