2017-05-12T13:32:54-05:00 2016-06-30 236410283 ISDANER & COMPANY LLC THREE BALA PLAZA SUITE 501 WEST BALA CYNWYD PA 190043484 990 2015-07-01 231352670 THE COLLEGE OF PHYSICIANS OF PHILADELPHIA COLL 2155633737 19 SOUTH 22ND STREET PHILADELPHIA PA 19103 GEORGE M WOHLREICH MD DIRECTOR & CEO 2155633737 2017-05-09 1 EDWARD W DORAN CPA P00841330 6106684200 2015 2021-01-29 14:40:06Z GEORGE M WOHLREICH MD 19 SOUTH 22ND STREET PHILADELPHIA PA 19103 7247488 0 X WWW.COLLEGEOFPHYSICIANS.ORG X 1789 PA ADVANCING THE CAUSE OF HEALTH WHILE UPHOLDING THE IDEALS AND HERITAGE OF MEDICINE 27 27 55 15 158542 157542 1427702 2100161 2074705 2339910 802489 857466 542774 694670 4847670 5992207 0 0 0 0 2446089 2988960 0 0 939288 2329394 2848360 4775483 5837320 72187 154887 27459302 26060366 3951709 3638917 23507593 22421449 X THE COLLEGE OF PHYSICIANS OF PHILADELPHIA ADVANCES THE CAUSE OF HEALTH, WHILE UPHOLDING THE IDEALS AND HERITAGE OF MEDICINE 0 0 534148 3969 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. 1267252 2067505 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. 194967 268436 PUBLIC HEALTH INITIATIVE: THE TWO LARGEST PROGRAMS UNDER THE PHI UMBRELLA ARE THE KARABOTS JUNIOR FELLOWS PROGRAM AND HISTORYOFVACCINES.ORG. THE JUNIOR FELLOWS PROGRAM INSPIRES UNDER-RESOURCED STUDENTS IN PHILADELPHIA TO FOLLOW CAREER PATHS IN THE MEDICAL SCIENCES. HISTORYOFVACCINES.ORG EXPLORES THE HERITAGE, DEVELOPMENT, AND USE OF VACCINES THROUGHOUT HISTORY IN A DYNAMIC, INTERNET-BASED FORMAT. ITS ADVISORY BOARD IS COMPOSED OF HISTORIANS AND SCIENTISTS INVOLVED IN THE DEVELOPMENT OF MODERN VACCINES. 570755 43772 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 570755 43772 2567122 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 128 0 1 55 1 1 1 0 0 0 0 0 0 0 0 0 X 27 27 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X MICHELE LYNCH CFO 2155633737 19 SOUTH TWENTY-SECOND STREET PHILADELPHIA PA 19103 SANKEY V WILLIAMS MD PRESIDENT 7.00 X X 0 0 0 ANDREA BALDECK MD PRESIDENT-ELECT 1.00 X X 0 0 0 LUCY B RORKE-ADAMS MD SECRETARY 1.00 X X 0 0 0 DANIEL T DEMPSEY MD TREASURER 1.00 X X 0 0 0 STANLEY GOLDFARB MD IMMEDIATE PAST PRESIDENT 1.00 X 0 0 0 CAROLYN H ASBURY PHD SCMPH TRUSTEE 1.00 X 0 0 0 CLYDE F BARKER MD TRUSTEE 1.00 X 0 0 0 ANJAN K CHATTERJEE MD TRUSTEE 1.00 X 0 0 0 JOSEPH S CAMARDO MD TRUSTEE 1.00 X 0 0 0 EDWARD S COOPER MD TRUSTEE 1.00 X 0 0 0 MICHAEL A DELLAVECCHIA MD PHD TRUSTEE 1.00 X 0 0 0 ARTHUR C EVANS PHD TRUSTEE 1.00 X 0 0 0 JULIE FAIRMAN PHD RN FAAN TRUSTEE 1.00 X 0 0 0 THOMAS FEKETE MD TRUSTEE 1.00 X 0 0 0 DEREK A GILLMAN MA LLM TRUSTEE 1.00 X 0 0 0 JANICE T GORDON PHD TRUSTEE 1.00 X 0 0 0 JULIA A HALLER MD TRUSTEE 1.00 X 0 0 0 STEPHEN J HARMELIN LLB TRUSTEE 1.00 X 0 0 0 GAIL MORRISON MD TRUSTEE 1.00 X 0 0 0 PAUL A OFFIT MD TRUSTEE 1.00 X 0 0 0 HL PERRY PEPPER TRUSTEE 1.00 X 0 0 0 STEPHEN R PERMUT MD JD TRUSTEE 1.00 X 0 0 0 WILMA BULKIN SIEGEL MD TRUSTEE 1.00 X 0 0 0 MICHAEL SKLAROFF JD TRUSTEE 1.00 X 0 0 0 RHONDA L SORICELLI MD TRUSTEE 1.00 X 0 0 0 WALTER H TSOU MD MPH TRUSTEE 1.00 X 0 0 0 JOSEPH C VIGNOLA TRUSTEE 1.00 X 0 0 0 GEORGE M WOHLREICH MD DIRECTOR AND CEO 60.00 X 313761 0 28089 313761 0 28089 1 0 1 0 CLEAN TECH 114 CHESTNUT STREET PHILADELPHIA PA 19106 CLEANING 250783 KEYSTONE HEALTH PLAN EAST PO BOX 8500 PHILADELPHIA PA 19103 MEDICAL 234752 DILWORTH PAXSON 1500 MARKET STREET SUITE 3500E PHILADELPHIA PA 19102 LEGAL 226223 ALLIED UNIVERSAL PO BOX 828854 PHILADELPHIA PA 19182 SECURITY 144472 CATERING BY DESIGN 18 W HORTTER STREET PHILADELPHIA PA 19119 CATERING 139306 5 2100161 67376 2100161 MUSEUM/GALLERY ADMISSIONS 611600 2007062 2007062 FELLOWSHIP DUES 611600 268436 268436 PROGRAM REVENUE 611600 60443 60443 LIBRARY SERVICES 611600 3969 3969 2339910 713536 713536 943564 543906 399658 399658 158542 241116 650930 507000 143930 143930 143930 455615 204375 251240 251240 OTHER INCOME 611600 43772 43772 43772 5992207 2634922 158542 1098582 343273 343273 2065080 1133281 477876 453923 75233 