← FROEDTERT & THE MEDICAL COLLEGE OF WISCONSIN COMMUNITY PHYSICIANS INC

Form 990 for tax year 2024

Filed by FROEDTERT & THE MEDICAL COLLEGE OF WISCONSIN COMMUNITY PHYSICIANS INC.

Totals

Total revenue: $430,975,182
Total expenses: $430,975,182
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $378,463,178
Investment income: $0
Other revenue: $52,512,004
Total assets, end of year: $154,810,926
Total liabilities, end of year: $67,329,619
Net assets or fund balances, end of year: $87,481,307
Program services expenses (Part IX): $372,190,406
Management and general expenses: $58,784,776
Fundraising expenses: $0
Program service expenses (Part III): $372,190,406

Program services were 86.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

2a · Program service revenue: SPECIALTY CARE SERVICES

total $176,817,997 · related or exempt $176,817,997
2b · Program service revenue: PRIMARY CARE SERVICES

total $151,725,888 · related or exempt $151,725,888
2c · Program service revenue: ANCILLARY CARE SERVICES

total $49,919,293 · related or exempt $49,919,293
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6c · Rental income or loss

real property $0 · personal property $0
7c · Gain or loss

securities $0 · other assets $0
11a · Other revenue: MANAGEMENT FEES

total $27,662,570 · related or exempt $27,662,570
11b · Other revenue: CORPORATE ALLOCATED REVENUE

total $15,670,453 · related or exempt $15,670,453
11c · Other revenue: OTHER DEPT OPERATING REVENUE

total $9,178,981 · related or exempt $9,178,981
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$52,512,004

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $1,698,665 · program services $0 · management and general $1,698,665 · fundraising $0
7 · Other salaries and wages

total $218,986,506 · program services $201,831,122 · management and general $17,155,384
8 · Pension plan contributions

total $70,034 · program services $0 · management and general $70,034
9 · Other employee benefits

total $44,479 · program services $37,938 · management and general $6,541
10 · Payroll taxes

total $14,230,694 · program services $13,031,193 · management and general $1,199,501
11b · Fees: legal

total $27,520 · program services $0 · management and general $27,520
11g · Fees: other

total $141,948,701 · program services $120,874,056 · management and general $21,074,645 · fundraising $0
13 · Office expenses

total $1,250,662 · program services $1,199,390 · management and general $51,272
14 · Information technology

total $421,996 · program services $360,074 · management and general $61,922
16 · Occupancy

total $31,200,277 · program services $29,640,263 · management and general $1,560,014
17 · Travel

total $92,659 · program services $77,759 · management and general $14,900
19 · Conferences, conventions and meetings

total $432,975 · program services $390,264 · management and general $42,711
20 · Interest

total $121,910 · program services $121,910
22 · Depreciation, depletion and amortization

total $5,637,917 · program services $5,356,021 · management and general $281,896
23 · Insurance

total $148,248 · program services $148,248
24a · Other expenses: CORPORATE ALLOCATIONS

total $84,375,198 · program services $49,273,938 · management and general $35,101,260
24b · Other expenses: MEDICAL SUPPLIES

total $35,720,866 · program services $35,713,802 · management and general $7,064
24c · Other expenses: ALL OTHER DIRECT EXPENS

total $2,125,706 · program services $939,333 · management and general $1,186,373
24d · Other expenses: PROFESSIONAL DUES & LIC

total $582,794 · program services $156,008 · management and general $426,786
24e · All other expenses

total -$108,142,625 · program services -$86,960,913 · management and general -$21,181,712 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $600 · end of year $600
4 · Accounts receivable

beginning of year $45,200,325 · end of year $50,046,809
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
8 · Inventories for sale or use

beginning of year $1,852,557 · end of year $2,922,029
9 · Prepaid expenses and deferred charges

beginning of year $193,482 · end of year $136,082
10a · Land, buildings and equipment: cost or other basis

$199,673,787
10b · Land, buildings and equipment: accumulated depreciation

$97,986,031
10c · Land, buildings and equipment, net

beginning of year $77,508,132 · end of year $101,687,756
12 · Investments: other securities

beginning of year $0
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $17,650 · end of year $17,650
17 · Accounts payable and accrued expenses

beginning of year $55,911,648 · end of year $65,885,890
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $1,373,695 · end of year $1,443,729
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $67,487,403 · end of year $87,481,307

Mission and programs · 2024

Mission

TO ADVANCE THE HEALTH OF OUR COMMUNITIES THROUGH EXCELLENCE AND DISCOVERY, INSPIRING EACH PERSON TO LIVE THEIR UNIQUE, BEST LIFE.

