FACULTY PRACTICE FOUNDATION INC & AFFILIATES

EIN: 900513372 501(c)(3)

BOSTON, MA

Total Revenue
$138,261,106
Total Expenses
$145,600,548
Total Assets
$95,216,696
Net Assets
$61,646,757
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
MA
Principal Officer
WILLIAM R CREEVY MD
Phone
6176388000
Tax Period
2024-07-01 to 2024-09-30

FACULTY PRACTICE FOUNDATION INC & AFFILIATES, founded in 1994, is a major nonprofit that reported $138.3M in total revenue in fiscal year 2024. Revenue fell 74% from the prior year — a significant decline worth monitoring.

Mission

THE FACULTY PRACTICE PLANS ("THE PLANS") WERE ESTABLISHED AS NOT-FOR-PROFIT CORPORATIONS OPERATING EXCLUSIVELY FOR THE BENEFIT OF BOSTON MEDICAL CENTER AND BOSTON UNIVERSITY CHOBANIAN & AVEDISIAN SCHOOL OF MEDICINE. THE PLANS' PURPOSE IS TO PROVIDE, COORDINATE AND FACILITATE THE DELIVERY OF PATIENT CARE SERVICES AND TO PROMOTE THE DEVELOPMENT OF AN INTEGRATED SYSTEM OF DELIVERY TO MORE EFFICIENTLY AND EFFECTIVELY MEET THE HEALTH CARE NEEDS OF THE COMMUNITIES SERVED BY THE INSTITUTIONS. THE PLANS PROVIDE AMBULATORY SERVICES RANGING FROM PRIMARY ADULT AND PEDIATRIC CARE TO ADVANCED SPECIALTY CARE; AFFILIATED PHYSICIANS ALSO STAFF THE LARGEST 24 HOUR LEVEL 1 TRAUMA CENTER IN NEW ENGLAND.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $137,999,066
Investment Income $262,040
Other Revenue $0
TOTAL REVENUE $138,261,106

Expense Breakdown

Grants Paid $1,000,500
Salaries & Benefits $117,904,491
Fundraising Expenses $0
Program Expenses $120,298,565
Other Expenses $26,695,557
TOTAL EXPENSES $145,600,548

Year-over-Year Comparison

2024 2023 Change
Revenue $138,261,106 $535,490,887 -0.7%
Expenses $145,600,548 $542,670,652 -0.7%
Net Income $-7,339,442 $-7,179,765 +0.0%
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

Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
36
Independent Members
N/A
Employees
N/A
Volunteers
37

