2012-07-13T15:01:27-04:00 2011-08-31 ERNST & YOUNG US LLP 111 MONUMENT CIRCLE SUITE 2600 INDIANAPOLIS IN 46204 990 2010-09-01 363097297 Northwestern Medical Faculty Foundation NORT 3126959166 680 North Lake Shore Drive Chicago IL 60611 Eric G Neilson MD 2012-07-13 3176817000 2010 2016-02-24 21:20:13Z Eric G Neilson MD 680 N Lake Shore Drive Chicago IL 60611 599852067 false X www.nmff.org X 1981 IL THE MISSION OF NORTHWESTERN MEDICAL FACULTY FOUNDATION IS TO PROMOTE OPTIMAL HEALTH BY PREVENTING AND CURING DISEASE, PROVIDING HIGH QUALITY CARE, AND SUPPORTING CRITICAL INQUIRY AND CONTINUOUS LEARNING. 32 6 2277 10 33030 0 14363797 23521970 536910335 545752642 1760070 3925523 -60020 0 552974182 573200135 56971610 46305861 0 0 304234023 318176960 0 0 0 173098469 171901591 534304102 536384412 18670080 36815723 379128742 450148097 210652855 233576398 168475887 216571699 ABOUT NORTHWESTERN MEDICAL FACULTY FOUNDATION NORTHWESTERN MEDICAL FACULTY FOUNDATION (FOUNDATION) IS A FACULTY PRACTICE PLAN FOR THE FULL-TIME FACULTY OF NORTHWESTERN UNIVERSITY'S FEINBERG SCHOOL OF MEDICINE. COMPRISED OF APPROXIMATELY 720 PHYSICIANS AND 1,350 OTHER HEALTHCARE PROFESSIONALS, THE FOUNDATION PROVIDES SUPPORT FOR THE CLINICAL CARE ACTIVITIES OF ITS MEMBERS, A VENUE FOR MEDICAL EDUCATION AND CLINICAL RESEARCH, CHARITABLE OUTREACH TO THE COMMUNITY, AND FINANCIAL SUPPORT FOR THE ACADEMIC MISSION OF THE FEINBERG SCHOOL OF MEDICINE. MISSION: TO PROMOTE OPTIMAL HEALTH FOR OUR PATIENTS AND THE BROADER COMMUNITY BY PREVENTING AND CURING DISEASE, PROVIDING HIGH QUALITY MEDICAL CARE, AND SUPPORTING CRITICAL INQUIRY AND CONTINUOUS LEARNING. CORE COMMITMENTS: 1. TO PROVIDE ACCESSIBLE, EFFICIENT, AND EFFECTIVE MEDICAL CARE, WITH AN EMPHASIS ON DISTINCT INTERDISCIPLINARY SERVICES THAT FOCUS ON THE NEEDS OF THE PATIENT. 2. TO MAINTAIN PUBLIC AND INSTITUTIONAL TRUST BY EMBRACING THE HIG false false 446273237 545752642 THE FOUNDATION IS COMMITTED TO PROVIDING HIGH QUALITY CLINICAL CARE TO OUR PATIENTS AND COMMUNITIES. OUR SPECIALISTS WORK ACROSS THE TRADITIONAL BOUNDARIES OF MEDICINE TO LEVERAGE THEIR EXPERTISE AND TO PROVIDE PATIENTS WITH COMPREHENSIVE, INDIVIDUALIZED, AND INNOVATIVE CLINICAL CARE. NORTHWESTERN MEMORIAL HOSPITAL, WHERE OUR MEMBERS ARE ATTENDING PHYSICIANS, IS RANKED AS A LEADER IN CLINICAL CARE IN A VARIETY OF SPECIALTIES BY U.S. NEWS AND WORLD REPORT. AMONG THESE ARE CANCER CARE; KIDNEY DISORDERS; HEART AND HEART SURGERY; GERIATRICS; EAR, NOSE AND THROAT; DIGESTIVE DISORDERS; RHEUMATOLOGY; DIABETES AND ENDOCRINE DISORDERS; NEUROLOGY AND NEUROSURGERY; GYNECOLOGY; ORTHOPEDICS; AND, UROLOGY. THE FOUNDATION ALSO OFFERS A VARIETY OF LEADING MULTIDISCIPLINARY PROGRAMS THAT SERVE OUR PATIENT COMMUNITIES. EXAMPLES OF THESE ARE OUR CARDIOVASCULAR CENTER, CANCER CENTER, AND PELVIC HEALTH CENTER. THE BLUHM CARDIOVASCULAR INSTITUTE IS A RENOWNED HEART AND VASCULAR PROGRAM THAT OFFERS COMPREHENSIVE SERVICES AND TREATMENTS IN ALL AREAS OF CARDIOVASCULAR CARE. THE ROBERT H. LURIE COMPREHENSIVE CANCER CENTER IS COMMITTED TO PROVIDING PATIENTS WITH STATE-OF-THE ART TREATMENT, INNOVATIVE CLINICAL TRIAL OPTIONS, AND COMPASSIONATE CARE. THE MAGGIE DALEY CENTER FOR WOMEN'S CANCER CARE CENTRALIZES OUTPATIENT CANCER CARE FOR WOMEN, BRINGING TOGETHER IN ONE LOCATION BREAST MEDICAL ONCOLOGY, BREAST SURGERY, BREAST IMAGING, AND A COMPREHENSIVE RANGE OF SUPPORTIVE ONCOLOGY SERVICES. THE PELVIC HEALTH CENTER, A MULTIDISCIPLINARY CENTER TREATING SUCH DISORDERS AS INCONTINENCE, PELVIC ORGAN PROLAPSE, AND PELVIC PAIN SYNDROMES, BRINGS TOGETHER SPECIALISTS FROM UROGYNECOLOGY, UROLOGY, COLORECTAL SURGERY, AND REHABILITATION AND PHYSICAL THERAPY. THE FOUNDATION IS COMMITTED TO BEING A LEADING PROVIDER OF CLINICAL CARE TO ALL OF OUR COMMUNITIES AND NEIGHBORHOODS, REGARDLESS OF A PATIENT'S ABILITY TO PAY. IN ACCORDANCE WITH OUR COMMITMENT TO THE COMMUNITY, THE FOUNDATION PROVIDES MEDICAL CARE TO INDIGENT AND ECONOMICALLY DISADVANTAGED PERSONS FREE OF CHARGE OR AT DISCOUNTED RATES. ADDITIONALLY, THE FOUNDATION PROVIDES MEDICAL CARE TO PERSONS COVERED BY GOVERNMENT PROGRAMS WHICH PROVIDE REIMBURSEMENT AT RATES THAT ARE LESS THAN THE RELATED COSTS, AND TO PATIENTS WHO ARE