Civic Intelligence

Boston Accountable Care Organization Inc

EIN 47-3468314 • 501(c)3 • Boston, MA

Profile

Baco shall at all times be organized and operated exclusively for charitable, educational and/or scientific purposes within the meaning of section 501(c)(3) of the internal revenue code. The mission of baco is to improve the healthcare of the populations that bmc, fpf physicians, and chcs serve. To provide the best care possible, an accountable care organization is designed to better manage all aspects of healthcare, in an effort to improve the health of the population served while operating more efficiently. Baco will integrate the resources of bmc, the fpf, and the chcs to provide more effective, higher quality and less expensive care for patients of baco.

One Boston Medical Center PlaceBoston, MA 02118

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

93rd percentile

0.97x

Higher debt load relative to assets than 93% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

11.85x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

4th percentile

-81%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

17th percentile

$0

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

84th percentile

25%

Faster asset growth than 84% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

5th percentile

-48%

Faster revenue growth than 5% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$22,870,298

Up $4,609,658 (+25%) from 2023

Liabilities

Up

$22,190,840

Up $6,129,058 (+38%) from 2023

Net Assets

Down

$679,458

Down $1,519,400 (-69%) from 2023

Revenue

Down

$1,873,416

Down $1,758,417 (-48%) from 2023

Expenses

Down

$3,392,816

Down $2,743,521 (-45%) from 2023

Net Income

Up

-$1,519,400

Up $985,104 (+39%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0-$10MAssets 2015: $810,808Liabilities 2015: $1,488,661Net Assets 2015: -$677,8532015Assets 2016: $5,874,921Liabilities 2016: $5,409,089Net Assets 2016: $465,8322016Assets 2017: $10,885,075Liabilities 2017: $11,755,136Net Assets 2017: -$870,0612017Assets 2018: $8,812,733Liabilities 2018: $7,093,060Net Assets 2018: $1,719,6732018Assets 2019: $29,117,050Liabilities 2019: $22,674,365Net Assets 2019: $6,442,6852019Assets 2020: $28,865,430Liabilities 2020: $23,657,790Net Assets 2020: $5,207,6402020Assets 2021: $22,135,062Liabilities 2021: $17,591,717Net Assets 2021: $4,543,3452021Assets 2022: $29,651,949Liabilities 2022: $24,948,587Net Assets 2022: $4,703,3622022Assets 2023: $18,260,640Liabilities 2023: $16,061,782Net Assets 2023: $2,198,8582023Assets 2024: $22,870,298Liabilities 2024: $22,190,840Net Assets 2024: $679,4582024

Highlighted filing

2024

Assets$22,870,298
Liabilities$22,190,840
Net Assets$679,458

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MRevenue 2015: $359,505Expenses 2015: $336,545Net Income 2015: $22,9602015Revenue 2016: $1,736,009Expenses 2016: $2,539,800Net Income 2016: -$803,7912016Revenue 2017: $3,397,559Expenses 2017: $5,903,018Net Income 2017: -$2,505,4592017Revenue 2018: $2,064,751Expenses 2018: $4,304,841Net Income 2018: -$2,240,0902018Revenue 2019: $15,381,190Expenses 2019: $20,316,312Net Income 2019: -$4,935,1222019Revenue 2020: $7,646,247Expenses 2020: $8,881,292Net Income 2020: -$1,235,0452020Revenue 2021: $3,965,825Expenses 2021: $4,630,120Net Income 2021: -$664,2952021Revenue 2022: $2,484,776Expenses 2022: $2,324,759Net Income 2022: $160,0172022Revenue 2023: $3,631,833Expenses 2023: $6,136,337Net Income 2023: -$2,504,5042023Revenue 2024: $1,873,416Expenses 2024: $3,392,816Net Income 2024: -$1,519,4002024

Highlighted filing

2024

Revenue$1,873,416
Expenses$3,392,816
Net Income-$1,519,400

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Aug 14, 2025
Return Version
2023v6.0
Gross Receipts
$1,873,416
Mission and Program Overview

Mission

Baco shall at all times be organized and operated exclusively for charitable, educational and/or scientific purposes within the meaning of section 501(c)(3) of the internal revenue code. The mission of baco is to improve the healthcare of the populations that bmc, fpf physicians, and chcs serve. To provide the best care possible, an accountable care organization is designed to better manage all aspects of healthcare, in an effort to improve the health of the population served while operating more efficiently. Baco will integrate the resources of bmc, the fpf, and the chcs to provide more effective, higher quality and less expensive care for patients of baco.

