2025-08-13T16:55:00-05:00 2024-09-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2024-07-01 900513372 FACULTY PRACTICE FOUNDATION INC & AFFILIATES FACU 6176388000 ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 WILLIAM R CREEVY MD PRESIDENT 6176388000 2025-08-13 1 0 KRISTIN ANDERSON P01231300 6179881000 2025-08-12 2024 2025-03-06 01:10:19Z WILLIAM R CREEVY MD ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 138261106 1 1 8094 X WWW.BUMC.BU.EDU/BUMG X 1994 MA SEE SCHEDULE O. 36 0 0 37 114929 0 0 0 533740972 137999066 1749915 262040 0 0 535490887 138261106 28850 1000500 0 0 450064583 117904491 0 0 0 92577219 26695557 542670652 145600548 -7179765 -7339442 98195940 95216696 33611916 33569939 64584024 61646757 X SEE SCHEDULE O. 0 0 120298565 1000500 137884137 THE FACULTY PRACTICE PLANS ("THE PLANS") WERE ESTABLISHED AS NOT-FOR-PROFIT CORPORATIONS OPERATING EXCLUSIVELY FOR THE BENEFIT OF BOSTON MEDICAL CENTER AND BOSTON UNIVERSITY CHOBANIAN & AVEDISIAN SCHOOL OF MEDICINE. THE PLANS' PURPOSE IS TO PROVIDE, COORDINATE AND FACILITATE THE DELIVERY OF PATIENT CARE SERVICES AND TO PROMOTE THE DEVELOPMENT OF AN INTEGRATED SYSTEM OF DELIVERY TO MORE EFFICIENTLY AND EFFECTIVELY MEET THE HEALTH CARE NEEDS OF THE COMMUNITIES SERVED BY THE INSTITUTIONS. THE PLANS PROVIDE AMBULATORY SERVICES RANGING FROM PRIMARY ADULT AND PEDIATRIC CARE TO ADVANCED SPECIALTY CARE; AFFILIATED PHYSICIANS ALSO STAFF THE LARGEST 24 HOUR LEVEL 1 TRAUMA CENTER IN NEW ENGLAND. 120298565 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 36 0 1 0 0 0 1 0 1 1 1 0 1 1 1 1 1 1 1 1 0 0 0 MA X MARY BETH MOLLOY 6174144030 1 BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 X CHRISTOPHER ANDRY PHD PRES/TREAS/CLERK/DIR - PATH 50.00 0.00 X X 0 0 0 CHRISTIAN ARBELAEZ MD MPH PRES/TREAS/CLERK/DIR - ER 50.00 4.00 X X 0 0 0 RANIA BURKE PHD DIRECTOR - EMF 50.00 0.00 X 0 0 0 ILSE CASTRO-ARAGON MD CLERK/DIRECTOR - RADIO 50.00 0.00 X X 0 0 0 TOBY CHAI MD PRES/TREAS/CLERK/DIR - UROLOGY 50.00 0.00 X X 0 0 0 STEPHEN CHRISTIANSEN MD PRES/TREAS/CLERK/DIR - EYE 50.00 4.00 X X 0 0 0 GERALD DENIS MD DIRECTOR - EMF 50.00 0.00 X 0 0 0 ALIK FARBER MD PRES/TREAS/CLERK/DIR - CT,PS,SA,GS 50.00 0.00 X X 0 0 0 ROSHA FORMAN CNM MSN DIRECTOR - OBGYN 50.00 0.00 X 0 0 0 DAVID GREER MD PRS/TRS/DR-REHAB,PRS/TRS/CLK/DR-NEUR 50.00 0.00 X X 0 0 0 GREGORY GRILLONE MD PRES/DIR - OTO 50.00 4.00 X X 0 0 0 DAVID HENDERSON MD PRES/TREAS/CLERK/DIR - PSYCH 50.00 0.00 X X 0 0 0 PAUL