OTHERWISE UNABLE TO PAY FOR MEDICAL SERVICES. THE FOUNDATION PROVIDES FINANCIAL ASSISTANCE TO THOSE PATIENTS WHO FACE CHALLENGES REGARDING THEIR ABILITY TO PAY FOR MEDICALLY NECESSARY SERVICES. THE FOUNDATION OFFERS CHARITY CARE OPTIONS TO ITS PATIENTS WHO ARE ILLINOIS RESIDENTS (WITH SOME EXCEPTIONS FOR NONRESIDENTS) AND WHO MEET THE GUIDELINES SET FORTH BY ITS CHARITY CARE POLICY AND WHO APPLY FOR FINANCIAL ASSISTANCE. THE CURRENT GUIDELINES OFFER A 100% DISCOUNT TO PATIENTS WITH INCOME UP TO 250% OF THE FEDERAL POVERTY LEVEL AND A 75% DISCOUNT TO PATIENTS WITH INCOME 251-600% OF THE FEDERAL POVERTY LEVEL. EVEN IF A PATIENT IS NOT ELIGIBLE FOR A DISCOUNT DUE TO INCOME LEVEL, CHARGES ARE CAPPED TO NOT EXCEED SPECIFIED PERCENTAGES OF A PATIENT'S ANNUAL INCOME. THE FOUNDATION ALSO STRIVES TO PROVIDE A FULL CONTINUUM OF CLINICAL CARE TO OUR COMMUNITY THAT MEETS THE VARYING HEALTHCARE NEEDS OF ITS RESIDENTS. IN ORDER TO PROVIDE COMPREHENSIVE CARE, THE FOUNDATION OFFERS SERVICES THAT ARE OFTEN CRITICAL TO A PATIENT'S HEALTH, BUT WHERE REIMBURSEMENT DOES NOT COVER THE COSTS OF PROVIDING THE SERVICES. THE FOUNDATION ENGAGES IN A NUMBER OF COMMUNITY OUTREACH ACTIVITIES, MANY OF WHICH PROVIDE ACCESS TO HIGH QUALITY CARE TO COMMUNITY RESIDENTS WHO MAY NOT OTHERWISE RECEIVE ADEQUATE TREATMENT. FOUNDATION PHYSICIANS FROM NUMEROUS PRACTICE AREAS PROVIDE FREE MEDICAL CARE AT COMMUNITY CLINICS SERVING THE INDIGENT AND UNDERSERVED POPULATIONS. IN ADDITION, SEVERAL FOUNDATION PHYSICIANS PROVIDE CARE AT THE JESSE BROWN VETERANS ADMINISTRATION MEDICAL CENTER AND AT THE JOHN STROGER HOSPITAL OF COOK COUNTY. VARIOUS CLINICAL DEPARTMENTS PARTICIPATE IN FREE DISEASE SCREENING ACTIVITIES. FOR EXAMPLE, THE FOUNDATION'S DEPARTMENT OF SURGERY CONTINUES TO PARTNER WITH THE ILLINOIS DEPARTMENT OF PUBLIC HEALTH TO PROVIDE COLONOSCOPY SCREENINGS FOR THE UNINSURED. FOUNDATION PHYSICIANS SUPERVISE MEDICAL STUDENTS WHO OPERATE A FREE SCREENING AND TREATMENT CLINIC IN CHICAGO'S CHINATOWN. THE FOUNDATION ALSO OFFERS FREE TRANSLATION SERVICES TO ALL PATIENTS. FURTHER, THE FOUNDATION SPONSORS A TRANSPLANT PROGRAM DEDICATED TO SPANISH SPEAKING PATIENTS IN ORDER TO MORE EFFECTIVELY EDUCATE AND TREAT THE SPANISH SPEAKING SEGMENT OF OUR COMMUNITY. THE FOUNDATION ALSO SUPPORTS OTHER HEALTH-RELATED AND NON-HEALTH-RELATED PROGRAMS OF BENEFIT TO SURROUNDING COMMUNITIES. A "CHARITABLE TEAM," COMPRISED OF EMPLOYEE VOLUNTEERS FROM A CROSS-SECTION OF DEPARTMENTS, IDENTIFIES OPPORTUNITIES DESIGNED TO SUPPORT COMMUNITY NEEDS. DURING FISCAL YEAR 2011, THESE ACTIVITIES HAVE INCLUDED CLOTHING, FOOD, SCHOOL SUPPLY, AND TOY DRIVES; A FUNDRAISING EVENT FOR THE ALZHEIMER'S ASSOCIATION; AND PARTICIPATING IN THE CHICAGO CARE-A-THON. IN ADDITION, THE FOUNDATION PROVIDES EXTENSIVE HEALTH CARE STUDENT TRAINING, CLINICAL OBSERVATION OPPORTUNITIES, AND IN-SERVICE OR OTHER TRAINING PROGRAMS FOR NON-NORTHWESTERN STUDENTS, VISITING SCHOLARS AND CLINICIANS, AND HEALTH CARE PROFESSIONALS. CLINICAL PRACTICE AREAS AND ADMINISTRATIVE DEPARTMENTS WITHIN THE FOUNDATION ALSO PARTICIPATE IN A NUMBER OF ACTIVITIES WHICH BENEFIT LOCAL, NATIONAL, AND INTERNATIONAL COMMUNITIES. THESE INCLUDE: - PROVIDING MEETING SPACE FOR COMMUNITY SUPPORT GROUPS: FOR EXAMPLE, THE FOUNDATION'S DEPARTMENT OF DERMATOLOGY PROVIDES FREE SPACE FOR VARIOUS NON-FOUNDATION DISEASE-SPECIFIC SUPPORT GROUPS; - PROVIDING SUPPORT PROGRAMS FOR PATIENTS, FAMILIES/CAREGIVERS AND THE PUBLIC: THE FOUNDATION'S MONTHLY "CANCER CONNECTIONS" MEETING PROVIDES PATIENTS, CAREGIVERS AND FAMILY MEMBERS, AND THE PUBLIC AN OPPORTUNITY TO LEARN ABOUT LOCAL SUPPORT GROUPS, EDUCATIONAL PROGRAMS, WELLNESS ACTIVITIES AND COMMUNITY RESOURCES TO ASSIST PATIENTS IN THEIR CANCER JOURNEY. FOUNDATION PHYSICIANS ALSO COLLABORATE WITH PRENTICE WOMEN'S HOSPITAL TO PROVIDE PERINATAL LOSS SUPPORT GROUPS FOR PATIENTS AND THE PUBLIC; - PROVIDING HEALTH INFORMATION TO THE COMMUNITY: PHYSICIANS FROM ALMOST EVERY CLINICAL AREA AT THE FOUNDATION ARE FREQUENT SPEAKERS AT COMMUNITY EDUCATION EVENTS, AS WELL AS CONTRIBUTORS TO STRUCTURED EDUCATIONAL PROGRAMS. THE INTERNET HAS ALSO PROVIDED A FORUM FOR FOUNDATION PHYSICIANS TO COMMUNICATE HEALTH INFORMATION TO THE