2018-02-02T11:10:13-06:00 2017-09-30 271728945 PKF O'Connor Davies LLP 665 Fifth Avenue New York NY 10022 990 2016-10-01 131782482 Physicians Home Inc PHYS 2128364318 445 Park Avenue 9th Floor New York NY 100228632 Joseph B Cleary MD president 2128364318 2018-02-02 1 Garrett M Higgins P00543209 2122862600 2018-01-29 65.51.112.58 2018-02-02 11:10:12 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A3EB9A663B166A7F172762214481AEBFA8C1AD13 2016 2021-01-29 14:40:06Z Joseph B Cleary MD 445 Park Avenue 9th Floor New York NY 100228632 1821179 0 X www.physicianshome.org X 1919 NY Provided financial aid to 32 Beneficiaries in the amount of $276,679. 20 19 3 18 0 0 2513657 150912 0 0 202185 412073 0 0 2715842 562985 242834 276979 0 0 92803 90597 0 0 31650 151692 162948 487329 530524 2228513 32461 9959684 10607638 20900 21950 9938784 10585688 Physicians' Home assists physicians who fall on hard times and are in need of financial help. 0 0 326820 276979 PHYSICIANS' HOME PROVIDES HELP TO PHYSICIANS WHO FALL ON HARD FINANCIAL TIMES AND/OR THEIR IMMEDIATE FAMILY MEMBERS WHO BECOME DEPENDENT. DURING THE YEAR THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS EVALUATED THE NEEDS OF EACH BENEFICIARY FOR CONTINUED ASSISTANCE. DURING THE PAST YEAR, THERE WERE FOUR NEW BENEFICIARIES. THE ORGANIZATION PROVIDED $276,679 IN DIRECT ASSISTANCE TO 26 PHYSICIANS AND 6 FAMILY MEMBERS DURING THE YEAR. 326820 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 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 0 0 0 1 4 0 3 1 0 0 0 0 0 0 0 0 0 0 X 20 19 1 0 1 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NY X X Joseph B Cleary MD 2128364318 445 Park Avenue 9th floor New York NY 10022 X Joseph B Cleary MD Director/President/CEO 15.00 X X 30000 0 0 andrew E Sama MD dtr/Chairman/2nd Vice-President 1.25 X X 0 0 0 joel Archer MD Director & 1st Vice-President 1.25 X X 0 0 0 donald d fager esq director & secretary 0.10 X X 0 0 0 martha redo esq director & treasurer 1.50 X X 0 0 0 edward J Amsler Esq trustee (see sch. o) 0.00 X 0 0 0 stephen Connolly MD Director & Trustee (see sch. o) 0.00 X 0 0 0 george Dermksian MD Director & Trustee 0.50 X 0 0 0 mary Dodd LMSW director (see sch. o) 1.25 X 1112 0 0 william Healy MD director & trustee 0.10 X 0 0 0 bruce c horten md Director 0.50 X 0 0 0 Francis Iacobellis MD Director 0.10 X 0 0 0 Frank Iaquinta MD Director 0.10 X 0 0 0 david s karan md director & trustee 0.20 X 0 0 0 john A McClung MD director 0.50 X 0 0 0 john moore md director 0.50 X 0 0 0 fazlollah moqtaderi md director 1.50 X 0 0 0 mary o'Dowd director 0.10 X 0 0 0 jacqueline salzer md director 0.50 X 0 0 0 Peter VOGES MD Director From November 2016 0.50 X 0 0 0 31112 0 0 0 0 0 0 0 150912 150912 195673 195673 1474594 1258194 216400 216400 216400 562985 0 0 412073 300 300 276679 276679 30000 15000 7500 7500 54159 27079 13540 13540 6438 3218 1610 1610 27895 27895 36499 36499 6513 688 5825 10947 4544 5028 1375 1800 1800 65033 65033 1642 1642 6364 6364 587 587 5109 5109 Foreign Taxes 284 284 NY State Filing fee 275 275 530524 326820 172054 31650 33769 108116 1168630 812156 71271 15399 1169 1239 