Holyoke Medical Center
Legal name: Holyoke Medical Center Inc
Nonprofit profile at a glance
- EIN
- 222520073
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Holyoke, MA, US
- Phone
- (413) 534-2500
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Hospital, General
Reported finances
- Revenue
- $306,197,810
- Expenses
- $321,259,834
- Assets
- $144,653,522
- Liabilities
- $83,311,600
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- Spiridon E Hatiras (President & CEO, Clerk)
Highest reported compensation
- Frederik Pennings MD (Neurosurgeon): $1,436,064 total reported compensation
- Noah J Epstein MD (Orthopedic Surgeon): $1,143,783 total reported compensation
- Spiridon E Hatiras (President & CEO, Clerk): $983,904 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide high-quality, compassionate healthcare to the communities we serve.
What it reported doing in 2024
Holyoke Medical Center, Inc. (HMC) strives to serve the health needs of their medical service community in a high quality and efficient manner. To this end, HMC shall: (1) provide compassionate care to all of whom it serves with a commitment to developing cultural diversity and competencies in our programs and workforce so that we may better serve our patients; (2) identify and serve those needs which are prevalent and substantial in the community as a whole, or within major population groups, and which can be adequately met by the provision of basic primary and secondary health care services; (3) provide information, education, and expertise to our community in order to promote the general health of its citizens; (4) provide an environment of excellence and growth in which health care professionals can use their skills and abilities to the fullest extent possible; (5) provide competitive wages and benefits, as well as safe and dignified working conditions, for all employees; (6) ensure financial responsibility in the operation of the medical center in order to guarantee the future viability of our mission; (7) provide a formal, public, and ongoing program of community benefits, in cooperation with community individuals and organizations, to improve the health status of the public including especially the medically and economically vulnerable. Holyoke Medical Center, Inc. provided inpatient, outpatient, OB/GYN, and emergency healthcare services and certain physician services to the residents of Holyoke, Massachusetts and the surrounding communities. Inpatient healthcare services included medical, surgical, critical care, cardiac, obstetrical, psychiatric, and oncology services. During FY 2025, HMC provided 43,931 patient days of inpatient services with 7,686 discharges. Outpatient healthcare services included a full array of diagnostic, therapeutic, and behavioral health services. During FY 2025, HMC had 461,203 outpatient visits. Emergency services were provided by a 24-hour emergency department. During FY 2025, HMC had 44,069 emergency department visits.
Operating model
- Revenue model
- Other-operating. 99% of the money available for current operations came from other operating 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.
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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 79
- Transparency & Controls: 71
- Accountability: 70
- Sustainability: 21
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 90.7%; rating input score 91
- Program expense ratio: 86.4%; rating input score 86
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th 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; 77th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 64.3%; rating input score 64; 18th 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: -4.9%; rating input score 13; 13th percentile among comparable filings
- Total-asset coverage ratio: 0.45; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: 0.58; rating input score 30; 30th percentile among comparable filings
- Officer compensation ratio: 1.9%; rating input score 57; 57th percentile among comparable filings
Growth
- Program expense growth: 8.9% per year; rating input score 100; 69th percentile among comparable filings
- Revenue growth: 6.5% per year; rating input score 100; 56th percentile among comparable filings
- Asset growth: 6.2% per year; rating input score 100; 46th percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 90.7% of revenue deployed · 86.4% of spending went to programs
- Governance: 9 of 14 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $277.6M in reported program spending
- Leadership: top reported pay $1.4M · 20 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $12.5M reported
- Consistency: 38 of 38 current checks pass
- Schedules: 10 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 11 filed money-flow records
- Related organizations: 10 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 13/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Total-asset coverage ratio scored 16/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
- Review — Sustainability: Officer compensation ratio scored 57/100.