Civic Intelligence

Bmc Health System Inc

990 • Fiscal year 2015 • EIN 46-3556853

Oct 01, 2014 to Sep 30, 2015 • Filed on Aug 12, 2016

One Boston Medical Center PlaceBoston, MA 02118

(617) 638-7901

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

33rd percentile

0.15x

Higher debt load relative to assets than 33% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

100th percentile

193.10x

Higher debt load relative to revenue than 100% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

1st percentile

-17166%

Higher net margin than 1% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

93rd percentile

$1,409,928

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 2760.9% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2014 to 2015

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2014 to 2015

Assets

Up

$64,009,769

Up $64,009,769 from 2014

Net Assets

Up

$54,148,674

Up $54,148,674 from 2014

Liabilities

Up

$9,861,095

Up $9,861,095 from 2014

Revenue

Up

$51,068

Up $51,068 from 2014

Expenses

Up

$8,817,413

Up $8,817,413 from 2014

Net Income

Down

-$8,766,345

Down $8,766,345 from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0-$20MAssets 2013: $1Liabilities 2013: $0Net Assets 2013: $02013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014Assets 2015: $64,009,769Liabilities 2015: $9,861,095Net Assets 2015: $54,148,6742015Assets 2016: $64,502,942Liabilities 2016: $19,966,522Net Assets 2016: $44,536,4202016Assets 2017: $62,596,773Liabilities 2017: $29,886,525Net Assets 2017: $32,710,2482017Assets 2018: $30,559,471Liabilities 2018: $13,443,732Net Assets 2018: $17,115,7392018Assets 2019: $26,075,339Liabilities 2019: $6,942,836Net Assets 2019: $19,132,5032019Assets 2020: $35,307,136Liabilities 2020: $36,114,808Net Assets 2020: -$807,6722020Assets 2021: $32,089,723Liabilities 2021: $29,723,712Net Assets 2021: $2,366,0112021Assets 2022: $36,520,974Liabilities 2022: $28,637,797Net Assets 2022: $7,883,1772022Assets 2023: $48,781,842Liabilities 2023: $33,504,079Net Assets 2023: $15,277,7632023Assets 2024: $50,816,540Liabilities 2024: $33,336,097Net Assets 2024: $17,480,4432024

Highlighted filing

2015

Assets$64,009,769
Liabilities$9,861,095
Net Assets$54,148,674

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300M$200M$100M$0-$100MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $51,068Expenses 2015: $8,817,413Net Income 2015: -$8,766,3452015Revenue 2016: $55,247Expenses 2016: $11,717,243Net Income 2016: -$11,661,9962016Revenue 2017: $52,672Expenses 2017: $14,990,895Net Income 2017: -$14,938,2232017Revenue 2018: $18,290,998Expenses 2018: $35,783,640Net Income 2018: -$17,492,6422018Revenue 2019: $13,633,075Expenses 2019: $23,573,296Net Income 2019: -$9,940,2212019Revenue 2020: $175,232,629Expenses 2020: $183,215,805Net Income 2020: -$7,983,1762020Revenue 2021: $189,200,474Expenses 2021: $200,143,731Net Income 2021: -$10,943,2572021Revenue 2022: $234,822,561Expenses 2022: $234,205,395Net Income 2022: $617,1662022Revenue 2023: $299,557,088Expenses 2023: $292,162,502Net Income 2023: $7,394,5862023Revenue 2024: $275,159,627Expenses 2024: $272,956,947Net Income 2024: $2,202,6802024

Highlighted filing

2015

Revenue$51,068
Expenses$8,817,413
Net Income-$8,766,345
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Aug 12, 2016
Return Version
2014v6.0
Gross Receipts
$51,068
Mission and Program Overview

Mission

Bmc health system, inc.'s mission is to provide governance, long-term strategic planning, and budgetary and financial assistance for boston medical center corporation and other affiliates that share their mission to support boston medical center corporation.

BMC Health System, Inc.'s mission is to provide governance, long-term strategic planning, and budgetary and financial assistance for Boston Medical Center and its affiliates.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$0$30,948,499▲ $30,948,499
Savings and Temporary Cash Investments$0$28,395,734▲ $28,395,734
Other Notes and Loans Receivable, Net$0$4,665,536▲ $4,665,536
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$0$64,009,769▲ $64,009,769
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$0$9,861,095▲ $9,861,095
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$9,861,095▲ $9,861,095
Net Assets / Fund Balance
Unrestricted Net Assets$0$54,148,674▲ $54,148,674
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$0$54,148,674▲ $54,148,674
Total Liabilities and Net Assets / Fund Balance$0$64,009,769▲ $64,009,769
Compensation and Service Providers

Board Members and Trustees

NameTitle
Edmond EnglishTrustee/chair
Kathleen E WalshPresident/trustee
David AmentTrustee
James PhalenTrustee
Mark NunnellyTrustee
Martha SamuelsonTrustee
Peggy KoenigTrustee
Raymond Hammond MdTrustee
Richard SlifkaTrustee
William R Creevy MdTrustee
Manuel LopesTrustee (as of 03/10/15)
Jack CradockTrustee (until 02/01/15)
David PassafaroTrustee (until 08/11/15)
David BeckClerk
Richard SilveriaTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ochin INCConsulting1881 SW NAITO PARKWAY, Portland, OR 97201$2,131,013
Mckinsey Company INCProf. Services2711 CENTERVILLE ROAD STE 400, Wilmington, DE 19808$1,670,000
Kaufman Hall AssociatesFinancial Analysis5202 OLD ORCHARD RD STE N700, Skokie, IL 60077$1,300,722
Manatt Phelps PhillipLegal Services11355 W OLYMPIC BOULEVARD, Los Angeles, CA 90064$301,916
PricewaterhousecoopersProf. Services3109 W DRMARTIN LUTHER KING JR, Tampa, FL 33607$278,784
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$51,068
Other Revenue
$0
Change in Net Assets
$-8,766,345
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,186,751
Salaries, Compensation, and Employee Benefits$2,630,662
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$3,953,393--$3,953,393
Other Salaries and Wages$2,270,014--$2,270,014
Insurance$1,000,000--$1,000,000
Other Expenses$524,542--$524,542
Other Employee Benefits$360,648--$360,648
Fees for Services Legal$88,905--$88,905
Fees for Services Accounting-$12,360-$12,360
Total Functional Expenses$8,805,053$12,360$0$8,817,413
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Bmc$6,055,693
Due to Fpf$3,197,904
Due to Baco$607,498
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