45158 13271 16804 341731 183553 89875 68303 163643 84031 45507 34105 297553 297553 72492 72492 476122 226849 155380 93893 31770 6571 3690 21509 164406 92825 55378 16203 207904 98101 70202 39601 82854 61001 19505 2348 216659 68668 145527 2464 370743 173989 127065 69689 89234 42172 30181 16881 BAD DEBTS 155471 155471 FOOD & LIQUOR 134990 103199 26769 5022 REPAIRS AND MAINTENANCE 123632 62209 40251 21172 USE & OCCUPANCY TAX 111276 22155 80247 8874 313254 163360 81397 68497 5837320 2567122 2330910 939288 527359 491654 150907 77000 40620 61430 52104 40974 38099 38099 12816963 6940876 6106988 5876087 19980296 18928788 551003 534408 11926 11926 27459302 26060366 394227 379307 277899 314731 3279583 2944879 3951709 3638917 X 13494351 12943592 2411308 1834921 7601934 7642936 23507593 22421449 27459302 26060366 154887 -1241031 0 X X 0 1 X 1 0 X 2205382 1322476 1504175 1427702 2100161 8559896 1541263 1671253 1989994 2393679 2795525 10391714 3746645 2993729 3494169 3821381 4895686 18951610 699163 259578 245570 375807 538920 2119038 728039 351761 79020 1158820 1427202 611339 324590 375807 538920 3277858 15673752 568180 890730 1303357 1709971 1447220 5919458 568180 890730 1303357 1709971 1447220 5919458 82579 22546 125481 143272 158542 532420 56131 43348 6932 11273 43772 161456 4453535 3950353 4929939 5685897 6545220 25564944 0.61310 0.56030 0.23150 0.23350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 19980296 131002 -398706 783804 18928788 19863282 180159 651199 714344 19980296 16994859 225200 3226245 583022 19863282 14819616 58748 2327084 209589 16995859 15156733 138248 52545 527910 14819616 0.55750 0.40380 0.03870 0 0 262950 262950 10372434 4895809 5476625 218772 176046 42726 1949344 1869021 80323 13463 13463 5876087 X 5499457 -1241031 748281 -492750 5992207 0 5992207 6585601 748281 748281 5837320 0 5837320 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, 2016 AND 2015. 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, 2016 OR 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS - INVENTORY 204,375. RENTAL EXPENSES 543,906. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD FROM INVENTORY 204,375. RENTAL EXPENSES 543,906. 0 0 0 0 0 0 0 1 0 GEORGE M WOHLREICH MD DIRECTOR AND CEO 241761 0 72000 0 0 0 13200 0 14889 0 341850 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. DILWORTH PAXSON LLP AN ORGANIZATION TRUSTEE IS A PARTNER AT DILWORTH PAXSON, LLP 217079 DILWORTH PAXSON, LLP PROVIDES LEGAL SERVICES TO THE ORGANIZATION 0 BALLARD SPAHR AN ORGANIZATION TRUSTEE IS A PARTNER AT BALLARD SPAHR 84998 BALLARD SPAHR PROVIDES LEGAL SERVICES TO THE ORGANIZATION 0 X 5 67376 STOCK MARKET VALUE 0 0 1 PART I, LINE 32B: THE COLLEGE'S INVESTMENT MANAGERS LIQUIDATE ALL CONTRIBUTIONS IMMEDIATELY UNLESS OTHERWISE DIRECTED. FORM 990, PART VI, SECTION A, LINE 4 ON MAY 10, 2016, THE VOTING FELLOWSHIP OF THE COLLEGE OF PHYSICIANS OF PHILADELPHIA (THE "COLLEGE") APPROVED SUBSTANTIVE REVISIONS TO THE COLLEGE'S FORMER BY-LAWS. THE RESULTING RESTATED BYLAWS IS A "BEST PRACTICES" VERSION THAT REFLECTS MODERN ORGANIZATIONAL STRUCTURES, USES STANDARD AND CONSISTENT TERMINOLOGY, PROVIDES THE BOARD OF TRUSTEES WITH MORE STREAMLINED AND EFFICIENT PROCEDURES, AND INCORPORATES CURRENT STATUTORY PROTECTIONS AND REQUIREMENTS FOR NONPROFIT INSTITUTIONS IN PENNSYLVANIA. 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 A, LINE 7B FELLOWS HAVE THE OPPORTUNITY TO VOTE ON THE APPROVAL OF ANY REVISIONS TO THE GOVERNING DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS FIRST REVIEWED BY THE CFO AND THE CEO. ONCE THEY HAVE APPROVED, THEY RELEASE THE RETURN TO THE EXECUTIVE COMMITTEE FOR AN ADDITIONAL REVIEW. UPON THE EXECUTIVE COMMITTEE'S APPROVAL, THE 990 DRAFT IS MADE AVAILABLE TO EACH MEMBER OF THE BOARD OF TRUSTEES PRIOR TO SUBMISSION TO THE IRS. 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 15A 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 XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR