2025-09-04T10:53:05-05:00 2024-09-30 135565207 KPMG LLP 60 SOUTH STREET TWO FINANCIAL CENTER BOSTON MA 02111 990 2024-07-01 043289381 FACULTY PRACTICE FOUNDATION INC FACU 6176388000 ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 WILLIAM R CREEVY MD PRESIDENT/TRUSTEE 6176388000 2025-08-27 1 0 KRISTIN ANDERSON P01231300 6179881000 2025-08-27 2024 2025-03-06 01:10:19Z X WILLIAM R CREEVY MD ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 4442400 0 8094 X WWW.BUMC.BU.EDU/BUMG X 1994 MA SEE SCHEDULE O. 14 3 0 15 0 0 0 0 20385910 4293086 767647 149314 0 0 21153557 4442400 0 0 0 0 22206191 4998531 0 0 0 7545659 1953958 29751850 6952489 -8598293 -2510089 105586370 106090760 94078282 95874735 11508088 10216025 X SEE SCHEDULE O. 0 0 5323766 4293086 SEE SCHEDULE O. 5323766 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 14 3 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 0 0 0 MA X MARY BETH MOLLOY 6174144030 ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 X KAREN ANTMAN MD TRUSTEE 4.00 50.00 X 0 0 0 CHRISTIAN ARBELAEZ MD MPH TRUSTEE 4.00 50.00 X 0 0 0 ANITA CARSON TRUSTEE (UNTIL 9/25/24) 4.00 50.00 X 0 0 0 RENA CONTI PHD TRUSTEE (AS OF 9/25/24) 4.00 50.00 X 0 0 0 WILLIAM CREEVY MD TRUSTEE/PRESIDENT 32.00 22.00 X X 0 0 0 THAMARAH CREVECOEUR CNM TRUSTEE 4.00 50.00 X 0 0 0 MANISHI DESAI MD TRUSTEE 4.00 50.00 X 0 0 0 MEGHAN DIERKS MD TRUSTEE 4.00 0.00 X 0 0 0 ALIK FARBER MD TRUSTEE 4.00 50.00 X 0 0 0 GREGORY GRILLONE MD TREASURER, TRUSTEE 4.00 50.00 X X 0 0 0 ANTHONY HOLLENBERG MD TRUSTEE 4.00 50.00 X 0 0 0 MONICA NOETHER PHD TRUSTEE/CHAIR 4.00 0.00 X X 0 0 0 JACOB PIETER NOORDZIJ MD TRUSTEE 4.00 50.00 X 0 0 0 MANJU SUBRAMANIAN MD TRUSTEE 4.00 50.00 X 0 0 0 SUSHRUT WAIKAR MD MPH TRUSTEE 4.00 55.00 X 0 0 0 RICHARD SUGARMAN CLERK 4.00 55.00 X 0 0 0 0 0 0 0 0 INSTITUTIONAL SUPPORT 900099 4293086 4293086 4293086 149314 149314 4442400 4293086 0 149314 X 3972941 2939976 1032965 1025590 758937 266653 770618 770618 22139 16383 5756 59713 59713 457 338 119 32527 32527 34627 34627 762 564 198 8891 8891 CORPORATE ALLOCATIONS 1001404 741039 260365 MED/SURG SUPPLIES 11458 11458 DUES & LICENSES 11362 8408 2954 6952489 5323766 1628723 0 34401236 35406216 21167 11346 10583 9821 7013678 7405175 64160873 63269548 105586370 106090760 8529115 9377135 85549167 86497600 94078282 95874735 X 11508088 10216025 11508088 10216025 105586370 106090760 X -2510089 343723 2816447 -1942144 X X 0 0 0 X X 2 TRUSTEES OF BOSTON UNIVERSITY 042103547 2 0 0 0 BOSTON MEDICAL CENTER 043314093 3 0 0 0 2 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE A, PART IV, SECTION C, LINE 1 THE 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. 21167 11346 9821 9821 OTHER ASSETS 61731 INSURANCE RECOVERIES RECEIVABLE 63207817 63269548 DUE TO AFFILIATES 16463528 PROFESSIONAL LIABILITY CLAIMS 63207817 LONG TERM PROFESSIONAL LIABILITY RESERVE 6826255 86497600 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. FORM 990, PART I, LINE 1, AND PART III, LINE 1 FACULTY 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 AMENDED RETURN EXPLANATION FACULTY PRACTICE FOUNDATION, INC. ("FPF") IS FILING AN AMENDED RETURN FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2024 TO ATTACH OMITTED FORMS TO THE RETURN. FORM 990, PART III, LINE 4A FACULTY 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 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 2 & PART IX, LINES 7 AND 9 FACULTY 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 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 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 6 THE MEMBERS OF THE ORGANIZATION ARE TRUSTEES OF BOSTON UNIVERSITY AND BOSTON MEDICAL CENTER. FORM 990, PART VI, SECTION A, LINE 7A AS 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 7B CERTAIN 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 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 FACULTY PRACTICE FOUNDATION BOARD 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 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 19 THE 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 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 IX, LINE 11G PURCHASED 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 2C FACULTY 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. BOSTON EMERGENCY PHYSICIAN FOUNDATION INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043286156 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON REHABILITATION MEDICINE ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043286641 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BU CARDIAC & THORACIC SURGICAL FOUNDATION INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 042966416 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY DERMATOLOGY SUPPORT SERVICES I INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043452877 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY DERMATOLOGY SUPPORT SERVICES II INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043452874 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY DERMATOLOGY INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043335166 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY EYE ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043137333 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY FAMILY MEDICINE INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043354353 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY GENERAL SURGICAL ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043265008 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY MALLORY PATHOLOGY ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 042794543 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BU MEDICAL CENTER ANESTHESIOLOGISTS INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043276227 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BUMC OTOLARYNGOLOGIC FOUNDATION INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043156471 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY MEDICAL CENTER RADIOLOGISTS INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043283573 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERISTY MEDICAL CENTER UROLOGISTS INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043286643 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY NEUROLOGY ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043428462 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY NEUROSURGICAL ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043296068 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY OBSTETRICS & GYNECOLOGY FDN INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043067465 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSOTN UNIVERSITY ORTHOPAEDIC SURGICAL ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043354360 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY PLASTIC SURGERY ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043555478 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY PSYCHIATRY ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043355267 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY RADIATION ONCOLOGY INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 810716773 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 BOSTON UNIVERSITY SURGICAL ASSOCIATES INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043291148 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 CHILD HEALTH FOUNDATION OF BOSTON INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 042472758 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 EVANS MEDICAL FOUNDATION INC ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 510172171 HEALTHCARE MA 501(C)(3) LINE 12C, III-FI N/A 0 TRUSTEES OF BOSTON UNIVERSITY 881 COMMONWEALTH AVENUE BOSTON MA 02115 042103547 EDUCATION MA 501(C)(3) LINE 2 N/A 0 BOSTON MEDICAL CENTER ONE BOSTON MEDICAL CENTER PLACE BOSTON MA 02118 043314093 HEALTHCARE MA 501(C)(3) LINE 3 N/A 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 1 1 0 0