2024-05-14T08:34:14-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2022-07-01 222691757 PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE FOUNDATION PHIL 2158716900 4190 CITY AVENUE PHILADELPHIA PA 19131 PETER DOULIS VP OF FINANCE/CFO 2158716900 2024-02-14 1 PETER DOULIS XXX-XX-XXXX 0 LAURA J KENNEY P00202198 6177170831 2024-05-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PETER DOULIS 4190 CITY AVENUE PHILADELPHIA PA 19131 362044701 0 X WWW.PCOM.EDU X 1986 PA CONDUCTS FUNDRAISING IN SUPPORT OF PCOM, AS WELL AS, PROVIDES MANAGEMENT OF PCOM ENDOWMENT FUNDS. THESE FUNDS ARE USED TO PROVIDE SCHOLARSHIPS, AWARDS, AND FUNDS FOR OPERATING COSTS. 18 15 0 18 -1820014 0 2642692 2730522 0 0 18961153 2572222 0 0 21603845 5302744 9387311 10010431 0 0 0 0 0 0 0 3232746 3079656 12620057 13090087 8983788 -7787343 537423660 570849232 1539087 857672 535884573 569991560 CONDUCTS FUNDRAISING IN SUPPORT OF PCOM, AS WELL AS, PROVIDES MANAGEMENT OF PCOM ENDOWMENT FUNDS. THESE FUNDS ARE USED TO PROVIDE SCHOLARSHIPS, AWARDS, AND FUNDS FOR OPERATING COSTS. 0 0 10026319 10010430 0 SCHOLARSHIPS AND AWARDS ARE AWARDED TO MEDICAL STUDENTS AND OTHER GRADUATE PROGRAM STUDENTS. 10026319 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 15 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 AL AZ AR CA CO CT DC FL HI IL KY LA ME MD MA MI MN MS MT NV NH NJ NY NC OH OK OR PA SC UT VA WA WI X PCOM MANAGEMENT 2158716900 4190 CITY AVENUE PHILADELPHIA PA 19131 JAY S FELDSTEIN DO PRESIDENT & CEO 3.00 42.00 X X 0 1217597 58027 KENNETH J VEIT DO PROVOST, SVP ACADEMIC AFFAIRS, DEAN 3.00 42.00 X X 0 791769 63130 MARLA D GOLDEN DO MS TRUSTEE/FACULTY REPRESENTATIVE 0.00 40.00 X 0 270511 62830 THOMAS J GRAVINA CHAIRMAN OF THE BOARD 2.00 3.00 X X 0 0 0 JOHN B BULGER DO VICE CHAIRMAN 1.00 1.00 X X 0 0 0 A SCOTT MCNEAL DO VICE CHAIRMAN 1.00 1.00 X X 0 0 0 JEREL A HOPKINS ESQ VICE CHAIRMAN 1.00 1.00 X X 0 0 0 JOHN P KEARNEY TRUSTEE 1.00 1.00 X 0 0 0 MATTHEW O ELKES TRUSTEE 1.00 1.00 X 0 0 0 THELMA DYE-HOLMES PHD TRUSTEE 1.00 1.00 X 0 0 0 JOSEPH A DIETERLE DO TRUSTEE 1.00 1.00 X 0 0 0 VINCENT LOBO DO TRUSTEE 1.00 1.00 X 0 0 0 R DAVID MCCLESKEY TRUSTEE 1.00 1.00 X 0 0 0 DANA C SHAFFER DO TRUSTEE 1.00 1.00 X 0 0 0 JAMES H BLACK DO TRUSTEE 1.00 1.00 X 0 0 0 WAYNE T SIKES TRUSTEE 1.00 1.00 X 0 0 0 VIRGINIA A STALLINGS MD TRUSTEE 1.00 1.00 X 0 0 0 TIMOTHY BURGESS TRUSTEE 1.00 1.00 X 0 0 0 JULIE FOX TRUSTEE (UNTIL 11/22) 1.00 1.00 X 0 0 0 PETER DOULIS VP FINANCE/CFO 3.00 42.00 X 0 601820 75638 DAVID SIMON CHIEF LEGAL AFFAIRS OFFICER 3.00 42.00 X 0 458387 65107 CARRIE COLLINS CHIEF ADVANCEMENT AND STRATEGIC PLANNING OFFICER 27.00 18.00 X 0 343671 58595 MARCINE PICKRON-DAVIS CHIEF DIVERSITY OFFICER 2.00 38.00 X 0 297454 34822 LYNN KUSH SECRETARY 2.00 38.00 X 0 88867 34275 0 4070076 452424 0 0 1 0 