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Medical Practice Consortium Trust FY2022 filing

Not tax-deductible

Indianapolis, INMutual-benefit / member-servingSince 2018Mutual/Membership EIN 61-6613201Revenue $10.2M in FY2022

On file with the IRSindianampc.org322 Canal Walk, 46202-3278 · Indianapolis, INTax-exempt since Mar 2020

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To establish one or more employee welfare benefit plans for the Medical Practice Consortium employers.

Mission: Form 990 Part I, line 1

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
1 of 5
filings with a surplus
Average deficit $900K a year · 8% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
8 mo
of spending, in cash
Plus $9.0M in investments, Pt X · Ln 11–13
Looks good: 8.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.5M
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$10.2M
-9% vs prior year
Spent
$8.8M
Net assets
$14.1M
By yearFY2020–FY2024
Revenue
$10.2M
FY2022▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.0M
FY2021$11.2M
FY2022$10.2M
FY2023$10.4M
FY2024$12.7M
Expenses
$8.8M
FY2022▼ -26%
Tap a bar for its year
Expenses by fiscal year
FY2020$11.3M
FY2021$11.9M
FY2022$8.8M
FY2023$12.6M
FY2024$15.2M
Net assets
$14.1M
FY2022▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$13.6M
FY2021$12.8M
FY2022$14.1M
FY2023$12.7M
FY2024$10.7M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2020.

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Floyd MD
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Medical Practice Consortium Trust 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 15aNo

Programs and updates

Provides employee welfare benefit plans for medical practice consortium employers.

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1 program · in their own filed words · FY2022
01

The sole purpose and activity of the trust is to establish one or more employee welfare benefit plans for the medical practice consortium employers.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$10.2M
Ln 12
Fees for servicesLn 2g$10.0M
Investment incomeLn 3$189K
Money outPt IX
$8.8M
Ln 25
Owns and owesPt X
$14.1M
net assets · Ln 32
Cash and savingsLn 1–2$6.1M
Total assetsLn 16$15.6M
LiabilitiesLn 26$1.5M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$10.0M
Investment incomeLn 3$189K
Gains on assetsLn 7$2K
Total revenueLn 12$10.2M
Assets in detailPt X, end of year
SavingsLn 2$6.1M
Cash and savings togetherLn 1–2$6.1M
InvestmentsLn 11–13$9.0M
Total assetsLn 16$15.6M
LiabilitiesLn 26$1.5M
Net assetsLn 32$14.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$14.7M$6.1M
InvestmentsLn 11–13$9.0M
Total assetsLn 16$15.2M$15.6M
LiabilitiesLn 26$2.4M$1.5M
Net assetsLn 32$12.8M$14.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$6.1M
Legal feesLn 11b$58K
Lobbying feesLn 11d$40K
Investment management feesLn 11f$50K
Office expensesLn 13$2K
Conferences, conventions and meetingsLn 19$2K
InsuranceLn 23$43K
Other expenses (24a–d)Ln 24$2.0M
All other expensesLn 24e$481K
Total functional expensesLn 25$8.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $12.7M$15.2M−$2.5M$10.7M 990 PDF
FY2023 $10.4M$12.6M−$2.2M$12.7M 990 PDF
FY2022 Viewing $10.2M$8.8M$1.4M$14.1M 990 PDF
FY2021 $11.2M$11.9M−$766K$12.8M 990 PDF
FY2020 $11.0M$11.3M−$351K$13.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $10,193,463 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $11,133,335$10,004,170
I-10 Investment incomePrior year $27,182$189,293
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $11,160,517$10,193,463
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $9,257,964$6,130,175
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,668,124$2,679,534
I-18 Total expensesPrior year $11,926,088$8,809,709
I-19 Revenue less expensesPrior year −$765,571$1,383,754
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $10,193,463 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,004,170$10,004,170
VIII-3 Investment incomeUnrelated business $187,655$187,655
VIII-7 Net gain or loss on sales of assetsUnrelated business $1,638$1,638
VIII-12 Total revenueRelated to mission $10,004,170 · Unrelated business $189,293 · Excluded from tax $0$10,193,463
Part IX · Statement of functional expenses $8,809,709 across 9 lines filed
IX-4 Benefits paid to or for members$6,130,175
IX-11b Legal fees$58,391
IX-11d Lobbying fees$39,600
IX-11f Investment management fees$49,855
IX-13 Office expenses$2,453
IX-19 Conferences, conventions and meetings$1,567
IX-23 Insurance$43,342
IX-24 Other expenses (24a–d)$2,002,857
IX-24e All other expenses$481,469
IX-25 Total functional expenses$8,809,709
Part X · Balance sheet $15,627,865 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $14,680,687$6,133,327
X-4 Accounts receivableStart of year $469,384$489,692
X-9 Prepaid expenses and deferred chargesStart of year $18,752$19,534
X-12 Other securities$8,985,312
X-16 Total assetsStart of year $15,168,823$15,627,865
X-17 Accounts payable and accrued expensesStart of year $26,366$129,989
X-19 Deferred revenueStart of year $898,847$788,604
X-25 Other liabilitiesStart of year $1,447,675$619,405
X-26 Total liabilitiesStart of year $2,372,888$1,537,998
X-32 Total net assets or fund balancesStart of year $12,795,935$14,089,867
X-33 Total liabilities and net assetsStart of year $15,168,823$15,627,865
Part XI · Reconciliation of net assets $14,089,867 net assets at year end
XI-1 Total revenue$10,193,463
XI-2 Total expenses$8,809,709
XI-3 Revenue less expenses$1,383,754
XI-4 Net assets at start of year$12,795,935
XI-5 Net unrealized gains (losses) on investments−$89,824
XI-9 Other changes in net assets$2
XI-10 Net assets at end of year$14,089,867

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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