Elliot Physicians Network INC FY2024 filing

Tax-deductible

Manchester, NH501(c)(3)Since 2002Health CareEIN 02-0509589

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The Elliot Physician Network is a group of specialized physicians which are dedicated to the promotion of highest quality, compassionate and accessible health care. We realize the importance of each patient and each physician in the patient-physician relationship. We are guided by the desire to work within the larger Elliot Health System to create a healthy community.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
$2.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $8.9M a year · 25% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.4M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7.0M
355% of total assets
Concern: liabilities are 355% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 9 voting members
Worth a look: 3 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$41.7M
+10% vs prior year
Spent
$51.9M
To programs
98%
Net assets
−$5.0M
By yearFY2020–FY2024
Revenue
$41.7M
FY2024▲ +10%
Revenue by fiscal year
FY2020$32.2M
FY2021$34.0M
FY2022$35.3M
FY2023$38.0M
FY2024$41.7M
FY2024$43.2M
Expenses
$51.9M
FY2024▲ +8%
Expenses by fiscal year
FY2020$42.1M
FY2021$40.4M
FY2022$43.1M
FY2023$48.0M
FY2024$51.9M
FY2024$52.7M
Net assets
−$5.0M
FY2024+0.5%
Net assets by fiscal year
FY2020−$11.8M
FY2021−$9.4M
FY2022−$6.6M
FY2023−$5.1M
FY2024−$5.0M
FY2024−$4.7M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $50.7M Management & general 2% · $1.2M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990; $2.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$481,828Pt VII · Sec A
$414,931Pt VII · Sec A
$412,794Pt VII · Sec A
Physician
$410,937Pt VII · Sec A
$374,653Pt VII · Sec A
$292,709Pt VII · Sec A
$0Pt VII · Sec A
Chair/Trustee
$0Pt VII · Sec A

Manish Chopra MD’s $484K as Physician is at the 74th percentile of top reported officer pay among 2901 $10–100M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Manish Chopra MD$484,477$481,828$448,770$429,905$385,257—
Gus Emmick MD$419,312$410,937$429,428$431,418——
Gus G Emmick MD————$358,399$416,210
Richard Tedesco MD—$414,931—$361,603——
Shanon Gruchot MD$413,787—————
Samuel Goldman MD$412,517$412,794$378,649———
Khalil Shahin MD$398,932—————
Masooma Athar MD—$374,653$387,113$353,646——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Elliot Physicians Network INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes high-quality, compassionate, and accessible healthcare by supporting physician-patient relationships.

Provided by the organization

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1 program service account for $50.7M of program spending, described in the organization's own filed words · FY2023.
01

To employ physicians duly licensed in medicine and other qualified personnel and make the services of such health care professionals available to such persons, including indigent persons, requiring medical care.

