2020-05-13T05:50:27-05:00 2019-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2018-07-01 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 2020-05-11 true Shy Joseph P01085371 6179881000 2020-05-07 199.207.253.96 04502320201345000002 2020-05-13 P 8584CA4C8441E12A04203370CBD25B7D7B5DAE94 072F242B0F8FA55BC44C4BBFD6D81B3F0B7E1C92 2018 2021-01-29 14:40:06Z WILLIAM R CREEVY MD One Boston Medical Center PL Boston MA 02118 10472156 false 8094 X WWW.BMC.ORG X 1994 MA SEE SCHEDULE O 14 2 0 15 0 0 0 0 11348719 10324498 117278 147658 0 0 11465997 10472156 0 0 0 0 13565610 13243701 0 0 0 3175747 4284646 16741357 17528347 -5275360 -7056191 105403670 85395354 100395185 79717806 5008485 5677548 X SEE SCHEDULE O false false 15105421 10472156 SEE SCHEDULE O 15105421 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 true 246 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 Karen Antman MD Trustee 2.0 56.0 X 0 905731 32406 Marilyn Augustyn MD Trustee 4.0 0.0 X 0 191324 50472 Sheila Chapman MD Trustee 4.0 0.0 X 0 211577 91617 Stephen Christiansen MD Trustee/Treasurer 4.0 50.0 X X 0 632498 60041 David Coleman MD Trustee/Clerk 4.0 51.0 X X 0 755693 33764 William Creevy MD Trustee/President 32.0 22.0 X X 0 1134574 57759 Aviva Lee-Parritz MD Trustee 4.0 50.0 X 0 469829 51902 Gene Lindsey MD Trustee 4.0 0.0 X 0 0 0 Brendan Magauran MD Trustee (Until 9/30/2018) 4.0 1.0 X 0 385554 60092 Claudio Morera MD Trustee 4.0 0.0 X 0 193358 94216 Monica Noether PhD Trustee/Chair 4.0 0.0 X X 0 0 0 Jennifer Tseng MD Trustee 4.0 0.0 X 0 936767 6840 Anita Tucker TRUSTEE 4.0 0.0 X 0 265728 90878 Kathleen Walsh Trustee 4.0 50.0 X 0 2535523 19357 Susannah Rowe Trustee (as of 10/1/18) 50.0 0.0 X 0 210293 50874 David Beck Assistant Clerk 4.0 55.0 X 0 496971 87198 Daniel Remick MD Former Trustee/Treasurer 0.0 50.0 X 0 600627 50005 Robert Vinci MD Former Trustee/Treasurer 0.0 50.0 X 0 514915 53107 0 10440962 890528 0 true true false VIZIENT Inc 290 E John Carpenter Freeway IRVING TX 75602 Consulting Services 104286 1 0 INSTITUTIONAL SUPPORT & OTHER REVENUE 900099 10324498 10324498 10324498 147658 0 147658 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10472156 10324498 0 147658 0 0 0 0 0 0 10246553 9119432 1127121 0 0 2997148 2667462 329686 0 413037 413037 0 157468 157468 0 0 11500 11500 380189 380189 255 255 33367 29697 3670 0 0 105616 105616 2539 2539 0 83110 83110 0 2905181 2905181 0 147789 147789 RECRUITMENT NON-MEDICAL STAFF 40821 40821 TAXES/FEES/PENALTIES 1125 1125 OTHER 2649 2649 17528347 15105421 2422926 0 0 0 50362080 27660763 0 0 0 0 0 0 0 0 0 0 0 0 0 0 168647 168647 5229685 5583128 0 0 0 0 0 0 49811905 52151463 105403670 85395354 943524 808275 0 0 0 0 0 0 0 0 0 0 0 0 0 0 99451661 78909531 100395185 79717806 X 5008485 5677548 0 0 0 0 5008485 5677548 105403670 85395354 -7056191 214172 7511082 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. 168647 168647 DUE FROM AFFILIATES 1498700 INSURANCE RECOVERIES RECEIV. 50454948 OTHER ASSETS 216170 OTHER RECEIVABLES -18355 52151463 0 DUE TO AFFILIATES 22515465 PROFESSIONAL LIABILITY CLAIMS 50454948 LONG TERM PROF. LIABILITY RESERVE 5939118 78909531 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, 2019 AND 2018. 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, 2019 AND 2018. false true false false false false false false false Karen Antman MD Trustee 0 894825 0 0 0 10906 0 31800 0 606 0 938137 0 0 Marilyn Augustyn MD Trustee 0 190548 0 0 0 776 0 22757 0 27715 0 241796 0 0 Sheila Chapman MD Trustee 0 204964 0 5350 0 1263 0 23882 0 67735 0 303194 0 0 Stephen Christiansen MD Trustee/Treasurer 0 627849 0 0 0 4649 0 31800 0 28241 0 692539 0 0 David Coleman MD Trustee/Clerk 0 749021 0 0 0 6672 0 31800 0 1964 0 789457 0 0 William Creevy MD Trustee/President 0 981291 0 148610 0 4673 0 31800 0 25959 0 1192333 0 0 Aviva Lee-Parritz MD Trustee 0 466495 0 0 0 3334 0 31800 0 20102 0 521731 0 0 Brendan Magauran MD Trustee (Until 9/30/2018) 0 346192 0 37815 0 1547 0 31800 0 28292 0 445646 0 0 Claudio Morera MD Trustee 0 192945 0 0 0 413 0 22697 0 71519 0 287574 0 0 Jennifer Tseng MD Trustee 0 934313 0 0 0 2454 0 0 0 6840 0 943607 0 0 Anita Tucker TRUSTEE 265277 0 451 0 17761 0 73117 0 356606 0 0 Kathleen Walsh Trustee 0 1294489 0 573300 0 667734 0 13750 0 5607 0 2554880 0 436000 David Beck Assistant Clerk 0 374943 0 119700 0 2328 0 64850 0 22348 0 584169 0 0 Daniel Remick MD Former Trustee/Treasurer 0 595435 0 0 0 5192 0 31800 0 18205 0 650632 0 0 Robert Vinci MD Former Trustee/Treasurer 0 511201 0 0 0 3714 0 31800 0 21307 0 568022 0 0 Susannah Rowe Trustee (as of 10/1/18) 0 204679 0 5062 0 552 0 25440 0 25434 0 261167 0 0 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 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 outlines in the agreement. For calendar year 2018 $461,050 was vested and is reflected in Schedule J, Part II, Column (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, 2019 WERE DISTRIBUTED ON MARCH 3, 2020 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. 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