2025-02-04T15:26:47-06:00 2024-06-30 236410283 ISDANER & COMPANY LLC ONE BALA PLAZA SUITE 502 BALA CYNWYD PA 19004 990 2023-07-01 231352670 THE COLLEGE OF PHYSICIANS OF PHILADELPHIA COLL 2155633737 19 SOUTH 22ND STREET PHILADELPHIA PA 19103 MARK J RASCHIATORE VP OF ADMIN AND CFO 2155633737 2025-01-29 1 0 EDWARD W DORAN CPA P00841330 6106684200 2025-01-29 2023 2025-03-06 01:10:19Z SANKEY WILLIAMS MD 19 SOUTH 22ND STREET PHILADELPHIA PA 19103 23919074 0 X WWW.COLLEGEOFPHYSICIANS.ORG X 1789 PA ADVANCING THE CAUSE OF HEALTH WHILE UPHOLDING THE IDEALS AND HERITAGE OF MEDICINE 23 23 88 20 1800 0 5334937 15646155 2719611 2558399 1016254 904798 962491 880262 10033293 19989614 0 0 0 0 4805091 4924463 237162 194545 1034399 3793426 4543585 8835679 9662593 1197614 10327021 52896381 66130914 6152879 5745669 46743502 60385245 X THE COLLEGE OF PHYSICIANS OF PHILADELPHIA ADVANCES THE CAUSE OF HEALTH, WHILE UPHOLDING THE IDEALS AND HERITAGE OF MEDICINE 0 0 662586 LIBRARY EXPENDITURES INCURRED TO MAINTAIN AN EXTENSIVE HISTORICAL MEDICAL LIBRARY USED FOR VARIOUS RESEARCH PROJECTS. THE LIBRARY IS ONE OF THE WORLD'S PREMIER COLLECTION OF RARE BOOKS AND INDEPENDENT LIBRARIES DEVOTED TO THE HISTORY OF MEDICINE. 3065716 2209291 MUSEUM EXHIBITS OPEN TO MEDICAL STUDENTS, THE GENERAL PUBLIC, HEALTH CARE PROFESSIONALS, AND STUDENTS OF ALL AGES FOR PURPOSES OF EDUCATION AND RESEARCH. THE MUSEUM IS HOME TO OVER 20,000 OBJECTS INCLUDING MEDICAL INSTRUMENTS, SPECIMENS, MEDICAL ILLUSTRATIONS, AND MEMORIBILIA OF OUTSTANDING PHYSICIANS AND SCIENTISTS. 74758 PUBLIC HEALTH AND EDUCATION: GEORGE & JUDY WOHLREICH JUNIOR FELLOWS IS A SUMMER AFTERSCHOOL PROGRAM AIMED AT UNDER RESOURCED PHILA. HIGH SCHOOL STUDENTS TO FOLLOW CAREER PATHS IN HEALTHCARE AND MEDICINE. GIRLS ONE DIASPORA CLUB IS AN AFTER-SCHOOL INTERNSHIP PROGRAM FOR TEEN GIRLS IN PHILA WHO ARE FROM AFRICA OR WERE BORN OUTSIDE THE US AND HAVE AN INTEREST IN HEALTHCARE OR STEM CAREERS. OUT4STEM IS AN AFTER-SCHOOL INTERNSHIP PROGRAM THAT AIMS TO PROVIDE PHILA. LGBTQIA YOUTH WITH HEALTHCARE AND STEM ORIENTED INSTRUCTION, MENTORING AND ACADEMIC SUPPORT. STEM INTERNSHIP IS A (SCIENCE, TECHNOLOGY, ENGINEERING & MATH) AND SOCIAL JUSTICE PROGRAM FOR PHILA HIGH SCHOOL STUDENTS WHO HAVE BEEN IMPACTED BY COMMUNITY VIOLENCE. HISTORY OF VACCINES.ORG EXPLORES THE HERITAGE, DEVELOPMENT AND USE OF VACCINES THROUGHOUT HISTORY IN A DYNAMIC INTERNET-BASED FORMAT. 1360841 349108 EDUCATIONAL SEMINARS, FELLOWSHIP, AND EVENTS. VARIOUS INFORMATIONAL PROJECTS AND EDUCATIONAL SEMINARS PROVIDED TO SPECIFIC USER GROUPS AND THE PUBLIC. THE FELLOWSHIP PROGRAM IS COMPRISED OF CLOSE TO 1,000 ESTABLISHED LEADERS IN THE FIELDS OF MEDICINE, LAW, AND BUSINESS. EDUCATIONAL SEMINARS COVER A WIDE RANGE OF CURRENT TOPICS AND ISSUES FOR THE BENEFIT OF BOTH HEALTH PROFESSIONALS AND THE GENERAL PUBLIC 1360841 349108 5163901 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 78 0 