$50.7Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$41.7M
Ln 12
Fees for servicesLn 2g$41.7M
Gifts and grantsLn 1h$2K
Money outPt IX
$51.9M
Ln 25
Programscol B$50.7M
Managementcol C$1.2M
Owns and owesPt X
−$5.0M
net assets · Ln 32
Cash and savingsLn 1–2$341K
Total assetsLn 16$2.0M
LiabilitiesLn 26$7.0M
PeoplePt VI, VII
15
listed · VII A
PaidVII A6
Voting boardVI 1a9
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Fees for servicesLn 2g$41.7M
Total revenueLn 12$41.7M
Assets in detailPt X, end of year
CashLn 1$341K
Cash and savings togetherLn 1–2$341K
Land, buildings, equipmentLn 10c$324K
Other assetsLn 15−$1.4M
Total assetsLn 16$2.0M
LiabilitiesLn 26$7.0M
Net assetsLn 32−$5.0M
OperationsPt I, VI
EmployeesI 5124
VolunteersI 617
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$738K$341K
Land, buildings, equipmentLn 10c$320K$324K
Total assetsLn 16$3.2M$2.0M
LiabilitiesLn 26$8.2M$7.0M
Net assetsLn 32−$5.1M−$5.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$332K$332K
Other salaries and wagesLn 7$33.7M$33.7M
Pension plan contributionsLn 8$1.1M$1.1M
Other employee benefitsLn 9$4.1M$4.1M
Payroll taxesLn 10$1.9M$1.9M
Management feesLn 11a$1.2M$1.2M
Other fees for servicesLn 11g$568K$566K$2K
Office expensesLn 13$1.6M$1.6M
Information technologyLn 14$88K$88K
OccupancyLn 16$3.7M$3.7M
Conferences, conventions and meetingsLn 19$32K$32K
Depreciation, depletion and amortizationLn 22$170K$170K
Other expenses (24a–d)Ln 24$3.3M$3.3M
Total functional expensesLn 25$51.9M$50.7M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $41.7M$51.9M−$10.2M−$5.0M 990 PDF
FY2023 $38.0M$48.0M−$9.9M−$5.1M 990 PDF
FY2022 $35.3M$43.1M−$7.9M−$6.6M 990 PDF
FY2021 $34.0M$40.4M−$6.4M−$9.4M 990 PDF
FY2020 $32.2M$42.1M−$10.0M−$11.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $41,683,246 across 4 lines filed
VIII-1d Related organizations$1,639
VIII-1h Total contributions, gifts and grants$1,639
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $41,681,607$41,681,607
VIII-12 Total revenueRelated to mission $41,681,607 · Unrelated business $0 · Excluded from tax $0$41,683,246
Part IX · Statement of functional expenses $51,887,170 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $332,351$332,351
IX-7 Other salaries and wagesPrograms $33,732,334$33,732,334
IX-8 Pension plan contributionsPrograms $1,122,584$1,122,584
IX-9 Other employee benefitsPrograms $4,146,182$4,146,182
IX-10 Payroll taxesPrograms $1,894,108$1,894,108
IX-11a Management feesManagement $1,200,660$1,200,660
IX-11g Other fees for servicesPrograms $566,102 · Management $2,250$568,352
IX-13 Office expensesPrograms $1,558,753$1,558,753
IX-14 Information technologyPrograms $88,429$88,429
IX-16 OccupancyPrograms $3,708,324$3,708,324
IX-19 Conferences, conventions and meetingsPrograms $32,026$32,026
IX-22 Depreciation, depletion and amortizationPrograms $170,227$170,227
IX-24 Other expenses (24a–d)Programs $3,332,840$3,332,840
IX-25 Total functional expensesPrograms $50,684,260 · Management $1,202,910 · Fundraising $0$51,887,170
Part X · Balance sheet $1,975,864 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $738,020$341,051
X-4 Accounts receivableStart of year $1,976,463$2,609,139
X-9 Prepaid expenses and deferred chargesStart of year $3,735$3,740
X-10c Land, buildings and equipment, netStart of year $320,169$323,906
X-14 Intangible assetsStart of year $56,164$50,037
X-15 Other assetsStart of year $67,566−$1,352,009
X-16 Total assetsStart of year $3,162,117$1,975,864
X-17 Accounts payable and accrued expensesStart of year $4,985,385$5,950,100
X-25 Other liabilitiesStart of year $3,230,510$1,054,601
X-26 Total liabilitiesStart of year $8,215,895$7,004,701
X-27 Net assets without donor restrictionsStart of year −$5,053,778−$5,028,837
X-32 Total net assets or fund balancesStart of year −$5,053,778−$5,028,837
X-33 Total liabilities and net assetsStart of year $3,162,117$1,975,864
Part XI · Reconciliation of net assets −$5,028,837 net assets at year end
XI-1 Total revenue$41,683,246
XI-2 Total expenses$51,887,170
XI-3 Revenue less expenses−$10,203,924
XI-4 Net assets at start of year−$5,053,778
XI-9 Other changes in net assets$10,228,865
XI-10 Net assets at end of year−$5,028,837

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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