Faculty Practice Foundation INC & Affiliates

Tax-deductible

Boston, MA501(c)(3)Since 1994EIN 90-0513372

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Run by 38 volunteers and 2,236 employees.
Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

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
1 of 5
filings with a surplus
Average deficit $3.3M a year · under 1% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$27.5M
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: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$25.0M
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 36 voting members
Concern: none of 36 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$588.0M
+10% vs prior year
Spent
$585.9M
To programs
81%
Net assets
$67.1M
By yearFY2020–FY2024
Revenue
$588.0M
FY2024▲ +10%
Revenue by fiscal year
FY2020$418.4M
FY2021$409.8M
FY2022$458.4M
FY2023$497.7M
FY2024$535.5M
FY2024$588.0M
Expenses
$585.9M
FY2024▲ +8%
Expenses by fiscal year
FY2020$423.8M
FY2021$409.3M
FY2022$462.1M
FY2023$498.4M
FY2024$542.7M
FY2024$585.9M
Net assets
$67.1M
FY2024▲ +4%
Net assets by fiscal year
FY2020$58.7M
FY2021$67.0M
FY2022$62.6M
FY2023$64.8M
FY2024$64.6M
FY2024$67.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1997.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $473.7M Management & general 19% · $112.2M

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

Who runs it and what they're paid

56 people listed on the 990; $27.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
Physician - Ortho
$1,376,064Pt VII · Sec A
Physician - Ortho
$1,330,643Pt VII · Sec A
President - Fpf, Prof/Phys - Ortho
$1,226,917Pt VII · Sec A
Professor/Physician - Ortho
$1,210,500Pt VII · Sec A
President/Director - Neurosurg
$1,028,645Pt VII · Sec A
Pres/Treas/Clerk/Dir - Ortho
$1,007,579Pt VII · Sec A
Former Pres/Clerk/Dir - Chf
$952,392Pt VII · Sec A
Pres/Dir - Oto
$925,330Pt VII · Sec A

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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Tony Tannoury MD$1,210,500$1,416,607$1,806,821$1,361,078$1,392,635—
Tony Tannoury MD—————$1,703,278
David Coleman MD—$1,652,000$725,139$828,346$885,740—
Xinning Li MD$1,330,643$1,141,910$1,426,957$1,388,449$1,422,047—
Chadi Tannoury MD$1,376,064$1,305,924$905,664$1,058,341$1,083,111—
William Creevy MD$1,226,917$1,161,864$1,158,958$1,166,669$1,199,792—
Jennifer Tseng MD$680,570$1,156,227$1,048,952$992,645$1,040,916—
Niloo Edwards MD——$1,064,449———

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 Faculty Practice Foundation INC & Affiliates 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides and coordinates patient care services, promoting an integrated healthcare system for Boston Medical Center and Boston University School of Medicine.

Provided by the organization

This section is blank until Faculty Practice Foundation INC & Affiliates claims this page.

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1 program service account for $473.7M of program spending, described in the organization's own filed words · FY2024.
01

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.

$473.7Mprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 11 grants · $124K · 2019–2024
Shippy FoundationNY · FY2021$16,809
Orthopaedic ResearchFY2021$9,500
Orthopaedic ResearchFY2020$11,250

