Beacon Health System Inc
- Assets
- $1.1b
- Revenue
- $210.8m
- Investments
- $479.9m
- Employees
- 1,544
- Location
- South Bend, IN
- Founding
- 09/2012
- Data as of
- 12/2023
- EIN
- 45-3864076
Organization Overview
Beacon Health System Inc is located in South Bend, IN. The organization was established in 2012. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 12/2023, Beacon Health System Inc employed 1,544 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon Health System 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 12/2023, Beacon Health System Inc generated $210.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $187.7m during the year ending 12/2023. While expenses have increased by 11.9% per year over the past 9 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
2023
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:
Part 3 - Line 4a
BEACON HEALTH SYSTEM, INC.(BEACON) IS THE PARENT OF ELKHART GENERAL HOSPITAL, INC., BEACON MEDICAL GROUP, INC., MEMORIAL HOSPITAL OF SOUTH BEND, INC., BEACON HEALTH FOUNDATION, INC., BEACON HEALTH VENTURES, INC., THREE RIVERS HEALTH HOSPITAL, INC., AND COMMUNITY HOSPITAL OF BREMEN, INC. BEACON PROVIDES COORDINATION FOR THE ORGANIZATIONS WITHIN THE SYSTEM IN SUCH MATTERS AS APPROVING BUDGETS, STRATEGIC PLANNING, MARKETING, ALLOCATING RESOURCES, SECURING TAX-EXEMPT BOND FINANCING AND PROVIDING COMMUNITY EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chair | OfficerTrustee | 2 | $1,021 |
Name Not Listed Secretary | OfficerTrustee | 2 | $1,220 |
Name Not Listed Chair | OfficerTrustee | 2 | $225 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $225 |
Name Not Listed Director | Trustee | 2 | $1,220 |
Name Not Listed Director | Trustee | 2 | $225 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Panzica Building Corporation Construction Services | 12/30/23 | $3,567,999 |
Cerner Corporation Is Sftwr Maintenance | 12/30/23 | $10,881,253 |
Medtronic Inc Medical Technology | 12/30/23 | $2,983,391 |
Ge Precision Healthcare Llc Equip Maintenance | 12/30/23 | $2,943,599 |
Ameri Ebo Llc Collection Serviices | 12/30/23 | $3,814,495 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $402,941 |
| Government grants | $648,581 |
| 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 | $1,051,522 |
| Total Program Service Revenue | $164,258,517 |
| Investment income | $13,587,484 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $795,633 |
| Net Gain/Loss on Asset Sales | $12,973,264 |
| Net Income from Fundraising Events | -$106,117 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $210,781,525 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $723,177 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,217,766 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $64,406,285 |
| Pension plan accruals and contributions | $1,801,133 |
| Other employee benefits | $15,647,624 |
| Payroll taxes | $5,384,464 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $787,032 |
| Fees for services: Accounting | $15,252 |
| Fees for services: Lobbying | $31,635 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $48,675 |
| Fees for services: Other | $67,197,219 |
| Advertising and promotion | $1,117,157 |
| Office expenses | $4,821,723 |
| Information technology | $154,222 |
| Royalties | $0 |
| Occupancy | $3,801,460 |
| Travel | $279,358 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $85,844 |
| Interest | $470,201 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,898,262 |
| Insurance | $1,321,683 |
| All other expenses | $40,669 |
| Total functional expenses | $187,666,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,350 |
| Savings and temporary cash investments | $46,008,143 |
| Pledges and grants receivable | $157,574 |
| Accounts receivable, net | $1,644,268 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,159,878 |
| Prepaid expenses and deferred charges | $19,042,853 |
| Net Land, buildings, and equipment | $107,326,835 |
| Investments—publicly traded securities | $378,333,394 |
| Investments—other securities | $479,851,802 |
| Investments—program-related | $35,832,307 |
| Intangible assets | $103,840 |
| Other assets | $44,815,537 |
| Total assets | $1,116,278,781 |
| Accounts payable and accrued expenses | $24,138,709 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $71,426,713 |
| 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 | $3,043,917 |
| Total liabilities | $98,609,339 |
| Net assets without donor restrictions | $1,017,669,442 |
| 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 | $1,116,278,781 |
Grants Awarded
Over the last fiscal year, Beacon Health System Inc has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ECONOMIC DEVELOPMENT CORP OF ELKHART PURPOSE: GENERAL SUPPORT | $10,000 |
PROJECT LEAD THE WAY PURPOSE: GENERAL SUPPORT | $30,000 |