MCV Associated Physicians

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1991

Legal Domicile

Phone

8048278400

Tax Period

2022-07-01 to 2023-06-30

MCV Associated Physicians, founded in 1991, is a major nonprofit in the Health Care sector that reported $632.3M in total revenue in fiscal year 2022. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $731.7M exceeded revenue, resulting in a 16% operating deficit.

Mission

THE MISSION OF THE ORGANIZATION IS TO PROVIDE PHYSICIANS AND OTHER HEALTHCARE PROFESSIONALS TO SUPPORT THE NEEDS OF THE COMMUNITY, AS WELL AS THE ACADEMIC MISSION OF THE VCU SCHOOL OF MEDICINE.

Program Service Accomplishments

Program 1

Expenses: $704,384,097 Revenue: $585,483,106

MCV ASSOCIATED PHYSICIANS D/B/A MCV PHYSICIANS (MCVP) IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY (VCU), A TAX-EXEMPT ORGANIZATION AS DESCRIBED UNDER...

MCV ASSOCIATED PHYSICIANS D/B/A MCV PHYSICIANS (MCVP) IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY (VCU), A TAX-EXEMPT ORGANIZATION AS DESCRIBED UNDER INTERNAL REVENUE CODE (IRC) SECTION 170(C)(1). ON JULY 1, 2000, MCVP BECAME PART OF THE VCU HEALTH SYSTEM ALONG WITH THE MCV HOSPITAL AUTHORITY. MCVP SERVES AS THE ONLY BURN CENTER AND FULL RANGE CANCER CENTER IN THE AREA. IN SUPPORT OF THE MEDICAL SCHOOL, MCVP PROVIDES ESSENTIAL SERVICES TO AND WORKS CLOSELY WITH THE VCU HEALTH SYSTEM - MCV HOSPITAL; A DIVISION OF MCV/VCU AND AFFILIATED AMBULATORY CARE CENTERS.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $46,830,155

Program Service Revenue $585,483,106

Investment Income $2,759

Other Revenue $167

TOTAL REVENUE $632,316,187

Expense Breakdown

Grants Paid $16,939,121

Salaries & Benefits $529,038,859

Fundraising Expenses $0

Program Expenses $704,384,097

Other Expenses $185,722,038

TOTAL EXPENSES $731,700,018

Year-over-Year Comparison

	2022	2021	Change
Revenue	$632,316,187	$572,404,350	+0.1%
Expenses	$731,700,018	$696,730,850	+0.1%
Net Income	$-99,383,831	$-124,326,500	-0.2%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

3230

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

$1,249,032

Total Directors

$6,330,972

Key Employees

$1,229,262

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	TREAS / SEC /COO	60.0	Officer Director	$482,846	$40,291	$523,137
N/A	PRESIDENT/CHAIR (JUN)	64.0	Officer Director	$608,923	$65,522	$725,895
N/A	DIRECTOR (JUNE)	39.0	Director	$278,567	$85,222	$537,348
N/A	DIRECTOR	55.0	Director	$770,850	$65,493	$943,835
N/A	DIRECTOR	36.0	Director	$220,783	$26,864	$247,647
N/A	DIRECTOR	45.0	Director	$568,693	$75,126	$824,268
N/A	DIRECTOR	40.0	Director	$409,768	$41,150	$450,918
N/A	DIRECTOR	40.0	Director	$518,625	$78,661	$699,029
N/A	DIRECTOR	39.5	Director	$186,580	$49,012	$296,824
N/A	DIRECTOR	55.0	Director	$374,532	$69,611	$484,814
N/A	DIRECTOR	30.0	Director	$93,791	$79,841	$597,257
N/A	DEPT. CHAIR	43.0	Key Emp	$811,433	$105,160	$1,229,262
N/A	NEUROSURGEON	47.0	Highest	$1,000,168	$62,558	$1,102,717
N/A	Cardiologist	65.0	Highest	$931,667	$66,160	$1,076,546
N/A	General Surgeon	40.0	Highest	$1,019,721	$65,493	$1,100,929
N/A	Plastic Surgeon	60.0	Highest	$1,097,249	$46,621	$1,195,353
N/A	NEUROSURGEON	57.0	Highest	$911,802	$73,274	$1,034,509

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
2023	$632,316,187	$731,700,018	$1,741,033,119	$-99,383,831
2022	$572,404,350	$696,730,850	$913,688,645	$-124,326,500
2021	$539,983,630	$600,621,526	$296,921,285	$-60,637,896
2020	$528,318,709	$509,534,603	$240,909,782	$18,784,106
2019	$467,163,359	$475,770,274	$257,635,543	$-8,606,915
2018	$427,751,420	$457,532,921	$203,593,190	$-29,781,501