2014-02-14T13:05:12-06:00 2013-09-30 271728945 O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2012-10-01 131782482 PHYSICIANS HOME INC PHYS 2128364318 445 PARK AVENUE 9TH FLOOR NEW YORK NY 100228632 JOSEPH B CLEARY MD 2128364318 2014-02-14 1 GARRETT M HIGGINS CPA P00543209 2122862600 2012 2015-11-30 17:44:51Z JOSEPH B CLEARY MD 445 PARK AVENUE 9TH FLOOR NEW YORK NY 100228632 1294759 0 X WWW.PHYSICIANSHOME.ORG X 1919 NY PHYSICIANS' HOME PROVIDES FINANCIAL AID TO NEEDY PHYSICIANS OR THEIR DEPENDENTS. 20 19 3 19 0 0 66296 50578 0 0 180972 216707 0 0 247268 267285 290330 311980 0 0 64443 71933 0 0 28566 133582 153286 488355 537199 -241087 -269914 6913845 7042368 24483 130431 6889362 6911937 X SEE SCHEDULE O 0 0 348745 311980 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 $311,980 IN DIRECT ASSISTANCE TO THIRTY PHYSICIANS AND NINE FAMILY MEMBERS DURING THE YEAR. 348745 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 2 0 3 1 0 0 0 0 0 0 0 0 0 0 X 20 19 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 8.00 X X 30000 0 0 MARTHA REDO EEQ 1.00 X X 0 0 0 DONALD D FAGER ESQ 1.00 X X 0 0 0 ALLEN MEAD MD 0.00 X 0 0 0 ANDREW E SAMA MD 1.00 X X 0 0 0 BRUCE C HORTEN MD 0.20 X 0 0 0 DAVID S KARAN MD 1.00 X 0 0 0 EDRIS BLOOMFIELD 0.00 X 0 0 0 EDWARD J AMSLER ESQ 0.20 X 0 0 0 EMILY SONNENBLICK MD 0.00 X 0 0 0 FAZLULLAH MOQTADERI MD 1.00 X 0 0 0 FRANCIS IACOBELLIS MD 0.20 X 0 0 0 FRANK IAQUINTA MD 0.00 X 0 0 0 GEORGE DERMKSIAN MD 0.50 X 0 0 0 JANET POPE-SULLIVAN 0.50 X 0 0 0 JOEL ARCHER MD 1.00 X X 0 0 0 JOHN A MCCLUNG MD 0.20 X 0 0 0 MARY DODD LMSW 1.00 X 400 0 0 STEPHEN CONNOLLY MD 0.10 X 0 0 0 WILLIAM HEALY MD 0.10 X 0 0 0 MARY O'DOWD 0.20 X 0 0 0 30400 0 0 0 0 0 0 0 2098 48480 50578 179014 179014 1065167 1027474 37693 37693 37693 267285 0 0 216707 200 200 311780 311780 30647 15523 7562 7562 36427 18013 9207 9207 4859 2429 1215 1215 38028 38028 29736 29736 800 800 20830 10248 10582 55241 55241 995 995 3686 3686 645 645 3325 3325 537199 348745 159888 28566 72477 31795 543281 458286 14227 16975 898 897 14486 12758 2373 1728 5486304 5685380 785885 838907 8400 8400 6913845 7042368 24483 130431 24483 130431 X 5474709 5444262 785885 838907 628768 628768 6889362 6911937 6913845 7042368 X -269914 239467 53022 X X 0 1 X 1 0 X 66059 54922 68218 66296 50578 306073 66059 54922 68218 66296 50578 306073 4716 301357 131067 158831 173744 185453 179014 828109 1134182 0.26570 0.28230 X PHYSICIANS' HOME MAINTAINS AN ON-GOING PROGRAM OF SOLICITATION OF FUNDS FROM THE GENERAL PUBLIC. ANNUALLY IN NOVEMBER/DECEMBER, THE ORGANIZATION SENDS AN APPEAL LETTER TO INDIVIDUALS WHO HAVE CONTRIBUTED IN THE PAST; AT REGULAR INTERVALS, USUALLY EVERY THIRD YEAR, THIS APPEAL IS SENT TO ALL PHYSICIANS PRACTICING IN NEW