HENDESSI MD DIRECTOR - OBGYN 50.00 0.00 X 0 0 0 CLAUDIA HOCHBERG MD DIRECTOR - EMF 50.00 0.00 X 0 0 0 JAMES HOLSAPPLE MD PRESIDENT/DIRECTOR - NEUROSURG 50.00 0.00 X X 0 0 0 RONALD IVERSON MD DIRECTOR - OBGYN 50.00 0.00 X 0 0 0 PADMASINI KANDADAI MD DIRECTOR - OBGYN 50.00 0.00 X 0 0 0 SAMANTHA KAPLAN MD DIRECTOR - OBGYN 50.00 0.00 X 0 0 0 MIRIAM KOMAROMY MD DIRECTOR - EMF (UNTIL 8/24) 50.00 0.00 X 0 0 0 CHRISTINA LAM MD PRESIDENT/DIRECTOR - DERM 50.00 0.00 X X 0 0 0 KETTIE LOUIS DNP DIRECTOR - OBGYN 50.00 0.00 X 0 0 0 JUSTIN LUI DIRECTOR - EMF (AS OF 9/24) 50.00 0.00 X 0 0 0 KATHARINE O'CONNELL WHITE MD PRESIDENT/DIRECTOR - OBGYN 50.00 0.00 X X 0 0 0 RAFAEL ORTEGA MD PRES/TREAS/CLERK/DIR - ANES 50.00 0.00 X X 0 0 0 ELIJAH PAINTSIL MD PRES/TREAS/CLERK/DIR - CHF 50.00 0.00 X X 0 0 0 ASHVIN PANDE MD DIRECTOR - EMF 50.00 0.00 X 0 0 0 SUSANNAH ROWE MD DIRECTOR - EYE 50.00 0.00 X 0 0 0 SHANSHAN SHEEHY DIRECTOR - EMF (AS OF 9/1/2024) 50.00 0.00 X 0 0 0 NICOLE SIEGEL MD DIRECTOR - EYE 50.00 0.00 X 0 0 0 JORGE SOTO MD PRESIDENT/DIRECTOR - RADIO 50.00 0.00 X X 0 0 0 MANJU SUBRAMANIAN MD DIRECTOR - EYE 50.00 4.00 X 0 0 0 JAROSLAW TKACZ MD TREASURER/DIRECTOR - RADIO 50.00 0.00 X X 0 0 0 PAUL TORNETTA MD PRES/TREAS/CLERK/DIR - ORTHO 50.00 0.00 X X 0 0 0 MINH-TAM TRUONG MD PRES/TREAS/CLERK/DIR - RAD ONC 50.00 0.00 X X 0 0 0 SUSHRUT WAIKAR MD MPH PRES/TREAS/DIR - EMF 50.00 0.00 X X 0 0 0 STEPHEN WILSON MD PRES/TREAS/CLERK/DIR - FAM 50.00 0.00 X X 0 0 0 GOPALA YADAVALLI MD DIRECTOR - EMF 50.00 0.00 X 0 0 0 DAVID BECK SCHEDULE O DISCLOSURE 5.00 50.00 X 0 0 0 CAROL BOUDROT CLERK - OBGYN 50.00 0.00 X 0 0 0 JAMIE LEVY TREASURER/CLERK - DERM 50.00 0.00 X 0 0 0 MATTHEW NIVISON TREAS/CLK-NEUROSURG & TREAS-OTO 50.00 0.00 X 0 0 0 JACOB PIETER NOORDZIJ MD CLERK - OTO 50.00 4.00 X 0 0 0 ANNA PATRUSHEVA TREASURER - OBGYN 50.00 0.00 X 0 0 0 0 0 0 0 0 PATIENT REVENUE 900099 57164794 57049865 114929 INSTITUTIONAL SUPPORT 541380 49205016 49205016 REIMBURSEMENT OF OPERATING EXP 900099 23548390 23548390 CONTRACT & HEALTH CENTER REVENUE 900099 5251215 5251215 CAPITATION REVENUE 900099 1050555 1050555 1779096 1779096 137999066 262040 262040 138261106 137884137 114929 262040 1000500 1000500 6568101 5403972 1164129 730192 529032 201160 86275455 70139554 16135901 24330743 19709256 4621487 5520423 4574780 945643 1577 1362 215 317302 246164 71138 535599 399575 136024 150783 124988 25795 771668 628332 143336 2495 1934 561 5057849 4107021 950828 149786 108985 