8848 8045 1390 803 7758461 8683292 915670 976253 9324 10380 9959684 10607638 20900 21950 20900 21950 X 8394346 8980667 915670 976253 628768 628768 9938784 10585688 9959684 10607638 X 32461 553860 60583 X X 0 1 X 1 0 X 50578 131801 68870 154520 150912 556681 50578 131801 68870 154520 150912 556681 211189 345492 179014 158930 153540 151965 195673 839122 1395803 0.24750 0.26110 X PHYSICIANS' HOME HAS DEPENDED ON PUBLIC SUPPORT FROM BOTH THE PHYSICIAN AND NON-PHYSICIAN COMMUNITY THROUGHOUT ITS 98-YEAR HISTORY. THE ORGANIZATION MAINTAINS AN ONGOING AND CONTINUOUS PROGRAM TO OBTAIN PUBLIC SUPPORT WHICH CENTERS ON AN ANNUAL FUNDRAISING APPEAL LETTER SENT TO PREVIOUS DONORS USUALLY IN NOVEMBER/DECEMBER. AT INTERVALS AN APPEAL IS SENT TO ALL NEW YORK STATE PHYSICIANS, NUMBERING OVER 70,000. ADDITIONALLY, MANY OF THE NEW YORK STATE COUNTY MEDICAL SOCIETIES, WHEN SOLICITING THEIR ANNUAL DUES PAYMENT FROM MEMBER PHYSICIANS, ENCOURAGE THE DOCTORS TO ADD AN ADDITIONAL AMOUNT FOR PHYSICIANS' HOME - WHICH THE MEDICAL SOCIETY THEN FORWARDS TO US. DURING THE YEAR ENDED SEPTEMBER 30, 2017, PHYSICIANS' HOME RECEIVED over 400 DONATIONS, LARGE AND SMALL IN AMOUNT, MOSTLY FROM INDIVIDUAL CONTRIBUTORS.IN 2017, ONCE AGAIN PHYSICIANS' HOME PRINTED AND DISTRIBUTED A DONOR'S JOURNAL, PROVIDING CONTRIBUTORS THE OPPORTUNITY TO EXPRESS MESSAGES OF SUPPORT ALONG WITH THEIR DONATION. NUMBERING EIGHTY TWO PAGES THIS YEAR, THE JOURNAL, WHILE REQUIRING MUCH EFFORT, HAS BECOME AN IMPORTANT PART OF OUR FUNDRAISING PLAN.OUR UPDATED WEBSITE HAS BEEN IN OPERATION FOR THREE YEARS NOW. THE ORGANIZATION HAS SPENT SUBSTANTIAL TIME AND EFFORT TO EXPAND THE WEBSITE, NOT ONLY TO PRESENT MORE INFORMATION ABOUT OUR MISSION, BUT ALSO TO PROVIDE POTENTIAL DONORS THE OPPORTUNITY TO CONTRIBUTE ONLINE WITH A CREDIT CARD. THE DONOR TRANSACTION PAGES OF THE WEBSITE, ACCESSIBLE FROM THE HOME PAGE, HAVE PROVED EASY TO NEGOTIATE, WITH CONTRIBUTIONS CONTINUING TO COME IN VIA THIS ROUTE.THE ORGANIZATION'S INVESTMENT PORTFOLIO HAS BEEN BUILT UP GRADUALLY OVER THE YEARS AS A RESULT OF ONGOING GENEROSITY FROM BOTH THE PHYSICIAN AND NON-PHYSICIAN COMMUNITIES. DONATIONS HAVE INCLUDED OVER ONE HUNDRED ESTATE BEQUESTS SINCE THE ORGANIZATION'S FOUNDING IN 1919.DURING THE YEAR ENDED SEPTEMBER 30, 2017 PHYSICIANS' HOME CONTINUED ADDING EMAIL ADDRESSES TO THE ORGANIZATION'S CONTRIBUTOR DATABASE FOR USE IN FUTURE FUNDRAISING EFFORTS.THE ADMINISTRATIVE OFFICE OF THE ORGANIZATION IS STAFFED DAILY, RESPONDING TO INQUIRIES FROM INDIVIDUALS SEEKING HELP, AS WELL AS PAYING CLOSE ATTENTION TO THE DETAILS REQUIRED TO PROCESS DONATIONS AND PREPARE FOR THE PRINTING OF THE DONOR'S JOURNAL. AN EXECUTIVE COMMITTEE OF THE BOARD MEETS ON A REGULAR BASIS, ABOUT ONCE PER MONTH, TO REVIEW BENEFICIARY CIRCUMSTANCES AS WELL AS TO ADDRESS OTHER ISSUES. CHECKS ARE DISBURSED TO BENEFICIARIES ON A MONTHLY BASIS; ON OCCASION, ADDITIONAL ASSISTANCE IS PROVIDED SHOULD AN URGENT BENEFICIARY SITUATION ARISE.THE 20-MEMBER GOVERNING BODY FOR 2017 CONSISTED OF PRACTICING AND RETIRED PHYSICIANS, AS WELL AS LAYPERSONS DEDICATED TO THE MISSION OF PHYSICIANS' HOME. A LICENSED SOCIAL WORKER, THREE ATTORNEYS, AND THE DIRECTOR OF A CHILDREN'S CHARITABLE FOUNDATION HELP TO ADD DIVERSE POINTS OF VIEW REGARDING MATTERS BEFORE THE ORGANIZATION. OUR GOVERNING BODY IS ENTHUSIASTIC AS IT CONTINUES EFFORTS TO FURTHER THE MISSION OF THIS 98 YEAR-OLD CHARITABLE ORGANIZATION. Schedule A, Part VI, List of Unusual Grants: Description: asset Transfer from liquidated entity Date: 03/31/16 Amount: 2359137. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8848 8045 803 803 beneficial interest in charitable remainder trust 976253 F 976253 X 1140645 553860 60583 614443 526202 36499 284 36783 562985 493741 0 493741 36499 284 36783 530524 Part X, Line 2: The Organization recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Management has determined that the Organization had no uncertain tax positions that would require financial statement recognition or disclosure. The Organization's returns for all years since fiscal 2014 remain open to examination by the respective taxing authorities. There are currently no examinations in progress. Part XI, Line 2d - Other Adjustments: change in value of charitable remainder trust 60,583. Part XI, Line 4b - Other Adjustments: Foreign Taxes reported on Part IX 284. Part XII, Line 4b - Other Adjustments: Foreign Taxes reported on Part IX 284. 1 Financial Assistance 32 276679 Part I, Line 2: PHYSICIANS' HOME MAINTAINS DETAILED RECORDS ON ALL RECIPIENTS OF FINANCIAL ASSISTANCE. THESE RECORDS INCLUDE THE INITIAL APPLICATION FOR HELP AS WELL AS REGULAR INTERVAL UPDATES DESCRIBING ANY CHANGES IN CIRCUMSTANCES. AT MONTHLY MEETINGS, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS DETERMINES THE ELIGIBILITY AND NEED FOR ASSISTANCE OF NEW APPLICANTS AND CURRENT BENEFICIARIES. Form 990, Part VI, Section A, line 2 Trustee Edward J. Amsler, esq. and Board Member Donald d. Fager, esq. are each partners in the same healthcare related legal firm. Form 990, Part VI, Section A, line 4 The organization amended its bylaws to reflect the following change: Increase in the donation amount qualifying an individual to become a Member of Physicians' Home from $20 to $25 - Contributors who donate $25 or more to Physicians' Home shall be considered Contributing Members of the Corporation for the fiscal year in which the donation was received. Form 990, Part VI, Section A, line 6 Physicians' Home has two (2) classes of membership, Contributing members and Administrative members. Contributors of $25 or more to Physicians' Home are contributing members of the corporation for that fiscal year. Those elected by the members to be directors, trustees, or officers of the corporation are administrative members. Form 990, Part VI, Section A, line 7a Each Contributing member may attend the annual meeting of the organization, and vote for the governing body. Members of the governing body are considered administrative members. Each contributing member and administrative member of the corporation is entitled to one vote, in person or by proxy, at all meetings of members. Form 990, Part VI, Section B, line 11b The Organization has its Form 990 prepared by an outside accounting