Bassett Healthcare Network

Legal name: The Mary Imogene Bassett Hospital

Nonprofit profile at a glance

EIN
135596796
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Cooperstown, NY, United States
Phone
1-800-BASSETT (227-7388)
Rating
90
Verdict
STRONG
Rating confidence
Standard
Sector
Hospital, General

Official website

Reported finances

Revenue
$790,743,108
Expenses
$835,237,314
Assets
$430,388,130
Liabilities
$300,855,604

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • Staci Thompson (Network President CEO)
  • Henry Weil MD (BMC President)
  • Tommy Ibrahim MD (Former President)

Highest reported compensation

  • Dhananjai Menzies (Snr Attending Physician): $1,385,752 total reported compensation
  • Mun Hong (Associate Chief): $1,036,197 total reported compensation
  • WT Huntsman (Division Chief Plastic Reconstructive): $965,724 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Bassett's mission is improving the health of our patients and the well-being of our communities. Bassett Healthcare Network (Bassett) is committed to having an effective compliance program and conducting business in an ethical and honest manner within the bounds of the law. This includes compliance with our mission, vision, and values, and with all applicable laws and regulations. Goals of Our Compliance Program Bassett’s Compliance Program has been established to prevent the occurrence of illegal or unethical behavior, to stop any such behavior as soon as reasonably possible after it has been discovered, to discipline the individuals involved (including those who know of violations but fail to report them), and to recommend and implement changes in policy and procedure necessary to avo.

What it reported doing in 2024

Community involvement has been linked to bassett's mission and values since it first opened in 1921. Whether it is strengthening our community relationships for health and wellness, communicating ideas for improving our services to our region, or providing a forum for bassett to learn and listen, we are working with our community to improve the quality of life of the people of our region. Our community services program provides free services to persons who cannot afford to pay, who do not qualify for medicaid, and who fall within the established income guidelines. Bassett's community health education programs include lectures, presentations, health fairs, and other group programs in addition to the clinical and diagnostic services offered. Clinical services offered includes screenings, health tests and health risk appraisals including blood pressure, lipid profile, cholesterol screenings, cardiology risk factor screenings, and all cancer screenings. Our community building activities include philanthropic support for health initiatives and community health and welfare projects including promoting healthy lifestyles, disease prevention, and community awareness initiatives. Our doors are open 24 hours a day, 7 days a week, 365 days a year. We are proud to provide care to our communities.

Operating model

Revenue model
Other-operating. 93% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 96
  • Transparency & Controls: 89
  • Accountability: 93
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.1%; rating input score 95
  • Fundraising efficiency: $58.01 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 88.2%; rating input score 88; 35th 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: -5.6%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 12th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 95.1% of spending went to programs
  • Governance: 15 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $794.7M in reported program spending
  • Leadership: top reported pay $1.4M · 25 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $102.9M reported
  • Consistency: 44 of 45 current checks pass · 1 finding to review
  • Schedules: 11 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 18 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 — Sustainability: Operating margin scored 12/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.