2016-01-25T13:29:40-06:00 2015-09-30 271728945 O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2014-10-01 131782482 PHYSICIANS HOME INC PHYS 2128364318 445 PARK AVENUE 9TH FLOOR NEW YORK NY 100228632 JOSEPH B CLEARY MD PRESIDENT 2128364318 2016-01-25 1 GARRETT M HIGGINS CPA P00543209 2122862600 2014 2016-04-25 22:37:26Z JOSEPH B CLEARY MD 445 PARK AVENUE 9TH FLOOR NEW YORK NY 100228632 1766390 0 X WWW.PHYSICIANSHOME.ORG X 1919 NY PROVIDED FINANCIAL AID TO ASSIST 35 NEEDY BENEFICIARIES IN THE AMOUNT OF $252,536. 20 19 4 19 0 0 131801 68870 0 0 168866 588715 0 0 300667 657585 268670 252736 0 0 46674 84908 0 0 29968 196056 149311 511400 486955 -210733 170630 7110939 7017948 22026 23098 7088913 6994850 PHYSICIANS' HOME ASSISTS PHYSICIANS WHO FALL ON HARD TIMES AND ARE IN NEED OF FINANCIAL HELP. 0 0 295490 252736 PHYSICIANS' HOME PROVIDES REGULAR FINANCIAL AID TO NEEDY PHYSICIANS OR IMMEDIATE FAMILY MEMBERS OF A DECEASED PHYSICIAN. DURING THE YEAR THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS EVALUATED THE NEEDS OF EACH BENEFICIARY FOR CONTINUED ASSISTANCE. IN ADDITION, SEVEN NEW APPLICATIONS FOR AID WERE REVIEWED AND FOUR WERE ACCEPTED. THE ORGANIZATION PROVIDED $252,536 IN DIRECT ASSISTANCE TO 29 PHYSICIANS AND 6 FAMILY MEMBERS DURING THE YEAR. 295490 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 2 0 4 1 0 0 0 0 0 0 0 0 0 0 X 20 19 0 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 15.00 X X 30000 0 0 ANDREW E SAMA MD DTR/CHAIRMAN/2ND VICE-PRESID 1.50 X X 0 0 0 JOEL ARCHER MD DIRECTOR & 1ST VICE-PRESID 1.50 X X 0 0 0 DONALD D FAGER ESQ DIRECTOR & SECRETARY 0.50 X X 0 0 0 MARTHA REDO ESQ DIRECTOR & TREASURER 1.50 X X 0 0 0 EDWARD J AMSLER ESQ TRUSTEE 0.50 X 0 0 0 STEPHEN CONNOLLY MD DIRECTOR & TRUSTEE (SEE SCH. O) 0.00 X 0 0 0 GEORGE DERMKSIAN MD DIRECTOR 0.50 X 0 0 0 MARY DODD LMSW DIRECTOR 1.50 X 0 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 0.20 X 0 0 0 DAVID S KARAN MD DIRECTOR & TRUSTEE 0.50 X 0 0 0 JOHN A MCCLUNG MD DIRECTOR 0.50 X 0 0 0 ALLEN MEAD MD TRUSTEE (SEE SCH. O) 0.00 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 0.20 X 0 0 0 JACQUELINE SALZER MD DIRECTOR 0.50 X 0 0 0 30000 0 0 0 0 0 0 0 68870 68870 153540 153540 1543980 1108805 435175 435175 435175 657585 0 0 588715 200 200 252536 252536 30715 15659 7528 7528 47309 23653 11828 11828 6884 3442 1721 1721 26050 26050 29674 29674 3030 3030 7111 1703 5408 10608 10155 453 60211 60211 2627 2627 4102 4102 830 830 4793 4793 STATE FILING FEE 275 275 486955 295490 161497 29968 43388 47350 610358 1100923 18634 10928 837 1216 8848 6631 1668 2217 5564104 5009205 863352 836785 8598 9324 7110939 7017948 22026 23098 22026 23098 X 5596793 5529297 863352 836785 628768 628768 7088913 6994850 7110939 7017948 X 170630 -238126 -26567 X X 0 1 X 1 0 X 68218 66296 50578 131801 68870 385763 68218 66296 50578 131801 68870 385763 66479 319284 173744 185453 179014 158930 153540 850681 1236444 0.25820 0.26520 X PHYSICIANS' HOME HAS DEPENDED ON PUBLIC SUPPORT FROM BOTH THE PHYSICIAN AND NON-PHYSICIAN COMMUNITY THROUGHOUT ITS 95-YEAR HISTORY. THE ORGANIZATION MAINTAINS AN ONGOING AND CONTINUOUS PROGRAM TO OBTAIN PUBLIC SUPPORT WHICH INCLUDES A FUNDRAISING APPEAL LETTER SENT TO PREVIOUS DONORS EACH YEAR, USUALLY IN NOVEMBER/DECEMBER. AT VARIOUS INTERVALS APPEAL LETTERS ARE SENT TO ALL NEW YORK STATE PHYSICIANS, NUMBERING OVER 55,000. 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, 2015, PHYSICIANS' HOME RECEIVED ALMOST 600 DONATIONS, LARGE AND SMALL IN AMOUNT, MOSTLY FROM INDIVIDUAL CONTRIBUTORS.IN 2015, 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 NINETY PAGES THIS YEAR, THE JOURNAL WHICH WE FIRST PUBLISHED THREE YEARS AGO, IS WELL RECEIVED, AND, WHILE REQUIRING MUCH EFFORT, HAS BECOME AN IMPORTANT PART OF OUR FUNDRAISING PLAN.