CIRCLE HEALTH PHYSICIANS INC

EIN: 273902914 501(c)(3) Health Care

LOWELL, MA

Total Revenue
$75,053,901
Total Expenses
$96,157,334
Total Assets
$31,343,553
Net Assets
$22,273,155
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
MA
Principal Officer
AMY HOEY
Phone
9789376000
Tax Period
2023-10-01 to 2024-09-30

CIRCLE HEALTH PHYSICIANS INC, founded in 2009, is a mid-sized nonprofit in the Health Care sector that reported $75.1M in total revenue in fiscal year 2023. Expenses of $96.2M exceeded revenue, resulting in a 28% operating deficit.

Mission

IT SHALL BE THE PURPOSE OF THE CORPORATION TO UNDERTAKE TO MONITOR AND COORDINATE THE ACTIVITIES OF THE HOSPITAL AND SUPPORTED ORGANIZATIONS; TO PROVIDE SUPPORT SERVICES AND INDIVIDUALS TO PROVIDE SUPPORT SERVICES TO THE HOSPITAL AND SUPPORTED ORGANIZATIONS; TO COORDINATE PHYSICIAN SERVICES TO THE HOSPITAL AND SUPPORTED ORGANIZATIONS; AND GENERALLY TO IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF THE HOSPITAL AND SUPPORTED ORGANIZATIONS THROUGH COORDINATED EFFORTS, IN ACHIEVING THEIR DIFFERENT INDIVIDUAL EXEMPT PURPOSES.

Program Service Accomplishments

Program 1
Expenses: $16,145,254 Revenue: $13,167,186

LGH MVC ASSOCIATES IS COMPRISED OF ELEVEN PHYSICIANS THAT PRACTICE CLINICAL CARDIOLOGY. MOST PHYSICIANS SPECIALIZE IN AREAS SUCH AS INTERVENTIONAL CARDIOLOGY, ELECTROPHYSIOLOGY, IMAGING TECHNIQUES...

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LGH MVC ASSOCIATES IS COMPRISED OF ELEVEN PHYSICIANS THAT PRACTICE CLINICAL CARDIOLOGY. MOST PHYSICIANS SPECIALIZE IN AREAS SUCH AS INTERVENTIONAL CARDIOLOGY, ELECTROPHYSIOLOGY, IMAGING TECHNIQUES SUCH AS NUCLEAR CARDIOLOGY, ECHO OR CT ANGIOGRAPHY IN ADDITION TO SPECIFIC ISSUES SUCH AS CORONARY DISEASE, CHOLESTEROL DISORDERS AND HEART FAILURE.

Program 2
Expenses: $38,277,969 Revenue: $30,837,065

LGH MEDICAL GROUP IS A GROUP OF PHYSICIAN PRACTICES WITH MERRIMACK FAMILY MEDICINE BEING THE LARGEST WITHIN THIS GROUP. MERRIMACK FAMILY MEDICINE IS AN INTEGRATED FAMILY PRACTICE WITH FIVE...

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LGH MEDICAL GROUP IS A GROUP OF PHYSICIAN PRACTICES WITH MERRIMACK FAMILY MEDICINE BEING THE LARGEST WITHIN THIS GROUP. MERRIMACK FAMILY MEDICINE IS AN INTEGRATED FAMILY PRACTICE WITH FIVE PHYSICIANS, THREE NURSE PRACTITIONERS, AND TWO PHYSICIAN ASSISTANTS OFFERING COMPREHENSIVE PRIMARY MEDICAL CARE, HEALTH SERVICES, AND INFORMATION TO ALL PATIENTS. OUR SERVICES INCLUDE GYNECOLOGY, OBSTETRICS, PEDIATRICS, AND ADULT MEDICINE.

Program 3
Expenses: $11,086,279 Revenue: $13,097,742

CIRCLE HEALTH URGENT CARE FACILITIES ARE LOCATED IN BILLERICA, DRACUT, TEWKSBURY AND WESTFORD MASSACHUSETTS. CIRCLE HEALTH'S URGENT CARE CENTERS PROVIDE WALK-IN, URGENT CARE FOR NON-LIFE THREATENING...

