2014-05-15T08:13:51-05:00 2013-06-30 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2012-07-01 043289381 Faculty Practice Foundation Inc % KATHRYN BEACH FACU 6176388000 660 Harrison Avenue 3rd Floor Suite Boston MA 02118 WILLIAM R CREEVY MD 6176388000 2014-05-12 true 6175305000 2012 2015-11-30 17:44:51Z WILLIAM R CREEVY MD 660 HARRISON AVENUE Boston MA 02118 30983066 false 8094 X WWW.BMC.ORG X 1994 MA SEE SCHEDULE O. 15 0 0 15 0 0 0 30304415 30978080 4725 4986 0 0 30309140 30983066 0 0 0 0 3179346 2660258 0 0 0 14532290 11100680 17711636 13760938 12597504 17222128 121365324 134234204 76238431 71885183 45126893 62349021 X SEE SCHEDULE O. false false 11896565 30978080 See Schedule O. 11896565 true false false false false false false false false false true false false true true true false true false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true X 350 0 true 0 false true CJ false false false false false false false false X 15 0 true false false false true true true true true false true true true true true true true true false MA X KATHRYN BEACH 6176383565 660 HARRISON AVENUE GAMBRO 3 RM 3 Boston MA 02118 X RHODA M ALANI MD 4.0 50.0 X 0 423682 33875 Karen H Antman MD 2.0 56.0 X 0 698175 34263 STEPHEN CHRISTIANSEN MD 4.0 50.0 X 0 479261 60461 DOMENIC CIRAULO MD 4.0 50.0 X 0 475561 51517 DAVID L COLEMAN MD 4.0 51.0 X X 0 642386 35703 WILLIAM R CREEVY MD 32.0 22.0 X X 0 938381 58252 GERARD DOHERTY MD 4.0 51.0 X X 0 910821 35828 KENNETH GRUNDFAST MD 4.0 50.0 X 0 507172 51764 BRIAN JACK MD 4.0 50.0 X 0 269782 51007 ALEXANDER NORBASH MD 4.0 50.0 X 0 638386 53545 DANIEL REMICK MD 4.0 50.0 X X 0 566881 55098 KATHLEEN WALSH 4.0 56.5 X 0 1151272 110583 CHARLES WILLIAMS MD 4.0 50.0 X 0 268564 34186 CARLOS S KASE MD 4.0 50.0 X 0 376503 51206 PAUL HENDESSI MD 4.0 50.0 X 0 272670 45758 THOMAS A EINHORN MD 4.0 50.0 X 0 722252 51472 DAVID BECK ESQ 4.0 56.5 X 0 333801 48133 STEPHANIE LOVELL ESQ X 0 342267 0 0 10017817 862651 0 true true false LOUIS RUSSO 939 ARBOR LANE JACKSONVILLE FL 32207 CONSULTING SVCS 362248 CROES OLIVA 394 LOWELL STREET LEXINGTON MA 02420 MGMT CONSULTING 559725 PRICEWATERHOUSECOOPERS LLP 125 HIGH STREET BOSTON MA 02110 ACCOUNTING 242160 3 0 INSTITUTIONAL SUPPORT & OTHER REVENUE 900099 30978080 30978080 30978080 4986 4986 0 0 0 0 0 0 0 0 0 0 30983066 30978080 4986 0 0 0 0 0 0 0 2026965 1803999 222966 0 633293 563631 69662 0 543052 543052 0 525092 525092 0 0 131810 131810 370191 370191 0 14549 12949 1600 27878 27878 0 180 180 0 0 1867 1867 0 9420080 9420080 5250 5250 187 187 INSTITUTIONAL SUPPORT EXPENSE 18085 18085 MISCELLANEOUS FEES 2950 2950 MEDICAL STAFF DEVELOPMENT 2034 2034 TAXES, FEES, & PENALTIES 1000 1000 36475 36475 13760938 11896565 1864373 0 32203523 59782624 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -29126 -36994 226451 218576 13129 7875 0 0 0 0 0 0 0 0 89177798 74480699 121365324 134234204 5643823 4742276 0 0 0 0 0 0 0 0 0 0 0 0 0 0 70594608 67142907 76238431 71885183 X 45126893 62349021 0 0 0 0 45126893 62349021 121365324 134234204 17222128 X false true X true false X X X false false false TRUSTEES OF BOSTON UNIVERSITY 042103547 02 true 0 BOSTON MEDICAL CENTER 043314093 03 true 0 2 0 226451 218576 7875 7875 DUE FROM AFFILIATES 34638465 OTHER ASSETS 36001 INSURANCE RECOVERIES RECEIV. 