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.THE NEW WEBSITE HAS BEEN IN OPERATION FOR THE FISCAL YEAR. THE ORGANIZATION SPENT SUBSTANTIAL TIME AND EFFORT TO EXPAND ITS WEBSITE, NOT ONLY TO PRESENT MORE INFORMATION ABOUT OUR MISSION, BUT ALSO TO PROVIDE POTENTIAL DONORS THE OPPORTUNITY TO CONTRIBUTE ONLINE USING A MAJOR CREDIT CARD. THE DONOR TRANSACTION PAGES OF THE NEW WEBSITE, ACCESSIBLE FROM THE HOME PAGE, HAVE PROVED EASY TO NEGOTIATE, WITH OVER 40 CONTRIBUTIONS COMING VIA THIS ROUTE DURING THE FISCAL YEAR.PHYSICIANS' HOME IS OBTAINING CONTRIBUTOR EMAIL ADDRESSES TO ADD 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 AND 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 2015 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 PROVIDE DIVERSE POINTS OF VIEW REGARDING MATTERS BEFORE THE ORGANIZATION.OUR GOVERNING BODY CONTINUES A SUSTAINED EFFORT TO FURTHER THE MISSION OF THIS 95 YEAR-OLD CHARITABLE ORGANIZATION FOR PHYSICIANS IN NEED. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3884 2587 1297 4964 4044 920 2217 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 836785 F 836785 X 392892 -238126 -26567 -264693 657585 0 657585 486955 0 486955 0 486955 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 TAX RETURNS FOR ALL YEARS SINCE FISCAL 2012 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 -26,567. 1 FINANCIAL ASSISTANCE 35 252536 PART I, LINE 2: PHYSICIANS' HOME MAINTAINS DETAILED RECORDS ON ALL RECIPIENTS OF FINANCIAL ASSISTANCE. THESE RECORDS INCLUDE APPLICATIONS FOR ASSISTANCE ALONG WITH EVIDENCE PERTINENT TO CLAIMS OF FINANCIAL HARDSHIP AND MEDICAL DISABILITY. FOLLOW UP IS PERFORMED ON A REGULAR BASIS USING UPDATE FORMS REVIEWED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 4 AS APPROVED AT ITS ANNUAL MEETING, THE ORGANIZATION CREATED THE POSITION OF CHAIRMAN OF THE BOARD OF DIRECTORS AS OUTLINED IN ARTICLE IV OF THE REVISED BYLAWS. THE CHAIRMAN IS APPOINTED ANNUALLY BY THE BOARD OF DIRECTORS, AND MAY CALL AND PRESIDE OVER MEETINGS OF THE BOARD. THE CHAIRMAN SHALL NOT BE AN EMPLOYEE OF THE CORPORATION, AND SHALL NOT BE CONSIDERED THE CORPORATION'S GENERAL MANAGER OR CEO. THE CHAIRMAN MAY DESIGNATE ANOTHER OFFICER TO ASSUME THE CHAIRMAN'S DUTIES IF THE CHAIRMAN IS UNABLE TO ATTEND A SCHEDULED BOARD MEETING. SUBSEQUENTLY, ARTICLE VII, SECTION 4 OF THE BYLAWS WAS REVISED TO DESIGNATE THAT THE PRESIDENT AND CEO OF THE ORGANIZATION PRESIDES OVER ALL MEETINGS OF THE EXECUTIVE COMMITTEE, AND ATTENDS THE MEETINGS OF THE TRUSTEES, IF SO REQUESTED BY THE TRUSTEES. ARTICLE VII, SECTION 8A WAS UPDATED TO PROVIDE COMPENSATION TO ANY OFFICER WHO PERFORMS THE DUTIES OF GENERAL MANAGER/CEO OF THE ORGANIZATION FOR SERVICES RENDERED TO THE ORGANIZATION IN AN AMOUNT DETERMINED BY THE BOARD OF DIRECTORS. LASTLY, ARTICLE IX WAS ALSO AMENDED TO FURTHER PROHIBIT PAYMENT OF COMPENSATION OR EMOLUMENT FROM THE CORPORATION TO ANY DIRECTOR, TRUSTEE OR OFFICER UNLESS AUTHORIZED BY ARTICLE IX OR BY ARTICLE VII, SECTION 8A, OR BY AMENDMENT TO THE BYLAWS, OR BY AN AFFIRMATIVE VOTE OF 2/3 OF THE DIRECTORS OF THE CORPORATION THEN IN OFFICE. FORM 990, PART VI, SECTION A, LINE 6 PHYSICIANS' HOME HAS TWO (2) CLASSES OF MEMBERSHIP, CONTRIBUTING MEMBERS AND ADMINISTRATIVE MEMBERS. CONTRIBUTORS OF $20 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 11 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 AND PRESIDENT 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 AS IT 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 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. STEPHEN CONNOLLY IS RETIRED FROM PRACTICE FOR SEVERAL YEARS, AND HAS SERVED ON THE BOARD FOR MANY YEARS. HE IS AVAILABLE FOR TELEPHONE DISCUSSIONS, AND HAS CONTRIBUTED IN THIS WAY OVER RECENT YEARS. BECAUSE OF HIS LONG HISTORY OF COMMITMENT TO PHYSICIANS' HOME, HE REMAINS ON THE BOARD UNTIL HIS TERM EXPIRES. ALAN MEAD HAS RETIRED FROM PRACTICE AND MOVED OUT OF TOWN. HE DID NOT STAND FOR REELECTION WHEN HIS TERM EXPIRED IN NOVEMBER 2015. DIRECTORS WILL BE PERIODICALLY INFORMED THAT PARTICIPATION BY ALL TO SOME EXTENT IS EXPECTED. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST -26,567.