FURP.ORG / PUBLIC DATA EXPLORER

FACULTY PRACTICE FOUNDATION INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
FACULTY PRACTICE FOUNDATION INC (EIN 04-3289381)
Tax period
2024-07-01 to 2024-09-30
Filed
2025-08-13
IRS object ID
202542259349303019
Schema version
2024v5.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-08-13T16:55:00-05:00ReturnTs
Tax Period End2024-09-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN135565207PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1KPMG LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line160 SOUTH STREET TWO FINANCIALAddressLine1Txt
Address Line2CENTERAddressLine2Txt
CityBOSTONCityNm
State AbbreviationMAStateAbbreviationCd
ZIP02111ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN043289381EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1FACULTY PRACTICE FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlFACUBusinessNameControlTxt
Phone6176388000PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ONE BOSTON MEDICAL CENTER PLACEAddressLine1Txt
CityBOSTONCityNm
State AbbreviationMAStateAbbreviationCd
ZIP02118ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonWILLIAM R CREEVY MDPersonNm
Person TitlePRESIDENT/TRUSTEEPersonTitleTxt
Phone6176388000PhoneNum
Signature2025-08-13SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonKRISTIN ANDERSONPreparerPersonNm
PTINP01231300PTIN
Phone6179881000PhoneNum
Preparation2025-08-12PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerWILLIAM R CREEVY MDPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ONE BOSTON MEDICAL CENTER PLACEAddressLine1Txt
CityBOSTONCityNm
State AbbreviationMAStateAbbreviationCd
ZIP02118ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$4,442,400GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Group Exemption8094GroupExemptionNum
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.BUMC.BU.EDU/BUMGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1994FormationYr
Legal Domicile StateMALegalDomicileStateCd
Activity Or MissionSEE SCHEDULE O.ActivityOrMissionDesc
Voting Members Governing Body14VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers15TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$20,385,910PYProgramServiceRevenueAmt
CY Program Service Revenue$4,293,086CYProgramServiceRevenueAmt
PY Investment Income$767,647PYInvestmentIncomeAmt
CY Investment Income$149,314CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$21,153,557PYTotalRevenueAmt
CY Total Revenue$4,442,400CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$22,206,191PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$4,998,531CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$7,545,659PYOtherExpensesAmt
CY Other Expenses$1,953,958CYOtherExpensesAmt
PY Total Expenses$29,751,850PYTotalExpensesAmt
CY Total Expenses$6,952,489CYTotalExpensesAmt
PY Revenues Less Expenses-$8,598,293PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$2,510,089CYRevenuesLessExpensesAmt
Total Assets BOY$105,586,370TotalAssetsBOYAmt
Total Assets EOY$106,090,760TotalAssetsEOYAmt
Total Liabilities BOY$94,078,282TotalLiabilitiesBOYAmt
Total Liabilities EOY$95,874,735TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$11,508,088NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$10,216,025NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionSEE SCHEDULE O.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$5,323,766ExpenseAmt
Revenue$4,293,086RevenueAmt
DescSEE SCHEDULE O.Desc
Total Program Service Expenses$5,323,766TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtYes (1)ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
Info In Schedule O Part VYes (X)InfoInScheduleOPartVInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members14GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To ApprovaYes (1)DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local ChaptersYes (1)LocalChaptersInd
Policies Reference ChaptersYes (1)PoliciesReferenceChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldMAStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MARY BETH MOLLOYBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6174144030PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1ONE BOSTON MEDICAL CENTER PLACEAddressLine1Txt
CityBOSTONCityNm
State AbbreviationMAStateAbbreviationCd
ZIP02118ZIPCd
FieldValueIRS element (for citing)
Info In Schedule O Part VIIYes (X)InfoInScheduleOPartVIIInd

Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
KAREN ANTMAN MD
TRUSTEE4.0050.00Yes (X)$0$0$0
CHRISTIAN ARBELAEZ MD MPH
TRUSTEE4.0050.00Yes (X)$0$0$0
ANITA CARSON
TRUSTEE (UNTIL 9/25/24)4.0050.00Yes (X)$0$0$0
RENA CONTI PHD
TRUSTEE (AS OF 9/25/24)4.0050.00Yes (X)$0$0$0
WILLIAM CREEVY MD
TRUSTEE/PRESIDENT32.0022.00Yes (X)$0$0$0Yes (X)
THAMARAH CREVECOEUR CNM
TRUSTEE4.0050.00Yes (X)$0$0$0
MANISHI DESAI MD
TRUSTEE4.0050.00Yes (X)$0$0$0
MEGHAN DIERKS MD
TRUSTEE4.000.00Yes (X)$0$0$0
ALIK FARBER MD
TRUSTEE4.0050.00Yes (X)$0$0$0
GREGORY GRILLONE MD
TREASURER, TRUSTEE4.0050.00Yes (X)$0$0$0Yes (X)
ANTHONY HOLLENBERG MD
TRUSTEE4.0050.00Yes (X)$0$0$0
MONICA NOETHER PHD
TRUSTEE/CHAIR4.000.00Yes (X)$0$0$0Yes (X)
JACOB PIETER NOORDZIJ MD
TRUSTEE4.0050.00Yes (X)$0$0$0
MANJU SUBRAMANIAN MD
TRUSTEE4.0050.00Yes (X)$0$0$0
SUSHRUT WAIKAR MD MPH
TRUSTEE4.0055.00Yes (X)$0$0$0
RICHARD SUGARMAN
CLERK4.0055.00$0$0$0Yes (X)
FieldValueIRS element (for citing)
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescINSTITUTIONAL SUPPORTDesc
Business900099BusinessCd
Total Revenue Column$4,293,086TotalRevenueColumnAmt
Related Or Exempt Func Income$4,293,086RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$4,293,086TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$149,314TotalRevenueColumnAmt
Exclusion$149,314ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$4,442,400TotalRevenueColumnAmt
Related Or Exempt Func Income$4,293,086RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$149,314ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$3,972,941TotalAmt
Program Services$2,939,976ProgramServicesAmt
Management And General$1,032,965ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$1,025,590TotalAmt
Program Services$758,937ProgramServicesAmt
Management And General$266,653ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$770,618TotalAmt
Program Services$770,618ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$22,139TotalAmt
Program Services$16,383ProgramServicesAmt
Management And General$5,756ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$59,713TotalAmt
Management And General$59,713ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$457TotalAmt
Program Services$338ProgramServicesAmt
Management And General$119ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$32,527TotalAmt
Program Services$32,527ProgramServicesAmt

Payments To Affiliates PaymentsToAffiliatesGrp

FieldValueIRS element (for citing)
Total$34,627TotalAmt
Program Services$34,627ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$762TotalAmt
Program Services$564ProgramServicesAmt
Management And General$198ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$8,891TotalAmt
Program Services$8,891ProgramServicesAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
CORPORATE ALLOCATIONS$1,001,404$741,039$260,365
MED/SURG SUPPLIES$11,458$11,458
DUES & LICENSES$11,362$8,408$2,954

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$6,952,489TotalAmt
Program Services$5,323,766ProgramServicesAmt
Management And General$1,628,723ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$34,401,236BOYAmt
EOY$35,406,216EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$21,167LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$11,346LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$10,583BOYAmt
EOY$9,821EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$7,013,678BOYAmt
EOY$7,405,175EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$64,160,873BOYAmt
EOY$63,269,548EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$105,586,370BOYAmt
EOY$106,090,760EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$8,529,115BOYAmt
EOY$9,377,135EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$85,549,167BOYAmt
EOY$86,497,600EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$94,078,282BOYAmt
EOY$95,874,735EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$11,508,088BOYAmt
EOY$10,216,025EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$11,508,088BOYAmt
EOY$10,216,025EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$105,586,370BOYAmt
EOY$106,090,760EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss-$2,510,089ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$343,723NetUnrlzdGainsLossesInvstAmt
Donated Services And Use Fclts$2,816,447DonatedServicesAndUseFcltsAmt
Other Changes In Net Assets-$1,942,144OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Supporting Organization509a3Yes (X)SupportingOrganization509a3Ind
Supporting Org Type2Yes (X)SupportingOrgType2Ind
Supported Organizations2SupportedOrganizationsCnt

Supported Org Information SupportedOrgInformationGrp (2 entries)

EINEINOrganization TypeOrganizationTypeCdGoverning Document ListedGoverningDocumentListedIndSupportSupportAmtOther SupportOtherSupportAmt
TRUSTEES OF BOSTON UNIVERSITY
04210354720$0$0
BOSTON MEDICAL CENTER
04331409330$0$0
FieldValueIRS element (for citing)
Supported Organizations Total2SupportedOrganizationsTotalCnt
Support Sum$0SupportSumAmt
Other Support Sum$0OtherSupportSumAmt

