GASTROINTESTINAL SPECIALISTS FOUNDATION INC

EIN: 352461541 501(c)(3) Health Care

MEMPHIS, TN

Total Revenue
$9,554,892
Total Expenses
$14,296,691
Total Assets
$2,175,705
Net Assets
$-27,046,362
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
TN
Principal Officer
PAUL S BIERMAN MD
Phone
9012273627
Tax Period
2023-10-01 to 2024-09-30

GASTROINTESTINAL SPECIALISTS FOUNDATION INC, founded in 2012, is a community nonprofit in the Health Care sector that reported $9.6M in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $14.3M exceeded revenue, resulting in a 50% operating deficit.

Mission

GASTROINTESTINAL SPECIALISTS FOUNDATION, INC. IS A COMPREHENSIVE GASTROINTESTINAL MEDICAL PRACTICE AND OUR MISSION IS TO PROVIDE EXCEPTIONAL, UNPARALLELED QUALITY CARE.

Program Service Accomplishments

Program 1
Expenses: $12,854,583 Revenue: $9,554,892

GASTROINTESTINAL SPECIALISTS FOUNDATION, INC. IS A COMPREHENSIVE GASTROINTESTINAL MEDICAL PRACTICE AND OUR MISSION IS TO PROVIDE EXCEPTIONAL, UNPARALLELED QUALITY CARE. OUR PROVIDERS ARE EXPERTS IN...

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GASTROINTESTINAL SPECIALISTS FOUNDATION, INC. IS A COMPREHENSIVE GASTROINTESTINAL MEDICAL PRACTICE AND OUR MISSION IS TO PROVIDE EXCEPTIONAL, UNPARALLELED QUALITY CARE. OUR PROVIDERS ARE EXPERTS IN HELPING PREVENT, DIAGNOSE AND TREAT EVERYTHING FROM HEATBURN, FOOD ALLERGIES AND HEMORRHOIDS, TO COLON AND PANCREATIC CANCERS. WE PERFORM PROCEDURES AT OUR FULLY EQUIPPED, STATE OF THE ART ENDOSCOPY CENTER WHICH IS OWNED AND OPERATED BY BAPTIST MEMORIAL HEALTH CARE CORPORATION. WE ALSO UTILIZE AMERICAN ESOTERIC LABORATORIES (AEL) CONVENIENTLY LOCATED IN OUR BUILDING AS A REFERENCE LAB. AS AN AFFILITATE OF BAPTIST MEMORIAL MEDICAL GROUP, INC., WE OFFER MEDICAL CARE THAT REFLECTS THE THREE-FOLD MINISTRY OF CHRIST-PREACHING, TEACHING AND HEALING. WE ARE ALSO VERY THANKFUL TO BE BLESSED WITH THE MANY RESOURCES PROVIDED BY BAPTIST MEMORIAL HEALTH CARE CORPORATION. OUR SIX GASTROENTEROLOGISTS, DR. PAUL S. BIERMAN, DR. KENNETH I. FIELDS, DR. EDWARD S. FRIEDMAN, DR. GAURAV KISTANGARI, DR. RANDELON D. SMITH, AND DR. ABDULLAH AL-RASHDAN, AND OUR PATHOLOGIST, DR. ANDRE THOMPSON ARE COMMITTED TO EDUCATION, TRAINING AND SUPPORT OF OTHER LOCAL HEALTH CARE PRACTITIONERS. THEY ATTEND A VARIETY OF SEMINARS, CONFERENCES AND OTHER EDUCATIONAL PROGRAMS IN ORDER TO INTERACT WITH COLLEAGUES AND STAY ABREAST OF NEW AND DEVELOPING TECHNOLOGIES. WE ARE ALSO FOCUSED ON A VARIETY OF QUALITY ASSURANCE INDICATORS INCLUDING BUT NOT LIMITED TO PRESS GANEY ASSOCIATES, LLC. WE HAVE OFFICE LOCATIONS IN MEMPHIS, TN, ARLINGTON, TN, COVINGTON, TN, COLLIERVILLE, TN, SOUTHAVEN, MS, AND MARION, AR, WHICH ALLOWS US TO EXPAND ACCESS TO CULTURALLY DIVERSE PATIENT POPULATIONS ACROSS THE GREATER MEMPHIS AREA. WE ALSO ACCEPT MOST HEALTH INSURANCE PROGRAMS INCLUDING TENNCARE AND MEDICAID, UNDERSTANDING THAT ALL PATIENTS DESERVE QUALITY CARE REGARDLESS OF THEIR ABILITY TO PAY. WE HAVE ALSO STRATEGICALLY POSITIONED OURSELVES FOR THE AFFORDABLE CARE ACT TO ENSURE THAT WE REACH PATIENTS WHO WERE PREVIOUSLY UNINSURED. ADDITIONALLY, WE PARTICIPATE IN SEVERAL OUTREACH PROGRAMS INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING: - PROVIDING HEALTH SERVICES TO THE VETERANS ADMINISTRATION. - PROVIDING HEALTH SERVICES TO LOCAL INMATES. - SUPPORT FOR THE CROHN'S AND COLITIS FOUNDATION. - COMMUNITY HEALTH FAIRS AND COMMUNITY AWARENESS PROGRAMS. - PROVIDING PHYSICIANS FOR SPEAKING ENGAGEMENTS PERTAINING TO GASTROINTESTINAL ISSUES AND OTHER HEALTH-RELATED SUBJECT MATTERS.

