Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $3,658,790

• 1e · Government grants (contributions)

  $12,024,996

• 1f · All other contributions, gifts and grants

  $16,051,398

• 1g · Noncash contributions included above

  $2,569,788

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $1,406,292,268 · related or exempt $1,406,292,268

• 2b · Program service revenue: PHARMACY

  total $710,551,693 · related or exempt $706,798,734 · unrelated business $3,752,959

• 2c · Program service revenue: GRANT & CONTRACT REVENUE

  total $133,633,323 · related or exempt $133,633,323

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $40,848,371 · related or exempt $40,848,371

• 3 · Investment income

  total $18,699,125 · unrelated business $590,021 · excluded $18,109,104

• 6a · Gross rents

  real property $5,492,172

• 6b · Less rental expenses

  real property $3,061,383

• 6c · Rental income or loss

  real property $2,430,789

• 6d · Net rental income or loss

  total $2,430,789 · excluded $2,430,789

• 7a · Gross sales of assets other than inventory

  securities $22,905,174 · other assets $433,885

• 7b · Less cost or other basis and sales expenses

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $22,905,174 · other assets $433,885

• 7d · Net gain or loss

  total $23,339,059 · unrelated business $14,085 · excluded $23,324,974

• 8a · Fundraising events: gross income

  $351,812

• 8a · Fundraising events: contributions included on line 1c

  $3,658,790

• 8b · Fundraising events: direct expenses

  $779,553

• 8c · Net income from fundraising events

  total -$427,741 · excluded -$427,741

• 11a · Other revenue: PARKING

  total $9,606,249 · excluded $9,606,249

• 11b · Other revenue: CAFETERIA

  total $3,574,036 · excluded $3,574,036

• 11e · Other revenue, total

  $13,180,285

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $21,576,114 · program services $21,576,114

• 3 · Grants to foreign organizations and individuals

  total $1,912,261 · program services $1,912,261

• 5 · Compensation of officers, directors and key employees

  total $4,209,385 · management and general $4,209,385

• 6 · Compensation of disqualified persons

  total $279,614 · program services $279,614

• 7 · Other salaries and wages

  total $758,062,544 · program services $671,406,459 · management and general $81,618,390 · fundraising $5,037,695

• 8 · Pension plan contributions

  total $26,013,732 · program services $23,051,474 · management and general $2,790,049 · fundraising $172,209

• 9 · Other employee benefits

  total $79,705,697 · program services $70,730,896 · management and general $8,444,723 · fundraising $530,078

• 10 · Payroll taxes

  total $54,946,227 · program services $48,689,342 · management and general $5,893,145 · fundraising $363,740

• 11b · Fees: legal

  total $9,605,241 · program services $1,999,664 · management and general $7,591,626 · fundraising $13,951

• 11c · Fees: accounting

  total $939,563 · program services $168,843 · management and general $769,933 · fundraising $787

• 11f · Fees: investment management

  total $379,527 · management and general $379,527

• 11g · Fees: other

  total $131,404,123 · program services $67,624,849 · management and general $58,985,539 · fundraising $4,793,735

• 12 · Advertising and promotion

  total $597,007 · program services $412,499 · management and general $29,815 · fundraising $154,693

• 13 · Office expenses

  total $14,210,050 · program services $11,784,816 · management and general $2,224,963 · fundraising $200,271

• 14 · Information technology

  total $32,824,722 · program services $29,086,877 · management and general $3,520,548 · fundraising $217,297

• 15 · Royalties

  total $4,853,624 · program services $4,164,136 · management and general $557,661 · fundraising $131,827

• 16 · Occupancy

  total $36,883,821 · program services $32,335,146 · management and general $4,284,241 · fundraising $264,434

• 17 · Travel

  total $3,172,333 · program services $1,904,483 · management and general $1,229,656 · fundraising $38,194

• 19 · Conferences, conventions and meetings

  total $2,213,445 · program services $2,017,393 · management and general $169,858 · fundraising $26,194

• 20 · Interest

  total $22,692,170 · program services $20,108,148 · management and general $2,433,802 · fundraising $150,220

• 22 · Depreciation, depletion and amortization

  total $105,951,762 · program services $93,886,730 · management and general $11,363,639 · fundraising $701,393

• 23 · Insurance

  total $20,219,604 · program services $17,917,140 · management and general $2,168,612 · fundraising $133,852

• 24a · Other expenses: DRUGS

  total $602,674,017 · program services $602,689,460 · management and general -$15,443

• 24b · Other expenses: PHYSICIAN SERVICES

  total $169,947,799 · program services $161,159,775 · management and general $8,788,024

• 24c · Other expenses: PATIENT RELATED SUPPLIE

  total $114,504,830 · program services $115,246,317 · management and general -$745,080 · fundraising $3,593

• 24d · Other expenses: DIRECT RESEARCH

  total $84,050,820 · program services $84,050,820

• 24e · All other expenses

  total $114,982,123 · program services $55,003,184 · management and general $59,140,001 · fundraising $838,938

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $117,953,834 · end of year -$7,519,912

