Bassett Healthcare Network
Bassett Healthcare Network shows highly volatile financial performance with significant swings in revenue, expenses, and liabilities.
EIN: 133218680 · Cooperstown, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.4M |
| Total Expenses | $497K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $704,671,850 |
| Net Assets | $-34,018,170 |
| Transparency Score | 60/100 |
Is Bassett Healthcare Network Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bassett Healthcare Network directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Bassett Healthcare Network
Bassett Healthcare Network (EIN: 133218680) is a nonprofit organization based in Cooperstown, NY. The organization reported total revenue of $5.4M and total assets of $704.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bassett Healthcare Network's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bassett Healthcare Network is a mid-size nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $497K |
| Surplus / Deficit | +$811K |
| Total Assets | $43.6M |
| Total Liabilities | $77.7M |
| Net Assets | $-34,018,170 |
| Operating Margin | 62.0% |
| Debt-to-Asset Ratio | 178.0% |
| Months of Reserves | 1053.6 months |
Financial Health Grade: A
In 2023, Bassett Healthcare Network reported a surplus of $811K with revenue exceeding expenses, holds 1053.6 months of operating reserves (strong position), has a debt-to-asset ratio of 178.0% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +155.5% | -97.3% | -40.3% |
| 2022 | -26.9% | -19.9% | +45.5% |
| 2021 | +11.6% | +6981.2% | +721.8% |
| 2020 | +53.2% | -47.8% | -0.6% |
| 2019 | +1.3% | +165.6% | -4.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bassett Healthcare Network with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Bassett Healthcare Network allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $811K, with revenue exceeding expenses.
- Debt-to-asset ratio: 178.0%.
Executive Compensation Analysis
The provided filings consistently report 0% officer compensation, which is unusual for an organization of this asset size ($704,671,850) and suggests executive compensation may be reported under different categories or not at all in these specific line items, requiring deeper scrutiny.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Bassett Healthcare Network's IRS 990 filings:
- Highly volatile financial performance with large swings in revenue and expenses year-over-year (e.g., 2022 revenue $512,071 vs. expenses $18,743,911).
- Consistent reporting of 0% officer compensation, which is unusual for an organization of this size and requires further clarification.
- Significant fluctuations in liabilities, from $0 to over $100 million, indicating potential instability or complex financial structuring.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary, hindering a full assessment of spending efficiency.
Strengths
The following positive indicators were identified for Bassett Healthcare Network:
- Substantial total assets of $704,671,850, indicating significant financial capacity.
- Positive net assets in some periods (e.g., 2023 assets $43,633,367 vs. liabilities $77,651,537, though net assets are negative here, earlier years like 2020 show positive net assets with $6,108,535 assets and $0 liabilities).
- Demonstrated ability to generate significant revenue in certain periods (e.g., $1,308,152 in 2023).
Frequently Asked Questions about Bassett Healthcare Network
Is Bassett Healthcare Network a legitimate charity?
Based on AI analysis of IRS 990 filings, Bassett Healthcare Network (EIN: 133218680) some concerns. Mission Score: 60/100. 4 red flags identified, 3 strengths noted.
How does Bassett Healthcare Network spend its money?
Bassett Healthcare Network directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bassett Healthcare Network tax-deductible?
Bassett Healthcare Network is registered as a tax-exempt nonprofit (EIN: 133218680). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Bassett Healthcare Network CEO make?
Bassett Healthcare Network's highest-compensated officer earns $704,671,850 annually. The organization reported $5.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Bassett Healthcare Network's spending goes to programs?
Bassett Healthcare Network directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Bassett Healthcare Network located?
Bassett Healthcare Network is headquartered in Cooperstown, New York and files with the IRS under EIN 133218680.
How many years of IRS 990 filings does Bassett Healthcare Network have?
Bassett Healthcare Network has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $5.4M in total revenue.
Is Bassett Healthcare Network a good charity?