firm and has established the following review process to ensure that the information reported is complete and accurate. When the Form 990 has been prepared, reviewed by appropriate officers and the internal accountant and is ready to be filed with the Internal Revenue Service, a paper copy of the Form 990 is provided to the board members of the organization for any comments. Any comments are then grouped, summarized and provided to the outside accountants. Each issue is documented and addressed until the return is finalized and approved for filing. Form 990, Part VI, Section B, line 12c The Physicians' Home conflict of interest policy covers all members of the Board of Directors, Trustees, Officers, Accountant(s), Auditor(s), Investment Manager(s), and office staff. These persons receive a statement of conflict of interest policy (which also covers confidentiality and whistleblower activities). The conflict of interest statement requires that persons covered under the statement will disclose to the Executive Committee any such situation. If and when a potential conflict of interest is disclosed and validated by the executive committee, the person is expected to recuse himself/herself from the related activities. Form 990, Part VI, Section B, line 15 The Director/president/ceo receives compensation for administrative duties as performed for the Organization. This compensation was last established and approved by the Board of Directors in 2007. No review of comparable data was considered necessary since the level of compensation was deemed nominal. Form 990, Part VI, Section C, line 19 THE FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE SERVICE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR WEBSITES. IN ADDITION, FORMS 990 AND 1023, AS WELL AS THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY STATEMENT, ARTICLES OF INCORPORATION AND BYLAWS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST OF THE ORGANIZATION AT 445 PARK AVENUE, 9TH FLOOR, NEW YORK, N.Y. 10022. Form 990, Part VII-A, Column (B) Board Member Hours: BOARD MEMBER HOURS: BOARD MEMBER PARTICIPATION IS DOCUMENTED IN OUR MINUTES, AND AS CAN BE SEEN BY THE MINUTES FOR THE ANNUAL MEETING AND EXECUTIVE COMMITTEE MEETINGS, GOOD REPRESENTATION IS PRESENT TO PROVIDE DISCUSSION AND ADVICE IN REGARD TO THE ACTIVITIES OF THE ORGANIZATION. OF THE TWENTY DIRECTORS AND TRUSTEES THERE WERE TWO WHO WERE UNABLE TO PARTICIPATE TO ANY EXTENT DURING THE YEAR. WHILE UNABLE TO PARTICIPATE DURING THE YEAR ENDED SEPTEMBER 30, 2017, EDWARD J. AMSLER, ESQ, WHO SERVES AS A TRUSTEE, NOT AS A BOARD MEMBER, IS AVAILABLE FOR CONSULTATION AND TRUSTEE MATTERS. STEPHEN CONNOLLY, MD, IS A SENIOR BOARD MEMBER, AND HAS MOVED FROM NEW YORK CITY. HE CURRENTLY REMAINS A BOARD MEMBER TO HONOR HIS MANY YEARS OF SERVICE. DIRECTORS WILL BE PERIODICALLY INFORMED THAT PARTICIPATION BY ALL TO SOME EXTENT IS NECESSARY. BOARD MEMBER MARY DODD, LMSW WAS NOT COMPENSATED FOR HER SERVICES AS A DIRECTOR. SHE RECEIVED $1,112 FOR SOCIAL SERVICES CONSULTING IN 2016. Form 990, Part XI, line 9: change in value of charitable remainder trust 60,583.