• 2 · Savings and temporary cash investments

  beginning of year $167,341,237 · end of year $55,357,335

• 3 · Pledges and grants receivable

  beginning of year $30,640,295 · end of year $20,778,929

• 4 · Accounts receivable

  beginning of year $217,933,251 · end of year $348,337,332

• 7 · Other notes and loans receivable

  beginning of year $60,105,321 · end of year $97,828,426

• 8 · Inventories for sale or use

  beginning of year $24,483,909 · end of year $27,928,035

• 9 · Prepaid expenses and deferred charges

  beginning of year $6,053,001 · end of year $6,907,948

• 10a · Land, buildings and equipment: cost or other basis

  $2,260,186,822

• 10b · Land, buildings and equipment: accumulated depreciation

  $1,254,555,450

• 10c · Land, buildings and equipment, net

  beginning of year $973,234,451 · end of year $1,005,631,372

• 11 · Investments: publicly traded securities

  beginning of year $43,564,952 · end of year $46,383,460

• 12 · Investments: other securities

  beginning of year $298,095,538 · end of year $324,982,638

• 13 · Investments: program-related

  beginning of year $510,000 · end of year $230,000

• 15 · Other assets

  beginning of year $516,273,791 · end of year $705,353,604

• 17 · Accounts payable and accrued expenses

  beginning of year $283,352,896 · end of year $292,693,919

• 19 · Deferred revenue

  beginning of year $31,563,893 · end of year $16,343,576

• 20 · Tax-exempt bond liabilities

  beginning of year $422,642,694 · end of year $634,691,719

• 23 · Secured mortgages and notes payable

  beginning of year $180,000,000 · end of year $180,000,000

• 25 · Other liabilities

  beginning of year $283,070,274 · end of year $261,017,447

• 27 · Net assets without donor restrictions

  beginning of year $909,333,701 · end of year $889,523,906

• 28 · Net assets with donor restrictions

  beginning of year $346,226,122 · end of year $357,928,600

The filer's explanations (Part III)

PART I, LINES 4A-B

LINE 4A: NORMAN STEIN LEFT THE ORGANIZATION ON 12/30/2020. NORMAN STEIN HAD A 2-YEAR SEVERANCE ARRANGEMENT. HIS SEVERANCE AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). LINE 4B: BOSTON MEDICAL CENTER PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN TO CERTAIN EXECUTIVES. AMOUNTS ARE CREDITED TO PARTICIPANTS' ACCOUNTS EACH YEAR. PLAN AMOUNTS ARE SUBJECT TO FORFEITURE AND PAYMENT ONLY IF CERTAIN CONDITIONS ARE MET, AS OUTLINED IN THE PLAN AGREEMENT. AMOUNTS VEST ON SPECIFIED DATES BASED ON CONTINUED EMPLOYMENT BUT NO LATER THAN THE EXECUTIVE'S SIXTY-SECOND BIRTHDAY. AMOUNTS ACCRUED IN THE PLAN ARE REPORTED IN SCHEDULE J, PART II, COLUMN C. THE AMOUNTS REPORTED FOR THE EXECUTIVES BELOW WERE CONTRIBUTED IN 2019 AND BECAME VESTED AND WERE PAID IN 2022. THE AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III): BELL - $88,458 KELLY-CROSWELL - $42,695 GADEN - $39,238 HARVEY - $12,688 CAMILLUS - $30,848 BOSTON MEDICAL CENTER PROVIDED A 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN TO DAVID BECK, KATHLEEN WALSH AND DAVID MCANENY. THESE EXECUTIVES HAVE REACHED THE PLAN RETIREMENT AGE AND HAVE VESTED 100% IN THE PLAN. IN ADDITION, PURSUANT TO THE TERMS OF THE PLAN, ONCE THE PLAN PARTICIPANT REACHES THE PLAN RETIREMENT AGE, ALL FUTURE CONTRIBUTIONS ARE MADE IN CASH. ACCORDINGLY, 2022 CONTRIBUTIONS OF $53,400, $277,500, AND $60,000 WERE PAID IN CASH TO DAVID BECK, KATHLEEN WALSH, AND DAVID MCANENY, RESPECTIVELY, IN 2022. THESE AMOUNTS ARE REFLECTED IN SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 7

BMC HAS AN ANNUAL EXECUTIVE PERFORMANCE INCENTIVE PLAN. PERFORMANCE TARGETS AND PAYOUT METRICS ARE ESTABLISHED AND APPROVED BY THE COMPENSATION COMMITTEE AT THE BEGINNING OF EACH PERFORMANCE CYCLE. FISCAL YEAR 2022 PERFORMANCE BONUS PAYOUTS WERE APPROVED BY THE COMMITTEE AFTER IT REVIEWED THE 2022 PERFORMANCE RESULTS AGAINST PRE ESTABLISHED PERFORMANCE TARGETS, AND APPROVED THE FORMULA-BASED PAYOUTS ACCORDINGLY.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• BMC INSURANCE COMPANY LTD

  C · INSURANCE · CJ · 70% owned · share of income $1,064,592 · share of assets $98,102,997 · controlled entity

  Directly controlled by BMC

• CHARITABLE REMAINDER TRUST - MA (3)

  T · SUPPORT · MA · controlled entity

  Directly controlled by BMC