Form990 Sch A Supporting Org Form990SchASupportingOrgGrp

FieldValueIRS element (for citing)
Listed By Name Governing DocYes (1)ListedByNameGoverningDocInd
Suprt Org No IRS Determination0SuprtOrgNoIRSDeterminationInd
Supported Org Section C4560SupportedOrgSectionC456Ind
Supported Org Not Organized US0SupportedOrgNotOrganizedUSInd
Organization Change Suprt Org0OrganizationChangeSuprtOrgInd
Support Non Supported Org0SupportNonSupportedOrgInd
Payment Substantial Contribtr0PaymentSubstantialContribtrInd
Loan Disqualified Person0LoanDisqualifiedPersonInd
Controlled Disqualified Prsn0ControlledDisqualifiedPrsnInd
Disqualified Prsn Controll Int0DisqualifiedPrsnControllIntInd
Disqualified Prsn Ownr Int0DisqualifiedPrsnOwnrIntInd
Excess Business Holdings Rules0ExcessBusinessHoldingsRulesInd
Contribution Controller0ContributionControllerInd
Contribution Family0ContributionFamilyInd
Contribution35 Controlled0Contribution35ControlledInd
FieldValueIRS element (for citing)
Majority Dir Trst Supported Org0MajorityDirTrstSupportedOrgInd

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferenceSCHEDULE A, PART IV, SECTION C, LINE 1FormAndLineReferenceDesc
ExplanationTHE ORGANIZATION'S CORPORATE MEMBERS (WHICH ARE ALSO THE SUPPORTED ORGANIZATIONS) MUST APPROVE CERTAIN ACTIONS OF THE ORGANIZATION. THOSE APPROVALS BY THE CORPORATE MEMBERS, AS SET FORTH IN THE BYLAWS, INCLUDE ANY MERGER, CONSOLIDATION, LIQUIDATION OR DISSOLUTION, ANY LOAN AGREEMENT, AND ANY AGREEMENT TO ENCUMBER THE ACCOUNTS OR TANGIBLE OR INTANGIBLE ASSETS OF THE ORGANIZATION. THE MEMBERS MUST ALSO APPROVE AN INCREASE OR DECREASE IN THE NUMBER OF TRUSTEES OR OFFICERS, THE ADDITION OF NEW MEMBERS, AND THE ANNUAL OPERATING BUDGET.ExplanationTxt

Schedule D IRS990ScheduleD

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$21,167OtherCostOrOtherBasisAmt
Depreciation$11,346DepreciationAmt
Book Value$9,821BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$9,821TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (2 entries)