39806233 74480699 0 DUE TO AFFILIATES 27356543 PROFESSIONAL LIABILITY CLAIMS 39786364 67142907 X SCHEDULE D, PART X, LINE 2 FIN 48 THE FOUNDATION HAS BEEN DETERMINED TO BE A TAX-EXEMPT ORGANIZATION UNDER 501(C)(3) AND 170(C)(2) OF THE INTERNAL REVENUE CODE AS EVIDENCED BY A DETERMINATION LETTER DATED MAY 29, 1997 AS PART OF A GROUP FILING WITH THE PLANS AND FACULTY. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. true true false false false false false false false RHODA M ALANI MD 0 423000 0 0 0 682 0 28240 0 5635 0 457557 0 0 Karen H Antman MD 0 641000 57175 0 33240 0 1023 0 732438 0 0 STEPHEN CHRISTIANSEN MD 0 439597 0 0 0 39664 0 33240 0 27221 0 539722 0 0 DOMENIC CIRAULO MD 0 413201 0 0 0 62360 0 33240 0 18277 0 527078 0 0 DAVID L COLEMAN MD 0 449279 193107 0 33240 0 2463 0 678089 0 0 WILLIAM R CREEVY MD 0 241513 0 0 0 696868 0 33240 0 25012 0 996633 0 0 GERARD DOHERTY MD 0 472217 0 0 0 438604 0 0 0 35828 0 946649 0 0 KENNETH GRUNDFAST MD 0 440721 0 0 0 66451 0 33240 0 18524 0 558936 0 0 BRIAN JACK MD 0 264943 0 0 0 4839 0 33240 0 17767 0 320789 0 0 ALEXANDER NORBASH MD 0 438478 199908 0 28240 0 25305 0 691931 0 0 DANIEL REMICK MD 0 440107 126774 0 33240 0 21858 0 621979 0 0 DAVID BECK ESQ 0 270690 0 55000 0 8111 0 29166 0 18967 0 381934 0 0 KATHLEEN WALSH 0 895640 0 225000 0 30632 0 75375 0 35208 0 1261855 0 0 STEPHANIE LOVELL ESQ 0 0 0 0 0 342267 0 0 0 0 0 342267 0 0 CHARLES WILLIAMS MD 0 268308 0 0 0 256 0 23240 0 10946 0 302750 0 0 CARLOS S KASE MD 0 358920 0 0 0 17583 0 33240 0 17966 0 427709 0 0 PAUL HENDESSI MD 0 264552 0 0 0 8118 0 23240 0 22518 0 318428 0 0 THOMAS A EINHORN MD 0 444000 0 0 0 278252 0 33240 0 18232 0 773724 0 0 Schedule J, Part I, Line 3 THE FACULTY PRACTICE FOUNDATION USED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION COMMITTEE - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE SCHEDULE J, PART I, LINE 4A AS OF DECEMBER 12, 2011, UNDER THE TERMS OF STEPHANIE LOVELL'S EMPLOYMENT CONTRACT, SHE WAS ENTITLED TO TWELVE MONTHS OF SALARY CONTINUATION WITH PARTIAL PAY OFFSET FOR MONTH SEVEN TO MONTH TWELVE. THE AMOUNT PAID IN 2012 WAS $260,481. SCHEDULE J, PART I, LINE 4B BOSTON MEDICAL CENTER PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN TO CERTAIN EXECUTIVES. AMOUNTS ARE CREDITED TO PARTICIPANTS' ACCOUNTS EACH YEAR. PLAN AMOUNTS ARE SUBJECT TO FORFEITURE AND PAYMENT ONLY IF CERTAIN CONDITIONS ARE MET, AS OUTLINED IN THE PLAN AGREEMENT. BOSTON MEDICAL CENTER MAINTAINS AN EXECUTIVE BENEFIT PLAN WHICH OFFERS PARTICIPATING EXECUTIVES THE OPTION OF ANNUALLY ALLOCATING BENEFIT DOLLARS TO A SUPPLEMENTAL RETIRMENT/PRE-TAX SAVINGS ACCOUNT. AMOUNTS VEST ON SPECIFIED DATES BASED ON CONTINUES EMPLOYMENT BUT NO LATER THAN THE EXECUTIVE'S 68TH BIRTHDAY BOSTON MEDICAL CENTER PROVIDED A SEPARATE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN TO KATHLEEN E. WALSH, PRESIDENT AND CEO AS OF MARCH 1, 2010. PURSUANT TO THE TERMS OF THE AGREEMENT, CERTAIN AMOUNTS WERE CREDITED TO THE PRESIDENT AND CEO'S ACCOUNT IN PRIOR YEARS. THESE AMOUNTS ARE SUBJECT TO FORFEITURE AND PAYMENT WILL BE MADE ONLY IF CERTAIN CONDITIONS ARE