PEDIATRIC SPECIALISTS OF VIRGINIA LLC

EIN: 461851763 501(c)(3) Health Care

FAIRFAX, VA

Total Revenue
$35,672,096
Total Expenses
$51,738,257
Total Assets
$42,999,402
Net Assets
$8,028,197
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
VA
Principal Officer
LAUREL BLAKEMORE MD
Phone
5714728123
Tax Period
2023-01-01 to 2023-12-31

PEDIATRIC SPECIALISTS OF VIRGINIA LLC, founded in 2013, is a mid-sized nonprofit in the Health Care sector that reported $35.7M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $51.7M exceeded revenue, resulting in a 45% operating deficit.

Mission

PEDIATRIC SPECIALISTS OF VIRGINIA'S (PSV) CHARITABLE MISSION IS TO MEET THE PEDIATRIC SPECIALIST STAFFING NEEDS OF INOVA AND CHILDREN'S NATIONAL MEDICAL CENTER (CNMC) AND TO PROVIDE PEDIATRIC SPECIALIST CONSULTS TO PEDIATRIC PATIENTS AS REQUESTED BY INOVA OR CNMC. ALSO TO EXPAND OUTPATIENT PEDIATRIC SPECIALIST SERVICES IN NORTHERN VIRGINIA THROUGH THE OPERATION OF AMBULATORY CARE SITES, AMONG OTHER VEHICLES.

Program Service Accomplishments

Program 1
Expenses: $45,733,880 Revenue: $34,315,684

PSV PROVIDES MEDICAL CARE AND RELATED SERVICES TO CHILDREN WHO SEEK DIAGNOSIS, TREATMENT, AND CARE WITHOUT REGARD TO RACE, COLOR, CREED, SEX, DISABILITY, NATIONAL ORIGIN, SEXUAL ORIENTATION, OR...

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PSV PROVIDES MEDICAL CARE AND RELATED SERVICES TO CHILDREN WHO SEEK DIAGNOSIS, TREATMENT, AND CARE WITHOUT REGARD TO RACE, COLOR, CREED, SEX, DISABILITY, NATIONAL ORIGIN, SEXUAL ORIENTATION, OR POVERTY STATUS. PSV'S PHYSICIANS AND ALLIED STAFF PROVIDE SERVICES IN THE FOLLOWING PEDIATRIC SPECIALTY AREAS: GASTROENTEROLOGY, ORTHOPEDICS, NEPHROLOGY, GENETICS, HEMATOLOGY/ONCOLOGY, ENDOCRINOLOGY, RHEUMATOLOGY, INFECTIOUS DISEASES, PSYCHOLOGY, NEUROLOGY, PSYCHIATRY, ALLERGY AND IMMUNOLOGY, DEVELOPMENTAL PEDIATRICS, NEUROSURGERY, PHYSICAL MEDICINE AND REHABILITATION, ADOLESCENT GYNECOLOGY, UROLOGY, PULMONARY MEDICINE, OTOLARYNGOLOGY, OPHTHALMOLOGY, AND PLASTIC SURGERY TO ALL PEDIATRIC PATIENTS ON A NON-DISCRIMINATORY BASIS. IN ADDITION, PSV OPERATES AN OUTPATIENT SURGERY CENTER AND PROVIDES PEDIATRIC ANESTHESIOLOGY SERVICES. PSV ENGAGES IN ACTIVITIES THAT EDUCATE THE COMMUNITY WITH RESPECT TO AREAS OF CRITICAL HEALTH CARE IMPORTANCE. THROUGH ITS AFFILIATION WITH INOVA AND CHILDREN'S NATIONAL MEDICAL CENTER, PSV PARTICIPATES IN HEALTH SCREENINGS, HEALTH FAIRS, AND HEALTH EDUCATION CLASSES MADE AVAILABLE TO ALL RESIDENTS IN THE COMMUNITY, WHETHER OR NOT THEY ARE PATIENTS OF PSV. PSV'S EMPLOYED PHYSICIANS ALSO PARTICIPATE IN ACADEMIC AND RESEARCH PROGRAMS. PSV PHYSICIANS SERVE AS FACULTY FOR AREA MEDICAL SCHOOLS, PARTICIPATING IN THE MEDICAL EDUCATION PROGRAMS OF THE AFFILIATED HOSPITALS AND INSTRUCTING STUDENTS. BY ENGAGING IN PATIENT CARE AND TEACHING ACTIVITIES AT THE MEMBERS' HOSPITALS, PSV PROMOTES THE HEALTH AND WELL BEING OF THE COMMUNITIES SERVED AND FOSTERS A DYNAMIC AND INTERACTIVE LEARNING ENVIRONMENT FOR FUTURE PHYSICIANS. PSV'S EMPLOYED PHYSICIANS AND ALLIED STAFF ALSO CONDUCT MEDICAL RESEARCH TO ADVANCE THE STUDY AND PRACTICE OF MEDICINE AND TO FIND CURES FOR DISEASES. RESULTS OF THE RESEARCH HAVE BEEN MADE AVAILABLE TO THE GENERAL PUBLIC. PSV'S PHYSICIANS PROVIDE SERVICES TO PATIENTS AT FIVE DISTINCT LOCATIONS IN NORTHERN VIRGINIA. BY PROVIDING HIGHLY-SPECIALIZED PEDIATRIC PHYSICIAN CARE TO ALL CHILDREN IN THE LARGE, DIVERSE, AND GROWING NORTHERN VIRGINIA COMMUNITY, PSV FULFILLS A VALUABLE COMMUNITY NEED. PSV HAS MADE AVAILABLE TO ALL CHILDREN, INCLUDING INDIGENT CHILDREN WHO REQUIRE MEDICAL CARE, THE SERVICES OF ITS PHYSICIANS AND OF ITS QUALIFIED HEALTH CARE PROFESSIONALS CONSISTENT WITH PSV'S POLICIES FOR PROVIDING NEEDED MEDICAL SERVICES TO PATIENTS REGARDLESS OF THEIR ABILITY TO PAY.