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
26
$0
Total Directors
37
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTOPHER ANDRY PHD PRES/TREAS/CLERK/DIR - PATH 50.00
Officer Director
$0 $0 $0
CHRISTIAN ARBELAEZ MD MPH PRES/TREAS/CLERK/DIR - ER 50.00
Officer Director
$0 $0 $0
RANIA BURKE PHD DIRECTOR - EMF 50.00
Director
$0 $0 $0
ILSE CASTRO-ARAGON MD CLERK/DIRECTOR - RADIO 50.00
Officer Director
$0 $0 $0
TOBY CHAI MD PRES/TREAS/CLERK/DIR - UROLOGY 50.00
Officer Director
$0 $0 $0
STEPHEN CHRISTIANSEN MD PRES/TREAS/CLERK/DIR - EYE 50.00
Officer Director
$0 $0 $0
GERALD DENIS MD DIRECTOR - EMF 50.00
Director
$0 $0 $0
ALIK FARBER MD PRES/TREAS/CLERK/DIR - CT,PS,SA,GS 50.00
Officer Director
$0 $0 $0
ROSHA FORMAN CNM MSN DIRECTOR - OBGYN 50.00
Director
$0 $0 $0
DAVID GREER MD PRS/TRS/DR-REHAB,PRS/TRS/CLK/DR-NEUR 50.00
Officer Director
$0 $0 $0
GREGORY GRILLONE MD PRES/DIR - OTO 50.00
Officer Director
$0 $0 $0
DAVID HENDERSON MD PRES/TREAS/CLERK/DIR - PSYCH 50.00
Officer Director
$0 $0 $0
PAUL HENDESSI MD DIRECTOR - OBGYN 50.00
Director
$0 $0 $0
CLAUDIA HOCHBERG MD DIRECTOR - EMF 50.00
Director
$0 $0 $0
JAMES HOLSAPPLE MD PRESIDENT/DIRECTOR - NEUROSURG 50.00
Officer Director
$0 $0 $0
RONALD IVERSON MD DIRECTOR - OBGYN 50.00
Director
$0 $0 $0
PADMASINI KANDADAI MD DIRECTOR - OBGYN 50.00
Director
$0 $0 $0
SAMANTHA KAPLAN MD DIRECTOR - OBGYN 50.00
Director
$0 $0 $0
MIRIAM KOMAROMY MD DIRECTOR - EMF (UNTIL 8/24) 50.00
Director
$0 $0 $0
CHRISTINA LAM MD PRESIDENT/DIRECTOR - DERM 50.00
Officer Director
$0 $0 $0
KETTIE LOUIS DNP DIRECTOR - OBGYN 50.00
Director
$0 $0 $0
JUSTIN LUI DIRECTOR - EMF (AS OF 9/24) 50.00
Director
$0 $0 $0
KATHARINE O'CONNELL WHITE MD PRESIDENT/DIRECTOR - OBGYN 50.00
Officer Director
$0 $0 $0
RAFAEL ORTEGA MD PRES/TREAS/CLERK/DIR - ANES 50.00
Officer Director
$0 $0 $0
ELIJAH PAINTSIL MD PRES/TREAS/CLERK/DIR - CHF 50.00
Officer Director
$0 $0 $0
ASHVIN PANDE MD DIRECTOR - EMF 50.00
Director
$0 $0 $0
SUSANNAH ROWE MD DIRECTOR - EYE 50.00
Director
$0 $0 $0
SHANSHAN SHEEHY DIRECTOR - EMF (AS OF 9/1/2024) 50.00
Director
$0 $0 $0
NICOLE SIEGEL MD DIRECTOR - EYE 50.00
Director
$0 $0 $0
JORGE SOTO MD PRESIDENT/DIRECTOR - RADIO 50.00
Officer Director
$0 $0 $0
MANJU SUBRAMANIAN MD DIRECTOR - EYE 50.00
Director
$0 $0 $0
JAROSLAW TKACZ MD TREASURER/DIRECTOR - RADIO 50.00
Officer Director
$0 $0 $0
PAUL TORNETTA MD PRES/TREAS/CLERK/DIR - ORTHO 50.00
Officer Director
$0 $0 $0
MINH-TAM TRUONG MD PRES/TREAS/CLERK/DIR - RAD ONC 50.00
Officer Director
$0 $0 $0
SUSHRUT WAIKAR MD MPH PRES/TREAS/DIR - EMF 50.00
Officer Director
$0 $0 $0
STEPHEN WILSON MD PRES/TREAS/CLERK/DIR - FAM 50.00
Officer Director
$0 $0 $0
GOPALA YADAVALLI MD DIRECTOR - EMF 50.00
Director
$0 $0 $0
DAVID BECK SCHEDULE O DISCLOSURE 5.00
Officer
$0 $0 $0
CAROL BOUDROT CLERK - OBGYN 50.00
Officer
$0 $0 $0
JAMIE LEVY TREASURER/CLERK - DERM 50.00
Officer
$0 $0 $0
MATTHEW NIVISON TREAS/CLK-NEUROSURG & TREAS-OTO 50.00
Officer
$0 $0 $0
JACOB PIETER NOORDZIJ MD CLERK - OTO 50.00
Officer
$0 $0 $0
ANNA PATRUSHEVA TREASURER - OBGYN 50.00
Officer
$0 $0 $0
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 $138,261,106 $145,600,548 $95,216,696 $-7,339,442
2024 No data No data No data No data
2023 $497,729,032 $498,398,370 $90,825,842 $-669,338
2022 $458,441,179 $462,120,994 $96,334,026 $-3,679,815
2021 $409,797,243 $409,334,309 $96,526,141 $462,934
2020 $418,419,019 $423,811,179 $86,602,730 $-5,392,160
2019 $389,978,596 $390,788,354 $88,623,010 $-809,758
2018 $388,751,730 $390,544,612 $89,336,627 $-1,792,882
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