MET, AS OUTLINED IN THE AGREEMENT. No amounts were accrued or vested under the plan in 2012. BMC PROVIDED A NON-QUALIFIED DEFINED BENEFIT PLAN TO CERTAIN EXECUTIVES. IN 2012, THIS PLAN WAS TERMINATED BY THE ORGANIZATION AND AMOUNTS DUE UNDER THE PLAN WERE FULLY PAID TO PARTICIPANTS. THE AMOUNTS PAID TO THE FOLLOWING EXECUTIVES ARE REFLECTED IN SCHEDULE J, PART II, COLUMN B(III). Lovell - $81,786 ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 AND PART III, LINE 1 The FACULTY PRACTICE FOUNDATION, INC's ("the foundation") primary mission is to coordinate and facilitate the delivery of managed care services and promote the development of an integrated system of delivery to more efficiently and more effectively meet the health care needs of the community served. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4 The Faculty Practice Foundation, Inc. is affiliated with the following faculty practice plans ("the plans"): Boston University Medical Center Anesthesiologists, Inc. Boston Emergency Physician Foundation, Inc. Boston University Cardiac & Thoracic Surgical Foundation, Inc. Boston University Dermatology, Inc. Boston University Dermatology Support Services I, Inc. Boston University Dermatology Support Services II, Inc. Boston University Surgical Associates, Inc. Evans Medical Foundation, Inc. Boston University Eye Associates, Inc. Boston University Family Medicine, Inc. Boston University Mallory Pathology Associates, 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 Medical Center Otolaryngologic Foundation, Inc. Child Health Foundation of Boston, Inc. Boston University Plastic Surgery Associates, Inc. Boston University Psychiatry Associates, Inc. Boston University Medical Center Radiologists, Inc. Boston Rehabilitation Medicine Associates, Inc. Boston University General Surgical Associates, Inc. Boston University Medical Center Urologists, Inc. The Faculty Practice Foundation was incorporated on October 18, 1994 under the provisions of General Laws, Chapter 180, of the Commonwealth of Massachusetts as a nonprofit organization operated exclusively for clinical, charitable, scientific and educational purposes. The Faculty Practice Plans were established as non-profit faculty practice plan corporations operated exclusively for the benefit of Boston Medical Center Hospital ("BMC"), and Boston University School of Medicine ("BUSM") (collectively, the "Institutions"). the foundation is granted the power to approve the Plans' annual operating budgetS and APPROVE managed care AGREEMENTS ENTERED INTO by the Plans and to promote the development of an integrated system of delivery to more efficiently and effectively meet health care needs of the communities served by the Institutions. STATEMENTS REGARDING OTHER IRS FILINGS AND TAX COMPLIANCE FORM 990, PART V, LINE 2 AND PART IX, LINES 7 AND 9 The Faculty Practice Foundation HAS NO EMPLOYEES. HOWEVER, IT REIMBURSES THE TRUSTEES OF BOSTON UNIVERSITY AND BOSTON MEDICAL CENTER FOR USE OF ITS EMPLOYEES. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI, SECTION A, LINEs 1a and 2 ALL OFFICERS AND DIRECTORS ARE EMPLOYEES OF EITHER BOSTON UNIVERSITY, BOSTON MEDICAL CENTER, OR THE FACULTY PRACTICE PLAN CORPORATIONS, related organizations. CERTAIN OFFICERS AND DIRECTORS OF THE FOUNDATION'S BOARD ALSO SERVE AS OFFICERS AND DIRECTORS OF BOSTON MEDICAL CENTER. