Boston Medical Center Health Plan Inc

Analysis

Boston Medical Center Health Plan Inc is a registered charity in United States, based in Charlestown, MA. It received its IRS tax-exemption ruling in July 2000, 26 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Boston Medical Center Health Plan Inc reported income of $4.14bn and spending of $4.02bn, spending 97% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.66bn to $4.14bn (+56%), an average of +12% a year. The sharpest change came in the year to September 2023, when income rose by 36%. Over the whole period it spent 98% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Boston Medical Center Health Plan Inc sits at the 100th percentile: it is one of the largest 1% in its cause. 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 Novant Health Inc ($4.02bn), Scripps Health ($4.14bn) and Sentara Hospitals ($3.99bn).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $5.4m (0.1% of expenses). Other salaries and wages came to $113.8m. At year end it held assets of $1.66bn against liabilities of $979.6m, net assets of $681.6m. It reported 1,292 employees.