Civic Intelligence

Boston Accountable Care Organization Inc.

990 • Fiscal year 2016 • EIN 47-3468314

Oct 01, 2015 to Sep 30, 2016 • Filed on Aug 10, 2017

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

89th percentile

0.92x

Higher debt load relative to assets than 89% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

91st percentile

3.12x

Higher debt load relative to revenue than 91% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

7th percentile

-46%

Higher net margin than 7% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

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

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

99th percentile

625%

Faster asset growth than 99% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

98th percentile

383%

Faster revenue growth than 98% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Up

$5,874,921

Up $5,064,113 (+625%) from 2015

Net Assets

Up

$465,832

Up $1,143,685 (+169%) from 2015

Liabilities

Up

$5,409,089

Up $3,920,428 (+263%) from 2015

Revenue

Up

$1,736,009

Up $1,376,504 (+383%) from 2015

Expenses

Up

$2,539,800

Up $2,203,255 (+655%) from 2015

Net Income

Down

-$803,791

Down $826,751 (-3601%) from 2015

Historical Trend

Balance Sheet Trend

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

$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

2016

Assets$5,874,921
Liabilities$5,409,089
Net Assets$465,832

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2016

Revenue$1,736,009
Expenses$2,539,800
Net Income-$803,791
Jump To
Filing Snapshot
Filing Period
Oct 1, 2015 to Sep 30, 2016
Signed
Aug 10, 2017
Return Version
2015v3.0
Gross Receipts
$1,736,009
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$810,808$5,793,615▲ $4,982,807
Cash and Non-Interest-Bearing Accounts$0$81,306▲ $81,306
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$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$810,808$5,874,921▲ $5,064,113
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,103,212$2,722,692▲ $1,619,480
Other Liabilities$385,449$2,686,397▲ $2,300,948
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$1,488,661$5,409,089▲ $3,920,428
Net Assets / Fund Balance
Unrestricted Net Assets$-677,853$465,832▲ $1,143,685
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$-677,853$465,832▲ $1,143,685
Total Liabilities and Net Assets / Fund Balance$810,808$5,874,921▲ $5,064,113
Compensation and Service Providers

Board Members and Trustees

NameTitle
Sandra CotterellPresident/director
Alastair BellDirector
Azzie YoungDirector
Barbara LotteroDirector
Charles WilliamsDirector
Francis DoyleDirector
Jonathan S OlshakerDirector
Mark DoveyDirector
Michelle NadowDirector
Paul M HendessiDirector
Ravin DavidoffDirector
Richard SilveriaDirector
Stanley HochbergDirector
Thea JamesDirector
William J Halpin JrDirector
Christopher BrandonDirector (AS OF 2/2016)
Jason WorcesterDirector (as of 3/2016)
Charlotte WuDirector (until 1/2016)
William R CreevyTreasurer/director
Thomas TraylorVice Presdient/director
David BeckClerk

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,736,009
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-803,791
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,689,396
Salaries, Compensation, and Employee Benefits$850,404
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$698,934--$698,934
Fees for Services Management-$277,754-$277,754
Other Employee Benefits$151,470--$151,470
Information Technology$64,625--$64,625
Fees for Services Other$55,068--$55,068
Office Expenses$39,188--$39,188
Fees for Services Accounting-$32,075-$32,075
All Other Expenses$8,554--$8,554
Conferences and Meetings$8,123--$8,123
Other Expenses$5,121--$5,121
Total Functional Expenses$2,229,971$309,829$0$2,539,800
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
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$1,472,210
Due to Bmc Mso$1,214,187
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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, Line 12C

Conflict of interest questionnaires for the fiscal year ending september 30, 2016 were distributed by boston medical center's ("bmc"), an affiliated organization, corporate compliance department. The chief compliance officer of bmc 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 19

Baco 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. Form 990, part xi, line 9 transfer of contract $1,947,476 ------------- total $1,947,476