40801 3072182 2526583 545599 BAD DEBT EXPENSE 7984382 7939229 45153 MEDICAL & SURGICAL SUPP 1747828 1747828 DUES & LICENSES 538178 435820 102358 845505 673650 171855 145600548 120298565 25301983 0 10580337 11271205 143989 190630 26535234 25599449 10886188 8078474 2914651 2807714 45495706 48215710 12526023 7131988 98195940 95216696 10578027 11529785 2657147 2430268 20376742 19609886 33611916 33569939 X 64584024 61646757 64584024 61646757 98195940 95216696 X -7339442 2460031 1942144 X X 0 0 0 X X 2 BOSTON MEDICAL CENTER 043314093 3 0 0 0 TRUSTEES OF BOSTON UNIVERSITY 042103547 2 0 1000000 0 2 1000000 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 X 1 1 SCHEDULE A, PART IV, SECTION A, LINE 6 IN ADDITION TO PROVIDING SUPPORT TO THEIR SUPPORTED ORGANIZATIONS, THE FACULTY PRACTICE PLANS ALSO PROVIDE SUPPORT TO ORGANIZATIONS THAT ADVANCE THE MISSION OF THE PLANS AND THEIR SUPPORTED ORGANIZATIONS TO PROVIDE, COORDINATE, AND FACILITATE THE DELIVERY OF PATIENT CARE SERVICES. SCHEDULE A, PART IV, SECTION E, LINE 2A & 2B THE FACULTY PRACTICE PLANS ("THE PLANS") WERE ESTABLISHED AS NOT-FOR-PROFIT CORPORATIONS OPERATING EXCLUSIVELY FOR THE BENEFIT OF BOSTON MEDICAL CENTER AND BOSTON UNIVERSITY CHOBANIAN & AVEDISIAN SCHOOL OF MEDICINE. THE PLANS' PURPOSE IS TO PROVIDE, COORDINATE AND FACILITATE THE DELIVERY OF PATIENT CARE SERVICES AND TO PROMOTE THE DEVELOPMENT OF AN INTEGRATED SYSTEM OF DELIVERY TO MORE EFFICIENTLY AND EFFECTIVELY MEET THE HEALTH CARE NEEDS OF THE COMMUNITIES SERVED BY THE INSTITUTIONS. THE PLANS PROVIDE AMBULATORY SERVICES RANGING FROM PRIMARY ADULT AND PEDIATRIC CARE TO ADVANCE SPECIALTY CARE; AFFILIATED PHYSICIANS ALSO STAFF THE LARGEST 24 HOUR LEVEL 1 TRAUMA CENTER IN NEW ENGLAND. SCHEDULE A, PART I, LINE 12G, COLUMN VI TYPE OF OTHER SUPPORT: GENERAL SUPPORT 3211108 2221581 989527 6166952 5445881 721071 1508128 411012 1097116 2807714 OTHER RECEIVABLES 4470679 DUE FROM AFFILIATES 2049441 OTHER ASSETS 611868 7131988 DUE TO AFFILIATES 18936662 LONG TERM CAPITAL LEASE OBLIGATION 219552 OTHER LIABILITIES 453672 19609886 X PART X, LINE 2: BOSTON MEDICAL CENTER HEALTH SYSTEM RECOGNIZES INCOME TAX POSITIONS WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINABLE BASED ON THE MERITS OF THE POSITION. MANAGEMENT HAS CONCLUDED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT NEED TO BE RECORDED AS OF SEPTEMBER 30, 2024 AND 2023. BMCHS ANNUALLY ASSESSES WHETHER IT MUST RECOGNIZE UBIT EXPENSE. THE AMOUNTS RECOGNIZED AS UBIT EXPENSE WERE NOT MATERIAL TO BMCHS'S CONSOLIDATED OPERATIONS OR CHANGES IN NET ASSETS FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023. 