Is Bassett Hospital Of Schoharie County Legit?

Bassett Hospital Of Schoharie County demonstrates a generally stable financial trajectory with consistent revenue growth over the past several years, increasing from $29.3 million in 2018 to $47.1 million in 2023. The organization has also significantly grown its assets, from $23.6 million in 2018 to $60.0 million in 2023, indicating strong financial management and capacity building. The hospital consistently reports zero officer compensation, which is unusual for an organization of this size and suggests that executive leadership may be compensated through a related entity or that the hospital operates with a unique governance structure where top executives are not directly compensated by this specific EIN. This lack of direct compensation reporting for officers on the 990 could impact transparency regarding overall executive pay within the broader health system. The organization's spending efficiency appears reasonable, with expenses generally tracking below revenue, allowing for asset accumulation. For instance, in 2023, expenses were $38.9 million against revenues of $47.1 million, resulting in a surplus. The consistent growth in assets and the positive difference between revenue and expenses suggest a healthy financial position capable of sustaining its operations and potentially expanding services. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging. Transparency regarding executive compensation is a notable area for potential improvement, as the 990s consistently report 0% officer compensation. While this might be technically accurate for this specific EIN, it doesn't provide a complete picture of leadership compensation within the broader Bassett Healthcare Network, of which this hospital is a part. A more comprehensive disclosure of how leadership is compensated, even if through a parent organization, would enhance public trust and transparency.