Beaumont Health
- Assets
- $815.4m
- Revenue
- $92.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Southfield, MI
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 46-5718220
Organization Overview
Beaumont Health is located in Southfield, MI. The organization was established in 2014. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Beaumont Health 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 12/2021, Beaumont Health generated $92.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $92.5m during the year ending 12/2021. While expenses have increased by 14.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE OVERSIGHT AND LONG TERM STRATEGIC MANAGEMENT OF BEAUMONT HEALTH'S SUPPORTED ORGANIZATIONS, IN ORDER TO ENHANCE THEIR ABILITY TO CONTINUE 1) TO PROVIDE HIGH QUALITY, EFFICIENT AND ACCESSIBLE HEALTHCARE SERVICES IN A CARING ENVIRONMENT, AND 2) TO BE AN ESSENTIAL CONTRIBUTOR TO THE HEALTH AND WELL-BEING OF INDIVIDUALS AND FAMILIES, REGARDLESS OF THEIR FINANCIAL CIRCUMSTANCES IN THE COMMUNITIES SERVED.
Describe the Organization's Program Activity:
BEAUMONT HEALTH, A MICHIGAN NON-PROFIT CORPORATION, IS THE PARENT CORPORATION OVERSEEING THE TAX-EXEMPT HEALTHCARE SYSTEMS OF BOTSFORD GENERAL HOSPITAL, OAKWOOD HEALTHCARE, INC., AND WILLIAM BEAUMONT HOSPITAL (THE "SUPPORTED ORGANIZATIONS"). THROUGH ITS OVERSIGHT, BEAUMONT HEALTH AND ITS SUPPORTED ORGANIZATIONS PROVIDE HIGH QUALITY, EFFICIENT AND ACCESSIBLE HEALTH SERVICES IN A CARING ENVIRONMENT, FURNISH CHARITY CARE AND COMMUNITY SERVICE, AND ARE ESSENTIAL CONTRIBUTORS TO THE HEALTH AND WELL-BEING OF INDIVIDUALS AND FAMILIES IN THE COMMUNITIES SERVED BY THE SUPPORTED ORGANIZATIONS. BEAUMONT HEALTH MANAGES AND DIRECTS THE SUPPORTED ORGANIZATIONS' DELIVERY OF HEALTH CARE THROUGH PROVIDING LONG-RANGE AND STRATEGIC PLANNING, FINANCIAL CONTROL, AND PROGRAMS AND POLICIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Fox President & CEO | OfficerTrustee | 50 | $0 |
David Wood MD Evp & Cmo (end 8/21) | Trustee | 1 | $0 |
Robert Welsh MD Director (eff 1/1/21) | Trustee | 2 | $0 |
Ashok Jain MD Director (eff 1/1/21) | Trustee | 2 | $0 |
Abedelrahim Asfour MD Director (eff 1/1/21) | Trustee | 2 | $0 |
Harris Mainster DO Director | Trustee | 2 | $33,005 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Express Travel Related Serv Co Ap Payment Program | 12/30/21 | $114,427,097 |
Cardinal Health Pharmaceuticals Services | 12/30/21 | $317,479,182 |
Bank Of America Banking Services | 12/30/21 | $80,338,917 |
Medline Industries Inc Medical Supply Services | 12/30/21 | $49,059,426 |
Medtronic Usa Inc Medical Technology Services | 12/30/21 | $36,856,491 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| 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 | $92,521,029 |
| 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. | $33,005 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,954 |
| Fees for services: Accounting | $1,015,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,054,476 |
| Advertising and promotion | $69,220 |
| Office expenses | $74,963 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,960,261 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,999 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $92,521,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $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 | $815,399,400 |
| Total assets | $815,399,400 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $717,699,191 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $97,700,209 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $815,399,400 |
| Net assets without donor restrictions | $0 |
| 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 | $0 |