McV Associated Physicians EIN 54-1581185

McV Associated Physicians FY2022 filing

EIN  54-1581185 Hospital Richmond, VA Founded 1991
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2023) →
Compare with another nonprofit →
Verified accurate 7/4/26 · see original filing: IRS
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until McV Associated Physicians claims this page.

Know this organization? Claim it to add your story

Size
$100M+
What they do
Provides medical care, including burn and cancer treatment, and supports Virginia Commonwealth University's medical school and health system.
Leadership
Dennis Rivet MD · Neurosurgeon · $955K
Money in and out
$572.4M revenue, $696.7M expenses

Provides medical care, including burn and cancer treatment, and supports Virginia Commonwealth University's medical school and health system. For fiscal year 2022 it reported $572.4M in revenue, $696.7M in expenses, and $-67.8M in net assets.Pt I

Financial scale & money flow · FY2022
Total revenue
$572.4M
Pt VIII · Ln 12
Total expenses
$696.7M
Pt IX · Ln 25
Net assets
$-67.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$124.3M
Where spending went · Part IX cols B–D
Program services $0.96 Management & general $0.04

Summary of the Filing

Part I · fiscal year 2022 · Form 990-T
Revenue
$572.4M
FY2022▲ +6%
Expenses
$696.7M
FY2022▲ +16%
Total assets
$913.7M
FY2022▲ +208%
Total liabilities
$981.5M
FY2022▲ +375%
Total revenue
$572.4M
Pt VIII · Ln 12
Total expenses
$696.7M
Pt IX · Ln 25
Net assets
$-67.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$124.3M
Total assetsPt X · Ln 16$913.7M
Program-expense ratioPt IX · col B96%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 42
Mission & Programs · Part III

Where the work happens

1 program service account for $670.1M of program spending, described in the organization's own filed words · FY2021.
01

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).

$670.1Mprogram expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMcV Associated Physicians
EINHdr · item D54-1581185
Principal addressHdr · item CRichmond, VA
Year of formationHdr · item L1991
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E30)
Ruling yearIRS BMFJun 2024

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b2
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Neurosurgeon
$955,438Pt VII · Sec A
Neurosurgeon
$929,266Pt VII · Sec A
Neurosurgeon
$909,841Pt VII · Sec A
Orthopedic Surgeon
$886,111Pt VII · Sec A
Neurosurgeon
$884,961Pt VII · Sec A
$801,413Pt VII · Sec A
$749,644Pt VII · Sec A
Dir (jan-June)
$601,965Pt VII · Sec A

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

NameFY2023FY2022FY2021FY2020
Michael Felman MD$1,097,249
Brian Cameron MD$1,000,168$929,266$1,086,141$558,991
Mack Drake MD$1,019,721
Dennis Rivet MD$955,438
Thomas Yeh MD$954,509
Kenneth Ellenbogen MD$931,667$910,211$885,597
Jesse Torbert MD$915,594
Robert Graham MD$911,802$884,961

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 McV Associated Physicians executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Program service revenue$522.3M · 91%
Contributions & grants$47.7M · 8%
Program service revenue91%$522.3M
Contributions & grants8%$47.7M
Investment income$2.5M
Other revenue$14K
Total revenueLn 12$572.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.96 Management & general $0.04
Program services96%$670.1M
Management & general4%$26.6M
Total functional expensesLn 25$696.7M

Balance Sheet

Part X · end of year
CashLn 1$256K
Total assetsLn 16$913.7M
Total liabilitiesLn 26$981.5M
Total net assetsLn 32$-67.8M
Months of cash on handcomputed0.0

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$40K
Grants paid · 4 grants · $53.6M · 2019–2022
VCU School of MedicineFY2022$16,938,621
VCU School of MedicineFY2021$13,426,657
VCU School of MedicineFY2020$10,038,985
VCU School of MedicineFY2019$13,211,672

Similar Organizations

Closest in mission — by what they do
See all organizations like McV Associated Physicians →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2023 (Latest)$632.3M revenue · ⤓ 990 PDF
FY2022$572.4M revenue · viewing · ⤓ 990 PDF
FY2021$540.0M revenue · ⤓ 990 PDF
FY2020$528.3M revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.