1 88 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X MARK J RASCHIATORE VP FOR ADMINISTRATION & CFO 2153992337 19 SOUTH TWENTY-SECOND STREET PHILADELPHIA PA 19103 MIRA B IRONS MD PRESIDENT AND CEO UNTIL 11/24/23 60.00 X 451264 0 27836 CAROLYN ASBURY INTERIM CO-CEO FROM 11/1/23 25.00 X X 12692 0 0 DANIEL DEMPSEY INTERIM CO-CEO FROM 11/1/23 15.00 X X 12692 0 0 SANKEY WILLIAMS INTERIM CO-CEO FROM 11/1/23 20.00 X X 0 0 0 MARK J RASCHIATORE VP FOR ADMINISTRATION & CF 40.00 X 146659 0 32242 KATHLEEN M QUINN EXECUTIVE DIRECTOR 35.00 X 185572 0 12592 ANTONIA OBERTHALER VP FELLOWSHIP 35.00 X 115418 0 23001 JULIA HALLER MD CHAIR 1.00 X X 0 0 0 ERICA R THALER MD VICE CHAIR 1.00 X X 0 0 0 GAIL MORRISON SECRETARY 1.00 X X 0 0 0 LARRY KAISER TREASURER 1.00 X X 0 0 0 ALEXANDER VACCARO MD PHD TRUSTEE 1.00 X 0 0 0 ANDREW B ROBERTS MD TRUSTEE 1.00 X 0 0 0 CADENCE KIM MD FACS TRUSTEE 1.00 X 0 0 0 EMILIO EMINI PHD TRUSTEE 1.00 X 0 0 0 ENRIQUE HERNANDEZ MD TRUSTEE 1.00 X 0 0 0 GENEROSA GRANA MD FACP TRUSTEE 1.00 X 0 0 0 HELEN PUDLIN TRUSTEE 1.00 X 0 0 0 HORACE M DELISSER MD TRUSTEE 1.00 X 0 0 0 JANET F HAAS MD TRUSTEE 1.00 X 0 0 0 KATHERINE A HIGH MD TRUSTEE 1.00 X 0 0 0 KATHLEEN KINSLOW CRNA EDD MBA TRUSTEE 1.00 X 0 0 0 LAURIE LOEVNER MD TRUSTEE 1.00 X 0 0 0 LOUIS BELL JR TRUSTEE 1.00 X 0 0 0 MARY F MORRISON MD MS TRUSTEE 1.00 X 0 0 0 N SCOTT ADZICKMD TRUSTEE 1.00 X 0 0 0 NATALIA ORTIZ-TORRENT MD TRUSTEE 1.00 X 0 0 0 NEIL R SATTEN MD MBA TRUSTEE 1.00 X 0 0 0 R BARRETT NOONE MD FACS TRUSTEE 1.00 X 0 0 0 ROBERT G SHARRAR MD MSC TRUSTEE 1.00 X 0 0 0 924297 0 95671 4 0 1 0 P AGNES INC 2101 PENROSE AVE PHILADELPHIA PA 19145 INDUSTRIAL CONTRACTOR 1064469 BALLARD SPAHR 1735 MARKET ST 51ST FLOOR PHILADELPHIA PA 19103 LEGAL 343203 SCHULTZ AND WILLIAMS 1617 JOHN F KENNEDY BLDVD SUITE 170 PHILADELPHIA PA 19103 FUNDRAISING 321765 KIERNAN TIMBERLAKE 841 N AMERICAN ST PHILADELPHIA PA 19123 ARCHITECTURE 272886 O'BRIEN BUSINESS SYSTEMS 739 ELM STREET CONSHOHOCKEN PA 19428 CABINET INSTALLATION 253945 5 15646155 99792 15646155 MUSEUM/GALLERY ADMISSIONS 611600 2209291 2209291 FELLOWSHIP DUES 611600 316410 316410 LIBRARY SERVICES 611600 18381 18381 PROGRAM REVENUE 611600 14317 14317 2558399 764176 764176 569914 134437 435477 435477 1800 433677 3606130 3465508 140622 140622 140622 726182 329515 396667 396667 OTHER INCOME 611600 48118 48118 48118 19989614 3003184 1800 1338475 X 545772 20000 525772 3523123 2401840 775560 345723 158878 95122 45992 17764 402093 263231 89135 49727 294597 174673 84900 35024 370834 370834 57551 57551 194545 194545 34558 34558 1034757 603505 400748 30504 107185 6176 53 100956 200175 108296 83988 7891 261273 148441 91615 21217 53552 34000 19078 474 397672 211728 140075 45869 1005061 498666 435120 71275 164771 32841 127236 4694 REPAIRS AND MAINTENANCE 350764 229371 90301 31092 FOOD & LIQUOR 154916 115663 19088 20165 SECURITY 116474 69973 36500 10001 MISCELLANEOUS 73375 