2021-05-13T11:04:49-05:00 2020-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2019-07-01 043289381 Faculty Practice Foundation Inc % MARY BETH MOLLOY FACU 6176388000 One Boston Medical Center Place Boston MA 02118 WILLIAM R CREEVY MD President/Trustee 6176388000 2021-05-03 true Smita Baliga P01643271 6179881000 2021-05-11 2019 2022-09-23 18:48:47Z WILLIAM R CREEVY MD One Boston Medical Center PL Boston MA 02118 22594902 false 8094 X WWW.BMC.ORG X 1994 MA SEE SCHEDULE O 14 2 0 14 0 0 0 7760903 10324498 14678927 147658 155072 0 0 10472156 22594902 0 0 0 0 13243701 12086790 0 0 0 4284646 21278851 17528347 33365641 -7056191 -10770739 85395354 119535340 79717806 113756348 5677548 5778992 X SEE SCHEDULE O false false 31027528 14678927 SEE SCHEDULE O 31027528 true true 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 true 196 0 true 0 false true CJ false false false false false false false false false false X 14 2 true false false false true true true true true false true true true true true true true true false false false MA X MARY BETH MOLLOY 6174144030 660 HARRISON AVENUE GAMBRO 3 ROOM BOSTON MA 02118 Kathleen Walsh Trustee 4.0 50.0 X 0 1958752 19187 William Creevy MD Trustee/President 32.0 22.0 X X 0 1062807 58310 Jennifer Tseng MD Trustee 4.0 55.0 X 0 1012451 38793 Karen Antman MD Trustee 2.0 56.0 X 0 937573 32915 David Coleman MD Trustee/Clerk 4.0 51.0 X X 0 782366 34370 David Beck Assistant Clerk (Until 9/9/19) 4.0 55.0 X 0 700866 44102 Stephen Christiansen MD Trustee/Treasurer 4.0 50.0 X X 0 662450 58488 Robert Vinci MD Former Trustee/Treasurer 0.0 50.0 X 0 541287 53671 Aviva Lee-Parritz MD Trustee 4.0 50.0 X 0 469303 50679 Daniel Remick MD Former Trustee/Treasurer 0.0 50.0 X 0 450372 50375 Anita Tucker Trustee 4.0 50.0 X 0 303093 107390 Claudio Morera MD Trustee 4.0 50.0 X 0 211205 97035 Sheila Chapman MD Trustee 4.0 50.0 X 0 204762 99975 Susannah Rowe Trustee 4.0 50.0 X 0 220390 50572 Marilyn Augustyn MD Trustee 4.0 50.0 X 0 200046 54480 Richard Sugarman MD Assistant Clerk (as of 9/9/19) 4.0 55.0 X 0 223140 18092 Gene Lindsey MD Trustee 4.0 0.0 X 0 0 0 Monica Noether PhD Trustee/Chair 4.0 0.0 X X 0 0 0 0 9940863 868434 0 true true false VIZIENT INC 290 E John Carpenter Freeway IRVING TX 75602 CONSULTING SERVICES 107415 1 7760903 0 7760903 INSTITUTIONAL SUPPORT & OTHER REVENUE 900099 11480452 11480452 EMPLOYEE RETENTION CREDIT 900099 3198475 3198475 14678927 155072 0 155072 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 22594902 14678927 0 155072 0 0 0 0 0 0 0 0 9323966 8298330 1025636 0 0 0 2762824 2458913 303911 0 0 0 763850 763850 0 0 0 136297 136297 0 0 0 0 0 11986 11986 0 95524 95524 0 0 8263 7354 909 0 0 0 0 0 0 0 893 893 0 0 0 69872 69872 0 0 0 15222475 15222475 0 0 0 0 0 RECRUITMENT NON-MEDICAL STAFF 25195 25195 TAXES/FEES/PENALTIES 1000 1000 OTHER 4943496 4943496 33365641 31027528 2338113 0 0 0 27660763 59679766 0 0 0 0 0 0 0 0 0 0 0 0 0 0 168647 168647 5583128 5857917 0 0 0 0 0 0 52151463 53997657 85395354 119535340 808275 1193198 0 0 0 0 0 0 0 0 0 0 0 0 0 0 78909531 112563150 79717806 113756348 X 