PUBLIC; - PARTICIPATING IN OR SPONSORING FUND-RAISING EVENTS TO BENEFIT DISEASE RESEARCH OR EDUCATION: SEVERAL DEPARTMENTS PARTICIPATE IN ASSOCIATION-SPONSORED FUNDRAISING EVENTS (E.G., "CHICAGO GO RED FOR WOMEN") OR DIRECTLY SPONSOR VARIOUS FUND-RAISING EVENTS (E.G., ROBERT H. LURIE CANCER CENTER SURVIVORS WALK). - PARTICIPATING IN HEALTH FAIRS AND DISEASE-SPECIFIC AWARENESS PROGRAMS. - SUPPORTING VOLUNTEER ACTIVITIES OF FOUNDATION EMPLOYEES THROUGH PAID-TIME-OFF: FOR EXAMPLE, THE DEPARTMENT OF ANESTHESIOLOGY ALLOWS EMPLOYEES TO PARTICIPATE IN VOLUNTEER ACTIVITIES WITHOUT USING VACATION TIME. AS A RESULT, FOUNDATION EMPLOYEES HAVE PARTICIPATED IN MEDICAL MISSIONS AROUND THE WORLD AND VOLUNTEERED AS HOTLINE CONSULTANTS. - SUPPORTING IN-KIND CONTRIBUTION TO ORGANIZATIONS THAT BENEFIT THE COMMUNITY: THE FOUNDATION ENCOURAGES ITS EMPLOYEES TO BE ACTIVELY INVOLVED IN PROFESSIONAL ACTIVITIES, AND MANY OF THE PROFESSIONAL ORGANIZATIONS IN WHICH THE EMPLOYEES ARE INVOLVED SEEK TO IMPROVE PUBLIC HEALTH. 46305861 46305861 THE FOUNDATION IS COMMITTED TO THE MISSION OF ADVANCING THE BOUNDARIES OF MEDICAL SCIENCE AND CLINICAL PRACTICES THROUGH THE DISCOVERY, TRANSLATION, AND DISSEMINATION OF KNOWLEDGE IN CONJUNCTION WITH ITS ACADEMIC PARTNER, NORTHWESTERN UNIVERSITY FEINBERG SCHOOL OF MEDICINE (FSM). THE FOUNDATION ALSO IS COMMITTED TO TRAINING THE NEXT GENERATION OF HEALTHCARE PROVIDERS. THE FOUNDATION'S MEMBER PHYSICIANS ALSO SERVE AS FACULTY AT FSM AND PARTICIPATE IN A WIDE RANGE OF ACADEMIC ACTIVITIES INCLUDING TEACHING, RESEARCH, AND OTHER SCHOLARLY ACTIVITIES. FSM WAS RANKED IN THE TOP TWENTY MEDICAL SCHOOLS IN THE NATION BY RESEARCH RANK BY U.S. NEWS AND WORLD REPORT. FOR THE YEAR ENDED AUGUST 31, 2011, THE FOUNDATION CONTRIBUTED $46.3 MILLION TO FSM FOR THE PURPOSE OF DEVELOPING AND SUSTAINING MEDICAL EDUCATION PROGRAMS, ENHANCING BASIC AND APPLIED BIOMEDICAL RESEARCH, AND SUPPORTING OTHER RESEARCH AND EDUCATIONAL ACTIVITIES. IN PARTICULAR, DURING FISCAL YEAR 2011, FSM REPORTS THAT CONTRIBUTIONS FROM THE FOUNDATION: SUPPORTED THE RECRUITMENT AND RETENTION OF FACULTY INVESTIGATORS AND ACADEMIC LEADERS; PROVIDED FUNDING FOR CORE FACILITIES AND SERVICES FOR RESEARCH AND EDUCATION, INCLUDING THE CLINICAL AND TRANSLATIONAL SCIENCES INSTITUTE, CENTER FOR SIMULATION AND TECHNOLOGY AND IMMERSIVE LEARNING, AND THE CENTER FOR COMPARATIVE MEDICINE; ENABLED THE RENOVATION AND IMPROVEMENT OF PHYSICAL FACILITIES FOR RESEARCH AND EDUCATION; AND, PROVIDED FINANCIAL RESOURCES FOR THE GENERAL SUPPORT OF DEPARTMENT-BASED COSTS OF ACADEMIC AND RESEARCH ACTIVITIES, INCLUDING SALARIES OF FACULTY, GRADUATE STUDENTS, FELLOWS, AND RESEARCH STAFF. 492579098 true true false false false false false false false true true false true true false false true false false true false false false false false false true false true false false false true false false false false false false false false false true true true false false true 210 0 true 2277 true true true false false false false true true false false false false X 32 6 false true true false true true true true true false false false true true true true true true true true true IL X BRIAN M WALSH 3126950141 680 N LAKE SHORE DRIVE CHICAGO IL 60611 Jeffrey Glassroth MD 60.0 X X 836505 80097 57510 James Larry Jameson MD 60.0 X 727844 735261 68912 Howard Chrisman MD 60.0 X 524922 1558 37477 Eric Russell MD 60.0 X X 751785 132055 65739 Robert Kern MD 60.0 X 592106 213988 66101 Amy Paller MD 60.0 X 499364 129716 71121 Anthony Schaeffer MD 60.0 X 724236 307745 65037 Bharat Mittal MD 60.0 X 653270 98963 65004 Michael Schafer MD 60.0 X 310838 365311 138575 H Huntington Batjer MD 60.0 X 1123501 125592 65328 James Adams MD 60.0 X 332126 224010 53973 John Kessler MD 60.0 X 477321 231933 71721 Sharon Dooley MD 60.0 X 0 224550 34060 Sherman Elias MD 60.0 X 275679 416782 74206 Nathaniel Soper MD 60.0 X 668897 162089 66548 William Muller MD 60.0 X 290475 297440 73221 John Csernansky MD 60.0 X 194727 269237 62433 Douglas Vaughan MD 60.0 X 510527 259758 69598 Nicholas Volpe MD 60.0 X 116161 94925 19556 Marie Christine Stock MD 60.0 X 609989 1000 52823 Robert Sufit MD 60.0 X 187176 59495 36270 Gregory Dumanian MD 60.0 