FROEDTERT & THE MEDICAL COLLEGE OF WISCONSIN COMMUNITY PHYSICIANS, INC.'S (CP) SPECIALTY DEPARTMENTS SAW OVER 610,000 PATIENT VISITS IN FY25. CP HAS OVER 1,037 SPECIALTY PROVIDERS WHO PROVIDE SERVICES INCLUDING AREAS SUCH AS OBSTETRICS, SURGERY, BEHAVIORAL HEALTH, CARDIOLOGY, AND SEVERAL OTHERS.

Expenses $152,700,120 · Revenue $176,817,997
CP'S PRIMARY CARE DEPARTMENTS SAW OVER 661,000 PATIENT VISITS IN FY25. CP HAS OVER 624 PRIMARY CARE PROVIDERS WHO PROVIDE SERVICES IN THE AREAS OF FAMILY MEDICINE, INTERNAL MEDICINE, PEDIATRICS, AND WALK-IN CLINIC.

Expenses $131,030,561 · Revenue $151,725,888
CP'S ANCILLARY DEPARTMENTS SAW OVER 609,000 PATIENT VISITS IN FY25. CP PROVIDES ANCILLARY SERVICES IN THE AREAS OF LABORATORY, RADIOLOGY, AND REHABILITATION SERVICES.

Expenses $43,110,329 · Revenue $49,919,293
AS PART OF OPERATING AN INTEGRATED NETWORK OF HEALTHCARE PROVIDERS AND PROVIDING HEALTH CARE SERVICES TO THE COMMUNITY, OTHER REVENUE IS DERIVED IN THE FOLLOWING AREAS: REVENUE FROM HEALTH SYSTEM AFFILIATES - CONSISTS OF REVENUE DERIVED FROM MEDICAL AND ADMINISTRATIVE SERVICES PROVIDED TO SJH, CMH, FMLH, AND FROEDTERT HEALTH NEIGHBORHOOD HOSPITAL, LLC, AFFILIATED ORGANIZATIONS. SERVICES INCLUDE PHYSICIAN AND STAFF COVERAGE, MEDICAL DIRECTORS, HOSPITALISTS, AND LABORATORY SERVICES. ALL OF THESE SERVICES SUPPORT THE DELIVERY OF HEALTHCARE TO THE COMMUNITY. OTHER DEPARTMENT OPERATING REVENUE - REVENUE DERIVED FROM DIFFERENT SERVICES THROUGH THE PROCESS OF PROVIDING PATIENT CARE AND IN THE NORMAL OPERATION OF A MEDICAL FACILITY. INCLUDED IN THIS CATEGORY ARE ITEMS SUCH AS LEASED STAFF REVENUE AND COVID RELIEF FUNDS. CORPORATE ALLOCATED REVENUE - REVENUE PASSED THROUGH FROM FTCH, AN AFFILIATED ORGANIZATION.

Expenses $45,349,396 · Revenue $52,512,004

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Imran Andrabi MD

Director & BOD V Chair (eff 7/1/24)

Total calculated

$0

Hours/week

1
John Raymond MD

Director & BOD Chair

Total calculated

$0

Hours/week

1
Scott Hawig

Director & Treasurer

Total calculated

$0

Hours/week

1
David Olson

Director

Total calculated

$0

Hours/week

1
Ian Schwartz MD

Director

Total calculated

$0

Hours/week

1
Joseph Kerschner MD

Director

Total calculated

$0

Hours/week

1
Kevin Regner MD

Director

Total calculated

$0

Hours/week

1
Kimberly Gecsi MD

Director

Total calculated

$0

Hours/week

1
Matthew Lester

Director

Total calculated

$0

Hours/week

1
Susan Campbell

Director

Total calculated

$0

Hours/week

1
Aileen Shinaman

BOD Secretary (term 12/31/24)

Total calculated

$0

Hours/week

1
Amir Ghaferi MD

President

Total calculated

$0

Hours/week

1
Nelsen Wahlstrom

BOD Secretary (eff 1/1/25)