EAST END ADVISORS LLC 610 FIFTH AVENUE SUITE 506 NEW YORK NY 10020 INVESTMENT MANAGEMENT 2799795 1 2730522 110242 2730522 7040093 -1838813 8878906 352274086 356741957 -4467871 -4467871 18799 -4486670 5302744 0 -1820014 4392236 2624721 2624721 7385710 7385710 3063768 3063768 605 605 13579 13579 BAD DEBT 1704 1704 13090087 10026319 3063768 0 7334116 5685855 692990 749221 60755822 102248745 468633184 462045184 7548 120227 537423660 570849232 108355 98578 1430732 759094 1539087 857672 X 493526709 526367632 42357864 43623928 535884573 569991560 537423660 570849232 X -7787343 27971830 13922500 X 0 1 X 1 0 X 2586782 1923614 2316565 2642692 2730522 12200175 2586782 1923614 2316565 2642692 2730522 12200175 12200175 5500640 5414315 4749290 6945473 8878906 31488624 29768 29768 140300 175000 13874 329174 44047741 0.27700 0.30910 X THE FOUNDATION MEETS THE 10% FACTS AND CIRCUMSTANCES TEST PURSUANT TO IRC SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI). THE FOUNDATION MAINTAINS A ROBUST DEVELOPMENT AND FUNDRAISING PROGRAM TO SUPPORT THE MISSION OF THE PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE. THE FOUNDATION CONTINUALLY SOLICITS FUNDS FROM THE PUBLIC. IT RECEIVES CHARITABLE CONTRIBUTIONS FROM A WIDE RANGE OF DONORS, INCLUDING INDIVIDUALS, COMPANIES, FOUNDATIONS AND OTHER PUBLIC CHARITIES AND ITS PUBLIC SUPPORT PERCENTAGE REMAINS OVER 25%. SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS - 2018 AMOUNT: $ 140,300. 2019 AMOUNT: $ 175,000. OTHER INCOME - 2020 AMOUNT: $ 13,874. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 539106010 16653022 30350811 7385710 2624721 2844909 573254503 568441693 29787238 -46760140 6722002 2665309 2975470 539106010 419241320 27516815 131966694 6057300 1764393 2461443 568441693 417912181 1964164 8872012 5808696 1539903 2158438 419241320 406563435 2727082 17627144 5233915 1635489 2136076 417912181 0.92390 0.07610 0.00000 0 0 0 ALTERNATIVE INVESTMENTS 450042283 F VENTURE CAPITAL 12002901 F 462045184 DUE TO AFFILIATE (COLLEGE) 759094 759094 X PART X, LINE 2: PCOM FOUNDATION IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE INTERNAL REVENUE CODE. PCOM FOUNDATION FILES U.S. FEDERAL, STATE, AND LOCAL INFORMATION RETURNS, AND NO RETURNS ARE CURRENTLY UNDER EXAMINATION. THE STATUTE OF LIMITATIONS ON THE ORGANIZATION'S U.S. FEDERAL INFORMATION RETURNS REMAINS OPEN FOR THREE YEARS FOLLOWING THE YEAR THEY ARE FILED. U.S. GAAP REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A MORE-LIKELY THAN-NOT THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION DOES NOT BELIEVE ITS CONSOLIDATED FINANCIAL STATEMENTS INCLUDE ANY MATERIAL UNCERTAIN TAX POSITIONS. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 183904893 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 28991406 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 INVESTMENTS 11997424 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 INVESTMENTS 1045076 0 0 0 0 0 0 225938799 0 225938799 1 0 1 1 1 0 PART III ACCOUNTING METHOD: 1 PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE 4190 CITY AVENUE PHILADELPHIA PA 19131 231355135 501(C)(3) 2624721 0 GENERAL ASSISTANCE 1 0 SCHOLARSHIPS 1932 7385710 PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS: THE GRANTS (SCHOLARSHIP AND AWARDS) ARE APPLIED AS TUITION PAYMENTS ON BEHALF OF STUDENTS ENROLLED AT PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE. THE STUDENTS MUST DEMONSTRATE FINANCIAL NEED AND BE IN GOOD ACADEMIC STANDING. GRANTS ARE AWARDED IN A NONDISCRIMINATORY AND OBJECTIVE BASIS. 0 0 0 0 0 0 0 0 0 JAY S FELDSTEIN DO PRESIDENT & CEO 0 860397 0 350000 0 7200 0 45750 0 12277 0 1275624 0 0 KENNETH J VEIT DO PROVOST, SVP ACADEMIC AFFAIRS, DEAN 0 635169 0 150000 0 6600 0 45750 0 17380 0 854899 0 0 PETER DOULIS VP FINANCE/CFO 0 495220 0 100000 0 6600 0 45750 0 29888 0 677458 0 0 DAVID SIMON CHIEF LEGAL AFFAIRS OFFICER 0 371787 0 80000 0 6600 0 45750 0 19357 0 523494 0 0 CARRIE COLLINS CHIEF ADVANCEMENT AND STRATEGIC PLAN 0 287071 0 50000 0 6600 0 28707 0 29888 0 402266 0 0 MARLA D GOLDEN DO MS TRUSTEE/FACULTY REPRESENTATIVE 0 270511 0 0 0 0 0 40577 0 22253 0 333341 0 0 MARCINE PICKRON-DAVIS CHIEF DIVERSITY OFFICER 0 215854 0 75000 0 6600 0 32378 0 2444 0 332276 0 0 PART I, LINE 3 COMPENSATION PAID TO THE PRESIDENT AND OFFICERS OF PCOM AND PCOM FOUNDATION IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE PCOM BOARD OF TRUSTEES. IN ADDITION, AN ANNUAL REVIEW IS CONDUCTED BY AN INDEPENDENT EXECUTIVE COMPENSATION CONSULTING ORGANIZATION, IN ORDER TO PROVIDE AN OPINION ON THE REASONABLENESS OF AND SUPPORTING COMPARABILITY DATA WITH RESPECT TO TOTAL COMPENSATION OF THE PRESIDENT AND OFFICERS. ALL BONUSES ARE MERIT-BASED. THE OFFICERS WERE COMPENSATED BY A RELATED ORGANIZATION. THE RELATED ORGANIZATION USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE COMPENSATION COMMITTEE. PART II - COMPENSATION OF TRUSTEES MARLA D. GOLDEN, DO, MS, IS A TRUSTEE AND EMPLOYEE OF PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE (PCOM). THE COMPENSATION FOR DR. GOLDEN REPORTED ON FORM 990, PART VII AND SCHEDULE J, PART II IS FOR HER ASSOCIATE DEAN FOR OSTEOPATHIC CLINICAL EDUCATION POSITIONS AT PCOM. DR. GOLDEN IS NOT COMPENSATED FOR HER TIME DEVOTED AS A TRUSTEE. X 1 20796 FMV X 11946 11946 FMV X STETHOSCOPES 270 35097 FMV X MDU MICROSCOPE 1 29000 FMV X WHITE COAT 297 8403 FMV X SURGICAL MICROSCOPE 1 5000 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF DONORS. SCHEDULE M, LINE 31 PCOM FOUNDATION HAS A GIFT ACCEPTANCE COMMITTEE THAT REVIEWS ALL NON-STANDARD CONTRIBUTIONS BEFORE ACCEPTING ANY GIFTS. FORM 990, PART IV, LINE 24A PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE FOUNDATION IS A CO-BORROWER ON TWO TAX-EXEMPT DEBT ISSUES THAT ARE REPORTED SEPARATELY ON PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE'S FORM 990 AND ON OVERMONT CORPORATION'S FORM 990. FORM 990, PART VI, SECTION A, LINE 2 ALL COMPENSATED OFFICERS HAVE A BUSINESS RELATIONSHIP WITH ALL BOARD MEMBERS AS THEY ARE EMPLOYED BY A RELATED ORGANIZATION THAT ALL BOARD MEMBERS ALSO SERVE. FORM 990, PART VI, SECTION A, LINE 6 THE FOUNDATION HAS MEMBERS WHICH INCLUDE THE BOARD OF TRUSTEES AND 1 FACULTY. FORM 990, PART VI, SECTION A, LINE 7A THE FOUNDATION MEMBERS HAVE THE POWER TO ELECT 9 MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE FOUNDATION MEMBERS ALSO HAVE THE AUTHORITY TO CHANGE THE BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX CONSULTANT WITH INFORMATION PROVIDED BY MANAGEMENT. THE AUDIT COMMITTEE REVIEWS AND APPROVES THE FORM 990. PRIOR TO FILING, THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD OF TRUSTEES FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL QUESTIONNAIRE AND DISCLOSURE FORM WAS DEVELOPED BY OUR EXTERNAL LEGAL COUNSEL. EVERY JULY 1ST, THE QUESTIONNAIRE IS SENT OUT TO ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES. THEY ARE CHECKED TO MAKE SURE THAT THEY ARE ALL RETURNED AND SIGNED. THEY ARE THEN REVIEWED BY THE CEO AND CFO. ANY REPORTABLE CONFLICTS ARE THEN SENT TO THE AUDIT COMMITTEE FOR RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THIS ORGANIZATION DOES NOT PAY ANY COMPENSATION TO THE CEO, OFFICERS, OR KEY EMPLOYEES. ALL COMPENSATION IS PAID BY THE PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE AND THE PROCESS IS EXPLAINED IN ITS FORM 990 SCHEDULE O. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER FROM RELATED ORGANIZATION 13,922,500. PCOM FOUNDATION INVESTMENTS LLC 4190 CITY AVENUE PHILADELPHIA PA 19131 473777062 INVESTMENTS PA 12551 6518811 PCOMF PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE 4190 CITY AVENUE PHILADELPHIA PA 19131 231355135 EDUCATION PA 501(C)(3) LINE 2 FOUNDATION 1 OVERMONT CORPORATION 4001 MONUMENT ROAD PHILADELPHIA PA 19131 231922689 HOUSING PA 501(C)(3) LINE 10 PCOM 1 PCOM PRIMARY CARE INNOVATION FUND LLC 4190 CITY AVENUE PHILADELPHIA PA 19131 320505991 INVESTMENTS DE PCOMF EXCLUDED -1374530 3338104 0 0 1.00000 PCOM PRIMARY CARE INNOVATION FUND II LLC 4190 CITY AVENUE PHILADELPHIA PA 19131 863999783 INVESTMENTS DE PCOMF EXCLUDED 11027768 0 0 1.00000 AMERICAN OSTEOPATHIC INSURANCE COMPANY PO BOX 1109 GRAND CAYMAN CJ 980201176 INSURANCE CJ PCOM C 1 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE B 2624721 CASH PCOM PRIMARY CARE INNOVATION FUND LLC B 1342250 CASH PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE S 13922500 CASH PHILADELPHIA COLLEGE OF OSTEOPATHIC MEDICINE E 759094 CASH