X 761117 33345 58057 Robert Feder MD 60.0 X 292287 -410 54811 James Chandler MD 60.0 X 785808 2623 38374 William Grobman MD 60.0 X 52841 231699 51871 Kevin O'Leary MD 60.0 X 198795 31234 49858 Judith Wolfman MD 60.0 X 390524 1000 53448 David Mahvi MD 60.0 X 439158 103784 61515 Gary Martin 60.0 X 140358 196694 59361 Dean Harrison 1.0 X 0 0 0 Stephen Crawford 1.0 X 3750 0 0 Charles Gardner 1.0 X 7350 0 0 J Douglas Gray 1.0 X 3300 0 0 Kathy Hannan 1.0 X 0 0 0 Lloyd Morgan 1.0 X 4850 0 0 Lisa Anastos 60.0 X 631271 0 27632 Brian Walsh 60.0 X 378567 0 33284 Danae Prousis 60.0 X 509641 0 32500 Carl Christensen 60.0 X 142394 0 15770 Norman A Botsford 60.0 X 0 0 0 Michael Abecassis MD 60.0 X 451830 630248 72805 Simon Yoo MD 60.0 X 1083057 3000 38805 Steven Rosen MD 60.0 X 202158 963349 63666 Murad Alam MD 60.0 X 1180111 3000 38198 Patrick McCarthy MD 60.0 X 1796058 188096 60534 Lewis Landsberg MD 60.0 X 58786 237510 50578 Phillip Roemer MD 60.0 X 324254 6536 56068 James Schroeder MD 60.0 X 506901 163166 57122 20752615 7226379 2289470 708 true true false Ragnar Benson Construction 250 S Northwest Highway CHICAGO IL 60603 CONSTRUCTION SVCS 613310 Winston Strawn LLP 36235 Treasury Center CHICAGO IL 60694 LEGAL SERVICES 422074 Miramed Revenue Group 991 Oak Creek Drive CAROL STREAM IL 60148 COLLECTION SERVICES 356325 Pugh Jones Johnson Quant PC 180 N LaSalle CHICAGO IL 60601 LEGAL SERVICES 324597 McDermott Will Emery PO Box 2995 PITTSBURGH PA 60132 LEGAL SERVICES 311516 14 23521970 23521970 Patient service revenue 621110 487495326 487495326 Other revenue 621110 55710655 55710655 Rental income 532000 462661 462661 DIAGNOSTIC IMAGING - THIRD PARTIES 621110 2084000 2084000 545752642 1601867 33030 1568837 588 588 0 28975000 26651932 2323068 2323068 2323068 0 0 0 0 573200135 545752642 33030 3892493 46305861 46305861 0 0 0 18225787 15222046 3003741 273200 273200 246176575 229980263 16196312 19395224 18571363 823861 21583918 18930130 2653788 12522256 11206047 1316209 0 1771612 24041 1747571 320185 320185 0 0 85412 85412 26313940 22165749 4148191 232056 232056 6623711 4024806 2598905 5993991 1901673 4092318 0 15395322 13581687 1813635 1115227 1081219 34008 0 0 3894129 3861065 33064 0 9940877 6047826 3893051 178847 -248414 427260 Drugs and medical supplies 65895129 65892824 2305 Provision for bad debt 33030395 33030395 OTHER MISCELLANEOUS EXPENSES 1110758 768461 342297 536384412 492579098 43805313 0 21498868 29272085 47111557 72029938 10959762 19991661 57330036 57632970 56667 36667 2629836 3103894 2341640 2733213 5580558 5303957 156593087 85072855 72549883 71520232 74538759 81622929 111365 121062 84419811 106779489 379128742 450148097 49481304 57401351 20454267 24649883 73515428 71172698 1502815 1039689 65699041 79312777 210652855 233576398 X 146632808 185486522 21843079 31085177 168475887 216571699 379128742 450148097 X 36815723 11280089 X false true true X false X 9837617 10526767 15017151 14363797 23521970 73267302 408961347 465454273 501009070 536910335 545752642 2458087667 418798964 475981040 516026221 551274132 569274612 2531354969 2531354969 22183666 2082328 1203782 1763780 1569425 28802981 33030 33030 22183666 2082328 1203782 1763780 1602455 28836011 440982630 478063368 517230003 553037912 570877067 2560190980 0.98874 0.98670 0.01126 0.01330 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1314716 1314716 81064161 36828572 44235589 18530070 7350672 11179397 48476293 38664411 9811883 7207848 2229201 4978647 71520232 CFI ALL CAP FUND 9233245 F CFI Core Equity Fund 8193067 F CFI Global Bond Fund 1367801 F CFI High Quality Bond Fund 18467660 F CFI International Equity Fund 6825473 F CFI Real Return Fund 3151990 F SSGA GLOBAL NATURAL RESOURCE 1179452 F SSGA MSCI EMERGING MARKETS 8804469 F SSGA DOW JONES UBS COMMODITY 5240743 F SSG Diversifying Company A01 1598636 F SSG GLOBAL HEDGED EQUITY A01 2625114 F SSG RELATIVE VALUE EVENT A05 1567495 F SSG RELATIVE VALUE EVENT A20 16489 F SSG RELATIVE VALUE EVENT A34 2952098 F REALTY INVESTORS 243004 F GLOBAL DISTRESSED PARTNERS III 1583235 F DISTRESSED PARTNERS II 1023002 F VENTURE PARTNERS VII 937635 F VENTURE PARTNERS VIII 643257 F INTERNATIONAL PRIVATE EQUITY 1004461 F INTERNATIONAL