Total calculated

$0

Hours/week

1
Amy Miller MD

Chief Medical Officer

Total calculated

$849,682

From this org

$749,934

From related orgs

$0

Other

$99,748

Hours/week

50

Schedule J breakdown matched by us

Base

$541,770

Bonus

$183,214

Other

$24,950

Deferred

$58,138

Nontaxable benefits

$41,610

Filer's total

$849,682
Ann Tesmer

Sr VP Clinical Operations

Total calculated

$747,542

From this org

$610,416

From related orgs

$0

Other

$137,126

Hours/week

50

Schedule J breakdown matched by us

Base

$343,473

Bonus

$197,549

Other

$69,394

Deferred

$99,857

Nontaxable benefits

$37,269

Filer's total

$747,542
Candice Lovell MD

Doctor-OB/GYN

Total calculated

$667,307

From this org

$608,218

From related orgs

$0

Other

$59,089

Hours/week

50

Schedule J breakdown matched by us

Base

$563,988

Bonus

$19,314

Other

$24,916

Deferred

$20,250

Nontaxable benefits

$38,839

Filer's total

$667,307
Douglas Marx DO

Doctor & Chief Medical Officer

Total calculated

$830,307

From this org

$789,471

From related orgs

$0

Other

$40,836

Hours/week

50

Schedule J breakdown matched by us

Base

$401,832

Bonus

$52,948

Other

$334,691

Deferred

$22,097

Nontaxable benefits

$18,739

Filer's total

$830,307
Melanie Delaney MD

Doctor-OB/GYN

Total calculated

$664,134

From this org

$613,704

From related orgs

$0

Other

$50,430

Hours/week

50

Schedule J breakdown matched by us

Base

$592,140

Bonus

$20,371

Other

$1,193

Deferred

$18,579

Nontaxable benefits

$31,851

Filer's total

$664,134
Mir Quryshi MD

Doctor-Internal Medicine

Total calculated

$772,356

From this org

$720,287

From related orgs

$0

Other

$52,069

Hours/week

50

Schedule J breakdown matched by us

Base

$653,423

Bonus

$42,758

Other

$24,106

Deferred

$19,425

Nontaxable benefits

$32,644

Filer's total

$772,356
Tyshunda Manning MD

Doctor-OB/GYN

Total calculated

$742,625

From this org

$681,537

From related orgs

$0

Other

$61,088

Hours/week

50

Schedule J breakdown matched by us

Base

$632,652

Bonus

$19,117

Other

$29,768

Deferred

$21,900

Nontaxable benefits

$39,188

Filer's total

$742,625

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
7 · Other non-fixed payments

Answered no

4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation: COMPENSATION OF CEO/EXECUTIVE DIRECTOR ESTABLISHED BY AFFILIATED ORGANIZATION, FROEDTERT THEDACARE HEALTH, THROUGH THE USE OF TALENT STRATEGY AND COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD OR TALENT STRATEGY AND COMPENSATION COMMITTEE. AMIR GHAFERI, MD, IS THE PRESIDENT OF CP AND IS EMPLOYED BY THE MEDICAL COLLEGE OF WISCONSIN.
Schedule J, Part I, Line 4a Severance or change-of-control payment: Severance: Marx, Douglas - $208,170
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan: 457(f) distributions: Marx, Douglas - $111,753 Tesmer, Ann - $43,907 457(f) plan participants: Marx, Douglas Miller, Amy Tesmer, Ann
Schedule J, Part I, Line 7 Non-fixed payments: BONUS COMPENSATION IS PAID BASED UPON ATTAINMENT OF SPECIFIC GOALS RELATED TO THE ORGANIZATION'S STRATEGY, SERVICE, QUALITY AND FINANCIAL STRENGTH. THE AMOUNT OF COMPENSATION IS CALCULATED USING SPECIFIED PERCENTAGES OF BASE SALARY FOR ACHIEVEMENT OF PARTICULAR GOAL LEVELS. HOWEVER, THE FROEDTERT THEDACARE HEALTH SYSTEM BOARD COMMITTEE WHICH ADMINISTERS THE BONUS COMPENSATION PROGRAM HAS DISCRETION OVER WHETHER TO PAY THE BONUS IN ANY GIVEN YEAR OR TO AMEND, CHANGE OR TERMINATE THE PROGRAM AT ANY TIME.
Schedule J, Part II LINES 1, 3, and 5 through 7:: INCENTIVE COMPENSATION IS PAID BASED UPON ATTAINMENT OF SPECIFIC GOALS RELATED TO THE ORGANIZATION'S CLINICAL QUALITY, PATIENT CARE SERVICE AND CERTAIN OTHER INDIVIDUAL PERFORMANCE METRICS. THE AMOUNT OF COMPENSATION IS CALCULATED USING SPECIFIC PERCENTAGES OF COMPENSATION FOR ACHIEVEMENT OF PARTICULAR GOAL LEVELS. CP'S BOARD OF DIRECTORS ADMINISTERS THE INCENTIVE COMPENSATION PROGRAM AND HAS DISCRETION TO APPROVE, AMEND OR CHANGE THE MIX OR TYPE OF METRICS USED.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2024
Filed: 12 May 2026
IRS schema version: 2024v5.1
Source object: 202611329349306321

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