2015-01-30T14:38:55-06:00 2014-09-30 271728945 O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2013-10-01 131782482 PHYSICIANS HOME INC PHYS 2128364318 445 PARK AVENUE 9TH FLOOR NEW YORK NY 100228632 JOSEPH B CLEARY MD PRESIDENT 2128364318 2015-01-30 1 GARRETT M HIGGINS CPA P00543209 2122862600 2013 2016-04-25 22:37:26Z JOSEPH B CLEARY MD 445 PARK AVENUE 9TH FLOOR NEW YORK NY 100228632 1625671 0 X WWW.PHYSICIANSHOME.ORG X 1919 NY PHYSICIANS' HOME ASSISTS PHYSICIANS WHO FALL ON HARD TIMES AND ARE IN NEED OF FINANCIAL HELP. 19 18 3 20 0 0 50578 131801 0 0 216707 168866 0 0 267285 300667 311980 268670 0 0 71933 46674 0 0 51552 153286 196056 537199 511400 -269914 -210733 7042368 7110939 130431 22026 6911937 7088913 PHYSICIANS' HOME ASSISTS PHYSICIANS WHO FALL ON HARD TIMES AND ARE IN NEED OF FINANCIAL HELP. 0 0 304707 268670 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, EIGHT NEW APPLICATIONS FOR AID WERE REVIEWED AND THREE WERE ACCEPTED. THE ORGANIZATION PROVIDED $268,670 IN DIRECT ASSISTANCE TO 28 PHYSICIANS AND 7 FAMILY MEMBERS DURING THE YEAR. 304707 1 1 0 0 0 0 0 0 0 1 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 3 0 3 1 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 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 MARTHA REDO EEQ DIRECTOR & TREASURER 1.00 X X 0 0 0 DONALD D FAGER ESQ DIRECTOR & SECRETARY 1.00 X X 0 0 0 ALLEN MEAD MD DIRECTOR UNTIL NOV 2013 THEN TRUSTEE 0.00 X 0 0 0 ANDREW E SAMA MD DIRECTOR & 2ND VICE-PRESIDENT 0.50 X X 0 0 0 BRUCE C HORTEN MD DIRECTOR 0.20 X 0 0 0 DAVID S KARAN MD DIRECTOR & TRUSTEE 1.00 X 0 0 0 JOHN MOORE MD DIRECTOR 0.20 X 0 0 0 EDWARD J AMSLER ESQ TRUSTEE 0.20 X 0 0 0 EMILY SONNENBLICK MD DIRECTOR UNTIL NOVEMBER 2013 0.00 X 0 0 0 FAZLOLLAH MOQTADERI MD DIRECTOR 1.00 X 0 0 0 FRANCIS IACOBELLIS MD DIRECTOR 0.00 X 0 0 0 FRANK IAQUINTA MD DIRECTOR 0.20 X 0 0 0 GEORGE DERMKSIAN MD DIRECTOR 0.50 X 0 0 0 JANET POPE-SULLIVAN DIRECTOR UNTIL APRIL 2014 0.20 X 0 0 0 JOEL ARCHER MD DIRECTOR & 1ST VICE-PRESIDENT 1.00 X X 0 0 0 JOHN A MCCLUNG MD DIRECTOR 0.20 X 0 0 0 MARY DODD LMSW DIRECTOR 1.00 X 700 0 0 STEPHEN CONNOLLY MD DIRECTOR & TRUSTEE 0.20 X 0 0 0 WILLIAM HEALY MD DIRECTOR & TRUSTEE 0.20 X 0 0 0 MARY O'DOWD DIRECTOR 0.20 X 0 0 0 30700 0 0 0 0 0 0 0 131801 131801 158930 158930 1334940 1325004 9936 9936 9936 300667 0 0 168866 268670 268670 29984 14992 7496 7496 13402 6701 3350 3351 3288 1644 822 822 26063 26063 29555 29555 25100 12700 6200 6200 47844 14161 33683 57872 57872 2055 2055 4123 4123 555 555 2889 2889 511400 304707 155141 51552 31795 43388 458286 610358 16975 18634 897 837 14981 13313 1728 1668 5685380 5564104 838907 863352 8400 8598 7042368 7110939 130431 22026 130431 22026 X 5444262 5596793 838907 863352 628768 628768 6911937 7088913 7042368 7110939 X -210733 363264 24445 X X 0 1 X 1 0 X 54922 68218 66296 50578 131801 371815 54922 68218 66296 50578 131801 371815 46225 325590 158831 173744 185453 179014 158930 855972 1227787 0.26520 0.26570 X PHYSICIANS' HOME HAS DEPENDED ON PUBLIC SUPPORT FROM BOTH THE PHYSICIAN AND NON-PHYSICIAN COMMUNITY THROUGHOUT ITS 95-YEAR HISTORY. EACH YEAR, USUALLY IN NOVEMBER/DECEMBER, A FUNDRAISING APPEAL IS SENT TO PREVIOUS DONORS. AT INTERVALS, MOST RECENTLY IN DECEMBER 2013, THE FUNDRAISING APPEAL IS SENT TO ALL PHYSICIANS IN NEW YORK STATE, OVER 55,000 IN NUMBER. THE