PRIVATE EQUITY 492502 F PRIVATE EQUITY PARTNERS VI 839543 F PRIVATE EQUITY PARTNERS VII 400091 F NATURAL RESOURCES VI 2132847 F NATURAL RESOURCES VII 709150 F STATE ST. INSTITUTIONAL MKT FD 1230470 F ALTERNATIVE INVESTMENT VAL RES -840000 F 81622929 Trustee-held funds 9071276 Other accounts receivable 11975476 Deferred compensation program 7026004 Insurance program assets 78706733 106779489 0 DEFERRED COMP PROGRAM LIABILITIES 7254334 Insurance program liabilities 62707508 DEF RENT & LEASE INCENTIVE OBLIGATION 7465219 ACCOUNTS PAYABLE DUE TO NU 1885716 79312777 Central America and the Caribbean Investments CAPITAL CONTRIBUTIONS 9367609 Central America and the Caribbean Investments INVESTMENT BALANCES 11908595 Central America and the Caribbean Program Services INSURANCE 20449308 41725512 41725512 true false true false false false true NORTHWESTERN UNIVERSITY 333 E SUPERIOR ST Suite 1118 CHICAGO IL 60611 362167817 501(c)(3) 20043248 Provision for Research and Education Fund NORTHWESTERN UNIVERSITY 333 E SUPERIOR ST CHICAGO IL 60611 362167817 501(c)(3) 25731143 Research and academic program support MCGAW MEDICAL CENTER OF NORTHWESTERN UNIVERSITY 420 E SUPERIOR ST CHICAGO IL 60611 362656113 501(c)(3) 531471 General medical education support 2 0 Form 990, Schedule I Description of Organization's Procedures for Monitoring the Use of Grants THE FOUNDATION REQUIRES NORTHWESTERN UNIVERSITY'S FEINBERG SCHOOL OF MEDICINE TO PROVIDE AN ANNUAL ACCOUNTING OF EXPENDITURES MADE AND ACTIVITIES SUPPORTED USING GRANTS AND CONTRIBUTIONS PROVIDED BY THE FOUNDATION (I.E., PROVISION FOR RESEARCH AND EDUCATION AND RESEARCH AND ACADEMIC PROGRAM SUPPORT AMOUNTS). GRANTS AND CONTRIBUTIONS MADE TO MCGAW MEDICAL CENTER ARE PAID ON THE BASIS OF PERIODIC INVOICES AND SUPPORT STIPENDS AND BENEFITS FOR MEDICAL RESIDENTS AND FELLOWS. X X X X X X true false true true false false false true true true Jeffrey Glassroth MD 493500 80097 325000 0 18005 0 29400 9000 2439 16670 868344 105767 0 0 James Larry Jameson MD 302500 734427 407503 0 17842 834 29400 15925 22478 1109 779722 752295 0 0 Howard Chrisman MD 417875 1558 106651 0 396 0 29400 156 7908 13 562230 1727 0 0 Eric Russell MD 549885 131250 200000 0 1901 805 29400 13037 22569 733 803754 145825 0 0 Robert Kern MD 404831 213436 170000 0 17275 552 29400 14800 20900 1002 642406 229790 0 0 Amy Paller MD 321522 129050 160000 0 17842 666 29400 13095 28392 234 557156 143045 0 0 Anthony Schaeffer MD 262671 307321 441442 0 20122 424 29400 15925 18567 1146 772203 324816 0 0 Bharat Mittal MD 541938 98963 110000 0 1332 0 29400 9896 25271 437 707941 109296 0 0 Michael Schafer MD 150565 364636 140733 0 19540 675 105801 15925 15848 1002 432487 382238 0 0 H Huntington Batjer MD 903832 125000 200756 0 18913 592 29400 12500 22746 682 1175647 138774 0 0 James Adams MD 221766 223650 110000 0 360 360 29400 15207 8458 909 369984 240126 0 0 John Kessler MD 241963 231469 216958 0 18401 464 29400 15586 25648 1087 532369 248606 0 0 Sharon Dooley MD 0 207511 0 0 0 17039 0 23361 0 10699 0 258610 0 0 Sherman Elias MD 157357 416243 100000 0 18322 539 29400 15925 22782 6099 327861 438806 0 0 Nathaniel Soper MD 530340 161160 100000 0 38557 929 29400 13829 22478 841 720775 176759 0 0 William Muller MD 149160 297440 140000 0 1315 0 29383 15942 26999 898 346857 314280 0 0 John Csernansky MD 108489 268403 85000 0 1238 834 22487 19381 19456 1109 236670 289727 0 0 Douglas Vaughan MD 384237 258924 125000 0 1290 834 29400 14388 24767 1043 564694 275189 0 0 Nicholas Volpe MD 115999 94805 0 0 162 120 14000 3750 1599 207 131760 98882 0 0 Marie Christine Stock MD 459068 1000 150000 0 921 0 29400 100 23317 6 662706 1106 0 0 Robert Sufit MD 139855 59195 30000 0 17322 300 22469 5919 7537 345 217182 65759 0 0 Gregory Dumanian MD 608667 33345 152000 0 450 0 29400 2001 26478 178 816995 35524 0 0 Robert Feder MD 234733 -410 40000 0 17554 0 29400 235 25163 13 346850 -162 0 0 James Chandler MD 541693 2623 243683 0 432 0 29400 262 8679 33 823887 2918 0 0 William Grobman MD 37541 231459 15000 0 300 240 7625 22407 21062 777 81528 254883 0 0 Kevin O'Leary MD 158199 31224 40000 0 596 11 25166 3122 21449 121 245410 34477 0 0 Judith Wolfman MD 324100 1000 