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE ORGANIZATION ARE BOSTON UNIVERSITY AND BOSTON MEDICAL CENTER. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI, SECTION A, LINE 7A THE INITIAL BOARD OF DIRECTORS OF FACULTY PRACTICE FOUNDATION INCLUDES: - TWO DIRECTORS WHO SHALL BE INITIALLY ELECTED BY A MAJORITY VOTE OF THE PRESIDENTS OF ALL OF THE PRACTICE PLANS AND WHO SHALL BE SELECTED FROM AMONG THE PRESIDENTS OF THE FOLLOWING PRACTICE PLANS: FAMILY MEDICINE, PEDIATRICS, OBSTETRICS, AND GYNECOLOGY; - TWO DIRECTORS WHO SHALL BE INITIALLY ELECTED BY A MAJORITY VOTE OF THE PRESIDENTS OF ALL OF THE PRACTICE PLANS AND WHO SHALL BE SELECTED FROM AMONG THE PRESIDENTS OF THE FOLLOWING PRACTICE PLANS: RADIOLOGY, PATHOLOGY, AND EMERGENCY MEDICINE; - THREE DIRECTORS WHO SHALL BE INITIALLY ELECTED BY A MAJORITY VOTE OF THE PRESIDENTS OF ALL OF THE PRACTICE PLANS AND WHO SHALL BE SELECTED FROM AMONG THE PRESIDENTS OF THE FOLLOWING PRACTICE PLANS: OPHTHALMOLOGY, UROLOGY, OTOLARYNGOLOGY, ORTHOPAEDIC SURGERY, PLASTICE SURGERY, AND CARDIOTHORACIC SURGERY; - THREE DIRECTORS WHO SHALL BE INITIALLY ELECTED BY A MAJORITY VOTE OF THE PRESIDENTS OF ALL OF THE PRACTICE PLANS AND WHO SHALL BE SELECTED FROM AMONG THE PRESIDENTS OF THE FOLLOWING PRACTICE PLANS: DERMATOLOGY, REHABILITATION MEDICINE, NEUROSURGERY, NEUROLOGY, AND PSYCHIATRY. FOLLOWING THE ELECTION OF THE INITIAL ROTATING DIRECTORS, THE BOARD OF DIRECTORS SHALL SELECT AT RANDOM FROM THE REMAINING PRACTICE PLAN PRESIDENTS TO SERVE AS THE ROTATING DIRECTORS AT THE END OF THE INITIAL ROTATING DIRECTORS TERM. GOVERNANCE, MANAGEMENT, AND DISCLOSURE 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 DIRECTORS OR OFFICERS, THE ADDITION OF NEW MEMBERS, AND THE ANNUAL OPERATING BUDGET. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO THE FILING OF the FORM 990 WITH THE IRS, THE FORM 990 PREPARED BY OUR OUTSIDE TAX CONSULTANTS WAS 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. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI, SECTION B, LINE 12 CONFLICT OF INTEREST QUESTIONNAIRES FOR THE FISCAL YEAR ENDING JUNE 30, 2013 WERE DISTRIBUTED ON MARCH 17, 2014 BY THE COMPLIANCE AND LEGAL DEPARTMENT. THE OFFICE OF GENERAL COUNSEL QUERies TRUSTEES, officers and directors on at least an annual basis regarding relationships that may create potential conflicts of interest. The OFFICE OF GENERAL COUNSEL reviews all disclosures and determines whether there are actual or potential conflicts of interest. The General Counsel advises the board of trustees and officers of the corporation accordingly. GOVERNANCE, MANAGEMENT, AND DISCLOSURE FORM 990, PART VI, SECTION B, LINES 15A & B no officers or key employees (there are no key employees) are compensated by the foundation. however, the foundation does have a compensation committee for purposes of reviewing the practice plans' officers' compensation. GOVERNANCE, MANAGEMENT, AND DISCLOSURE 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. 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