46928 13840 12607 160667 103447 22349 34871 9662593 5163901 3464293 1034399 623842 219690 1987328 6427328 349731 322932 76840 72601 27959722 10863807 18038301 17095915 31707646 41818525 100797 161997 11896 11926 52896381 66130914 1327550 900403 118649 203755 4706680 4641511 6152879 5745669 X 26243663 32589222 20499839 27796023 46743502 60385245 52896381 66130914 10327021 3314722 0 X X 0 1 X 1 0 X 3087977 4572970 2731798 5334937 15646155 31373837 2682625 1661000 3353157 3650317 3284581 14631680 5770602 6233970 6084955 8985254 18930736 46005517 1865168 2747708 436664 2309567 893857 8252964 0 1865168 2747708 436664 2309567 893857 8252964 37752553 1377317 700094 821428 1604688 1334090 5837617 1377317 700094 821428 1604688 1334090 5837617 52518 27992 60498 7068 48118 196194 7200437 6962056 6966881 10597010 20312944 52039328 0.72550 0.63050 0.11220 0.14840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 31707646 8641359 4184962 2715442 41818525 36330800 1698896 3594940 9916990 31707646 42972378 727659 -4097168 3272069 36330800 31223519 2768500 10102608 1122249 42972378 31905767 1803002 44589 2529839 31223519 0.38190 0.61810 0 0 95000 95000 25030456 8330530 16699926 22960 22960 0 2811306 2510317 300989 17095915 X 23733730 3314722 463952 3778674 19955056 34558 34558 19989614 10091987 463952 463952 9628035 34558 34558 9662593 PART III, LINE 1A: HISTORICAL COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE COLLEGE'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS IN THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. THE COLLEGE'S HISTORICAL COLLECTIONS ARE MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE, SCIENTIFIC SPECIMENS, AND ART OBJECTS THAT ARE HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC, AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING ITS EXISTENCE AND ASSESSING ITS CONDITION ARE PERFORMEED CONTINUOUSLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS, AND/OR THE MAINTENANCE, CONSERVATION, REHABILITATION, RESTORATION, IMPROVEMENT AND UPKEEP OF EXISTING COLLECTIONS. THERE WERE NO PURCHASES OR SALES OF HISTORICAL COLLECTIONS DURING THE YEARS ENDED JUNE 30, 2023 AND 2022. PART V, LINE 4: THE COLLEGE'S ENDOWMENT FUNDS SUPPORT THE OPERATIONS OF THE COLLEGE, INCLUDING LECTURES, ENDOWED CHAIRS, LIBRARY OPERATIONS, BUILDING RENOVATIONS, MUSEUM OPERATIONS, AND OTHER HISTORICAL ENDEAVORS. THE COLLEGE'S ENDOWMENT CONSISTS OF UNRESTRICTED AND DONOR-RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES AS REQUIRED BE GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE COLLEGE IS A PUBLIC CHARITY THAT HAS OBTAINED AN EXEMPTION FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR FEDERAL OR STATE INCOME TAXES. THE COLLEGE IS SUBJECT, HOWEVER, TO FEDERAL INCOME TAXES ON UNRELATED BUSINESS TAXABLE INCOME. PURSUANT TO FASB ACCOUNTING STANDARDS CODIFICATION TOPIC 740, THE COLLEGE RECOGNIZES TAX BENEFIT ONLY IF IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION. NO LIABILITY FOR UNCERTAIN TAX POSITIONS WAS RECORDED AS OF JUNE 30, 2024 OR 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS - INVENTORY 329,515. RENTAL EXPENSES 134,437. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD FROM INVENTORY 329,515. RENTAL EXPENSES 134,437. X X X X X X 0 SCHULTZ & WILLIAMS 1617 JOHN F KENNEDY BLDV 1700 PHILADELPHIA PA 19103 CAMPAIGN FUNDRAISING 0 0 194545 -194545 194545 -194545 X 0 0 0 0 0 0 0 1 0 MIRA B IRONS MD PRESIDENT AND CEO UNTIL 11/24/23 451264 0 0 0 0 0 0 0 27836 0 479100 0 0 0 MARK J RASCHIATORE VP FOR ADMINISTRATION & CF 146659 0 0 0 0 0 0 0 32242 0 178901 0 0 0 KATHLEEN M QUINN EXECUTIVE DIRECTOR 185572 0 0 0 0 0 0 0 12592 0 198164 0 0 0 PART I, LINE 7 THE CEO RECEIVES A BONUS BASED ON THE ORGANIZATION'S OPERATIONS FOR THE YEAR AND IS AT THE DISCRETION OF THE BOARD'S EXECUTIVE COMMITTEE. X 1 99792 STOCK MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE FELLOWS. FELLOWS OF THE COLLEGE PAY DUES TO BE PART OF THE FELLOWSHIP. THEY ARE NOMINATED BY FELLOWS, REVIEWED AND APPROVED BY THE ADMISSIONS COMMITTEE, AND THEN TO THE FULL BOARD AND FELLOWSHIP FOR APPROVAL FORM 990, PART VI, SECTION A, LINE 7A FELLOWS HAVE THE OPPORTUNITY TO VOTE ON THE APPROVAL OF BOARD DIRECTORS FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY FINANCE & INVESTMENT COMMITTEE THAT PROVIDES APPROVAL, ALONG WITH PRESIDENT AND CEO. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES, OFFICERS, AND KEY EMPLOYEES ARE REQUIRED TO SIGN ANNUAL CONFIDENTIAL DISCLOSURE STATEMENTS WHICH MUST DISCLOSE ANY POTENTIAL OR PERCEIVED CONFLICTS. IN ADDITION, THE GOVERNANCE COMMITTEE, WHICH CONSISTS OF TRUSTEES AND THE CEO (NON-VOTING), IS REQUIRED TO REVIEW ANY CONFLICTS OF INTEREST THROUGHOUT THE YEAR. THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEE RECOMMENDS (TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES) EXCEPTIONS TO THE POLICY ON A CASE-BY-CASE BASIS. FAMILY AND BUSINESS RELATIONSHIPS ARE EXPRESSLY MENTIONED IN THE CONFLICT OF INTEREST POLICY AS BEING OF INTEREST RELATIVE TO ANY POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S ADVISORY GROUP, WHICH IS CONSIDERED THE ORGANIZATION'S COMPENSATION COMMITTEE, PERFORMS AN ANNUAL REVIEW. THE COMMITTEE'S REVIEW COMPARES OFFICER'S COMPENSATION FOR OTHER LIKE POSITIONS IN THE REGION. DISCUSSIONS ON COMPENSATION ARE IN CLOSED SESSION AND ARE NOT RECORDED IN GENERAL BOARD MINUTES. ALL OTHER KEY EMPLOYEES' COMPENSATION IS DECIDED BY THE CEO USING SIMILAR METHODS TO ENSURE ALL COMPENSATION IS WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 547,663. MANAGEMENT AND GENERAL EXPENSES 399,887. FUNDRAISING EXPENSES 30,268. TOTAL EXPENSES 977,818. HONORARIA: PROGRAM SERVICE EXPENSES 55,842. MANAGEMENT AND GENERAL EXPENSES 861. FUNDRAISING EXPENSES 236. TOTAL EXPENSES 56,939. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR