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Nonprofiteer
← PENN MEDICINE-PMA

Form 990 for tax year 2023

Filed by PENN MEDICINE-PMA.

Totals

Total revenue
$28,890,075
Total expenses
$28,827,818
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$28,748,298
Investment income
$0
Other revenue
$141,777
Total assets, end of year
$9,512,463
Total liabilities, end of year
$5,276,249
Net assets or fund balances, end of year
$4,236,214
Program services expenses (Part IX)
$26,497,124
Management and general expenses
$2,330,694
Fundraising expenses
$0
Program service expenses (Part III)
$26,497,124

Program services were 91.9% 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: NET PATIENT SERVICE REVENUES

    total $28,664,070 · related or exempt $28,664,070

  • 2b · Program service revenue: IET SERVICE REVENUES

    total $84,228 · related or exempt $84,228

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $20,277

  • 6c · Rental income or loss

    real property $20,277 · personal property $0

  • 6d · Net rental income or loss

    total $20,277 · related or exempt $0 · unrelated business $0 · excluded $20,277

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER OPERATING REVENUES

    total $121,500 · related or exempt $121,500

  • 11e · Other revenue, total

    $121,500

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $343,439 · program services $305,661 · management and general $37,778 · fundraising $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $3 · program services $3 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,430,212 · program services $1,272,889 · management and general $157,323 · fundraising $0

  • 17 · Travel

    total $14,178 · program services $12,618 · management and general $1,560 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $1,510 · program services $1,344 · management and general $166 · fundraising $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $776,348 · program services $776,348 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: CONTRACTED SERVICES

    total $18,228,183 · program services $16,223,083 · management and general $2,005,100 · fundraising $0

  • 24b · Other expenses: MEDICAL SUPPLIES

    total $6,863,340 · program services $6,863,340 · management and general $0 · fundraising $0

  • 24c · Other expenses: MALPRACTICE

    total $373,788 · program services $332,671 · management and general $41,117 · fundraising $0

  • 24d · Other expenses: OTHER SUPPLIES

    total $186,721 · program services $166,182 · management and general $20,539 · fundraising $0

  • 24e · All other expenses

    total $610,096 · program services $542,985 · management and general $67,111

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,088,104 · end of year $4,803,541

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $74,188 · end of year $74,188

  • 10a · Land, buildings and equipment: cost or other basis

    $4,787,214

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,091,244

  • 10c · Land, buildings and equipment, net

    beginning of year $4,911,196 · end of year $3,695,970

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $959,927 · end of year $938,764

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year -$14,350 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,053,372 · end of year $244,544

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $24,965 · end of year $1,854,149

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $3,177,556

  • 27 · Net assets without donor restrictions

    beginning of year $6,940,728 · end of year $4,236,214

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

PENN MEDICINE-PMA IS ORGANIZED AND OPERATED TO IMPROVE THE QUALITY AND EFFICIENCY OF HEALTH CARE BY PROVIDING CHARITABLE PRIMARY, AS WELL AS SPECIALTY, HEALTH CARE SERVICES TO THE COMMUNITY.

Activities or mission (Part I)

TO IMPROVE THE QUALITY AND EFFICIENCY OF HEALTH CARE BY PROVIDING CHARITABLE PRIMARY, AS WELL AS SPECIALTY, HEALTH CARE SERVICES TO THE COMMUNITY.

  • PENN MEDICINE PMA IS PART OF THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM (UPHS). IN KEEPING WITH ITS CHARITABLE PURPOSE, UPHS ACCEPTS PATIENTS IN SERIOUS NEED OF MEDICAL CARE REGARDLESS OF THEIR FINANCIAL STATUS. AS OF JUNE 30, 2024 PENN MEDICINE PMA HAS 14 PRACTICES THROUGHOUT THE REGION PROVIDING PRIMARY AND SPECIALTY CARE.

    Expenses $26,497,124 · Revenue $28,869,798

As filed on the 2023 return.

Listed in Part VII

  • Deborah A Driscoll MD

    EX-OFFICIO MEMBER, CHAIR

    Total calculated
    $2,158,287
    From this org
    $0
    From related orgs
    $2,124,039
    Other
    $34,248
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $751,288 related
    Bonus
    $0 + $1,132,980 related
    Other
    $0 + $239,771 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $1,248 related
    Filer's total
    $0 + $2,158,287 related

  • Keith Kasper

    CONTROLLER/BOARD MEMBER

    Total calculated
    $2,047,033
    From this org
    $0
    From related orgs
    $1,810,167
    Other
    $236,866
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,066,738 related
    Bonus
    $0 + $507,150 related
    Other
    $0 + $236,279 related
    Deferred
    $0 + $218,400 related
    Nontaxable benefits
    $0 + $18,466 related
    Filer's total
    $0 + $2,047,033 related

