MILFORD REGIONAL PHYSICIAN GROUP INC

EIN: 043159969 501(c)(3) Health Care

Milford, MA

Total Revenue
$117,778,319
Total Expenses
$127,778,817
Total Assets
$68,077,135
Net Assets
$3,169,379
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Organization Details

Formation Year
1992
Legal Domicile
MA
Principal Officer
Elizabeth Cadle
Phone
5084731480
Tax Period
2023-10-01 to 2024-09-30

MILFORD REGIONAL PHYSICIAN GROUP INC, founded in 1992, is a major nonprofit in the Health Care sector that reported $117.8M in total revenue in fiscal year 2023.

Mission

Our primary mission at Milford Regional Healthcare System, which includes Milford Regional Medical Center and Milford Regional Physician Group, is to provide exceptional healthcare services to all individuals in our community with dignity, compassion and respect.

Program Service Accomplishments

Program 1
Expenses: $42,816,374 Revenue: $43,619,718

Milford Regional Physicians Group has 16 primary care offices servicing the 20 communities of Central Massachusetts. Guided by its mission "to provide quality healthcare services to our community...

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Milford Regional Physicians Group has 16 primary care offices servicing the 20 communities of Central Massachusetts. Guided by its mission "to provide quality healthcare services to our community with dignity, compassion, and respect", MRPG strives to be responsive to diverse constituencies, individuals and families of all ages, employees and employers of large and small business, physicians and other healthcare providers. As a charitable organization, we acknowledge out special concern for the need of the unserved and the undeserved, especially the poor and the minority populations. Our 49 primary care doctors concentrate in the three following disciplines: Internal Medicine, Family Medicine and Pediatrics. Patients of MRPG visited our primary care offices approximately 162,934 times in 2024. These primary care providers work in collaboration with specialists and the hospital in our service area using a team approach to provide the best health care possible for the member of our community. The availability of quality primary care is a priority to our organization, support the mission of Milford Regional Physician Group, Inc., and strengthens its ability to reach important strategic goals related to primary care.

Program 2
Expenses: $55,813,716 Revenue: $47,875,537

Milford Regional Physicians Group has 21 specialist groups servicing the 20 communities of Central Massachusetts. The group of 48 specialists includes pulmonary and critical care, rheumatology...

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Milford Regional Physicians Group has 21 specialist groups servicing the 20 communities of Central Massachusetts. The group of 48 specialists includes pulmonary and critical care, rheumatology, urology, obstetrics and gynecology, endocrinology, sleep medicine, ear nose & throat, and more. Our Lung Allergy & Sleep Pulmonary & Critical Care specialists have expertise in a range of respiratory conditions including but not limited to: lung cancer diagnosis and treatment; chronic obstructive lung diseases including asthma; pulmonary vascular disease including pulmonary hypertension; respiratory failure; and lung infections. Our Rheumatologist specializes in the diagnosis and treatment of arthritis and other diseases of the muscles, joints and bones. Our Urologists perform the evaluation and treatment of diseases of the male and female urinary tract. Our Obstetrics & Gynecology providers manage pregnancy, labor and childbirth, as well as the diagnosis and treatment of diseases of the female reproductive system. Our Endocrinologist specializes in diagnosing and treating diseases that affect the endocrine system. In addition, we work closely with the diabetes program at Milford Regional Medical Center to provide a range of services to help optimize diabetes management. Our Sleep Center conducts polysomnograms to diagnose various sleep disorders, the most common of which is Obstructive Sleep Apnea. Our Ear, Nose and Throat specialists are trained in the medical and surgical treatment of the ears, nose, throat and related structures of the head and neck. Our Cardiologists specialize in the diagnosis and treatment of cardiac disorders such as arrhythmia, hypertension, congestive heart failure, coronary artery disease, and heart attack. Our Orthopedists evaluate and treat conditions of the musculoskeletal system, extremities, joints, muscles, tendons and ligaments.

Program 3
Expenses: $14,028,155 Revenue: $13,303,341

Milford Regional Physicians Group has an active hospitalists program that serves the inpatients at Milford Regional Medical Center. Our 26 hospitalists work in collaboration with our primary care...

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Milford Regional Physicians Group has an active hospitalists program that serves the inpatients at Milford Regional Medical Center. Our 26 hospitalists work in collaboration with our primary care physicians to provide well coordinated care to our patients while they are hospitalized. The hospitalists can also make on-the-spot decisions about patient care, follow up on test results and modify treatment plans immediately, if necessary. They provide continuity of care, answer questions and provide emotional support to patients and their families.

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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 $0
Program Service Revenue $117,780,463
Investment Income $-2,144
Other Revenue $0
TOTAL REVENUE $117,778,319

Expense Breakdown

Grants Paid $0
Salaries & Benefits $95,107,080
Fundraising Expenses $0
Program Expenses $124,436,111
Other Expenses $32,671,737
TOTAL EXPENSES $127,778,817

Year-over-Year Comparison

2023 2022 Change
Revenue $117,778,319 $115,595,967 +0.0%
Expenses $127,778,817 $124,549,917 +0.0%
Net Income $-10,000,498 $-8,953,950 +0.1%
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
15
Independent Members
12
Employees
761
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
0
$0
Total Directors
15
$370,533
Key Employees
1
$701,773
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Patrick McSweeney President 50.00
Key Emp
$609,715 $92,058 $701,773
Susan Finnegan Barrett Physician 50
Highest
$574,853 $30,210 $665,063
Eddie Michli Physician 50
Highest
$614,623 $0 $662,895
Michael McCormick Physician 50
Highest
$603,859 $0 $656,293
Kathleen Richard Physican 50
Highest
$569,463 $0 $617,238
Christopher Baranano Physician 50
Highest
$574,906 $0 $616,099
Andrew Willment Trustee 50
Director
$352,597 $17,936 $370,533
Mary O'Neill Trustee 1
Director
$0 $0 $0
Sandra Clark Trustee 1
Director
$0 $0 $0
Anthony Consigli Chair 1
Director
$0 $0 $0
Jamie Doucette Trustee 1
Director
$0 $0 $0
Jeffrey Nutting Trustee 1
Director
$0 $0 $0
Denise Brookhouse Clerk 1
Director
$0 $0 $0
Shefali Desai Trustee 1
Director
$0 $0 $0
Gordon Lewis Treasurer 1
Director
$0 $0 $0
Linda Mancini Trustee 1
Director
$0 $0 $0
Gerald Gaudette Trustee 1
Director
$0 $0 $0
Barbara Gilmore Trustee 1
Director
$0 $0 $0
Brian Earley Vice Chair 1
Director
$0 $0 $0
Christopher Foley Trustee 1
Director
$0 $0 $0
John Fernandes Trustee 1
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 $117,778,319 $127,778,817 $68,077,135 $-10,000,498
2023 $115,595,967 $124,549,917 $52,796,572 $-8,953,950
2022 $105,396,139 $113,605,283 $54,147,726 $-8,209,144
2021 $98,396,869 $101,026,255 $55,077,326 $-2,629,386
2020 $78,222,591 $87,821,398 $17,634,545 $-9,598,807
2019 $72,938,228 $84,801,463 $16,753,397 $-11,863,235
2018 $65,521,979 $74,452,746 $11,679,653 $-8,930,767
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