DescDescBook ValueBookValueAmt
OTHER ASSETS$61,731
INSURANCE RECOVERIES RECEIVABLE$63,207,817
FieldValueIRS element (for citing)
Total Book Value Other Assets$63,269,548TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDescAmtAmt
DUE TO AFFILIATES$16,463,528
PROFESSIONAL LIABILITY CLAIMS$63,207,817
LONG TERM PROFESSIONAL LIABILITY RESERVE$6,826,255
FieldValueIRS element (for citing)
Total Liability$86,497,600TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationBOSTON 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.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (16 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART I, LINE 1, AND PART III, LINE 1FACULTY PRACTICE FOUNDATION, INC.'S ("THE FOUNDATION") PRIMARY MISSION IS TO IMPROVE THE HEALTH OF ALL, BY LEADING THROUGH INNOVATION AND COLLABORATION IN PATIENT CARE, EDUCATION, AND RESEARCH; AND TO PROMOTE THE PROFESSIONAL AND PERSONAL WELL-BEING OF ITS PHYSICIANS AND OTHER PROVIDERS. THE FOUNDATION FACILITATES THE EFFICIENT AND EFFECTIVE PROVISION OF MEDICAL SERVICES TO THE COMMUNITY THROUGH THE FACULTY PRACTICE PLANS.
FORM 990, PART III, LINE 4AFACULTY PRACTICE FOUNDATION, INC. IS AFFILIATED WITH THE FOLLOWING FACULTY PRACTICE PLANS ("THE PLANS") AND FACILITATES THE EFFICIENT AND EFFECTIVE PROVISION OF MEDICAL SERVICES TO THE COMMUNITY THROUGH THE PLANS: BOSTON EMERGENCY PHYSICIAN FOUNDATION, INC. BOSTON REHABILITATION MEDICINE ASSOCIATES, INC. BOSTON UNIVERSITY CARDIAC & THORACIC SURGICAL FOUNDATION, INC. BOSTON UNIVERSITY DERMATOLOGY SUPPORT SERVICES I, INC. BOSTON UNIVERSITY DERMATOLOGY SUPPORT SERVICES II, INC. BOSTON UNIVERSITY DERMATOLOGY, INC. BOSTON UNIVERSITY EYE ASSOCIATES, INC. BOSTON UNIVERSITY FAMILY MEDICINE, INC. BOSTON UNIVERSITY GENERAL SURGICAL ASSOCIATES, INC. BOSTON UNIVERSITY MALLORY PATHOLOGY ASSOCIATES, INC. BOSTON UNIVERSITY MEDICAL CENTER ANESTHESIOLOGISTS, INC. BOSTON UNIVERSITY MEDICAL CENTER OTOLARYNGOLOGIC FOUNDATION, INC. BOSTON UNIVERSITY MEDICAL CENTER RADIOLOGISTS, INC. BOSTON UNIVERSITY MEDICAL CENTER UROLOGISTS, INC. BOSTON UNIVERSITY NEUROLOGY ASSOCIATES, INC. BOSTON UNIVERSITY NEUROSURGICAL ASSOCIATES, INC. BOSTON UNIVERSITY OBSTETRICS & GYNECOLOGY FOUNDATION, INC. BOSTON UNIVERSITY ORTHOPAEDIC SURGICAL ASSOCIATES, INC. BOSTON UNIVERSITY PLASTIC SURGERY ASSOCIATES, INC. BOSTON UNIVERSITY PSYCHIATRY ASSOCIATES, INC. BOSTON UNIVERSITY RADIATION ONCOLOGY, INC. BOSTON UNIVERSITY SURGICAL ASSOCIATES, INC. CHILD HEALTH FOUNDATION OF BOSTON, INC. EVANS MEDICAL FOUNDATION, INC. THE FOUNDATION, INCORPORATED ON OCTOBER 18, 1994, IS A TAX-EXEMPT, NON-PROFIT MASSACHUSETTS CORPORATION OPERATED EXCLUSIVELY FOR CLINICAL, CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES. THE PLANS, ALSO TAX-EXEMPT, NON-PROFIT CORPORATIONS, WERE ESTABLISHED TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF BMC AND BOSTON UNIVERSITY CHOBANIAN & AVEDISIAN SCHOOL OF MEDICINE ("CHOBANIAN & AVEDISIAN SCHOOL") (COLLECTIVELY, THE "INSTITUTIONS"). THE FOUNDATION IS GRANTED THE POWER TO APPROVE THE PLANS' ANNUAL OPERATING BUDGETS, PHYSICIAN COMPENSATION PLANS, AND MANAGED CARE CONTRACTS. 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.
FORM 990, PART IV, LINE 23IN 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 2 & PART IX, LINES 7 AND 9FACULTY PRACTICE FOUNDATION HAS NO EMPLOYEES. HOWEVER, IT REIMBURSES THE TRUSTEES OF BOSTON UNIVERSITY AND BOSTON MEDICAL CENTER FOR USE OF ITS EMPLOYEES.
FORM 990, PART V, LINE 1ATHE 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 2ALL OFFICERS AND TRUSTEES EXCEPT GENE LINDSEY AND MONICA NOETHER ARE EMPLOYEES OF EITHER BOSTON UNIVERSITY, BOSTON MEDICAL CENTER, OR THE FACULTY PRACTICE PLAN CORPORATIONS, RELATED ORGANIZATIONS. CERTAIN OFFICERS AND TRUSTEES OF THE FOUNDATION ALSO SERVE AS OFFICERS AND TRUSTEES OF BOSTON MEDICAL CENTER.
FORM 990, PART VI, SECTION A, LINE 6THE MEMBERS OF THE ORGANIZATION ARE TRUSTEES OF BOSTON UNIVERSITY AND BOSTON MEDICAL CENTER.
FORM 990, PART VI, SECTION A, LINE 7AAS OUTLINED IN THE BYLAWS, THE BOARD OF TRUSTEES INCLUDES: - THE PRESIDENTS OF THE PRACTICE PLANS FOR THE DEPARTMENT OF MEDICINE AND THE DEPARTMENT OF SURGERY; - TWO TRUSTEES SELECTED FROM THE PRESIDENTS OF THE OTHER PRACTICE PLANS; - THREE TRUSTEES WHO ARE EACH MEDICAL PROFESSIONALS EMPLOYED BY ONE OF THE PRACTICE PLANS (AT LEAST ONE OF WHOM IS AN ADVANCED PRACTICE PROVIDER); - THREE INDEPENDENT TRUSTEES; - THE PRESIDENT OF THE BOSTON MEDICAL CENTER CORPORATION MEDICAL-DENTAL STAFF; - THE FULL-TIME CEO OF THE FOUNDATION, SERVING AS THE PRESIDENT; - THE CEO OF BMC; AND - THE DEAN OF CHOBANIAN & AVEDISIAN SCHOOL.
FORM 990, PART VI, SECTION A, LINE 7BCERTAIN ACTIONS MUST BE APPROVED BY THE MEMBERS, AS SET FORTH IN THE BYLAWS, INCLUDING ANY MERGER, CONSOLIDATION, LIQUIDATION OR DISSOLUTION, ANY LOAN AGREEMENT, AND ANY AGREEMENT TO ENCUMBER THE ACCOUNTS OR TANGIBLE OR INTANGIBLE ASSETS OF THE ORGANIZATION. THE MEMBERS MUST ALSO APPROVE AN INCREASE OR DECREASE IN THE NUMBER OF TRUSTEES OR OFFICERS, THE ADDITION OF NEW MEMBERS, AND THE ANNUAL OPERATING BUDGET.