YORK STATE, REACHING APPROXIMATELY 55,000 INDIVIDUALS. IN 2013, PHYSICIANS' HOME PRODUCED ITS SECOND ANNUAL DONORS' JOURNAL. THIS PUBLICATION INCLUDED MESSAGES OF SUPPORT AND GRATITUDE FROM CONTRIBUTORS AND LISTED THE NAMES OF ALL CONTRIBUTORS. THE SECOND ANNUAL DONORS' JOURNAL INCLUDED 114 PAGES, AN INCREASE OF 46 PAGES FROM THE FIRST DONORS' JOURNAL. THE ORGANIZATION PLANS TO CONTINUE THE DONORS' JOURNAL AS PART OF ITS FUNDRAISING EFFORT. DURING 2013, PHYSICIANS' HOME CONTINUED DEVELOPMENT OF AN EXPANDED WEBSITE, WHICH THE ORGANIZATION EXPECTS TO LAUNCH IN FISCAL 2014, TO PROVIDE AN INFORMATIVE PICTURE OF ITS HISTORY, MISSION, AND ORGANIZATION. THE ORGANIZATION'S INVESTMENT PORTFOLIO, AND RELATED INVESTMENT INCOME, IS THE RESULT OF SUBSTANTIAL CONTRIBUTIONS BY NUMEROUS MEMBERS OF THE PHYSICIAN AND NON-PHYSICIAN COMMUNITIES OVER MANY YEARS. THE PORTFOLIO HAS BEEN AUGMENTED BY NUMEROUS ESTATE LEGACIES OVER THE YEARS. DURING THE YEAR ENDED SEPTEMBER 30, 2013, PHYSICIANS' HOME RECEIVED ABOUT 600 CONTRIBUTIONS, MOST FROM INDIVIDUALS. THE NEW YORK STATE MEDICAL SOCIETY DUES NOTICE INCLUDES AN OPPORTUNITY FOR SOCIETY MEMBERS TO ADD A CONTRIBUTION TO PHYSICIANS' HOME TO THEIR ANNUAL DUES PAYMENT. MEDICAL ORGANIZATIONS, SUCH AS COUNTY MEDICAL SOCIETIES, ALSO CONTRIBUTED.THE ORGANIZATION'S OFFICE IS STAFFED DAILY. THE EXECUTIVE COMMITTEE HOLDS REGULARLY SCHEDULED MEETINGS TO REVIEW BENEFICIARY CIRCUMSTANCES. CHECKS ARE DISBURSED TO BENEFICIARIES FROM THE ORGANIZATION'S OFFICE ON THE FIRST OF EACH MONTH. IN ADDITION TO REGULAR MONTHLY CHECKS, PHYSICIANS' HOME OFTEN MAKES DISBURSEMENTS TO MEET EMERGENCIES SHOULD A BENEFICIARY'S SITUATION WARRANT SUCH A PAYMENT.PHYSICIANS' HOME HAS A REPRESENTATIVE GOVERNING BODY. THE 21 MEMBER BOARD OF DIRECTORS AND TRUSTEES INCLUDES PRACTICING AND RETIRED PHYSICIANS WHO PARTICIPATE BECAUSE OF THEIR DEDICATION TO THE ORGANIZATION'S MISSION. THE BOARD ALSO INCLUDES A LICENSED SOCIAL WORKER, TWO ATTORNEYS, AND THE LEADER OF A CHARITABLE ORGANIZATION DEDICATED TO CHILDREN WITH CANCER. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 628768 628768 628768 628768 628768 628768 628768 628768 628768 628768 1.00000 0 0 10016 9445 571 4470 3313 1157 1728 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 838907 F 838907 X 559774 239467 53022 292489 267285 0 267285 537199 0 537199 0 537199 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE INTENDED TO GENERATE INCOME IN PERPETUITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ORGANIZATION'S TAX RETURNS FOR ALL YEARS SINCE FISCAL 2010 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 53,022. 1 FINANCIAL ASSISTANCE 39 311780 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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. ORGANIZATION MISSION STATEMENT FORM 990, PART III, LINE 1: PHYSICIANS' HOME WAS FOUNDED IN NEW YORK CITY IN 1919, BY SEVERAL PHYSICIANS WHO SAW A NEED TO HELP OTHER DOCTORS WHO WERE STRUGGLING FINANCIALLY. DURING THE EARLIEST YEARS PHYSICIANS' HOME WAS ACTUALLY A PHYSICAL STRUCTURE, LOCATED IN UPSTATE ALLEGANY COUNTY. IN TIME, IT WAS DECIDED THAT PHYSICIANS IN NEED COULD BE SERVED BEST BY PROVIDING MONTHLY FINANCIAL ASSISTANCE, HELPING THEM TO REMAIN IN THEIR OWN HOMES. THE MISSION OF THE ORGANIZATION HAS BEEN CARRIED OUT IN THIS WAY FOR THE PAST HALF-CENTURY. THERE IS NO LONGER A PHYSICAL STRUCTURE SERVING AS A "HOME". THE BASIC ELIGIBILITY REQUIREMENTS ARE THAT A DOCTOR HAS OBTAINED A NEW YORK STATE MEDICAL LICENSE, AND HAS PRACTICED IN THE STATE. IMMEDIATE FAMILY MEMBERS OF A DECEASED PHYSICIAN MAY ALSO BE ELIGIBLE. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS APPLICATIONS, AND ASSISTANCE IS GIVEN WITH THE GOAL BEING TO HELP PROVIDE FOR BASIC LIVING REQUIREMENTS. NO RE-PAYMENT IS EXPECTED. CIRCUMSTANCES OF BENEFICIARIES ARE REVIEWED AT INTERVALS, TO DETERMINE THE NEED FOR CONTINUED ASSISTANCE. SOCIAL SERVICE INTERVIEWS AND EVALUATIONS ARE CARRIED OUT AS CALLED FOR IN INDIVIDUAL CASES. DURING THE FISCAL YEAR ENDING SEPTEMBER 30, 2013, HELP WAS PROVIDED TO THIRTY-NINE BENEFICIARIES WHO RECEIVED A TOTAL OF $311,980 IN AID. A DONORS' JOURNAL WAS COMPILED AND PUBLISHED AGAIN THIS YEAR. IN COMPARISON TO THE PREVIOUS YEAR TWICE AS MANY CONTRIBUTORS REQUESTED MESSAGES IN THE JOURNAL. THIS FUND-RAISING EFFORT PROVIDED $51,000. WE LOOK FORWARD TO CONTINUING OUR 90+ YEAR MISSION ASSISTING NEW YORK STATE PHYSICIANS IN NEED. 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. 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 MEETING MINUTES. GOOD REPRESENTATION IS PRESENT TO PROVIDE DISCUSSION AND ADVICE IN REGARD TO THE ACTIVITIES OF THE ORGANIZATION, PARTICULARLY IN REGARD TO THE DISTRIBUTION OF FUNDS TO BENEFICIARIES. OF THE TWENTY-ONE DIRECTORS AND TRUSTEES THERE WERE FOUR WHO WERE UNABLE TO PARTICIPATE TO ANY EXTENT DURING THE YEAR. ONE WAS DECEASED EARLY IN THE FISCAL YEAR. TWO OF THE OTHER THREE INDIVIDUALS RESIGNED SUBSEQUENT TO SEPTEMBER 30, 2013. ONE REMAINS ON THE BOARD IN PART AS A COURTESY TOWARD HIS PREVIOUS SERVICE. DIRECTORS WILL BE REMINDED THAT PARTICIPATION BY ALL TO SOME DEGREE IS NECESSARY. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 53,022. FORM 990, PART XII, LINE 2C: THE PRESIDENT, IN CONSULTATION WITH TRUSTEES AND OFFICERS, IS RESPONSIBLE FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THERE HAS BEEN NO CHANGE IN THE PROCESS FROM THE PRIOR YEAR. FORM 990, PART VII: 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.