Overview
What is Boston Medical Center Corporation?
Boston Medical Center Corporation, a private, not-for-profit organization based in Boston, Massachusetts, operates as New England's largest safety net hospital. With a mission to provide accessible healthcare services to all, regardless of their ability to pay, the center boasts 11,396 employees. Boston Medical Center emphasizes community-based care and offers a full spectrum of pediatric and adult healthcare services, from primary to family medicine to advanced specialty care. Nearly three-quarters of its patients come from underserved populations, including the low-income and elderly, who rely on government payers like Medicaid and Medicare. To cater to diverse patient populations, the center offers additional services beyond traditional medical care, such as patient navigation and a food pantry, which help reduce barriers to healthcare access and eliminate disparities among the patient populations served.
Official website here: www.bmc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Boston Medical Center Corporation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The high score indicates that the organization effectively manages its resources and adheres to best practices in governance. The rating is based solely on the Accountability & Finance beacon, which showcases the nonprofit's robust financial health and transparency.
Key strengths of the organization include a majority of independent board members, a comprehensive audit and oversight committee, and transparent financial statements. With no material diversion of assets and a high program expense ratio of 92.18%, the organization demonstrates a significant focus on utilizing funds for its core mission. Additionally, the presence of documented policies on conflicts of interest, whistleblowing, and document retention further reinforces its dedication to responsible governance.
While the data highlights several strengths, it is essential for potential supporters to consider the overall mission and impact of Boston Medical Center Corporation in the community. The financial metrics are exemplary, but understanding how these resources translate into real-world benefits for those served will provide a more complete picture of the organization’s effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Boston Medical Center Corporation legitimate?
Boston Medical Center Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Boston Medical Center Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $4,209,385
Professional Fundraising Fees: $0
Other Salaries and Wages: $758,062,544
For more financial information, click here
Official website here: www.bmc.org
What is the mission statement of Boston Medical Center Corporation?
The Boston Medical Center Corporation is committed to delivering excellence in accessible healthcare services to all in need, regardless of their socio-economic status or ability to pay. As a private, not-for-profit medical center, it prioritizes community-based care and ensuring healthcare access for underserved populations, including the low-income and elderly, who rely on government payers like Medicaid, the Health Safety Net, and Medicare. Approximately 75% of its patient base comes from underrepresented communities, with 27% not speaking English as their primary language. To cater to diverse patient populations and eliminate healthcare disparities, the Boston Medical Center offers a variety of services beyond traditional medical care, such as patient navigation and a food pantry, which help reduce barriers to healthcare access.
Official website here: www.bmc.org
What is the revenue of Boston Medical Center Corporation?
Boston Medical Center Corporation's revenue in 2023 was $2,380,282,356.
Official website here: www.bmc.org
Who are the executives of Boston Medical Center Corporation and what are their salaries?
The average compensation at Boston Medical Center Corporation during 2023 was $66,118. There are 11529 employees and 343 volunteers at Boston Medical Center Corporation.
Here are 42 key members and their salaries:
- Compensation: $2,255,596
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- Other: $28,166
- Compensation: $1,297,429
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- Other: $156,500
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- Related: $1,048,952
- Other: $38,466
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- Related: $725,139
- Other: $36,895
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- Related: $287,690
- Other: $43,622
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- Compensation: $846,135
- Related: $0
- Other: $139,712
- Compensation: $628,000
- Related: $0
- Other: $52,061
- Compensation: $839,195
- Related: $0
- Other: $27,512
- Compensation: $669,440
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- Other: $106,028
- Compensation: $635,999
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- Other: $104,984
- Compensation: $1,096,458
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- Other: $54,562
- Compensation: $691,417
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- Other: $121,464
- Compensation: $622,135
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- Other: $110,509
- Compensation: $589,186
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- Other: $120,811
- Compensation: $599,775
- Related: $0
- Other: $30,319
- Compensation: $400,000
- Related: $0
- Other: $0
Official website here: www.bmc.org
Where can I find the form 990 for Boston Medical Center Corporation?
Boston Medical Center Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.bmc.org
Learn more at the official website: www.bmc.org
Mission Statement of Boston Medical Center Corporation
Boston Medical Center Corporation, a private, not-for-profit institution, is dedicated to providing consistently excellent and accessible health services to all in need, regardless of their status or ability to pay. The organization's mission, as outlined in the statute authorizing its creation, emphasizes community-based, accessible care and a commitment to serving all populations. As the largest safety net hospital in New England, Boston Medical Center offers a full spectrum of pediatric and adult care services, from primary to family medicine to advanced specialty care.
The diverse patient population at Boston Medical Center relies heavily on government payers like Medicaid, the Health Safety Net, and Medicare for their coverage. Nearly 75% of the patients come from underserved populations, including the low-income and elderly. To address the unique health needs of this diverse demographic and reduce barriers to access to healthcare, Boston Medical Center provides a wide range of services beyond the traditional medical model. These programs, such as patient navigation and a food pantry, help eliminate disparities in healthcare among various populations served by the center. By offering these additional resources, Boston Medical Center ensures that it remains accessible and inclusive to all who need its care.
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Impact
October, 2024
Boston Medical Center Corporation (BMC) significantly impacts the community by prioritizing accessible healthcare for all individuals, regardless of their socioeconomic status or ability to pay. As the largest safety net hospital in New England, BMC plays a critical role in serving underserved populations, with nearly 75% of its patients from low-income backgrounds and a substantial portion who are non-English speakers.
BMC's commitment goes beyond traditional healthcare services. It offers a comprehensive range of pediatric and adult care, from primary and family medicine to advanced specialty services. Furthermore, BMC actively addresses barriers to healthcare access through innovative programs such as patient navigation and its food pantry, which alleviate non-medical challenges that patients may face.
By emphasizing community-based care, BMC mitigates health disparities and enhances health equity, fundamentally improving the health outcomes of diverse populations in the Boston area and beyond. The organization embodies the principle that healthcare is a right, not a privilege, ensuring that all individuals, especially the most vulnerable, receive the care they need.
This information is meant to be a general summary of Boston Medical Center Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $18,699,125
- Program Service Revenue: $2,291,325,655
- Gross Receipts: $2,384,123,292
Assets and Liabilities:
- Total Assets: $2,456,189,580
- Total Liabilities: $1,200,629,757
- Net Assets: $1,255,559,823
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PATIENT SERVICE REVENUE
Revenue
$1,406,292,268
PHARMACY
Revenue
$710,551,693
GRANT & CONTRACT REVENUE
Revenue
$133,633,323
OTHER PROGRAM REVENUE
Revenue
$40,848,371
Organization Details
Founding Year
1996
Phone
(617) 414-1628Principal Officer
Anthony Hollenberg Md
Main Address
ONE BOSTON MEDICAL CENTER PLACE, BOSTON, MA, 02118
Website
www.bmc.orgNTEE Category
Code: E22Z - Health
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