FORM 990, PART VI, SECTION B, LINE 11BPRIOR 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 FACULTY PRACTICE FOUNDATION BOARD WAS PROVIDED A COPY OF THE FINAL FORM 990 PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12CCONFLICT 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 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 C, LINE 19THE FOUNDATION DOES NOT MAKE ITS 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 BTHE 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 IX, LINE 11GPURCHASED SERVICES: PROGRAM SERVICE EXPENSES 770,618. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 770,618.
FORM 990, PART XI, LINE 9:NET ASSET TRANSFER TO AFFILIATES -1,942,144.
FORM 990, PART XII, LINE 2B AND 2CFACULTY PRACTICE FOUNDATION, INC. IS 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.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (26 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile StateLegalDomicileStateCdExempt Code SectionExemptCodeSectionTxtPublic Charity StatusPublicCharityStatusTxtDirect Controlling NADirectControllingNACdControlled OrganizationControlledOrganizationInd
BOSTON EMERGENCY PHYSICIAN FOUNDATION INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043286156HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON REHABILITATION MEDICINE ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043286641HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BU CARDIAC & THORACIC SURGICAL FOUNDATION INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118042966416HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY DERMATOLOGY SUPPORT SERVICES I INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043452877HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY DERMATOLOGY SUPPORT SERVICES II INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043452874HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY DERMATOLOGY INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043335166HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY EYE ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043137333HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY FAMILY MEDICINE INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043354353HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY GENERAL SURGICAL ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043265008HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY MALLORY PATHOLOGY ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118042794543HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BU MEDICAL CENTER ANESTHESIOLOGISTS INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043276227HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BUMC OTOLARYNGOLOGIC FOUNDATION INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043156471HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY MEDICAL CENTER RADIOLOGISTS INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043283573HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERISTY MEDICAL CENTER UROLOGISTS INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043286643HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY NEUROLOGY ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043428462HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY NEUROSURGICAL ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043296068HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY OBSTETRICS & GYNECOLOGY FDN INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043067465HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSOTN UNIVERSITY ORTHOPAEDIC SURGICAL ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043354360HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY PLASTIC SURGERY ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043555478HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY PSYCHIATRY ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043355267HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY RADIATION ONCOLOGY INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118810716773HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
BOSTON UNIVERSITY SURGICAL ASSOCIATES INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043291148HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
CHILD HEALTH FOUNDATION OF BOSTON INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118042472758HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
EVANS MEDICAL FOUNDATION INC
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118510172171HEALTHCAREMA501(C)(3)LINE 12C, III-FIN/A0
TRUSTEES OF BOSTON UNIVERSITY
881 COMMONWEALTH AVENUEBOSTONMA02115042103547EDUCATIONMA501(C)(3)LINE 2N/A0
BOSTON MEDICAL CENTER
ONE BOSTON MEDICAL CENTER PLACEBOSTONMA02118043314093HEALTHCAREMA501(C)(3)LINE 3N/A0
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgYes (1)GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgYes (1)PerformOfServicesForOthOrgInd
Perform Of Services By Other OrgYes (1)PerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (1)SharingOfFacilitiesInd
Paid Employees SharingYes (1)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgYes (1)ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgYes (1)ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd