Baystate Medical Practices Inc

Analysis

Baystate Medical Practices Inc is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in August 1986, 40 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Baystate Medical Practices Inc reported income of $429.1m and spending of $513.6m, spending 120% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $330.1m to $429.1m (+30%), an average of +6.8% a year. Over the whole period it spent 117% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Baystate Medical Practices Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include Piedmont Newnan Hospital Inc ($428.5m), Thedacare Regional Medical Center- Appleton Inc ($429.1m) and Rehabilitation Institute of Chicago ($427.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 2.2% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $11.6m (2.3% of expenses). Other salaries and wages came to $306.3m. At year end it held assets of $83.5m against liabilities of $122.6m, net assets of -$39.0m. It reported 2,366 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.