Coastal Medical Physicians Inc Bro… - Form 990 Financial Data

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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

2020

Legal Domicile

Principal Officer

Edward McGookin MD

Phone

4014214000

Tax Period

2023-10-01 to 2024-09-30

Coastal Medical Physicians Inc Brown University Health Primary Care, founded in 2020, is a mid-sized nonprofit in the Health Care sector that reported $41.4M in total revenue in fiscal year 2023. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $91.0M exceeded revenue, resulting in a 120% operating deficit.

Mission

CMPI was organized to provide accountable patient-centered, high quality, efficient, value-based and innovative care to serve the health needs of the communities in Rhode Island and elsewhere. (see Schedule O)

Program Service Accomplishments

Program 1

Expenses: $55,617,496 Revenue: $40,354,379

Brown Health Medical Group Primary Care (BHMGPC) is a primary care driven practice serving 165,000 patients with a team of over 150 providers & clinicians located in 25 medical offices across Rhode Island. BHMGPC supports the three-part aim of better care, better health, and lower cost. BHMGPC is committed to providing outstanding care to its patients by offering 365-day access to sick visits, developing chronic care management programs for its sickest patients, and building care teams that support its providers in delivering high-quality care. BHMGPC fosters a culture of teamwork, innovation, and shared learning that inspires its employees to continuously improve the care provided and the services offered to patients. BHMGPC offers cardiology, pulmonology, behavioral health, and musculoskeletal health services. BHMGPC also provides laboratory services to BHMGPC patients and the community.

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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 (2023)

Revenue Breakdown

Contributions & Grants $612,790

Program Service Revenue $40,354,379

Investment Income $0

Other Revenue $435,954

TOTAL REVENUE $41,403,123

Expense Breakdown

Grants Paid $0

Salaries & Benefits $78,682,677

Fundraising Expenses $0

Program Expenses $55,617,496

Other Expenses $12,317,248

TOTAL EXPENSES $90,999,925

Year-over-Year Comparison

	2023	2022	Change
Revenue	$41,403,123	$76,308,215	-0.5%
Expenses	$90,999,925	$82,094,735	+0.1%
Net Income	$-49,596,802	$-5,786,520	+7.6%

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

884

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

$3,800,350

Total Directors

$3,623,944

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Timothy J Babineau	Fmr. Chair	0.00		$0	$1,336,292	$3,679,575
Peter K Markell	Treasurer	0.10	Officer	$0	$18,928	$1,212,570
Dean G Roye MD	Secretary	0.25	Officer Director	$0	$147,891	$998,340
Edward McGookin MD	President	40.00	Officer	$576,352	$122,683	$699,035
Alan G Kurose MD	Fmr. President	0.00		$593,347	$11,416	$604,763
Jeffrey T Gaines MD	Chairman	0.00	Officer Director	$0	$85,746	$528,465
Christopher Ferraro	CFO	40.00		$0	$40,510	$385,912
Matthew T Salisbury MD	Director	40.00	Director	$337,810	$43,747	$381,557
Liza Cantor MD	Physician	40.00		$330,279	$50,165	$380,444
John A Gaines MD	Physician	40.00		$337,818	$39,309	$377,127
Stephanie Maryeski	Physician	40.00		$335,427	$40,163	$375,590
Kristen B Hubbard MD	Director	40.00	Director	$341,818	$29,368	$371,186
David Kerzer DO	Physician	40.00		$327,680	$34,936	$362,616
Marjorie S Carges MD	Vice Chair	40.00	Officer Director	$323,681	$38,259	$361,940
Ryan Rossi MD	Physician	40.00		$331,396	$28,024	$359,420
Robert O Cicchelli MD	Director	40.00	Director	$294,025	$45,909	$339,934
Christina Mitchell MD	Director	40.00	Director	$234,401	$41,992	$276,393
Raymond P Zarlengo MD	Director	40.00	Director	$256,502	$17,048	$273,550
Anne Cushing-Brescia MD	Director	40.00	Director	$88,739	$3,840	$92,579

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	$41,403,123	$90,999,925	$25,768,532	$-49,596,802
2023	$76,308,215	$82,094,735	$30,503,726	$-5,786,520
2022	$81,399,867	$80,371,926	$29,745,787	$1,027,941
2021	$34,586,509	$33,052,102	$21,618,026	$1,534,407

Coastal Medical Physicians Inc Brown University Health Primary Care