48596 0 17828 0 29400 100 23941 7 443865 1107 0 0 David Mahvi MD 340216 103784 75000 0 23942 0 29400 10378 21671 65 490229 114227 0 0 Gary Martin 107323 196028 31745 0 1290 666 17408 19637 21360 956 179126 217287 0 0 Lewis Landsberg MD 53100 237369 0 0 5686 141 7200 24000 18473 905 84459 262415 0 0 Michael Abecassis MD 176504 629696 257719 0 17607 552 29400 15925 26478 1002 507708 647175 0 0 Simon Yoo MD 342266 3000 740621 0 170 0 29400 300 9090 15 1121547 3315 0 0 Steven Rosen MD 150868 962683 50000 0 1290 666 18856 20997 22746 1067 243760 985413 0 0 Murad Alam MD 345320 3000 834602 0 189 0 29400 180 8602 16 1218113 3196 0 0 Patrick McCarthy MD 1142933 187167 635000 0 18125 929 29400 14342 15857 936 1841315 203374 0 0 Lisa Anastos 441001 0 190000 0 270 0 24500 0 3132 0 658903 0 0 0 Brian Walsh 244083 0 75000 0 59484 0 24500 0 8784 0 411851 0 0 0 Danae Prousis 333453 0 175000 0 1188 0 24500 0 8000 0 542141 0 0 0 Carl Christensen 142221 0 0 0 173 0 14363 0 1407 0 158164 0 0 0 Phillip Roemer MD 240045 6209 83927 0 282 327 29400 654 25982 32 379636 7222 0 0 James Schroeder MD 143492 154375 56864 0 306545 8791 19500 16250 20536 836 546937 180252 0 0 Supplemental Compensation Information Schedule J, Part I, Line 4a DR. JAMES SCHROEDER RECEIVED SEVERANCE PAYMENTS TOTALING $288,755 FROM THE ORGANIZATION. Supplemental Compensation Information Schedule J, Part I, Line 4c DURING THE PERIOD FROM DECEMBER 31, 1999 TO NOVEMBER 30, 2001, THE FOUNDATION SPONSORED A NONQUALIFIED, DISCRETIONARY DEFERRED COMPENSATION PLAN FOR CERTAIN EMPLOYEES. THIS PLAN ALLOWED PARTICIPANTS TO FORGO CERTAIN COMPENSATION AMOUNTS IN FAVOR OF A TEN-YEAR DEFERRED COMPENSATION OPTION. UNDER TERMS OF THE PROGRAM, PARTICIPANTS DIRECT THE INVESTMENT OF THEIR COMPENSATION DEFERRALS PLUS A 33% MATCHING AMOUNT PROVIDED BY THE FOUNDATION. PARTICIPANTS ARE ENTITLED TO THE CUMULATIVE NET EARNINGS REALIZED THROUGH INVESTMENT OF THESE FUNDS DURING THE OPTION PERIOD. TO RECEIVE PROCEEDS UNDER THE ARRANGEMENT, PARTICIPANTS MUST PAY AN EXERCISE PRICE EQUAL TO THE 33% MATCHING AMOUNT CONTRIBUTED BY THE FOUNDATION. THE FOLLOWING PARTICIPANTS RECEIVED PAYMENTS UNDER THE PROGRAM DURING THE REPORTING PERIOD: -H Huntington Batjer.....$100,756 -James Larry Jameson.....$107,503 -John Kessler.............$21,958 -Anthony Schaeffer.......$221,442 -Michael Schafer..........$15,733 THESE PAYMENTS ARE INCLUDED WITHIN COMPENSATION SHOWN IN SCHEDULE J, PART II. Supplemental Compensation Information Schedule J, Part I, Line 5a A LIMITED NUMBER OF PHYSICIANS EMPLOYED BY THE FOUNDATION RECEIVE COMPENSATION IN PART BASED UPON REVENUES GENERATED BY THEIR PERSONALLY PROVIDED CLINICAL SERVICES. Supplemental Compensation Information Schedule J, Part I, Line 7 THE COMPENSATION COMMITTEE MAKES DECISIONS ON CERTAIN NON-FIXED PAYMENTS SUCH AS INCENTIVE COMPENSATION. SEE SCHEDULE O FOR A DETAILED DESCRIPTION OF THE COMPENSATION COMMITTEE PROCESS. Supplemental Compensation Information Schedule J, Part I, Line 8 SIX PHYSICIANS WHOSE COMPENSATION IS REPORTED IN FORM 990, PART VII RECEIVED COMPENSATION PURSUANT TO TERMS THAT WERE FIXED IN CONTRACTS EXECUTED AT THE TIME OF THEIR RECRUITMENT TO THE FOUNDATION OR THEIR PROMOTION TO POSITIONS AS DISQUALIFIED OR POTENTIALLY DISQUALIFIED PERSONS. IN EACH CASE, THE FOUNDATION FOLLOWED THE REBUTTABLE PRESUMPTION PROCEDURE DESCRIBED IN REGULATIONS SECTION 53.4958-6(C) IN APPROVING THEIR COMPENSATION. DAVID MAHVI RECRUITMENT X 100000 36667 false false true 36667 Loan to Director Prior to His Directorship Schedule L, Part II DR. DAVID MAHVI'S RECRUITMENT AGREEMENT WITH NORTHWESTERN MEDICAL FACULTY FOUNDATION INCLUDES A LOAN. DR. MAHVI IS A MEMBER OF THE BOARD OF DIRECTORS AND AN EMPLOYED PHYSICIAN. THIS ARRANGEMENT WAS PART OF A RECRUITMENT PACKAGE MADE IN ACCORDANCE WITH FOUNDATION'S COMPENSATION COMMITTEE POLICIES AND PROCEDURES, AND WAS EXECUTED BEFORE THE PHYSICIAN WAS APPOINTED AS A DIRECTOR. Supplemental Information FORM 990, PART V, LINE 2A THE AMOUNT DISCLOSED REFLECTS THE NUMBER OF W-2'S ISSUED BY NORTHWESTERN MEDICAL FACULTY FOUNDATION DIRECTLY, AS WELL AS THOSE ISSUED BY NORTHWESTERN UNIVERSITY TO JOINT EMPLOYEES WHO ARE PAID THROUGH A COMMON