Boston accountable care organization, inc. Shall at all times be organized and operated exclusively for charitable, educational and/or scientific purposes within the meaning of section 501(c)(3) of the internal revenue code. The mission of baco is to improve the healthcare of the populations that boston medical center corporation (bmc), the faculty practice foundation, inc. (fpf) physicians, and community health centers (chcs) serve. To provide the best care possible, an accountable care organization (aco) is designed to better manage all aspects of healthcare, in an effort to improve the health of the population served while operating more efficiently. Baco will integrate the resources of bmc, the fpf, and the chcs to provide more effective, higher quality and less expensive care for patients of baco.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$13,214,228$19,696,773▲ $6,482,545
Accounts Receivable$1,972,394$0▼ $1,972,394
Total Assets$18,260,640$22,870,298▲ $4,609,658
Other Assets Total$3,074,018$3,173,525▲ $99,507
Liabilities
Other Liabilities$12,925,530$17,707,755▲ $4,782,225
Deferred Revenue$3,135,715$2,898,366▼ $237,349
Accounts Payable and Accrued Expenses$537$1,584,719▲ $1,584,182
Total Liabilities$16,061,782$22,190,840▲ $6,129,058
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,198,858$679,458▼ $1,519,400
Total Net Assets Fund Balance$2,198,858$679,458▼ $1,519,400
Total Liabilities and Net Assets / Fund Balance$18,260,640$22,870,298▲ $4,609,658

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$216,232--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Cynthia SierraPresident/director
Alastair Bell MdDirector
Amy PfefferDirector
Charles MurphyDirector
Chuck JonesDirector
David Henderson MdDirector
Guale ValdezDirector
Julie AlmondDirector
Kelly LannuttiDirector
Michelle NadowDirector
Ravin Davidoff MdDirector
Sherry EllisDirector
Spiros HatirasDirector
Thea James MdDirector
William J Halpin JrDirector
Denise DelanuecesDirector (as of 1/24/24)
Stephanie SullivanDirector (thru 11/1/23)
Terri NewsomDirector (thru 6/30/24)
Sandra CotterellDirector (thru 8/1/24)
Christian BrownDirector (thru 8/24/2024)
William Creevy MdTreasurer/director
David BeckClerk

Highest Paid Contractors

ContractorServicesLocationCompensation
Smc Partners LLCBusiness Consulting & Services10 COLUMBUS BLVD 9TH FLOOR, Hartford, CT 06106$255,500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,233,350
Investment Income
$640,066
Other Revenue
$0
Change in Net Assets
$-1,519,400
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,460,849
Salaries, Compensation, and Employee Benefits$931,967
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$2,164,999--$2,164,999
Other Salaries and Wages$727,872--$727,872
Fees for Services Other$258,353--$258,353
Other Employee Benefits$204,095--$204,095
All Other Expenses$25,930--$25,930
Fees for Services Accounting-$10,200-$10,200
Travel$733--$733
Occupancy$634--$634
Total Functional Expenses$3,382,616$10,200$0$3,392,816
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$9,038,749
Contract Accruals$8,669,006
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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 beck alastair bell michelle nadow sandra cotterell ravin davidoff terri newsom cynthia sierra business relationship- the officers or directors above are also employees, officers or trustees of boston medical center corporation. David beck alastair bell william creevy david henderson business relationship - the officers or directors above are also employees, officers or trustees of the faculty practice plans.

Form 990, Part VI, Section A, Line 7A

(a) each community health center participating in the corporation that participates in the masshealth aco appoints one director; (b) boston medical center appoints four directors; (c) each non-community health center entity participating in the corporation that participates in the masshealth aco appoints one director (except that the boston university medical group appoints four directors to represent its faculty practice plan corporation participants); and (d) the corporation's patient advisory committee appoints one director who is a consumer representative.

Form 990, Part VI, Section B, Line 11B

Baco's form 990 is prepared by kpmg and reviewed by bmc health system inc.'s internal management. Following that review, bmc health system inc.'s internal management and kpmg present the form 990 to the bmc health system inc.'s audit and compliance committee for review and comment. The completed form 990 is provided to all members of the baco board of directors prior to the form being filed with the irs.

Form 990, Part VI, Section B, Line 12C

Conflict of interest questionnaires for the fiscal year ending september 30, 2024 were distributed by bmc health system inc.'s, an affiliated organization, corporate compliance department. The chief compliance officer of bmc health system inc. Or the chief compliance officer's 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 the chief compliance officer's designee reviews all disclosures and determines whether there are actual or potential conflicts of interest. The chief compliance officer or the chief compliance officer's designee informs the chief legal counsel of any actual or potential conflicts of interest. The chief legal counsel advises the board of directors and officers of the corporation accordingly. Form 990, part vi, line 14 the organization does not have a record retention policy but has record retention requirements included within its contracts. Boston accountable care organization, inc. Follows the record retention policy of boston medical center.

Form 990, Part VI, Section C, Line 19

Baco does not make its governing documents, conflict of interest policy, or financial statements publicly available. However, the articles of the organization are available on the secretary of the commonwealth's website.