  • Lori H Gustave

    BOARD MEMBER

    Total calculated
    $1,045,582
    From this org
    $0
    From related orgs
    $905,147
    Other
    $140,435
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $532,155 related
    Bonus
    $0 + $244,388 related
    Other
    $0 + $128,604 related
    Deferred
    $0 + $111,300 related
    Nontaxable benefits
    $0 + $29,135 related
    Filer's total
    $0 + $1,045,582 related

  • Harvey L Waxman MD

    BOARD MEMBER- AS OF 7/23

    Total calculated
    $936,233
    From this org
    $0
    From related orgs
    $879,210
    Other
    $57,023
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $862,008 related
    Bonus
    $0
    Other
    $0 + $17,202 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $24,023 related
    Filer's total
    $0 + $936,233 related

  • Scott Schlegel

    EX-OFFICIO, EXEC. DIR.

    Total calculated
    $659,844
    From this org
    $0
    From related orgs
    $582,783
    Other
    $77,061
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $339,440 related
    Bonus
    $0 + $144,813 related
    Other
    $0 + $98,530 related
    Deferred
    $0 + $50,634 related
    Nontaxable benefits
    $0 + $26,427 related
    Filer's total
    $0 + $659,844 related

  • Raymond J Kovalski MD

    BOARD MEMBER

    Total calculated
    $574,236
    From this org
    $0
    From related orgs
    $555,983
    Other
    $18,253
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $443,886 related
    Bonus
    $0 + $106,886 related
    Other
    $0 + $5,211 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $18,253 related
    Filer's total
    $0 + $574,236 related

  • Joseph P Heaney

    BOARD MEMBER

    Total calculated
    $412,159
    From this org
    $0
    From related orgs
    $385,336
    Other
    $26,823
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $299,859 related
    Bonus
    $0 + $85,477 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $26,823 related
    Filer's total
    $0 + $412,159 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
TOP MANAGEMENT COMPENSATION AS PROVIDED IN THE FORM 990, SCHEDULE J INSTRUCTIONS, SINCE THE ORGANIZATION RELIES ON A RELATED ORGANIZATION WHICH USES ONE OR MORE OF THE METHODS DESCRIBED IN LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION, THIS QUESTION HAS BEEN LEFT UNANSWERED. REFER TO SCHEDULE O FOR A DESCRIPTION OF THE COMPENSATION REVIEW AND APPROVAL PROCESS. ------------------------------
SCHEDULE J, PART I, LINE 4B
SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PARTICIPATION CERTAIN TRUSTEES, OFFICERS AND/OR KEY EMPLOYEES OF THIS ORGANIZATION ARE COMPENSATED BY A RELATED ORGANIZATION, THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ("UNIVERSITY"). THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM ("HEALTH SYSTEM") MAINTAINS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") DESIGNED FOR SENIOR ADMINISTRATORS OF THE HEALTH SYSTEM, AS DESIGNATED BY THE BOARD OF TRUSTEES, WHO ARE ACTIVELY EMPLOYED BY THE HEALTH SYSTEM WHEN THE CONTRIBUTIONS ARE MADE. VESTING IN THE SERP OCCURS AFTER EACH THREE YEARS OF PARTICIPATION AND UPON THE OCCURRENCE OF CERTAIN EVENTS (ATTAINMENT OF AGE 65, DEATH, DISABILITY, OR INVOLUNTARY TERMINATION WITHOUT "CAUSE"). CONTRIBUTIONS FOR THOSE WHO HAVE REACHED AGE 65 WILL BE FULLY VESTED WHEN MADE. UPON REACHING A VESTING DATE, PARTICIPANTS WILL AUTOMATICALLY RECEIVE A FULL DISTRIBUTION WHICH IS TAXABLE AS EARNED INCOME. PARTICIPANTS WHO VOLUNTARILY TERMINATE BEFORE VESTING WILL FORFEIT THE BALANCE IN THEIR ACCOUNTS. THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN THE UNIVERSITY/HEALTH SYSTEM SERP PLAN DURING THE YEAR AND/OR RECEIVED DISTRIBUTIONS DURING THE YEAR: DRISCOLL, DEBORAH A. - NO DISTRIBUTION GUSTAVE, LORI H. - $85,366 KASPER, KEITH - $198,644 SCHLEGEL, SCOTT - $51,449 THE HEALTH SYSTEM ALSO MAINTAINS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN DESIGNED FOR SENIOR FACULTY OF THE SCHOOL OF MEDICINE OF THE UNIVERSITY, AS DESIGNATED BY THE BOARD OF TRUSTEES, WHO ARE ACTIVELY EMPLOYED BY THE UNIVERSITY WHEN THE CONTRIBUTIONS ARE MADE (THE "CPUP SERP"). VESTING IN THE MED SERP OCCURS AFTER EVERY TEN YEARS OF PARTICIPATION AND UPON THE OCCURRENCE OF CERTAIN EVENTS (ATTAINMENT OF AGE 60, DEATH, DISABILITY, OR INVOLUNTARY TERMINATION WITHOUT "CAUSE"). CONTRIBUTIONS FOR THOSE WHO HAVE REACHED AGE 60 (WITH 2 OR MORE YEARS OF PARTICIPATION) WILL BE FULLY VESTED WHEN MADE. UPON REACHING A VESTING DATE, TAXES OWED WILL BE WITHDRAWN FROM THE PLAN, AND THE REMAINING AFTER-TAX BALANCE WILL REMAIN IN THE PLAN. PARTICIPANTS WILL AUTOMATICALLY RECEIVE A FULL DISTRIBUTION THE SUMMER AFTER THE YEAR IN WHICH THEY TERMINATE EMPLOYMENT, AT WHICH TIME ANY EARNINGS NOT YET TAXED WILL BE TREATED AS TAXABLE INCOME. PARTICIPANTS WHO VOLUNTARILY TERMINATE BEFORE VESTING WILL FORFEIT THE NON-VESTED BALANCE IN THEIR ACCOUNTS. THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN THE CPUP SERP PLAN DURING THE YEAR: DRISCOLL, DEBORAH A. - NO DISTRIBUTION WAXMAN, HARVEY L. - NO DISTRIBUTION ------------------------------