PAYMASTER. DELEGATION OF MANAGEMENT DUTIES FORM 990, PART VI, LINE 3 EFFECTIVE AUGUST 29, 2011, THE FOUNDATION RETAINED NORMAN A. BOTSFORD TO PROVIDE SERVICES AS THE INTERIM SENIOR VICE PRESIDENT AND CHIEF OPERATING OFFICER UNDER TERMS OF AN INDEPENDENT CONTRACTOR CONSULTANCY AGREEMENT BETWEEN THE FOUNDATION AND NORMAN A. BOTSFORD, LLC. DESCRIBE THE SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS FORM 990, PART VI, LINE 4 THE BYLAWS OF THE FOUNDATION WERE AMENDED EFFECTIVE DECEMBER 10, 2010 BY VOTE OF THE FOUNDATION MEMBERS. THE AMENDMENTS TO THE BYLAWS INCORPORATE CHANGES IN THE ILLINOIS NOT-FOR-PROFIT ACT RELATING TO ELECTRONIC PARTICIPATION IN MEMBER AND BOARD MEETINGS AND TIMING OF NOTICES FOR BOARD MEETINGS. ADDITIONALLY, THE BYLAWS WERE UPDATED TO INCLUDE THE FOLLOWING: 1) PERMITTING THE BOARD, FOR EXCEPTIONAL CIRCUMSTANCES, TO APPOINT AN INDEPENDENT DIRECTOR TO SERVE ONE OR MORE TERMS BEYOND THREE THREE-YEAR TERMS; 2) REVISING MEMBERSHIP OF THE EXECUTIVE COMMITTEE; 3) FORMALLY SETTING FORTH THE CHARTERS AND COMPOSITION OF THE COMPENSATION COMMITTEE AND THE COMPLIANCE AND AUDIT COMMITTEE. describes the class(es) of membERS OR STOCKHOLDERS FORM 990, PART VI, LINE 6 The Foundation is organized under the Illinois General Not For Profit Corporation Act and has members who are faculty members of the Northwestern University Feinberg School of Medicine. DESCRIPTION OF CLASSES OF PERSONS AND THE NATURE OF THEIR RIGHTS FORM 990, PART VI, LINE 7A Under the Foundations Bylaws, Members of the Foundation have the right to elect at-Large Directors of the Board at the annual meeting of the Members. DESCR CLASSES OF PERSONS, DECISIONS REQUIRING APPR & TYPE OF VOTING RIGHTS FORM 990, PART VI, LINE 7B Under the Foundations Bylaws, Members of the Foundation have the right to vote to amend or repeal the Bylaws and to alter the amount of the contributions to the Deans Education-Research Fund of the Feinberg School of Medicine. DESCRIBE THE PROCESS USED BY MANAGEMENT &/OR GOVERNING BODY TO REVIEW 990 FORM 990, PART VI, LINE 11 THE FOUNDATION'S BOARD OF DIRECTORS, THROUGH A POLICY ADOPTED BY THE BOARD, HAS DELEGATED TO THE COMPLIANCE AND AUDIT COMMITTEE RESPONSIBILITY FOR REVIEWING FORM 990 PRIOR TO FILING WITH THE IRS. THE COMPLIANCE AND AUDIT COMMITTEE RECEIVED FORM 990 (INCLUDING REQUIRED SCHEDULES) ON JULY 6, 2012, AND MET WITH MANAGEMENT ON JULY 11, 2012 TO REVIEW AND DISCUSS FORM 990 PRIOR TO FILING. DESCRIPTION OF PROCESS TO MONITOR TRANSACTIONS FOR CONFLICT OF INTEREST FORM 990, PART VI, LINE 12C IN ACCORDANCE WITH ITS CONFLICT OF INTEREST POLICY, THE FOUNDATION CONDUCTS AN ANNUAL SURVEY OF INTERESTS OF THE MEMBERS OF THE BOARD OF DIRECTORS; MEMBERS OF BOARD COMMITTEES; OFFICERS; PHYSICIANS MEMBERS; PHYSICIAN CONSULTANTS; MANAGEMENT; THE INTERNAL AUDITOR; AND, THOSE INVOLVED IN PROCUREMENT ACTIVITIES. IN ADDITION TO COMPLETING THE ANNUAL SURVEY, INDIVIDUALS SUBJECT TO THE POLICY ARE REQUIRED TO UPDATE THEIR SURVEY RESPONSES THROUGHOUT THE YEAR. ALL ANNUAL RESPONSES ARE REVIEWED BY THE FOUNDATION'S GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER. ADDITIONALLY, THE FOUNDATION'S CLINICAL DEPARTMENT CHAIRMEN AND/OR DIVISION CHIEFS REVIEW THE ANNUAL SURVEY RESPONSES FOR THE PHYSICIANS IN THEIR DEPARTMENTS. FURTHER, THE COMPLIANCE AND AUDIT COMMITTEE REVIEWS THE ANNUAL SURVEY RESPONSES OF ALL MEMBERS OF THE BOARD OF DIRECTORS; MEMBERS OF BOARD COMMITTEES; OFFICERS; EXECUTIVE MANAGEMENT; AND, THE INTERNAL AUDITOR. THE COMPLIANCE AND AUDIT COMMITTEE ALSO RECEIVES AND REVIEWS A SUMMARY REPORT OF ANNUAL SURVEY RESPONSES FROM ALL OTHER RESPONDENTS. WHEN DEEMED NECESSARY AND APPROPRIATE, CONFLICT MANAGEMENT PLANS ARE DEVELOPED AND IMPLEMENTED FOR SELECT RESPONDENTS. THE FOUNDATION'S POLICY ALLOWS FOR PENALTIES FOR INDIVIDUALS REFUSING TO COOPERATE IN THE ANNUAL CONFLICT OF INTEREST SURVEY PROCESS. PROCESS FOR DETERMINING COMPENSATION FOR CEO, AND OTHER OFFICERS FORM 990, PART VI, LINE 15A & 15B THE COMPENSATION COMMITTEE OF THE NORTHWESTERN MEDICAL FACULTY FOUNDATION IS A COMMITTEE OF THE BOARD OF DIRECTORS WHOSE VOTING MEMBERS ARE ALL OUTSIDE DIRECTORS. THE COMMITTTEE OPERATES PURSUANT TO A COMPENSATION COMMITTEE CHARTER