5677548 5778992 0 0 5677548 5778992 85395354 119535340 -10770739 132113 10740070 X false true X true false X X 2 TRUSTEES OF BOSTON UNIVERSITY 042103547 2 true 0 0 BOSTON MEDICAL CENTER 043314093 3 true 0 0 2 true false false false false false false false false false false false false false false false SCHEDULE A, PART IV, SECTION C, LINE 1 THE ORGANIZATION'S CORPORATE MEMBERS (WHICH ARE ALSO THE SUPPORTED ORGANIZATIONS) MUST APPROVE CERTAIN ACTIONS OF THE ORGANIZATION. THOSE APPROVALS BY THE CORPORATE MEMBERS, AS SET FORTH IN THE BYLAWS, INCLUDE 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 TRUSTEES OR OFFICERS, THE ADDITION OF NEW MEMBERS, AND THE ANNUAL OPERATING BUDGET. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 168647 168647 DUE FROM AFFILIATES 1333609 INSURANCE RECOVERIES RECEIV. 52023379 OTHER ASSETS 84915 OTHER RECEIVABLES 555754 53997657 0 DUE TO AFFILIATES 54623327 PROFESSIONAL LIABILITY CLAIMS 52023379 LONG TERM PROF. LIAB. RESERVE 5916444 112563150 X PART X, LINE 2 FACULTY PRACTICE FOUNDATION, INC. ("FACULTY") AND ITS AFFILIATED FACULTY PRACTICE PLANS ("PLANS") ARE INCLUDED IN COMBINED FINANCIAL STATEMENTS. THE TEXT OF THE UNCERTAIN TAX POSITIONS FOOTNOTE INCLUDED IN THESE FINANCIAL STATEMENTS IS AS FOLLOWS: THE HEALTH SYSTEM CORPORATION, THE MEDICAL CENTER, BMCHP, UDF, ECMF, BUAP, FACULTY AND THE PLANS, BACO, BMCICS, AND BMCIC OF VERMONT ARE ALL NONPROFIT CORPORATIONS THAT HAVE BEEN RECOGNIZED AS TAX EXEMPT PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SHAREHOLDERS OF NAB, BEFORE IT WAS TERMINATED WERE NONPROFIT, TAX EXEMPT CORPORATIONS. THE HEALTH SYSTEM RECOGNIZED INCOME TAX POSITIONS WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINABLE BASED ON THE MERITS OF THE POSITION. MANAGEMENT HAS CONCLUDED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT NEED TO BE RECORDED AS OF SEPTEMBER 30, 2020 AND 2019. THE HEALTH SYSTEM ANNUALLY ASSESSES WHETHER IT MUST RECOGNIZE AN UNRELATED BUSINESS INCOME TAX EXPENSE (UBIT). THE AMOUNTS RECOGNIZED AS UBIT EXPENSE WERE NOT MATERIAL TO THE HEALTH SYSTEM'S CONSOLIDATED OPERATIONS OR CHANGES IN NET ASSETS FOR THE YEARS ENDED SEPTEMBER 30, 2020 AND 2019. false true false false false false false false false Kathleen Walsh Trustee 1316552 447200 195000 14000 5187 1977939 William Creevy MD Trustee/President 920803 135100 6904 32388 25922 1121117 Jennifer Tseng MD Trustee 948638 63813 32388 6405 1051244 Karen Antman MD Trustee 928475 9098 32388 527 970488 David Coleman MD Trustee/Clerk 775431 6935 32388 1982 816736 David Beck Assistant Clerk (Until 9/9/19) 433758 92400 174708 19600 24502 744968 67100 Stephen Christiansen MD Trustee/Treasurer 657563 4887 32388 26100 720938 Robert Vinci MD Former Trustee/Treasurer 534546 6741 32388 21283 594958 Aviva Lee-Parritz MD Trustee 465969 3334 32388 18291 519982 Daniel Remick MD Former Trustee/Treasurer 447344 3028 32388 17987 500747 Anita Tucker Trustee 302577 516 32388 75002 410483 Claudio Morera MD Trustee 210770 435 23645 73390 308240 Sheila Chapman MD Trustee 203151 375 1236 23652 76323 304737 Susannah Rowe MD Trustee 208686 10672 1032 25428 25144 270962 Marilyn Augustyn MD Trustee 199212 834 24103 30377 254526 Richard Sugarman Assistant Clerk (as of 9/9/19) 208440 14700 10768 7324 241232 Schedule J, Part I, Line 3 Faculty Practice Foundation's related organizations used the following methods to establish compensation: - Compensation committee - Independent compensation consultant - Compensation survey or study - Approval by the board or compensation committee. 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 retirement/pre-tax savings account. Amounts vest on specified dates based on continued employment but no later than the executive's 62nd birthday. Amounts accrued in the plan are reported in Schedule J, Part II, Column C. Boston Medical Center provided a 457(f) nonqualified deferred compensation plan to David Beck, Senior Vice President, Chief Legal Counsel, and Clerk of Boston Medical Center. David Beck reached the plan retirement age in 2019 and vested 100% in the plan. The balance of $124,608 in the plan was paid out in 2019. In addition, pursuant to the terms of the plan, once the plan participant reaches the plan retirement age, all future contributions are made in cash. Accordingly, the remaining $50,100 was paid to David Beck in cash in 2019 as well. 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. For calendar year 2019 $195,000 was vested and is reflected in Schedule J, Part II, Column B(III). ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 & PART III, LINE 1 FACULTY PRACTICE FOUNDATION, INC.'S ("THE FOUNDATION") PRIMARY MISSION IS TO IMPROVE THE HEALTH OF ALL, BY LEADING THROUGH INNOVATION AND COLLABORATION IN PATIENT CARE, EDUCATION, AND RESEARCH; AND TO PROMOTE THE PROFESSIONAL AND PERSONAL WELL-BEING OF ITS PHYSICIANS AND OTHER PROVIDERS. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4 FACULTY PRACTICE FOUNDATION, INC. IS AFFILIATED WITH THE FOLLOWING FACULTY PRACTICE PLANS ("THE PLANS"): Boston Emergency Physician Foundation, Inc. Boston Rehabilitation Medicine Associates, Inc. Boston University Cardiac & Thoracic Surgical Foundation, Inc. Boston University Dermatology Support Services I, Inc. Boston University Dermatology Support Services II, Inc. Boston University Dermatology, Inc. Boston University Eye Associates, Inc. Boston University Family Medicine, Inc. Boston University General Surgical Associates, Inc. Boston University Mallory Pathology Associates, Inc. Boston University Medical Center Anesthesiologists, Inc. Boston University Medical Center Otolaryngologic Foundation, Inc. Boston University Medical Center Radiologists, Inc. Boston University Medical Center Urologists, 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 Plastic Surgery Associates, Inc. Boston University Psychiatry Associates, Inc. Boston University Radiation Oncology, Inc. Boston University Surgical Associates, Inc. Child Health Foundation of Boston, Inc. Evans Medical Foundation, Inc. THE FOUNDATION, INCORPORATED ON OCTOBER 18, 1994, IS A TAX-EXEMPT, NON-PROFIT MASSACHUSETTS CORPORATION OPERATED EXCLUSIVELY FOR CLINICAL, CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES. THE PLANS, ALSO TAX-EXEMPT, NON-PROFIT CORPORATIONS, WERE ESTABLISHED TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF BMC AND BOSTON UNIVERSITY SCHOOL OF MEDICINE ("BUSM") (COLLECTIVELY, THE "INSTITUTIONS"). THE FOUNDATION IS GRANTED THE POWER TO APPROVE THE PLANS' ANNUAL OPERATING BUDGETS, PHYSICIAN COMPENSATION PLANS, AND MANAGED CARE CONTRACTS. THE PLANS' PURPOSE IS TO PROVIDE, COORDINATE, AND FACILITATE THE DELIVERY OF PATIENT CARE SERVICES AND TO PROMOTE THE DEVELOPMENT OF AN INTEGRATED SYSTEM OF DELIVERY TO MORE EFFICIENTLY AND EFFECTIVELY MEET THE HEALTH CARE NEEDS OF THE COMMUNITIES SERVED BY THE INSTITUTIONS. STATEMENTS REGARDING OTHER IRS FILNGS AND TAX COMPLIANCE FORM 990, PART V, LINE 2 & PART IX, LINES 7 AND 9 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 DISCLOSURES FORM 990, PART VI, SECTION A, LINES 1A AND 2 ALL OFFICERS AND TRUSTEES EXCEPT GENE LINDSEY AND MONICA NOETHER ARE EMPLOYEES OF EITHER BOSTON UNIVERSITY, BOSTON MEDICAL CENTER, OR THE FACULTY PRACTICE PLAN CORPORATIONS, RELATED ORGANIZATIONS. CERTAIN OFFICERS AND TRUSTEES OF THE FOUNDATION ALSO SERVE AS OFFICERS AND TRUSTEES OF BOSTON MEDICAL CENTER. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE ORGANIZATION ARE TRUSTEES OF BOSTON UNIVERSITY AND BOSTON MEDICAL CENTER. FORM 990, PART VI, SECTION A, LINE 7A AS OUTLINED IN THE BYLAWS, THE BOARD OF TRUSTEES INCLUDES: - THE PRESIDENTS OF THE PRACTICE PLANS FOR THE DEPARTMENT OF MEDICINE AND THE DEPARTMENT OF SURGERY; - TWO TRUSTEES SELECTED FROM THE PRESIDENTS OF THE OTHER PRACTICE PLANS; - THREE TRUSTEES WHO ARE EACH MEDICAL PROFESSIONALS EMPLOYED BY ONE OF THE PRACTICE PLANS; - THREE INDEPENDENT TRUSTEES; - THE PRESIDENT OF THE BOSTON MEDICAL CENTER CORPORATION MEDICAL-DENTAL STAFF; - THE FULL-TIME CEO OF THE FOUNDATION, SERVING AS THE PRESIDENT; - THE CEO OF BMC; AND - THE DEAN OF BUSM. 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 TRUSTEES OR OFFICERS, THE ADDITION OF NEW MEMBERS, AND THE ANNUAL OPERATING BUDGET. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO THE FILING OF THE FORM 990 WITH THE IRS, THE FORM 990 WAS PREPARED BY OUR OUTSIDE TAX CONSULTANTS AND 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. FORM 990, PART VI, SECTION B, LINE 12 CONFLICT OF INTEREST QUESTIONNAIRES FOR THE FISCAL YEAR ENDING JUNE 30, 2020 WERE DISTRIBUTED ON 3/1/2021 BY THE COMPLIANCE AND LEGAL DEPARTMENT. THE CHIEF COMPLIANCE OFFICER QUERIES TRUSTEES AND OFFICERS ON AT LEAST AN ANNUAL BASIS REGARDING RELATIONSHIPS THAT MAY CREATE POTENTIAL CONFLICTS OF INTEREST. THE CHIEF COMPLIANCE OFFICER REVIEWS ALL DISCLOSURES AND DETERMINES WHETHER THERE ARE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE CHIEF COMPLIANCE OFFICER ADVISES THE BOARD OF TRUSTEES AND OFFICERS OF THE CORPORATION ACCORDINGLY. FORM 990, PART VI, SECTION B, LINES 15A AND 15B 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 LEVELS OF COMPENSATION AND COMPENSATION PLANS FOR THE PRACTICE PLANS. 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.