Boston Healthnet Corporation
- Assets
- $1.4m
- Revenue
- $17.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 05/1998
- Data as of
- 09/2021
- EIN
- 04-3279836
Organization Overview
Boston Healthnet Corporation is located in Boston, MA. The organization was established in 1998. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Healthnet Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Boston Healthnet Corporation generated $17.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $17.9m during the year ending 09/2021. While expenses have increased by 0.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER THE CHARITABLE AND EDUCATIONAL MISSIONS OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWO BMC LICENSED MEMBER HEALTH CENTER LABORATORIES ARE UNDER THE SINGLE DIRECTION OF ONE MEDICAL DIRECTOR. INFECTION CONTROL MANAGEMENT IS ALSO PROVIDED TO FOUR BMC LICENSED MEMBER HEALTH CENTERS.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William J Halpin Jr President | OfficerTrustee | 1 | $0 |
Terri Newsom Vice President | OfficerTrustee | 1 | $0 |
Guale Valdez Treasurer | OfficerTrustee | 1 | $0 |
Karen Antman MD Director | Trustee | 1 | $0 |
Michelle Nadow Director | Trustee | 1 | $0 |
Kathleen Walsh Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Family Medicine Association Medical | 9/29/17 | $239,878 |
Family Medicine Association Medical | 9/29/17 | $239,878 |
Bmc Department Of Hospital Epidemiology Laboratory | 9/29/17 | $120,000 |
Bmc Department Of Hospital Epidemiology Laboratory | 9/29/17 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,738,711 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,183,901 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $222,667 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,517 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $164,000 |
| Advertising and promotion | $0 |
| Office expenses | $12,267 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $17,435,503 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $17,926,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,301,048 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $90,400 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,391,448 |
| Accounts payable and accrued expenses | $1,382,113 |
| Grants payable | $0 |
| Deferred revenue | $287,756 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,669,869 |
| Net assets without donor restrictions | -$278,421 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$278,421 |