AND AN EXECUTIVE LEADERSHIP COMPENSATION PHILOSOPHY AND STRATEGY, BOTH APPROVED BY THE COMMITTEE AND THE BOARD OF DIRECTORS. THE CHARTER DELEGATES OVERSIGHT OF EXECUTIVE LEADERSHIP COMPENSATION TO THE COMMITTEE. THE COMMITTEE IS RESPONSIBLE FOR THE REVIEW AND APPROVAL OF ALL COMPENSATION AND BENEFITS PROVIDED BY THE FOUNDATION TO EXECUTIVES, PHYSICIANS WHO ARE "POTENTIALLY DISQUALIFIED PERSONS", AND OTHER PHYSICIAN EMPLOYEES WHO MEET CRITERIA ESTABLISHED BY THE COMMITTEE. THE COMMITTEE RECOGNIZES THE RESPONSIBILITY TO ENSURE THAT ITS EXECUTIVE LEADERSHIP COMPENSATION PROGRAM IS IN FULL COMPLIANCE WITH ALL APPLICABLE LAWS; THAT IT IS APPROPRIATE IN VIEW OF THE FOUNDATION'S PURPOSES, MISSION, AND TAX-EXEMPT STATUS; AND, THAT TOTAL COMPENSATION LEVELS ARE REASONABLE AND NOT EXCESSIVE. THE COMMITTEE, PRIOR TO MAKING COMPENSATION DECISIONS WITH RESPECT TO EXECUTIVE LEADERSHIP AND OTHER DISQUALIFIED PERSONS, OBTAINS AND RELIES UPON APPROPRIATE COMPARABILITY DATA TO SUPPORT ITS DECISION-MAKING PROCESS. THE COMMITTEE'S DECISION-MAKING PROCESS AND MEETINGS ARE THOROUGHLY DOCUMENTED IN OFFICIAL MINUTES ON A TIMELY BASIS. THE COMMITTEE ENGAGES OUTSIDE INDEPENDENT LEGAL COUNSEL AND OUTSIDE INDEPENDENT COMPENSATION CONSULTANTS TO ASSIST THE COMMITTEE IN ITS DECISION-MAKING PROCESS. NO MEMBER OF THE COMMITTEE HAS ANY CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENTS COMING BEFORE THE COMMITTEE. AVAIL OF GOV DOCS, CONFLICT OF INTEREST POLICY, & FIN STMTS TO GEN PUBLIC FORM 990, PART VI, LINE 19 THE FOUNDATION MAKES AVAILABLE TO THE PUBLIC BOTH THE CONFLICT OF INTEREST POLICY AND PHYSICIAN RESPONSES TO THE ANNUAL CONFLICT OF INTEREST SURVEY. IN ACCORDANCE WITH LAW, THE FOUNDATION MAKES AVAILABLE ITS FORM 990 AND FORM 990-T TO THE PUBLIC. OTHER GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE NOT MADE DIRECTLY AVAILABLE TO THE GENERAL PUBLIC. THE DOCUMENTS, HOWEVER, MAY BE AVAILABLE THROUGH GOVERNMENT AGENCIES THAT REGULATE THE FOUNDATION. ADDITONALLY, UNDER TERMS OF A CONTINUING DISCLOSURE AGREEMENT RELATING TO THE SERIES 1998 REVENUE REFUNDING BONDS (BONDS), THE FOUNDATION FILES ITS AUDITED FINANCIAL STATEMENTS AND CERTAIN OTHER FINANCIAL AND OPERATING DATA WITH THE MUNICIPAL SECURITIES RULEMAKING BOARD (MSRB). SUCH STATEMENTS AND INFORMATION ARE AVAILABLE TO THE GENERAL PUBLIC THROUGH AN ONLINE APPLICATION SPONSORED BY THE MSRB. ADDITIONALLY, UNDER TERMS OF A MASTER TRUST INDENTURE, THE FOUNDATION PROVIDES ITS UNAUDITED QUARTERLY FINANCIAL INFORMATION TO THE INSURER OF THE BONDS, CERTAIN RATING AGENCIES, AND SELECT OTHER INTEREST PARTIES. HOURS WORKED FOR RELATED ORGANIZATIONS FORM 990, PART VII, SECTION A THE TOTAL 60 HOURS REPORTED AS WORKED INCLUDES HOURS WORKED FOR BOTH THE FOUNDATION AND RELATED ORGANIZATIONS. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED GAINS ON TRADING SECURITIES - $2,907,575 EARNINGS ON ALTERNATIVE INVESTMENTS - $1,026,515 EARNINGS ON INSURANCE PROGRAM ASSETS - $7,346,000 Northwestern University as related organization SCHEDULE R NORTHWESTERN UNIVERSITY IS INCLUDED AS A "RELATED ORGANIZATION" BECAUSE UNDER THE CURRENT BYLAWS OF NORTHWESTERN MEDICAL FACULTY FOUNDATION, THE FOUNDATION'S CLINICAL DEPARTMENT CHAIRMEN COMPRISE A MAJORITY OF THE MEMBERS OF THE FOUNDATION'S BOARD OF DIRECTORS. THESE INDIVIDUALS ARE ALSO EMPLOYED AS CHAIRMEN OF THE CORRESPONDING ACADEMIC DEPARTMENTS WITHIN THE FEINBERG SCHOOL OF MEDICINE OF NORTHWESTERN UNIVERSITY. HOWEVER, THE TWO ORGANIZATIONS DO NOT STAND IN THE ROLES OF PARENT AND SUBSIDIARY. THEY ARE SEPARATE LEGAL ENTITIES, AND NORTHWESTERN MEDICAL FACULTY FOUNDATION IS NOT SUBJECT TO CONTROL BY NORTHWESTERN UNIVERSITY OR VICE-VERSA. NORTHWESTERN UNIVERSITY FEINBERG SCHOOL 420 East Superior Street Chicago IL 60611 362167817 EDUCATION IL 501(C)(3) 2 NA NORTHWESTERN FDN FOR RESEARCH &EDUCATION 680 N LAKE SHORE DRIVE CHICAGO IL 60611 364093385 SUPPORT ORG IL 501 (C)(3) 11,TYPE I NA NORTHWESTERNROSIN EYECARE LLC 6233 CERMAK RD BERWYN IL 60402 362028676 EYEWEAR SALES IL NA RELATED 30470 122185 false 0 true 0.70000 true true true false false false false false false true true true false true true true false false NORTHWESTERNROSIN EYECARE LLC A(IV) 65000