Filing and Contact Details

Filer

Filer Name
Boston Accountable Care Organization Inc
EIN
47-3468314
In Care Of
% KAITLYN CLIFFORD
Phone
6176387901
Address
ONE BOSTON MEDICAL CENTER PLACE, BOSTON, MA 02118

Signing Officer

Name
David Beck
Title
Officer/clerk
Phone
6176387901
Signed
2017-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sandra Cotterell
Formed
2015
Legal Domicile
Ma
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
19

Preparer

Firm
PricewaterhouseCoopers LLP
Address
101 SEAPORT BLVD SUITE 500, BOSTON, MA 02210
Preparer
Gwen Spencer
Phone
6175305000
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1 & Part III, Line 1

BOSTON ACCOUNTABLE CARE ORGANIZATION, INC. (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 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 CHCS AND THEIR AFFILIATED PHYSICIANS TO PROVIDE MORE EFFECTIVE, HIGHER QUALITY AND LESS EXPENSIVE CARE FOR PATIENTS OF BACO. FORM 990, PART VI, SECTION A, LINE 2 CERTAIN OFFICERS AND DIRECTORS OF BACO ALSO SERVE AS OFFICERS AND DIRECTORS OF BMC. BUSINESS RELATIONSHIPS - STANLEY HOCHBERG, CHARLES WILLIAMS, THEA JAMES, THOMAS TRAYLOR, RAVIN DAVIDOFF, ALASTAIR BELL, JASON WORCESTER, PAUL HENDESSI AND CHARLOTTE WU ARE EMPLOYEES OF BMC WHERE RICHARD SILVERIA AND DAVID BECK SERVE AS OFFICERS. BUSINESS RELATIONSHIPS - William R. Creevy, Paul M. Hendessi, Mark Dovey, and JONATHAN S. OLSHAKER are all employed physicians of the Faculty Practice Plans where David Beck serves as an officer of the Plans. FORM 990, PART VI, SECTION A, LINE 7A THE FOLLOWING ORGANIZATIONS HAVE THE POWER TO APPOINT DIRECTORS TO THE BACO BOARD: 1. BOSTON MEDICAL CENTER CORPORATION SHALL APPOINT (6) DIRECTORS; 2. FACULTY PRACTICE FOUNDATION, INC. SHALL APPOINT (6) DIRECTORS; 3. PARTICIPATING COMMUNITY HEALTH CENTERS WILL APPOINT A TOTAL OF SIX (6) DIRECTORS; AND 4. BACO'S PATIENT ADVISORY COMMITTEE SHALL APPOINT ONE (1) CONSUMER REPRESENTATIVE. FORM 990, PART VI, LINE 11B BACO'S FORM 990 IS PREPARED BY PRICEWATERHOUSECOOPERS(PWC) AND REVIEWED BY BMC'S INTERNAL MANAGEMENT. FOLLOWING THAT REVIEW, BMC'S INTERNAL MANAGEMENT AND PWC PRESENT THE FORM 990 TO THE BMC AUDIT COMMITTEE FOR REVIEW AND COMMENT. THE COMPLETED FORM 990 IS PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO THE FORM BEING FILED WITH THE IRS.

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/PersonNm0RICHARD SILVERIA
IRS990/Form990PartVIISectionAGrp/PersonNm1WILLIAM R CREEVY
IRS990/Form990PartVIISectionAGrp/PersonNm2FRANCIS DOYLE
IRS990/Form990PartVIISectionAGrp/PersonNm3William J Halpin Jr
IRS990/Form990PartVIISectionAGrp/PersonNm4Stanley Hochberg
IRS990/Form990PartVIISectionAGrp/PersonNm5JONATHAN S OLSHAKER
IRS990/Form990PartVIISectionAGrp/PersonNm6CHARLES WILLIAMS
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IRS990/Form990PartVIISectionAGrp/PersonNm8Thea James
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