Beacon Medical Group Inc
- Assets
- $117.7m
- Revenue
- $186.4m
- Investments
- $0.0
- Employees
- 1,873
- Location
- South Bend, IN
- Founding
- 01/1983
- Data as of
- 12/2022
- EIN
- 35-1536132
Organization Overview
Beacon Medical Group Inc is located in South Bend, IN. The organization was established in 1983. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2023, Beacon Medical Group Inc employed 1,873 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon Medical Group 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 12/2022, Beacon Medical Group Inc generated $186.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $304.2m during the year ending 12/2022. While expenses have increased by 6.9% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE DELIVER OUTSTANDING CARE, INSPIRE HEALTH, AND CONNECT WITH HEART.
Describe the Organization's Program Activity:
BEACON MEDICAL GROUP, INC. (BMG) OPERATES A MULTI-SPECIALTY CARE NETWORK OF PHYSICIANS AND ALSO INCLUDES THE MED-POINT IMMEDIATE CARE CENTERS. IN ADDITION TO THE PHYSICIAN PRACTICES, BMG OPERATES A HIGH COMPLEXITY CORE LABORATORY FOR THE SUPPORT OF ITS EMPLOYED PHYSICIANS. BMG ALSO OPERATES MED-POINT URGENT CARE CENTERS TO SUPPLEMENT THE SERVICES OF THE MEDICAL GROUP. IN ADDITION TO THE CORPORATION'S PRIMARY CARE NETWORK, BMG MANAGES THE OPERATION OF SEVERAL HOSPITAL-BASED PRACTICES FOR THE HOSPITALISTS, TRAUMA ORTHOPEDIC SURGEONS, AND PEDIATRIC INTENSIVISTS.
BEACON MEDICAL GROUP, INC. (BMG) OPERATES A MULTI-SPECIALTY CARE NETWORK, AND ALSO OPERATES THE BEACON MEDICAL GROUP CLINICAL RESEARCH INSTITUTE ("CLINICAL RESEARCH"). CLINICAL RESEARCH IS CURRENTLY FOCUSED ON PHARMACOLOGY STUDIES. THE PHARMACOLOGY STUDIES INVOLVE PATIENTS WITH SPECIFIC CONDITIONS OR DISEASES. CLINICAL RESEARCH HAS BROUGHT THE FOLLOWING POSITIVE BENEFITS TO BMG: IMPROVED PATIENT CARE - BRINGS BMG PHYSICIANS AND NURSES CLOSER TO LEADING-EDGE MEDICINE. CORPORATE POSITIONING - CLINICAL RESEARCH CAN ENHANCE BMG'S IDENTITY AND BRAND, IT CAN PROVIDE A MEANS TO MEET PHYSICIANS' ACADEMIC NEEDS AND ENHANCE PHYSICIAN RECRUITMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary | OfficerTrustee | 2 | $1,108 |
Name Not Listed Vice Chair | OfficerTrustee | 2 | $21,900 |
Name Not Listed Chair | OfficerTrustee | 2 | $150 |
Name Not Listed Director | Trustee | 2 | $150 |
Name Not Listed Director | Trustee | 2 | $749 |
Name Not Listed Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medicus Anesthesia Services Llc Temporary Staffing | 12/30/22 | $7,009,927 |
Hayes Locums Llc Temporary Staffing | 12/30/22 | $4,544,255 |
Elkhart Clinic Llc Medical Billing | 12/30/22 | $4,393,237 |
Obstetrix Medical Group Of Indiana Pc Physician Services | 12/30/22 | $3,533,333 |
Majority Builders Construction | 12/30/22 | $1,760,837 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $112,791 |
| Government grants | $1,496,715 |
| 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 | $1,609,506 |
| Total Program Service Revenue | $184,627,121 |
| Investment income | $49,965 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $17,748 |
| Net Gain/Loss on Asset Sales | $79,429 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $186,390,453 |
| 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. | $784,297 |
| Compensation of current officers, directors, key employees. | $784,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $194,277,320 |
| Pension plan accruals and contributions | $4,406,739 |
| Other employee benefits | $16,197,384 |
| Payroll taxes | $8,754,367 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,633 |
| Fees for services: Accounting | $50,328 |
| Fees for services: Lobbying | $7,773 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,036,081 |
| Advertising and promotion | $29,305 |
| Office expenses | $5,947,060 |
| Information technology | $5,744 |
| Royalties | $0 |
| Occupancy | $3,872,386 |
| Travel | $90,553 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $852,658 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,086,427 |
| Insurance | $3,178,513 |
| All other expenses | $1,256,963 |
| Total functional expenses | $304,195,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $592 |
| Savings and temporary cash investments | $3,967,083 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,077,973 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,260,932 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $925,173 |
| Net Land, buildings, and equipment | $65,376,378 |
| Investments—publicly traded securities | $20,347 |
| Investments—other securities | $0 |
| Investments—program-related | $12,649,960 |
| Intangible assets | $282,676 |
| Other assets | $2,140,668 |
| Total assets | $117,701,782 |
| Accounts payable and accrued expenses | $30,640,416 |
| 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 | $42,809 |
| Total liabilities | $30,683,225 |
| Net assets without donor restrictions | $87,018,557 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $117,701,782 |