Assessing if Bassett Healthcare Network is a 'good charity' is complex due to the highly inconsistent financial data. While it has substantial assets, the significant year-over-year fluctuations in revenue, expenses, and liabilities, coupled with the 0% officer compensation reported, make it difficult to form a definitive conclusion without more detailed financial breakdowns and explanations for these variances.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% for officer compensation across all provided filings is unusual for an organization of Bassett Healthcare Network's scale. This could indicate that executive compensation is reported in other expense categories, paid by a related entity, or that the specific line item for 'Officer Comp' in these summaries is not capturing the full picture. Further investigation into the full IRS 990 forms (Part VII, Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees) would be necessary to understand executive pay.
What caused the large expense spikes in 2021 and 2022?
The significant expense spikes, such as $23,406,907 in 2021 and $18,743,911 in 2022, compared to much lower expenses in other years (e.g., $496,963 in 2023), warrant further investigation. These could be due to major capital expenditures, one-time operational costs, or significant program expansions. Without detailed expense breakdowns, the exact causes remain unclear.
How does the organization manage its liabilities, which fluctuate significantly?
Bassett Healthcare Network's liabilities have varied dramatically, from $0 in several earlier periods to over $100 million in 2022. This fluctuation suggests either significant debt acquisition and repayment cycles or changes in accounting for certain obligations. Understanding the nature of these liabilities (e.g., bonds, mortgages, accounts payable) and the organization's strategy for managing them is crucial for assessing financial stability.
Filing History
IRS 990 filing history for Bassett Healthcare Network showing financial trends over 13 years of public records:
Total assets increased by 4363336600% over the same period, from $1 to $43.6M. In its most recent filing year (2023), Bassett Healthcare Network reported a surplus of $811K, with revenue exceeding expenses. The organization holds $77.7M in liabilities against $43.6M in assets (debt-to-asset ratio: 178.0%), resulting in net assets of $-34,018,170.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $497K | $43.6M | $77.7M | — | View 990 |
| 2022 | $512K | $18.7M | $73.0M | $107.9M | — | View 990 |
| 2021 | $701K | $23.4M | $50.2M | $66.8M | — | View 990 |
| 2020 | $628K | $331K | $6.1M | $0 | — | View 990 |
| 2019 | $410K | $633K | $6.1M | $162K | — | View 990 |
| 2018 | $404K | $238K | $6.4M | $238K | — | View 990 |
| 2017 | $2.2M | $953K | $6.6M | $553K | — | View 990 |
| 2016 | $304K | $86 | $4.3M | $0 | — | View 990 |
| 2015 | $4K | $0 | $4.0M | $0 | — | View 990 |
| 2014 | $4.0M | $0 | $4.0M | $0 | — | View 990 |
| 2013 | $0 | $0 | $0 | $0 | — | View 990 |
| 2012 | $0 | $0 | $0 | $0 | — | View 990 |
| 2011 | $0 | $0 | $1 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $497K, and assets of $43.6M (revenue +155.5% year-over-year).
- 2022: Revenue of $512K, expenses of $18.7M, and assets of $73.0M (revenue -26.9% year-over-year).
- 2021: Revenue of $701K, expenses of $23.4M, and assets of $50.2M (revenue +11.6% year-over-year).
- 2020: Revenue of $628K, expenses of $331K, and assets of $6.1M (revenue +53.2% year-over-year).
- 2019: Revenue of $410K, expenses of $633K, and assets of $6.1M (revenue +1.3% year-over-year).
- 2018: Revenue of $404K, expenses of $238K, and assets of $6.4M (revenue -81.9% year-over-year).
- 2017: Revenue of $2.2M, expenses of $953K, and assets of $6.6M (revenue +635.9% year-over-year).
- 2016: Revenue of $304K, expenses of $86, and assets of $4.3M (revenue +7494.8% year-over-year).
- 2015: Revenue of $4K, expenses of $0, and assets of $4.0M (revenue -99.9% year-over-year).
- 2014: Revenue of $4.0M, expenses of $0, and assets of $4.0M.
- 2013: Revenue of $0, expenses of $0, and assets of $0.
- 2012: Revenue of $0, expenses of $0, and assets of $0.
- 2011: Revenue of $0, expenses of $0, and assets of $1.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bassett Healthcare Network:
Data Sources and Methodology
This transparency report for Bassett Healthcare Network is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.