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$588.0M
Ln 12
Fees for servicesLn 2g$582.1M
Investment incomeLn 3$5.9M
Money outPt IX
$585.9M
Ln 25
Programscol B$473.7M
Managementcol C$112.2M
Owns and owesPt X
$67.1M
net assets · Ln 32
Cash and savingsLn 1–2$14.3M
Total assetsLn 16$92.2M
LiabilitiesLn 26$25.0M
PeoplePt VI, VII
56
listed · VII A
PaidVII A48
Voting boardVI 1a36
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$582.1M
Investment incomeLn 3$5.9M
Total revenueLn 12$588.0M
Assets in detailPt X, end of year
CashLn 1$14.2M
SavingsLn 2$89K
Cash and savings togetherLn 1–2$14.3M
InvestmentsLn 11–13$44.4M
Land, buildings, equipmentLn 10c$2.3M
Other assetsLn 15$11.2M
Total assetsLn 16$92.2M
LiabilitiesLn 26$25.0M
Net assetsLn 32$67.1M
OperationsPt I, VI
EmployeesI 52,236
VolunteersI 638
Fiscal year endsHeaderDecember
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$11.5M$14.3M
InvestmentsLn 11–13$48.2M$44.4M
Land, buildings, equipmentLn 10c$2.8M$2.3M
Total assetsLn 16$95.2M$92.2M
LiabilitiesLn 26$33.6M$25.0M
Net assetsLn 32$61.6M$67.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$18K$18K
Pay of current officers, directors and key staffLn 5$24.3M$19.5M$4.8M
Pay of disqualified personsLn 6$2.7M$1.9M$794K
Other salaries and wagesLn 7$367.5M$292.3M$75.2M
Other employee benefitsLn 9$88.1M$69.4M$18.7M
Other fees for servicesLn 11g$21.8M$17.8M$4.0M
Advertising and promotionLn 12$25K$20K$5K
Office expensesLn 13$1.2M$893K$302K
OccupancyLn 16$2.1M$1.5M$575K
TravelLn 17$863K$691K$172K
Conferences, conventions and meetingsLn 19$3.4M$2.6M$741K
InterestLn 20$12K$8K$4K
Payments to affiliatesLn 21$17.6M$14.5M$3.1M
Depreciation, depletion and amortizationLn 22$569K$399K$170K
InsuranceLn 23$12.6M$10.2M$2.4M
Other expenses (24a–d)Ln 24$40.4M$39.8M$597K
All other expensesLn 24e$2.6M$2.1M$545K
Total functional expensesLn 25$585.9M$473.7M$112.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $535.5M$542.7M−$7.2M$64.6M 990 PDF
FY2023 $497.7M$498.4M−$669K$64.8M 990 PDF
FY2022 $458.4M$462.1M−$3.7M$62.6M 990 PDF
FY2021 $409.8M$409.3M$463K$67.0M 990 PDF
FY2020 $418.4M$423.8M−$5.4M$58.7M 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 $587,967,407 across 3 lines filed
Lines not itemized here account for $6,439,228 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $575,239,305 · Unrelated business $380,690$575,619,995
VIII-3 Investment incomeExcluded from tax $5,908,184$5,908,184
VIII-12 Total revenueRelated to mission $581,678,533 · Unrelated business $380,690 · Excluded from tax $5,908,184$587,967,407
Part IX · Statement of functional expenses $585,856,903 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $18,079$18,079
IX-5 Pay of current officers, directors and key staffPrograms $19,489,188 · Management $4,778,982$24,268,170
IX-6 Pay of disqualified personsPrograms $1,900,591 · Management $794,346$2,694,937
IX-7 Other salaries and wagesPrograms $292,319,743 · Management $75,227,352$367,547,095
IX-9 Other employee benefitsPrograms $69,409,255 · Management $18,715,786$88,125,041
IX-11g Other fees for servicesPrograms $17,795,535 · Management $4,004,851$21,800,386
IX-12 Advertising and promotionPrograms $20,348 · Management $5,113$25,461
IX-13 Office expensesPrograms $892,589 · Management $302,185$1,194,774
IX-16 OccupancyPrograms $1,539,911 · Management $575,442$2,115,353
IX-17 TravelPrograms $691,072 · Management $171,918$862,990
IX-19 Conferences, conventions and meetingsPrograms $2,642,005 · Management $741,057$3,383,062
IX-20 InterestPrograms $8,392 · Management $3,647$12,039
IX-21 Payments to affiliatesPrograms $14,484,593 · Management $3,128,674$17,613,267
IX-22 Depreciation, depletion and amortizationPrograms $398,800 · Management $170,092$568,892
IX-23 InsurancePrograms $10,160,463 · Management $2,437,189$12,597,652
IX-24 Other expenses (24a–d)Programs $39,808,234 · Management $597,075$40,405,309
IX-24e All other expensesPrograms $2,079,155 · Management $545,241$2,624,396
IX-25 Total functional expensesPrograms $473,657,953 · Management $112,198,950 · Fundraising $0$585,856,903
Part X · Balance sheet $92,152,007 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $11,271,205$14,191,529
X-2 Savings and temporary cash investmentsStart of year $190,630$88,649
X-4 Accounts receivableStart of year $25,599,449$20,014,310
X-10c Land, buildings and equipment, netStart of year $2,807,714$2,285,153
X-11 Publicly traded securitiesStart of year $48,215,710$44,394,514
X-15 Other assetsStart of year $7,131,988$11,177,852
X-16 Total assetsStart of year $95,216,696$92,152,007
X-17 Accounts payable and accrued expensesStart of year $11,529,785$12,747,489
X-19 Deferred revenueStart of year $2,430,268$2,128,675
X-25 Other liabilitiesStart of year $19,609,886$10,150,004
X-26 Total liabilitiesStart of year $33,569,939$25,026,168
X-27 Net assets without donor restrictionsStart of year $61,646,757$67,125,839
X-32 Total net assets or fund balancesStart of year $61,646,757$67,125,839
X-33 Total liabilities and net assetsStart of year $95,216,696$92,152,007
Part XI · Reconciliation of net assets $67,125,839 net assets at year end
XI-1 Total revenue$587,967,407
XI-2 Total expenses$585,856,903
XI-3 Revenue less expenses$2,110,504
XI-4 Net assets at start of year$61,646,757
XI-5 Net unrealized gains (losses) on investments−$1,290,308
XI-9 Other changes in net assets$4,658,886
XI-10 Net assets at end of year$67,125,839

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

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