CHMC Anesthesia Foundation Inc

EIN: 042702169 501(c)(3) Diseases & Disorders

Boston, MA

Total Revenue
$159,785,556
Total Expenses
$152,531,963
Total Assets
$351,127,028
Net Assets
$226,712,963
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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
MA
Principal Officer
Joseph P Cravero MD
Phone
6173556457
Tax Period
2023-10-01 to 2024-09-30

CHMC Anesthesia Foundation Inc, founded in 1980, is a major nonprofit in the Diseases & Disorders sector that reported $159.8M in total revenue in fiscal year 2023. Expenses of $152.5M left a modest 5% surplus.

Mission

The Foundation operates the Department of Anesthesia at Boston Children's Hospital and in communities throughout greater Boston. The physicians and CRNAs of the Foundation provide anesthesia services to patients at the Hospital and perform anesthesia (see Schedule O) research activities as well as lectures and publish related articles. The Foundation also provides care for patients in need of anesthesiology services regardless of their ability to pay.

Program Service Accomplishments

Program 1
Expenses: $143,595,480 Revenue: $140,419,297

The CHMC Anesthesia Foundation, Inc. (the Foundation) provides anesthesia and intensive care services to the patients of Boston Children's Hospital and at satellite locations. The Foundation may...

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The CHMC Anesthesia Foundation, Inc. (the Foundation) provides anesthesia and intensive care services to the patients of Boston Children's Hospital and at satellite locations. The Foundation may charge for patient care and other medical services, where any net income generated is used exclusively for the charitable, scientific, and educational purposes for which the Foundation was created. The Foundation also provides care for patients in need of anesthesia and intensive care services, regardless of their ability to pay, as well as providing and supporting hospital and community based services that are either unavailable or limited elsewhere in the community.

Program 2
Expenses: $2,930,520 Revenue: $9,588,214

The Foundation receives income from Boston Children's Hospital (the Hospital) for providing administration services. The physicians employed by the Foundation perform medical research and teaching...

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The Foundation receives income from Boston Children's Hospital (the Hospital) for providing administration services. The physicians employed by the Foundation perform medical research and teaching activities, give lectures, publish related educational articles, and pioneer many developments in the field. All of these activities play a critical role in the treatment and recovery of patients at the Hospital and makes possible the surgical advances for which the Hospital is renowned.

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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 $402,000
Program Service Revenue $150,007,511
Investment Income $6,190,091
Other Revenue $3,185,954
TOTAL REVENUE $159,785,556

Expense Breakdown

Grants Paid $1,591,470
Salaries & Benefits $127,789,241
Fundraising Expenses $0
Program Expenses $146,526,000
Other Expenses $23,151,252
TOTAL EXPENSES $152,531,963

Year-over-Year Comparison

2023 2022 Change
Revenue $159,785,556 $161,222,696 0.0%
Expenses $152,531,963 $146,502,384 +0.0%
Net Income $7,253,593 $14,720,312 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
N/A
Employees
173
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
2
$2,287,759
Total Directors
13
$10,195,905
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Joseph P Cravero MD President/Treasurer 54.00
Officer Director
$1,106,301 $148,128 $1,254,429
Jeffrey Burns MD Director 59.00
Director
$898,070 $114,762 $1,012,832
John Fiadjoe MD Clerk 60.00
Officer Director
$886,147 $147,183 $1,033,330
Jue Wang MD Director 60.00
Director
$429,797 $124,147 $553,944
Anjali Koka MD Director 60.00
Director
$426,737 $138,666 $565,403
Kirsten C Odegard MD Director 60.00
Director
$751,922 $184,653 $936,575
Sally Vitali MD Director 60.00
Director
$563,301 $162,878 $726,179
Mary Landrigan-Ossar MD Director 60.00
Director
$632,096 $180,479 $812,575
Christine Greco MD Director 60.00
Director
$811,042 $177,867 $988,909
Michael L McManus MD Director 60.00
Director
$534,195 $114,762 $648,957
Cynthia Tung MD Director 60.00
Director
$496,933 $101,619 $598,552
Viviane G Nasr MD Director 60.00
Director
$686,649 $138,531 $825,180
Nina Deutsch MD Director 60.00
Director
$221,385 $17,655 $239,040
N/A Institutional Trustee 2.00
$0 $0 $0
Walid Alrayashi MD Physician 60.00
Highest
$758,769 $138,297 $897,066
Pete Kovatsis MD Physician 60.00
Highest
$795,120 $172,805 $967,925
Constance Houck MD Physician 60.00
Highest
$822,756 $114,762 $937,518
James Dinardo MD Physician 60.00
Highest
$891,295 $114,762 $1,006,057
Adrienne Randolph MD Physician 60.00
Highest
$885,897 $179,916 $1,065,813
Paul R Hickey MD Former Officer 36.00
$254,136 $90,350 $344,486
Sulpicio Soriano MD Former Officer 60.00
$721,920 $120,642 $842,562
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 $159,785,556 $152,531,963 $351,127,028 $7,253,593
2023 $161,222,696 $146,502,384 $310,453,118 $14,720,312
2022 $122,433,417 $127,164,607 $283,048,096 $-4,731,190
2022 $122,037,360 $127,003,746 $215,533,982 $-4,966,386
2021 $156,600,655 $132,784,752 $242,134,032 $23,815,903
2020 $109,016,130 $114,595,815 $198,916,474 $-5,579,685
2019 $122,408,253 $113,079,119 $246,822,839 $9,329,134
2018 $127,498,371 $110,612,347 $250,364,630 $16,886,024
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