Filing and Contact Details

Filer

Filer Name
Boston Accountable Care
EIN
47-3468314
Phone
6176387901
Address
ONE BOSTON MEDICAL CENTER PLACE, BOSTON, MA 02118

Signing Officer

Name
David Beck
Title
Clerk
Phone
6176387901
Signed
2025-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cynthia Sierra
Formed
2015
Legal Domicile
Ma
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
25

Preparer

Firm
Kpmg Llp
Address
60 SOUTH STREET TWO FINANCIAL, CENTER, BOSTON, MA 02111
Preparer
Kristin Anderson
Phone
6179881000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Boston accountable care organization, inc. Is included in the consolidated financial statements of bmc health system (bmchs). These statements include the following language regarding liability for uncertain tax positions within the income taxes footnote. Bmchs recognizes income tax positions when it is more likely than not that the position will be sustainable based on the merits of the position. Management has concluded that there are no material uncertain tax positions that need to be recorded as of september 30, 2024 and 2023. Bmchs annually assesses whether it must recognize ubit expense. The amounts recognized as ubit expense were not material to bmchs's consolidated operations or changes in net assets for the years ended september 30, 2024 and 2023.

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IRS990/ActivityOrMissionDesc0BOSTON ACCOUNTABLE CARE ORGANIZATION, INC. SHALL AT ALL TIMES BE ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND/OR SCIENTIFIC PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MISSION OF BACO IS TO IMPROVE THE HEALTHCARE OF THE POPULATIONS THAT BOSTON MEDICAL CENTER CORPORATION (BMC), THE FACULTY PRACTICE FOUNDATION, INC. (FPF) PHYSICIANS, AND COMMUNITY HEALTH CENTERS (CHCS) SERVE. TO PROVIDE THE BEST CARE POSSIBLE, AN ACCOUNTABLE CARE ORGANIZATION (ACO) IS DESIGNED TO BETTER MANAGE ALL ASPECTS OF HEALTHCARE, IN AN EFFORT TO IMPROVE THE HEALTH OF THE POPULATION SERVED WHILE OPERATING MORE EFFICIENTLY. BACO WILL INTEGRATE THE RESOURCES OF BMC, THE FPF, AND THE CHCS TO PROVIDE MORE EFFECTIVE, HIGHER QUALITY AND LESS EXPENSIVE CARE FOR PATIENTS OF BACO.
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IRS990/Form990PartVIISectionAGrp/PersonNm7SHERRY ELLIS
IRS990/Form990PartVIISectionAGrp/PersonNm8WILLIAM J HALPIN JR
IRS990/Form990PartVIISectionAGrp/PersonNm9SPIROS HATIRAS
IRS990/Form990PartVIISectionAGrp/PersonNm10DAVID HENDERSON MD
IRS990/Form990PartVIISectionAGrp/PersonNm11THEA JAMES MD
IRS990/Form990PartVIISectionAGrp/PersonNm12CHUCK JONES
IRS990/Form990PartVIISectionAGrp/PersonNm13KELLY LANNUTTI
IRS990/Form990PartVIISectionAGrp/PersonNm14CHARLES MURPHY
IRS990/Form990PartVIISectionAGrp/PersonNm15MICHELLE NADOW
IRS990/Form990PartVIISectionAGrp/PersonNm16TERRI NEWSOM
IRS990/Form990PartVIISectionAGrp/PersonNm17AMY PFEFFER
IRS990/Form990PartVIISectionAGrp/PersonNm18CYNTHIA SIERRA
IRS990/Form990PartVIISectionAGrp/PersonNm19STEPHANIE SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm20GUALE VALDEZ
IRS990/Form990PartVIISectionAGrp/PersonNm21DAVID BECK
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR (THRU 8/24/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR (THRU 8/1/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR (AS OF 1/24/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR (THRU 6/30/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18PRESIDENT/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR (THRU 11/1/23)
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21CLERK
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IRS990/MissionDesc0BACO SHALL AT ALL TIMES BE ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND/OR SCIENTIFIC PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE MISSION OF BACO IS TO IMPROVE THE HEALTHCARE OF THE POPULATIONS THAT BMC, FPF PHYSICIANS, AND CHCS SERVE. TO PROVIDE THE BEST CARE POSSIBLE, AN ACCOUNTABLE CARE ORGANIZATION IS DESIGNED TO BETTER MANAGE ALL ASPECTS OF HEALTHCARE, IN AN EFFORT TO IMPROVE THE HEALTH OF THE POPULATION SERVED WHILE OPERATING MORE EFFICIENTLY. BACO WILL INTEGRATE THE RESOURCES OF BMC, THE FPF, AND THE CHCS TO PROVIDE MORE EFFECTIVE, HIGHER QUALITY AND LESS EXPENSIVE CARE FOR PATIENTS OF BACO.
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1MANAGED CARE RISK CONTRACTS
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