1 TRUSTEES OF BOSTON UNIVERSITY 881 COMMONWEALTH AVE 4TH FL BOSTON MA 022151303 042103547 501 (C) (3) 1000000 0 CAREER DEVELOPMENT PROFESSORSHIP 1 0 PART I, LINE 2: FACULTY PRACTICE FOUNDATION, INC. AND AFFILIATES DO NOT DISTRIBUTE RESEARCH OR EDUCATIONAL GRANTS TO NON-501(C)(3) ORGANIZATIONS. THE FUNDS NOTED IN PART II REFLECT DONATIONS MADE BY FACULTY PRACTICE FOUNDATION, INC. AND AFFILIATES TO QUALIFIED 501(C)(3) ORGANIZATIONS. ALL DONATIONS ARE SUBJECT TO REVIEW AND APPROVAL BY THE INDIVIDUAL PRACTICE ADMINISTRATION. FORM 990, PART I, LINE 1 & PART III, LINES 1 THE FACULTY PRACTICE PLANS ("THE PLANS") WERE ESTABLISHED AS NOT-FOR-PROFIT CORPORATIONS OPERATING EXCLUSIVELY FOR THE BENEFIT OF BOSTON MEDICAL CENTER AND BOSTON UNIVERSITY CHOBANIAN & AVEDISIAN SCHOOL OF MEDICINE. THE PLANS' PURPOSE IS TO PROVIDE, COORDINATE AND FACILITATE THE DELIVERY OF PATIENT CARE SERVICES AND TO PROMOTE THE DEVELOPMENT OF AN INTEGRATED SYSTEM OF DELIVERY TO MORE EFFICIENTLY AND EFFECTIVELY MEET THE HEALTH CARE NEEDS OF THE COMMUNITIES SERVED BY THE INSTITUTIONS. THE PLANS PROVIDE AMBULATORY SERVICES RANGING FROM PRIMARY ADULT AND PEDIATRIC CARE TO ADVANCED SPECIALTY CARE; AFFILIATED PHYSICIANS ALSO STAFF THE LARGEST 24 HOUR LEVEL 1 TRAUMA CENTER IN NEW ENGLAND. FORM 990, PART IV, LINE 23 IN ACCORDANCE WITH INSTRUCTIONS, PART IV, LINE 23 IS ANSWERED NO FOR THIS SHORT-YEAR RETURN AS NO COMPENSATION IS REPORTED. HOWEVER, ANNUAL COMPENSATION IS REPORTED ON THE ORGANIZATION'S PRIOR 990 FOR YEAR ENDED JUNE 30, 2024. FORM 990, PART V, LINE 1A THE NUMBER REPORTED IN BOX 3 OF THE ORGANIZATION'S 2023 FORM 1096 WAS REPORTED ON THE PRIOR 990 FOR TAX YEAR ENDED JUNE 30, 2024. FORM 990, PART VI, SECTION A, LINE 2 ALL OFFICERS AND DIRECTORS ARE EMPLOYEES OF EITHER THE INDIVIDUAL PRACTICE PLAN, BOSTON UNIVERSITY OR BOSTON MEDICAL CENTER, RELATED ORGANIZATIONS. CERTAIN OFFICERS AND DIRECTORS OF THE PRACTICE PLANS ALSO SERVE AS OFFICERS AND TRUSTEES OF BOSTON MEDICAL CENTER. FORM 990, PART VI, SECTION A, LINE 6 WITH THE EXCEPTION OF THOSE LISTED BELOW, THE SOLE CORPORATE MEMBER OF THE ORGANIZATIONS INCLUDED IN THIS GROUP RETURN IS FACULTY PRACTICE FOUNDATION, INC. BU SURGICAL ASSOCIATES IS THE SOLE CORPORATE MEMBER OF THE FOLLOWING: - BOSTON UNIVERSITY CARDIAC AND THORACIC SURGICAL FOUNDATION, INC. - BOSTON UNIVERSITY GENERAL SURGICAL ASSOCIATES, INC. - BOSTON UNIVERSITY NEUROSURGICAL ASSOCIATES, INC. - BOSTON UNIVERSITY ORTHOPAEDIC SURGICAL ASSOCIATES, INC. - BOSTON UNIVERSITY PLASTIC SURGERY ASSOCIATES, INC. - BOSTON UNIVERSITY MEDICAL CENTER UROLOGISTS, INC. - BUMC OTOLARYNGOLOGIC FOUNDATION, INC. