Bassett Healthcare Network
- Assets
- $73.0m
- Revenue
- $512.1k
- Investments
- $0.0
- Employees
- 15
- Location
- Cooperstown, NY
- Founding
- 12/1984
- Data as of
- 12/2022
- EIN
- 13-3218680
Organization Overview
Bassett Healthcare Network is located in Cooperstown, NY. The organization was established in 1984. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Bassett Healthcare Network employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bassett Healthcare Network 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 12/2022, Bassett Healthcare Network generated $512.1k in total revenue.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MISSION STATEMENT: IMPROVING THE HEALTH OF OUR PATIENTS AND THE WELL-BEING OF OUR COMMUNITIES. VISION: THROUGH ADVANCED INTEGRATED CLINICAL SERVICES, EDUCATION, AND RESEARCH, WE ASPIRE TO BE A MODEL OF EXCELLENCE FOR HEALTH, CREATING REMARKABLE PATIENT EXPERIENCES AND BETTER LIVING.BASSETT HEALTHCARE NETWORK IS THE PARENT ORGANIZATION TO THE MARY IMOGENE BASSETT HOSPITAL (D/B/A BASSETT MEDICAL CENTER), A.O. FOX MEMORIAL HOSPITAL, THE O'CONNOR HOSPITAL, BASSETT HOSPITAL OF SCHOHARIE COUNTY (D/B/A COBLESKILL REGIONAL HOSPITAL), LITTLE FALLS HOSPITAL, VALLEY HEALTH SERVICES, INC., VALLEY RESIDENTIAL SERVICES, FRIENDS OF BASSETT, INC. AND TEMPLETON FOUNDATION PURSUANT TO SECTION 509. THROUGH RESERVE POWERS GIVEN TO THE ORGANIZATION IN THE BYLAWS OF THE SUPPORTED ORGANIZATIONS, THE ORGANIZATION HAS THE POWER TO APPOINT THE DIRECTORS, TRUSTEES, AND PRESIDENTS OF THE SUPPORTED ORGANIZATIONS.
Describe the Organization's Program Activity:
BASSETT HEALTHCARE NETWORK (THE NETWORK), IS A NEW YORK BASED TAX-EXEMPT ORGANIZATION THAT IS THE SOLE MEMBER VARIOUS ORGANIZATIONS THAT WORK TOGETHER AS A SINGLE INTEGRATED HEALTHCARE NETWORK TO DELIVER CARE AND SERVICES TO PEOPLE LIVING IN A 5,600 SQUARE MILE REGION COVERING SEVEN COUNTIES OF UPSTATE AND CENTRAL NEW YORK. REVENUE AND EXPENSES FROM THE INVESTMENT ACTIVITIES ARE USED TO SUPPORT THE ADMINISTRATION OF THE HEALTHCARE NETWORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tommy Ibrahim MD President & CEO | OfficerTrustee | 1 | $970,597 |
Jane Forbes Clark Director | Trustee | 1 | $0 |
Walter Franck MD Director | Trustee | 1 | $0 |
Robert Hanft Director | Trustee | 1 | $0 |
Douglas Hastings Chairman | OfficerTrustee | 1 | $0 |
Kevin S Moore Director | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Optum Insight Revenue Cycle | 12/30/22 | $13,669,013 |
Strongline Llc Security Services | 12/30/22 | $1,164,418 |
Kpmg Audit | 12/30/22 | $372,500 |
Hologic Limited Partnership Laboratory Systems | 12/30/22 | $192,348 |
Hill & Marks Cleaning Services | 12/30/22 | $125,385 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $421,989 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $421,989 |
| Total Program Service Revenue | $60,000 |
| Investment income | $30,082 |
| 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 | $512,071 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $2,793,613 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,006,047 |
| Pension plan accruals and contributions | $134,772 |
| Other employee benefits | $0 |
| Payroll taxes | $205,952 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,100,504 |
| Advertising and promotion | $0 |
| Office expenses | $1,503,023 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $18,743,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,732 |
| Savings and temporary cash investments | $4,168 |
| Pledges and grants receivable | $62,326,946 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,593,927 |
| Prepaid expenses and deferred charges | $395,566 |
| Net Land, buildings, and equipment | $25,837 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,649,883 |
| Total assets | $73,046,059 |
| Accounts payable and accrued expenses | $48,879,227 |
| 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 | $58,996,191 |
| Total liabilities | $107,875,418 |
| Net assets without donor restrictions | -$35,243,475 |
| Net assets with donor restrictions | $414,116 |
| 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 | $73,046,059 |