ALUMNI ASSOCIATION OF THE LAHEY CLINIC FOUNDATION INC

EIN: 042573620 501(c)(3) Education

CHARLESTOWN, MA

Total Revenue
$69,426
Total Expenses
$35,098
Total Assets
$1,347,782
Net Assets
$1,347,782
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
MA
Principal Officer
DAVID BRABECK MD
Phone
6176677345
Tax Period
2023-01-01 to 2023-12-31

ALUMNI ASSOCIATION OF THE LAHEY CLINIC FOUNDATION INC, founded in 1968, is a micro nonprofit in the Education sector that reported $69K in total revenue in fiscal year 2023. Revenue surged 35% from the prior year, signaling strong growth momentum. The organization ran a surplus of $34K, a strong 49% operating margin.

Mission

THE ALUMNI ASSOCIATION PROVIDES SUPPORT TO THE LAHEY CLINIC HOSPITAL TO ENABLE RESIDENTS TRAINING AT LCH TO ATTEND AND/OR PRESENT AT MEDICAL SEMINARS AND CONFERENCES. THE ASSOCIATION ALSO PROVIDES LOCAL ON SITE EDUCATIONAL OPPORTUNITIES BY BRINGING SPECIALISTS TO LCH. FINALLY, THE ASSOCIATION ALSO PROVIDES FUNDING FOR CHARITABLE PROGRAMS AND MATERIALS FOR THE LCH LIBRARY.

Program Service Accomplishments

Program 1
Expenses: $35,098

THE ALUMNI ASSOCIATION PROVIDES SUPPORT TO THE LAHEY CLINIC HOSPITAL TO ENABLE RESIDENTS TRAINING AT LCH TO ATTEND AND/OR PRESENT AT MEDICAL SEMINARS AND CONFERENCES. THE ASSOCIATION ALSO PROVIDES...

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THE ALUMNI ASSOCIATION PROVIDES SUPPORT TO THE LAHEY CLINIC HOSPITAL TO ENABLE RESIDENTS TRAINING AT LCH TO ATTEND AND/OR PRESENT AT MEDICAL SEMINARS AND CONFERENCES. THE ASSOCIATION ALSO PROVIDES LOCAL ON SITE EDUCATIONAL OPPORTUNITIES BY BRINGING SPECIALISTS TO LCH. FINALLY, THE ASSOCIATION ALSO PROVIDES FUNDING FOR CHARITABLE PROGRAMS AND MATERIALS FOR THE LCH LIBRARY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $25,411
Program Service Revenue $0
Investment Income $44,015
Other Revenue $0
TOTAL REVENUE $69,426

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $35,098
Other Expenses $35,098
TOTAL EXPENSES $35,098

Year-over-Year Comparison

2023 2022 Change
Revenue $69,426 $51,607 +0.3%
Expenses $35,098 $42,216 -0.2%
Net Income $34,328 $9,391 +2.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
5
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$392,298
Total Directors
17
$6,138,248
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WOZNIAK PA JOANNE DIRECTOR (START 11.20.23) 1.00
Director
$0 $3,483 $221,005
BRABECK MD DAVID DIRECTOR & EXEC DIRECTOR 1.00
Officer Director
$0 $42,238 $392,298
BRAMS MD DAVID M DIRECTOR 1.00
Director
$0 $45,461 $673,334
COLLER MD JOHN A DIRECTOR & VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
CONNELL MD BRENDAN DIRECTOR 1.00
Director
$0 $17,975 $460,237
MANDEL MD BURTON DIRECTOR & PRESIDENT 1.00
Officer Director
$0 $0 $0
MANDEVILLE MD JESSICA A DIRECTOR 1.00
Director
$0 $18,070 $465,460
MOURTZINOS MD MBA ARTHUR DIRECTOR 1.00
Director
$0 $30,883 $833,305
NAPOLITANA MD GUY DIRECTOR 1.00
Director
$0 $36,972 $425,453
NEZHAD MD STEVEN F DIRECTOR 1.00
Director
$0 $41,334 $424,416
RICCIARDONE MD MARGUERITE M DIRECTOR 1.00
Director
$0 $40,003 $516,923
SCHOETZ JR MD DAVID J DIRECTOR 1.00
Director
$0 $0 $0
SORCINI MD ANDREA DIRECTOR 1.00
Director
$0 $8,262 $622,067
SILLIN MD LELAN DIRECTOR 1.00
Director
$0 $0 $4,565
STEMPEK PA SUSAN DIRECTOR (END 11.20.23) 1.00
Director
$0 $27,868 $429,108
WALD MD PHD MBA CHRISTOPH DIRECTOR 1.00
Director
$0 $43,373 $670,077
WEINER MD NEIL J DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $69,426 $35,098 $1,347,782 $34,328
2022 $51,607 $42,216 $1,082,981 $9,391
2021 $30,059 $21,425 $1,392,525 $8,634
2020 $34,908 $36,343 $1,117,628 $-1,435
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