Southcoast Hospitals Group Inc
83% goes to programs $4 to raise $100 Strong reserves Growing revenue
Southcoast Hospitals Group Inc is a 501(c)(3) organization based in New Bedford, Massachusetts, registered in 1986, with $1,203,785,146 in FY2023 revenue. CharityIndex grades it A, and it directs about 83% of spending to programs.
101 Page St, New Bedford, MA, 02740 EIN 22-2592333 Since 1986
Revenue (FY2023)
$1.2B
▲ 7.4% vs prior year
Health median: $840K
Expenses (FY2023)
$1.1B
Net assets
$701.6M
Employees
6,522
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating83% to programs · $4 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Southcoast Hospitals Group Inc: 83% to programs · $4 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating8 mo reserves · +8% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Southcoast Hospitals Group Inc: 8 mo reserves · +8% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Southcoast Hospitals Group Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Southcoast Hospitals Group Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
See schedule o to promote the optimal health and wellbeing of the individuals and families in the communities served by southcoast hospitals group (shg).
Contact & location
- Address
- 101 Page St, New Bedford, MA, 02740
- City
- New Bedford
- State
- Massachusetts
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $743.2M (FY2013) to $1.2B (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $457.1MNet assets $701.6M
Operating margin
7.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.2B
Total liabilities
$457.1M
Net assets
$701.6M
Salaries & benefits
$518.6M
47% of expenses
Board members
15
12 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $1,203,785,146▲7.4% | $1,109,586,238▲7.3% | $701,563,129▲17.4% | $1,158,657,361▲10.9% | 990 |
| 2022 | $1,121,349,892▲10.0% | $1,034,147,962▲5.4% | $597,592,638▲10.2% | $1,044,672,844▲5.4% | 990 |
| 2021 | $1,019,838,643▲6.3% | $980,973,163▲10.3% | $542,107,872▼22.2% | $991,182,909▼21.7% | 990 |
| 2020 | $959,620,935▲2.4% | $889,341,530▲6.0% | $697,039,786▲5.1% | $1,265,624,200▲4.3% | 990 |
| 2019 | $936,796,802▲4.4% | $838,979,750▲2.0% | $663,426,999▲15.3% | $1,213,595,255▲25.7% | 990 |
| 2018 | $897,342,161▲5.3% | $822,696,260▲5.8% | $575,313,684▲3.4% | $965,442,251▲0.8% | 990 |
| 2017 | $851,950,071▲4.6% | $777,575,425▲1.8% | $556,444,545▲1.5% | $958,188,756▲1.0% | 990 |
| 2016 | $814,420,690▼1.9% | $763,503,985▲1.4% | $548,288,871▲5.1% | $948,353,765▲2.3% | 990 |
| 2015 | $830,076,919▼0.8% | $752,601,672▲1.4% | $521,864,515▲4.9% | $927,270,784▼1.8% | 990 |
| 2014 | $837,135,727▲12.6% | $741,937,320▲7.8% | $497,677,134▼1.2% | $944,260,336▲5.8% | 990 |
| 2013 | $743,198,978 | $688,506,058▼1.6% | $503,964,817▼4.1% | $892,822,175▼4.7% | 990 |
| 2012 | — | $699,525,667▲6.8% | $525,369,742▲7.5% | $936,942,163▲13.2% | 990 |
| 2011 | — | $655,135,209▲3.0% | $488,542,080▲18.8% | $827,965,507▲10.1% | 990 |
| 2010 | — | $635,995,571▲2.7% | $411,239,405▲8.8% | $751,714,723▲8.5% | 990 |
| 2009 | — | $619,367,923 | $378,076,614 | $692,664,229 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Keith Hovan — $1,615,731 (0.15% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Keith Hovan | Former President & Ceo | 0 | $1,615,731 |
| Rayford Kruger Md | President & Ceo (until 1/3/24) | 41.5 | $1,300,999 |
| Wade Broughman | Treasurer of Board/ Evp Fin/cfo | 47.5 | $1,155,114 |
| Renee Clark | Assistant Clerk/ Evp Coo | 32.5 | $1,121,185 |
| James Feen | Svp/chief Digital Info Officer | 60 | $730,092 |
| Stephen Canessa | Svp External Affairs Cco | 60 | $649,312 |
| Lauren Desimon Johnson | Svp/ Chro | 60 | $631,866 |
| Jaqueline Somerville | Svp/cno | 60 | $598,109 |
| Stephen Pires | Svp, Insurance Risk Management | 60 | $550,814 |
| Tonya Johnson | Svp & Coo (until 6/28/24) | 60 | $510,488 |
| Mark Cale | Cfo Shg & Svp Finance Shs | 60 | $507,344 |
| Patricia Buiocchi | Svp Post Acute Services | 30 | $468,274 |
| Jadene Elden | Vp Revenue Cycle | 60 | $346,803 |
| Philip Oliveira | Vp Supply Chain Strat & Logist | 60 | $344,145 |
| David Mccready | Ex-officio, Pres & Ceo (from 1/24) | 17.5 | $317,489 |
| Charles E Cusson Jr | Vp Org Captly and Talent Management | 60 | $262,119 |
| John Mungovan Md | Trustee (as of 1/1/24) | 13.5 | $143,702 |
| Robert Ronan Md | Trustee (until 12/31/2023) | 3.5 | $37,639 |
| Salman Bashir Md | Trustee | 1.5 | $3,858 |
| Carmen F Sylvester | Vice Chair | 2.5 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Staffbot LLC | Staffing | $11,935,162 |
| Suffolk Constructions Company Inc | Construction | $9,067,106 |
| Maxim Staffing Solutions | Staffing | $4,595,911 |
| Robinson & Cole LLP | Legal Services | $4,489,961 |
| Marsh USA Inc | Professional Services | $4,432,599 |
Grants received · $269K total
20 grants to Southcoast Hospitals Group Inc totaling $269K, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $26,000 |
| National Philanthropic Tr | Human services | 2023 | $20,000 |
| National Philanthropic Tr | Health | 2022 | $15,000 |
| American Cancer Society Inc | Patient support | 2022 | $10,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $6,250 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2021 | $11,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $7,250 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2021 | $7,250 |
| Tulsa Community Foundation | General operations | 2020 | $80,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2020 | $6,000 |
| Donor Advised Charitable Giving | Health | 2020 | $5,000 |
| Donor Advised Charitable Giving | Health | 2020 | $5,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2018 | $8,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2017 | $11,000 |
| Boston Foundation Inc | Operating support | 2017 | $10,000 |
Grants made · $258K in FY2023
17 grants totaling $258K in FY2023 — showing the 15 largest. All grants made by Southcoast Hospitals Group Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| YWCA of Southeastern Massachuetts | Community outreach & support services | $61,200 |
| Childrens Hospital Corporation | Support services | $32,000 |
| Coastal Foodshed Inc | Support services | $30,000 |
| Positive Action Against Chemical Addiction Inc | Support services | $25,000 |
| The Marion Institute Inc | Community outreach | $17,150 |
| Justice Resource Institute Inc | Community outreach | $15,250 |
| United Way of Greater New Bedford Inc | Community outreach | $11,850 |
| One Southcoast Chamber | Community outreach | $8,605 |
| Friends of Jack Foundation Inc | Community outreach | $7,600 |
| Young Mens Christian Association Southcoast Incorporated | Community outreach | $7,300 |
| Thomas Chew Memorial Boys Club Inc | Community outreach & support services | $6,770 |
| United Way of Greater Fall River Inc | Support services | $6,150 |
| Boys & Girls Club of Greater New Bedford Inc | Support services | $6,040 |
| My Brothers Keeper Inc | Support services | $6,000 |
| New England Collegiate Baseball League Inc | Support services | $5,750 |
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Frequently asked questions
- Is Southcoast Hospitals Group Inc a legitimate nonprofit?
- Yes. Southcoast Hospitals Group Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 22-2592333, based in New Bedford, Massachusetts. Donations are tax-deductible.
- What is Southcoast Hospitals Group Inc's EIN?
- Southcoast Hospitals Group Inc's Employer Identification Number (EIN) is 22-2592333.
- How much revenue does Southcoast Hospitals Group Inc report?
- Southcoast Hospitals Group Inc reported $1,203,785,146 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Southcoast Hospitals Group Inc's spending goes to programs?
- Southcoast Hospitals Group Inc spends about 83% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Southcoast Hospitals Group Inc have?
- CharityIndex grades Southcoast Hospitals Group Inc A, based on program efficiency and fundraising cost.
- How much does Southcoast Hospitals Group Inc's highest-paid employee make?
- The highest reported compensation on Southcoast Hospitals Group Inc's latest Form 990 is $1,615,731, paid to Keith Hovan (Former President & Ceo).
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Data for Southcoast Hospitals Group Inc (EIN 22-2592333) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.