Baystate Health Foundation Inc
- Assets
- $158.2m
- Revenue
- $19.2m
- Investments
- $27.9m
- Employees
- 29
- Location
- Springfield, MA
- Founding
- 03/2001
- Data as of
- 09/2023
- EIN
- 04-3549011
Organization Overview
Baystate Health Foundation Inc is located in Springfield, MA. The organization was established in 2001. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 09/2023, Baystate Health Foundation Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baystate Health Foundation Inc 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 09/2023, Baystate Health Foundation Inc generated $19.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $8.5m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Baystate Health Foundation Inc has awarded 57 individual grants totaling $57,746,160. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF BAYSTATE HEALTH FOUNDATION IS TO INSPIRE A "CULTURE OF PHILANTHROPY AND ENCOURAGE PHILANTHROPIC RELATIONSHIPS THAT WILL SUPPORT THE MISSION AND VISION OF BAYSTATE HEALTH WHICH IS TO IMPROVE THE HEALTH OF THE PEOPLE IN OUR COMMUNITIES EVERY DAY, WITH QUALITY AND COMPASSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY AREAS OF SUPPORT IN 2023 INCLUDE BAYSTATE HEALTH FAMILY MEDICINE RESIDENCE PROGRAM, MOBILE HEALTH, CANCER RESEARCH AND OTHER PATIENT CENTERED PROGRAMS AND SERVICES, BAYSTATE CHILDREN'S HOSPITAL, BAYSTATE WING HOSPITAL, BAYSTATE FRANKLIN MEDICAL CENTER, BAYSTATE HOME, HEALTH AND HOSPICE (F.K. A. BAYSTATE VISITNG NURSEES ASSOCIATION & HOPSICE OF WESTERN NEW ENGLAND, INC.)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marion Mcgowan Trustee (thru 12/31/22)/evp, Coo-Bh | Trustee | 1 | $0 |
Mark A Keroack MD Trustee/president & CEO - Bh | OfficerTrustee | 1 | $0 |
Andrew Artenstein MD Trustee/pres-Bmp/cpe, Cao | Trustee | 1 | $0 |
Raymond Mccarthy Trustee/svp, CFO & Treasurer Bh | OfficerTrustee | 1 | $0 |
Scott Berg Trustee/vp Philanthropy | Trustee | 50 | $0 |
Samuel Skura Trustee (as Of 4/5/23)/pres Bmc SVP | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,003 |
| Membership dues | $0 |
| Fundraising events | $928,945 |
| Related organizations | $65,000 |
| Government grants | $161,327 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,233,746 |
| Noncash contributions included in lines 1a–1f | $1,135,133 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,390,021 |
| Total Program Service Revenue | $2,200,000 |
| Investment income | $1,650,876 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,981,360 |
| Net Income from Fundraising Events | -$72,249 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,230,995 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,312,289 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,840,976 |
| Pension plan accruals and contributions | $56,254 |
| Other employee benefits | $389,462 |
| Payroll taxes | $122,823 |
| Fees for services: Management | $148,760 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $138,774 |
| Advertising and promotion | $2,500 |
| Office expenses | $233,359 |
| Information technology | $104,969 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,104 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,267 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,986 |
| Insurance | $4,603 |
| All other expenses | $0 |
| Total functional expenses | $8,489,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,702 |
| Savings and temporary cash investments | $17,016,622 |
| Pledges and grants receivable | $9,520,924 |
| Accounts receivable, net | $161,036 |
| 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 | $99,943 |
| Net Land, buildings, and equipment | $37 |
| Investments—publicly traded securities | $63,462,061 |
| Investments—other securities | $27,889,731 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,010,639 |
| Total assets | $158,241,695 |
| Accounts payable and accrued expenses | $2,139,020 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,330,795 |
| Total liabilities | $3,469,815 |
| Net assets without donor restrictions | $14,418,457 |
| Net assets with donor restrictions | $140,353,423 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $158,241,695 |
Grants Awarded
Over the last fiscal year, Baystate Health Foundation Inc has awarded $5,312,289 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BAYSTATE MEDICAL CENTER PURPOSE: TO SUPPORT EDUCATION, RESEARCH, CLINICAL AND HEALTHCARE PROGRAMS. | $2,155,404 |
BAYSTATE MEDICAL PRACTICES PURPOSE: TO SUPPORT EDUCATION, RESEARCH, CLINICAL AND HEALTHCARE PROGRAMS. | $1,462,677 |
BAYSTATE FRANKLIN MEDICAL CENTER PURPOSE: TO SUPPORT EDUCATION, RESEARCH, CLINICAL AND HEALTHCARE PROGRAMS. | $462,545 |
BAYSTATE HEALTH INC PURPOSE: TO SUPPORT EDUCATION, RESEARCH, CLINICAL AND HEALTHCARE PROGRAMS. | $659,911 |
BAYSTATE NOBLE HOSPITAL CORPORATION PURPOSE: TO SUPPORT EDUCATION, RESEARCH, CLINICAL AND HEALTHCARE PROGRAMS. | $208,366 |
BAYSTATE WING HOSPITAL CORPORATION PURPOSE: TO SUPPORT EDUCATION, RESEARCH, CLINICAL AND HEALTHCARE PROGRAMS. | $220,004 |