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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 $187,163
Program Service Revenue $34,315,684
Investment Income $1,169,249
Other Revenue $0
TOTAL REVENUE $35,672,096

Expense Breakdown

Grants Paid $187,317
Salaries & Benefits $35,927,315
Fundraising Expenses $4,832
Program Expenses $45,733,880
Other Expenses $15,623,625
TOTAL EXPENSES $51,738,257

Year-over-Year Comparison

2023 2022 Change
Revenue $35,672,096 $39,475,850 -0.1%
Expenses $51,738,257 $63,973,572 -0.2%
Net Income $-16,066,161 $-24,497,722 -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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Governance

Voting Members
7
Independent Members
6
Employees
442
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
$1,552,005
Total Directors
8
$743,371
Key Employees
3
$1,021,891
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOANNA FAZIO TRUSTEE 1.00
Director
$0 $0 $0
MICHELLE MCGUIRE END 91823 TRUSTEE 1.00
Director
$0 $0 $0
DAVID ASHMAN TRUSTEE 1.00
Director
$0 $0 $0
STEVE NARANG TRUSTEE 1.00
Director
$0 $0 $0
IAN LEIBOWITZ MD TRUSTEE 1.00
Director
$0 $0 $0
GEORGE GANTSOUDES BEG 1123 TRUSTEE, PHYSICIAN 40.00
Director
$694,741 $48,630 $743,371
MARC DIFAZIO MD CHAIRMAN 1.00
Director
$0 $0 $0
CYNTHIA GIBSON MD TRUSTEE 1.00
Director
$0 $0 $0
LAUREL BLAKEMORE MD CEO 40.00
Officer
$972,024 $26,658 $998,682
WILLIAM JUDD COO 40.00
Officer
$306,259 $18,473 $324,732
MARGARET HARRIS CHIEF FINANCIAL OFFICER 40.00
Officer
$213,295 $15,296 $228,591
THAN NGUYEN PHYSICIAN 40.00
Key Emp
$258,740 $23,417 $282,157
EMILY HATTWICK MEDICAL DIRECTOR 40.00
Key Emp
$378,346 $45,475 $423,821
THOMAS CHARLES NEWTON PHYSICIAN 40.00
Key Emp
$299,026 $16,887 $315,913
LAURA ELEANOR GILL-SEALY PHYSICIAN 40.00
Highest
$647,032 $45,780 $692,812
JOSEPH LETZELTER III PHYSICIAN 40.00
Highest
$586,877 $44,461 $631,338
MERYL LUDWIG PHYSICIAN 40.00
Highest
$440,785 $13,651 $454,436
EVAN SHEPPARD PHYSICIAN 40.00
Highest
$565,590 $1,911 $567,501
JOANNE DEKIS PHYSICIAN 40.00
Highest
$504,475 $25,229 $529,704
LEON MOORES MD PHYSICIAN, FORMER CEO 40.00
$368,467 $5,923 $374,390
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 $35,672,096 $51,738,257 $42,999,402 $-16,066,161
2022 $39,475,850 $63,973,572 $54,902,810 $-24,497,722
2021 $38,520,642 $59,561,181 $27,579,335 $-21,040,539
2020 $33,053,071 $54,926,554 $25,094,629 $-21,873,483
2019 $35,980,077 $56,338,233 $24,285,075 $-20,358,156
2018 $35,699,563 $55,660,273 $23,043,112 $-19,960,710
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