DAVID PASSAFARO KATHLEEN E. WALSH BUSINESS RELATIONSHIP EACH SERVES AS A DIRECTOR OF BOSTON MEDICAL CENTER INSURANCE COMPANY, LTD. WILLIAM R. CREEVY, MD DAVID BECK BUSINESS RELATIONSHIP - DAVID BECK SERVES AS OFFICER OF BOSTON UNIVERSITY ORTHOPAEDIC SURGICAL ASSOCIATES, INC. WHERE WILLIAM R. CREEVY, MD IS AN EMPLOYEE. CERTAIN OFFICERS AND DIRECTORS OF BMC Health System,Inc. ALSO SERVE AS OFFICERS AND DIRECTORS OF BOSTON MEDICAL CENTER, A RELATED ORGANIZATION. FORM 990, PART VI, LINE 11B BMC HEALTH SYSTEM, INC.'S FORM 990 IS PREPARED BY PRICEWATERHOUSECOOPERS (PWC) AND REVIEWED BY BOSTON MEDICAL CENTER'S (BMC) AND BMC HEALTH SYSTEM'S INTERNAL MANAGEMENT. FOLLOWING THAT REVIEW, BMC'S INTERNAL MANAGEMENT AND PWC PRESENT THE FORM 990 TO THE AUDIT COMMITTEE FOR REVIEW AND COMMENT. THE COMPLETED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO THE FORM BEING FILED WITH THE IRS.

Form 990, Part VI, Line 12C

Conflict of interest questionnaires for the fiscal year ending september 30, 2015 were distributed by bmc's corporate compliance department. The chief compliance officer or her designee queries trustees, officers and directors on at least an annual basis regarding relationships that may create potential conflicts of interest. The chief compliance officer or her designee reviews all disclosures and determines whether there are actual or potential conflicts of interest. The chief compliance officer or her designee informs the chief legal counsel of any actual or potential conflicts of interest. The chief legal counsel advises the board of trustees and officers of the corporation accordingly.

Form 990, Part VI, Line 15 A&B

The officers are not compensated in their capacity as officers of bmc health system, inc. The president, treasurer and clerk are also employees of boston medical center ("bmc"), for which they are compensated. Therefore, their compensation and benefits are determined by bmc.

Form 990, Part VI, Line 19

Bmc health system, inc. Does not make its governing documents, conflict of interest policy, or financial statements publicly available. However, the articles of the organization are posted on the secretary of the commonwealth's website.

Filing and Contact Details

Filer

Filer Name
BMC Health System Inc
EIN
46-3556853
In Care Of
% SUNITA LAU
Phone
6176387901
Address
ONE BOSTON MEDICAL CENTER PLACE, BOSTON, MA 02118

Signing Officer

Name
Richard Silveria
Title
Treasurer
Phone
6176387901
Signed
2016-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen E Walsh
Formed
2013
Legal Domicile
Ma
Voting Board Members
11
Independent Board Members
10
Employees
0
Volunteers
13

Preparer

Firm
PricewaterhouseCoopers LLP
Address
101 SEAPORT BOULEVARD, Boston, MA 02210
Preparer
Pricewaterhousecoopers Llp
Phone
6175305000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Net asset transfer to/from bmc health system $12,000,000 net asset transfer from affiliate to bmc health system $49,398,446 -------------- total $61,398,446

Form 990 Part IX Line 11G

Description:consulting services total fees:3953393

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

The organization's financial statements did not report a liability for uncertain tax positions under fin 48.

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IRS990/Form990PartVIISectionAGrp/PersonNm0EDMOND ENGLISH
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IRS990/Form990PartVIISectionAGrp/PersonNm2DAVID AMENT
IRS990/Form990PartVIISectionAGrp/PersonNm3JACK CRADOCK
IRS990/Form990PartVIISectionAGrp/PersonNm4WILLIAM R CREEVY MD
IRS990/Form990PartVIISectionAGrp/PersonNm5PEGGY KOENIG
IRS990/Form990PartVIISectionAGrp/PersonNm6MARK NUNNELLY
IRS990/Form990PartVIISectionAGrp/PersonNm7DAVID PASSAFARO
IRS990/Form990PartVIISectionAGrp/PersonNm8JAMES PHALEN
IRS990/Form990PartVIISectionAGrp/PersonNm9MARTHA SAMUELSON
IRS990/Form990PartVIISectionAGrp/PersonNm10RICHARD SLIFKA
IRS990/Form990PartVIISectionAGrp/PersonNm11RAYMOND HAMMOND MD
IRS990/Form990PartVIISectionAGrp/PersonNm12MANUEL LOPES
IRS990/Form990PartVIISectionAGrp/PersonNm13RICHARD SILVERIA
IRS990/Form990PartVIISectionAGrp/PersonNm14DAVID BECK
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IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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