The Boston Health Net Corporation

Nonprofit profile at a glance

EIN: 043279836
IRS 990 coverage: 2016–2020
Forms available: Form 990 2020
Location: Boston, MA, USA
Phone: 6176380990
Rating: 76
Verdict: SUPPORTED
Rating confidence: Moderate

Reported finances

Revenue: $17,183,901
Expenses: $17,926,428
Assets: $1,391,448
Liabilities: $1,669,869

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

WILLIAM J HALPIN JR (PRESIDENT)
TERRI NEWSOM (VICE PRESIDENT)

Highest reported compensation

KAREN ANTMAN MD (DIRECTOR): $901,450 total reported compensation
WILLIAM J HALPIN JR (PRESIDENT): $701,521 total reported compensation
FREDERICA WILLIAMS (DIRECTOR): $389,934 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The boston healthnet operates to further the charitable and educational missions of its member institutions and health centers.

What it reported doing in 2020

The healthnet is committed to supporting and promoting the general education and training of primary care and specialty care physicians, the recruitment of such physicians to urban communities, and other programs and services that support the health care needs of urban communities. In pursuit of this commitment, the healthnet provided support to its nine primary partners totaling $15,630,000 in accordance with an agreement of affiliation of the members. In addition, the healthnet has provided support to its two nonmember secondary partners totaling $200,000. The healthnet also participates in a residency and medical training program by providing funding to member health centers for residency and medical education, totaling $901,131 for the year ended september 30, 2021.

Operating model

Revenue model: Affiliate-supported. 92% of the money available for current operations came from contributions from related organizations.
Distribution model: Affiliate network. The nonprofit sent 99% of its reported program spending through affiliated organizations.

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: 88
Transparency & Controls: 65
Accountability: 82
Sustainability: 7
Growth: 100

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 100%; rating input score 100
Program expense ratio: 98.2%; rating input score 98
Fundraising efficiency: Limited

Transparency & Controls

Consistency checks: 100%; rating input score 100; 63rd 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: Limited
Major donor itemization: Yes; rating input score 100
Related-party transparency: Limited

Accountability

Independent voting board: 100%; rating input score 100; 67th percentile among comparable filings
Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- 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: -4.3%; rating input score 12; 12th percentile among comparable filings
Total-asset coverage ratio: 0.08; rating input score 2; 2nd percentile among comparable filings
Liabilities to assets ratio: 1.2; rating input score 4; 4th percentile among comparable filings
Officer compensation ratio: Limited

Growth

Program expense growth: 1% per year; rating input score 100; 24th percentile among comparable filings
Revenue growth: 0.2% per year; rating input score 100; 13th percentile among comparable filings
Asset growth: 7.3% per year; rating input score 100; 55th percentile among comparable filings

Details

Where the money goes: 100% of revenue deployed · 98.2% of spending went to programs
Governance: 15 of 15 board members independent · 5 of 9 filing controls reported
Programs: 2 filed program accomplishments · $17.6M in reported program spending
Leadership: top reported pay $901K · 15 people listed · 0 of 6 pay-setting controls reported
Consistency: 19 of 19 current checks pass
Schedules: 6 filed schedules · includes major donors and executive pay
Filing history: 5 filing years from 2016 to 2020
Contacts: How to reach this organization
Money network: 12 filed money-flow records
Related organizations: 15 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

High — Transparency & Controls: Pay-setting controls scored 0/100.
Review — Accountability: Governance controls: 4 of 9 not reported.
High — Sustainability: Operating margin scored 12/100.
High — Sustainability: Total-asset coverage ratio scored 2/100.
High — Sustainability: Liabilities to assets ratio scored 4/100.
High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.