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CIRCLE HEALTH URGENT CARE FACILITIES ARE LOCATED IN BILLERICA, DRACUT, TEWKSBURY AND WESTFORD MASSACHUSETTS. CIRCLE HEALTH'S URGENT CARE CENTERS PROVIDE WALK-IN, URGENT CARE FOR NON-LIFE THREATENING CONDITIONS AND OTHER AILMENTS THAT REQUIRE PROMPT MEDICAL ATTENTION. THEY OFFER OCCUPATIONAL MEDICINE SERVICES AND TRAVEL MEDICINE FOR THOSE TRAVELING ABROAD. UNLIKE MANY OTHER URGENT CARE CLINICS, OUR URGENT CARE CENTERS ARE STAFFED WITH EXPERIENCED URGENT CARE PHYSICIANS FROM MERRIMACK VALLEY EMERGENCY ASSOCIATES WHO ARE AVAILABLE ONSITE DURING OPERATING HOURS. ALL LOCATIONS SERVE CHILDREN, ADOLESCENTS, ADULT AND OLDER ADULT PATIENTS WITH CONVENIENT, ACCESSIBLE CARE WITHOUT AN APPOINTMENT.

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Trantor Score

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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 $75,053,901
Investment Income $0
Other Revenue $0
TOTAL REVENUE $75,053,901

Expense Breakdown

Grants Paid $0
Salaries & Benefits $66,803,205
Fundraising Expenses $0
Program Expenses $88,450,019
Other Expenses $29,354,129
TOTAL EXPENSES $96,157,334

Year-over-Year Comparison

2023 2022 Change
Revenue $75,053,901 $71,900,029 +0.0%
Expenses $96,157,334 $87,593,673 +0.1%
Net Income $-21,103,433 $-15,693,644 +0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
1
Employees
N/A
Volunteers
186

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
4
$1,603,110
Total Directors
3
$933,698
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL DUBUQUE CLERK 1.00
Officer Director
$0 $0 $0
AMY HOEY PRESIDENT, EVP/COO 1.00
Officer Director
$0 $126,817 $933,698
ANDREW DEVOE TREASURER/CFO 1.00
Officer Director
$0 $0 $0
ZACHARY REDMOND ESQ SECRETARY 1.00
Officer
$0 $70,149 $669,412
MICHAEL BERTOS PHYSICIAN 50.00
Highest
$1,034,639 $14,327 $1,048,966
LOUIS BRESNICK PHYSICIAN 50.00
Highest
$1,007,060 $20,284 $1,027,344
OMAR ALI PHYSICIAN 50.00
Highest
$773,347 $29,123 $802,470
KIRK MACNAUGHT PHYSICIAN 50.00
Highest
$783,745 $15,133 $798,878
JAMES WATERS PHYSICIAN 50.00
Highest
$781,606 $24,539 $806,145
JOSEPH WHITE FMR. PRESIDENT/CEO (UNTIL 9/23) 0.00
$0 $23,483 $1,140,951
WILLIAM F WYMAN FMR SR VP OF OPS/TREAS/ASST CLERK 0.00
$0 $60,460 $559,650
SUSAN GREEN FMR. SR. VP & CFO & TREAS. 0.00
$0 $38,808 $1,085,892
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 $75,053,901 $96,157,334 $31,343,553 $-21,103,433
2023 $71,900,029 $87,593,673 $24,975,751 $-15,693,644
2022 $68,600,363 $80,006,807 $22,386,321 $-11,406,444
2021 $78,082,073 $83,922,409 $24,693,078 $-5,840,336
2020 $62,760,734 $68,820,965 $26,412,271 $-6,060,231
2019 $49,416,984 $61,590,621 $12,464,968 $-12,173,637
2018 $45,939,997 $54,848,827 $12,738,532 $-8,908,830
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