MEDICAL SOCIETY OF THE STATE OF NEW YORK ASSISTS IN SUCH A LARGE MAILING BY PROVIDING CONTACT INFORMATION FOR ALL THESE DOCTORS. DURING THE LAST YEAR PHYSICIANS' HOME RECEIVED ABOUT 800 DONATIONS, LARGE AND SMALL IN AMOUNT, MOSTLY FROM INDIVIDUAL CONTRIBUTORS. MANY OF THE 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. IN 2014, 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 ONE-HUNDRED PAGES THIS YEAR, THE JOURNAL IS ALWAYS 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 FROM WHOM HAVE INCLUDED MANY ESTATE BEQUESTS.JUST RECENTLY THIS PAST YEAR, THE ORGANIZATION SPENT SUBSTANTIAL TIME AND EFFORT TO EXPAND ITS WEB SITE, NOT ONLY TO PRESENT MORE INFORMATION ABOUT OUR MISSION, BUT ALSO TO PROVIDE POTENTIAL DONORS THE OPPORTUNITY TO CONTRIBUTE ONLINE. THE DONOR TRANSACTION PAGES OF THE NEW WEB SITE HAVE PROVED EASY TO NEGOTIATE, AND SEVERAL CONTRIBUTIONS HAVE BEEN COMING VIA THIS ROUTE.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 21 MEMBER GOVERNING BODY FOR 2014 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 IS EAGER TO CONTINUE TAKING RESPONSIBILITY FOR THE CONTINUED VIABILITY OF THIS 95 YEAR-OLD CHARITABLE ORGANIZATION FOR PHYSICIANS IN NEED. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 628768 628768 628768 628768 628768 628768 628768 628768 628768 628768 1.00000 0 0 10017 9653 364 4964 3660 1304 1668 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 863352 F 863352 X 688376 363264 24445 387709 300667 0 300667 511400 0 511400 0 511400 PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE INTENDED TO GENERATE INCOME IN PERPETUITY. 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 2011 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 24,445. 1 FINANCIAL ASSISTANCE 35 268670 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 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 CONTRIBUTORY 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 ADMINISTRATIVER 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 ONE OFFICER RECEIVES COMPENSATION FOR ACTING AS MANAGER/COO, THE PRESIDENT. THIS COMPENSATION WAS APPROVED BY THE BOARD OF DIRECTORS. NO REVIEW OF COMPARABLE DATA WAS CONSIDERED NECESSARY SINCE THE LEVEL OF COMPENSATION WAS DEEMED NOMINAL. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY STATEMENT, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC, UPON REQUEST. FORM 990, PART VII, 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-ONE DIRECTORS AND TRUSTEES THERE WERE THREE WHO WERE UNABLE TO PARTICIPATE TO ANY EXTENT DURING THE YEAR. IN ONE CASE, HER TERM WAS COMPLETED IN NOVEMBER 2013. ANOTHER ONE OF THE THREE IS OLDER IN AGE AND HAS SERVED THE ORGANIZATION WELL OVER THE YEARS; HE REMAINS AS A TRUSTEE IN PART AS A COURTESY TOWARD HIS PREVIOUS SERVICE. THE THIRD INDIVIDUAL WAS UNABLE TO PARTICIPATE DUE TO OTHER COMMITMENTS, HOWEVER, IN PRIOR YEARS HE WAS AN ACTIVE PARTICIPANT. DIRECTORS WILL BE PERIODICALLY INFORMED THAT PARTICIPATION BY ALL TO SOME EXTENT IS NECESSARY. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 24,445. FORM 990, PART VII-A: EXPLANATION OF PAYMENT TO MARY DODD: BOARD MEMBER MARY DODD RECEIVES NO COMPENSATION IN HER CAPACITY AS BOARD MEMBER AND OFFICER. SHE DOES RECEIVE COMPENSATION AS AN INDEPENDENT CONTRACTOR IN HER CAPACITY AS A SOCIAL SERVICE CONSULTANT TO PHYSICIANS' HOME, INC.