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN ACTIONS MUST BE APPROVED BY THE ORGANIZATION'S SOLE CORPORATE MEMBER, AS SET FORTH IN THE BYLAWS, INCLUDING ADOPTION OF THE BUDGET, ANY MERGER, CONSOLIDATION, LIQUIDATION OR DISSOLUTION, ANY CAPITAL TRANSACTION, AND INCURRENCE OF DEBT. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO THE FILING OF THE FORM 990 WITH THE IRS, THE FORM 990 WAS PREPARED BY OUR OUTSIDE TAX CONSULTANTS AND REVIEWED BY INTERNAL MANAGEMENT. THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOSTON MEDICAL CENTER BOARD OF TRUSTEES THEN REVIEWED THE RETURN. EACH MEMBER OF THE BOARD OF EACH PLAN WAS PROVIDED A COPY OF THE FINAL FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST QUESTIONNAIRES ARE DISTRIBUTED BY THE COMPLIANCE DEPARTMENT OF BMC HEALTH SYSTEM, INC ON AN ANNUAL BASIS FOR THE ENTIRE SYSTEM. THE CHIEF COMPLIANCE OFFICER OF THE SYSTEM OR THEIR DESIGNEE QUERIES TRUSTEES, OFFICERS, AND DIRECTORS ON AT LEAST AN ANNUAL BASIS REGARDING RELATIONSHIPS THAT MAY CREATE POTENTIAL CONFLICTS OF INTEREST. THE CHIEF COMPLIANCE OFFICER OR THEIR DESIGNEE REVIEWS ALL DISCLOSURES AND DETERMINES WHETHER THERE ARE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE CHIEF COMPLIANCE OFFICER ADVISES THE BOARD OF TRUSTEES AND OFFICERS OF THE CORPORATION ACCORDINGLY. FORM 990, PART VI, SECTION B, LINE 15 IN ACCORDANCE WITH INSTRUCTIONS, PART VI LINES 15A/15B ARE ANSWERED NO FOR THIS SHORT-YEAR RETURN AS NO COMPENSATION IS REPORTED IN PART VII. HOWEVER, THE ANNUAL PROCESS FOR DETERMINING THEIR COMPENSATION INCLUDES A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA, AND CONTEMPORANEOUS DOCUMENTATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 THE PLANS DO NOT MAKE THEIR GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE FINANCIAL STATEMENTS ARE MADE AVAILABLE THROUGH THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE. FORM 990, PART VII, SECTION A SHARED SERVICE AGREEMENT THE PLANS ARE AFFILIATED WITH BOSTON MEDICAL CENTER ("BMC") AND BOSTON UNIVERSITY CHOBANIAN & AVEDISIAN SCHOOL OF MEDICINE ("CHOBANIAN & AVEDISIAN SCHOOL"). THE PLANS EACH ENTERED INTO A