MUSC HEALTH PARTNERS

EIN: 813987037 501(c)(3) Health Care

CHARLESTON, SC

Total Revenue
$14,478,265
Total Expenses
$14,477,022
Total Assets
$5,003,294
Net Assets
$328,871
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
SC
Principal Officer
EUGENE HONG
Phone
8438762420
Tax Period
2022-07-01 to 2023-06-30

MUSC HEALTH PARTNERS, founded in 2016, is a mid-sized nonprofit in the Health Care sector that reported $14.5M in total revenue in fiscal year 2022. Revenue surged 316% from the prior year, signaling strong growth momentum.

Mission

MUSC HEALTH PARTNERS(THE CORPORATION) IS A SOUTH CAROLINA NONPROFIT CORPORATION. THE CORPORATION WAS FORMED TO ADVANCE AND SUPPORT UNIVERSITY MEDICAL ASSOCIATES OF THE MEDICAL UNIVERSITY OF SOUTH CAROLINA (UMA), A SOUTH CAROLINA NONPROFIT CORPORATION WHICH IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.

Program Service Accomplishments

Program 1
Expenses: $14,477,022 Revenue: $14,478,265

OPERATES THE HEALTH CARE SYSTEM FACILITIES. UMA IS A PHYSICIAN PRACTICE FOR MUSC CLINICAL FACULTY THAT FACILITATES THE PROVISION OF INPATIENT AND OUTPATIENT SERVICES IN FURTHERANCE AND FOR THE...

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OPERATES THE HEALTH CARE SYSTEM FACILITIES. UMA IS A PHYSICIAN PRACTICE FOR MUSC CLINICAL FACULTY THAT FACILITATES THE PROVISION OF INPATIENT AND OUTPATIENT SERVICES IN FURTHERANCE AND FOR THE BENEFIT OF MUSC. THE MAIN MUSC CAMPUS IS LOCATED IN DOWNTOWN CHARLESTON, SOUTH CAROLINA, BUT EDUCATES AND SERVES INDIVIDUALS PRIMARILY THROUGHOUT THE STATE. THE CORPORATION FACILITATES THE DEPLOYMENT OF CLINICAL RESOURCES INTO COMMUNITIES OUTSIDE OF THE CHARLESTON MAIN CAMPUS OF THE HEALTH SYSTEM. THE CORPORATION ACCOMPLISHES THIS OBJECTIVE PRIMARILY THROUGH ITS OWNERSHIP AND MANAGEMENT OF CAROLINA PRIMARY CARE PHYSICIANS, LLC (CPCP), A SOUTH CAROLINA LIMITED LIABILITY COMPANY WHICH HAS ELECTED TO BE TAXED AS A CORPORATION. A COPY OF THE CPCP OPERATING AGREEMENT IS ATTACHED AS EXHIBIT 1. CPCP IS A MANAGER-MANAGED LIMITED LIABILITY COMPANY. THE CHIEF EXECUTIVE OFFICER OF THE CORPORATION AND THE CHIEF PHYSICIAN EXECUTIVE OF UMA ARE THE MANAGERS. THE CORPORATION IS THE SOLE MEMBER OF CPCP.CPCP EMPLOYS CLINICAL AND ADMINISTRATIVE STAFF. CPCP EMPLOYEES PROVIDE PROFESSIONAL SERVICES TO CAROLINA FAMILY CARE, INC.(CFC), A SOUTH CAROLINA CORPORATION. CFC OPERATES APPROXIMATELY 66 MEDICAL CLINICS LOCATED IN CHARLESTON, FLORENCE, AND LANCASTER SOUTH CAROLINA. CFC IS OWNED BY UMA. THE CORPORATION PROVIDES MANAGEMENT SERVICES TO CPCP. THE CORPORATIONS OWNERSHIP AND MANAGEMENT OF CPCP AND CPCPS EMPLOYMENT OF PHYSICIANS AND STAFF ALLOWS PHYSICIANS TO BE EMPLOYED ON TERMS AND CONDITIONS THAT WOULD NOT OTHERWISE BE AVAILABLE IF THE PHYSICIANS ANDSTAFF WERE EMPLOYED DIRECTLY BY UMA. THE FLEXIBILITY TO OFFER DIFFERING TERMS AND CONDITIONS OF EMPLOYMENT FACILITATES THE ABILITY OF UMA AND CFC TO PROVIDE COMMUNITY MEDICAL SERVICES IN A COST-EFFECTIVE MANNER THAT IS NOT BURDENED BY THE REQUIREMENTS APPLICABLE TO AN ACADEMICHEALTH SYSTEM. CFC CONTRACTS WITH THE CORPORATION TO PROVIDE MANAGEMENT SERVICES. THE CORPORATION IN TURN SUBCONTRACTS WITH UMA AND, IN SOME INSTANCES, MUHA TO PROVIDE A PORTION OF THE MANAGEMENT SERVICES. IN ADDITION TO THE FORGOING, THE CORPORATION PROVIDES PROFESSIONAL SERVICES BY AND THROUGH EMPLOYED PHYSICIANS. PROFESSIONAL SERVICES ARE PROVIDED TO GEORGETOWN RADIATION THERAPY CENTER, A JOINT VENTURE OWNED BY GEORGETOWN HOSPITAL SYSTEM AND UMA, AND TIDELANDS NEUROSCIENCES, A NEUROSURGERY PRACTICE IN THE GEORGETOWN COUNTY AREA DEVELOPED BY THECORPORATION, GEORGETOWN HOSPITAL SYSTEM, AND WACCAMAW COMMUNITY HOSPITAL.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $3,889,954
Investment Income $0
Other Revenue $10,588,311
TOTAL REVENUE $14,478,265

Expense Breakdown

Grants Paid $0
Salaries & Benefits $14,324,012
Fundraising Expenses $0
Program Expenses $14,477,022
Other Expenses $153,010
TOTAL EXPENSES $14,477,022

Year-over-Year Comparison

2022 2021 Change
Revenue $14,478,265 $3,484,423 +3.2%
Expenses $14,477,022 $3,401,312 +3.3%
Net Income $1,243 $83,111 -1.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
2
Employees
53
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
4
$3,124,463
Total Directors
9
$4,718,945
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATT SEVERANCE CHIEF SYSTEM DEVELOPMENT OFFICER 1.00
Officer Director
$0 $41,214 $932,564
GENE HONG MD CEO 1.00
Officer Director
$0 $42,601 $786,942
ANDREW EISEMAN MD TREASURER 1.00
Officer Director
$0 $57,285 $692,284
JOHN MCDONALD MD DIRECTOR 1.00
Director
$0 $22,705 $292,813
GRAHAM ADAMS DIRECTOR 1.00
Director
$0 $0 $0
ANITA CASE DIRECTOR 1.00
Director
$0 $0 $0
DIANN KRYWKO MD DIRECTOR 1.00
Director
$0 $69,201 $612,193
JONATHAN EDWARDS MD DIRECTOR 1.00
Officer Director
$0 $75,201 $712,673
TERRENCE STEYER DEAN COLLEGE OF MEDICINE 1.00
Director
$0 $90,546 $689,476
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $14,478,265 $14,477,022 $5,003,294 $1,243
2022 $3,484,423 $3,401,312 $2,085,150 $83,111
2021 $4,424,727 $4,316,449 $1,610,302 $108,278
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