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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 $9,554,892
Investment Income $0
Other Revenue $0
TOTAL REVENUE $9,554,892

Expense Breakdown

Grants Paid $0
Salaries & Benefits $11,896,540
Fundraising Expenses $0
Program Expenses $12,854,583
Other Expenses $2,400,151
TOTAL EXPENSES $14,296,691

Year-over-Year Comparison

2023 2022 Change
Revenue $9,554,892 $7,828,401 +0.2%
Expenses $14,296,691 $11,522,683 +0.2%
Net Income $-4,741,799 $-3,694,282 +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
6
Independent Members
N/A
Employees
57
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
5
$5,827,704
Total Directors
6
$7,316,439
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENNETH FIELDS MD VICE PRESIDENT/DIRECTOR/PHYSICIAN 37.50
Officer Director
$1,407,126 $114,586 $1,615,342
PAUL S BIERMAN MD PRESIDENT/DIRECTOR/PHYSICIAN 38.42
Officer Director
$1,241,989 $120,763 $1,414,351
GARY C ANDERSON DIRECTOR 0.04
Director
$0 $88,606 $1,300,745
EDWARD S FRIEDMAN MD PHYSICIAN/DIRECTOR 36.23
Director
$1,023,615 $110,557 $1,239,344
MARK E SWANSON MD CEO/DIRECTOR 0.04
Officer Director
$0 $24,823 $1,220,645
JUSTIN RHODES DIRECTOR (AS OF 09/24) 0.04
Director
$0 $84,677 $526,012
GREGORY M DUCKETT SECRETARY 0.04
Officer
$0 $90,318 $1,346,501
ANDREW D JETER CFO 0.50
Officer
$0 $43,316 $230,865
RANDELON SMITH MD PHYSICIAN 37.25
Highest
$953,723 $116,676 $1,142,066
GAURAV KISTANGARI MD PHYSICIAN 35.50
Highest
$904,340 $54,223 $1,072,252
ABDULLAH AL-RASHDAN MD PHYSICIAN 40.00
Highest
$281,964 $65,072 $347,036
MICHAEL W SIMS CRNA 40.00
Highest
$211,018 $63,427 $274,445
JOSEPH FELTMAN CRNA 40.00
Highest
$216,908 $46,271 $263,179
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 $9,554,892 $14,296,691 $2,175,705 $-4,741,799
2023 $7,828,401 $11,522,683 $1,448,805 $-3,694,282
2022 $8,433,781 $11,369,809 $2,013,583 $-2,936,028
2021 $9,945,071 $11,820,447 $2,648,333 $-1,875,376
2020 $8,214,856 $11,426,172 $2,654,388 $-3,211,316
2019 $9,034,381 $11,034,388 $1,314,540 $-2,000,007
2018 $7,904,336 $10,534,742 $915,115 $-2,630,406
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