COMMON PAYMASTER AGREEMENT WITH BMC AND THE TRUSTEES OF BOSTON UNIVERSITY ("BU"). UNDER THE TERMS OF THEIR PHYSICIAN PRACTICE AGREEMENTS, FACULTY PHYSICIANS AND PRACTITIONERS ("FACULTY MEMBERS") ARE EMPLOYED BY THE INDIVIDUAL PLANS. THE FACULTY MEMBERS SERVE THE BENEFIT OF BOTH BMC (BY PROVIDING CLINICAL SERVICES) AND CHOBANIAN & AVEDISIAN SCHOOL (BY SERVING AS FACULTY MEMBERS OF CHOBANIAN & AVEDISIAN SCHOOL). EACH PLAN, WITH RESPECT TO EACH FACULTY MEMBER THAT THE PLAN EMPLOYS, PAYS BU A PERCENTAGE OF THE FACULTY MEMBER'S SALARY AND FRINGE BENEFITS AND RELATED PAYMENT FEES. BOSTON UNIVERSITY, AS COMMON PAYMASTER, THEN MAKES SALARY PAYMENTS AND PROVIDES BENEFITS TO FACULTY MEMBERS. THE PLANS ALSO PAY FOR A PORTION OF ADMINISTRATIVE SALARIES AND FRINGE BENEFITS FOR NONPHYSICIAN EMPLOYEES OF BMC, WHO PROVIDE SERVICES TO THEM. THE CALENDAR YEAR 2023 COMPENSATION OF THE PERSONS REPORTED IN PART VII WAS REPORTED ON THE FORM 990 FILED FOR THE TAX YEAR-ENDED JUNE 30, 2024. IN ACCORDANCE WITH INSTRUCTIONS, NO COMPENSATION IS REPORTED ON THIS SHORT-YEAR RETURN FOR TAX YEAR-ENDED SEPTEMBER 30, 2024. FORM 990, PART VII, LINE 17 DAVID BECK IS ASSISTANT CLERK FOR ALL REPORTING ENTITIES EXCEPT EVANS MEDICAL FOUNDATION AND BOSTON REHABILITATION MEDICINE ASSOCIATES, INC. FOR EVANS AND REHAB, HE SERVES AS CLERK. FOR FACULTY PRACTICE FOUNDATION, INC. HE IS A FORMER ASSISTANT CLERK. FORM 990, PART VII, SECTION B THE CALENDAR YEAR 2023 COMPENSATION OF THE CONTRACTORS REPORTED IN PART VII WAS REPORTED ON THE FORM 990 FILED FOR THE TAX YEAR-ENDED JUNE 30, 2024. IN ACCORDANCE WITH INSTRUCTIONS, NO COMPENSATION IS REPORTED ON THIS SHORT-YEAR RETURN FOR TAX YEAR-ENDED SEPTEMBER 30, 2024. FORM 990, PART XI, LINE 9: NET ASSET TRANSFER FROM AFFILIATES 1,942,144. FORM 990, PART XII, LINE 2B AND 2C THE FACULTY PRACTICE PLANS ARE INCLUDED IN THE BOSTON MEDICAL CENTER HEALTH SYSTEM FINANCIAL STATEMENT AUDIT FOR THE PERIOD 10/1/2023 - 9/30/2024. THE SHORT PERIOD 7/1/2024 - 9/30/2024 WAS NOT SEPARATELY AUDITED. BOSTON MEDICAL CENTER ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043314093 HEALTHCARE MA 501(C)(3) LINE 3 N/A 0 TRUSTEES OF BOSTON UNIVERSITY ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02115 042103547 EDUCATION MA 501(C)(3) LINE 2 N/A 0 FACULTY PRACTICE FOUNDATION INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043289381 HEALTHCARE MA 501(C)(3) 12B, TYPE 1 N/A 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 0 0