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PDCP 1740 FUND LP

    INVESTMENT · IL

    Directly controlled by NA

  • CYRUS 1740 FUND LP

    INVESTMENT · NY

    Directly controlled by NA

  • CYRUS 1740 MASTER FUND LP

    INVESTMENT · CJ

    Directly controlled by NA

  • DVG 1740 FUND LP

    INVESTMENT · CT

    Directly controlled by NA

  • EAST MARSHALL STREET PARTNERSHIP LP

    INVESTMENT · PA

    Directly controlled by NA

  • FERN HILL PARTNERSHIP III LP

    RENTAL · PA

    Directly controlled by NA

  • FERN HILL LLC

    RENTAL · PA

    Directly controlled by NA

  • GALLOPAVO LP

    INVESTMENT · TX

    Directly controlled by NA

  • JOG V C LIMITED PARTNERSHIP

    INVESTMENT · CA

    Directly controlled by NA

  • JOG VI C LIMITED PARTNERSHIP

    INVESTMENT · CA

  • KINGSTOWN 1740 FUND LP

    INVESTMENT · NY

    Directly controlled by NA

  • LANCASTER PET PARTNERSHIP LLP

    MEDICAL SERVICES · PA

    Directly controlled by NA

  • LG HEALTH COMM CARE COLLAB II

    ACO · PA

    Directly controlled by NA

  • LG HEALTH COMMUNITY CARE COLLABORATIVE

    ACO · PA

    Directly controlled by NA

  • MRI GROUP LLP

    MEDICAL SERVICES · PA

    Directly controlled by NA

  • NEIGHBRHD PRES & DEV FUND LP

    RENTAL · PA

    Directly controlled by NA

  • OAKLANDS WAY MEDICAL BUILDING ASSOCIATES

    RENTAL · PA

    Directly controlled by NA

  • SRP INVESTORS FUND A LP

    INVESTMENT · TX

    Directly controlled by NA

  • TURK'S HEAD SURGERY CENTER

    MEDICAL SERVICES · PA

    Directly controlled by NA

  • ST-TO RIBBIT OPPORTUNITY V LLC

    INVESTMENT · CA

    Directly controlled by NA

  • UNIVERSA BLACK SWAN PROTECTION PROTOCOL

    INVESTMENT · FL

    Directly controlled by NA

  • AXIS UKA GP LLC

    INVESTMENT · PA

    Directly controlled by NA

  • LIFT REAL ESTATE PARTNERS FUND II LP

    INVESTMENT · CA

    Directly controlled by NA

  • BEXP II (PARALLEL) LP

    INVESTMENT · TX

    Directly controlled by NA

  • FORERUNNER BUILDERS F-G LP

    INVESTMENT · CA

    Directly controlled by NA

  • GCM CARRIAGE SPV LP

    INVESTMENT · NY

    Directly controlled by NA

  • INITIALIZED CBH SPV LLC

    INVESTMENT · CA

    Directly controlled by NA

  • SAILINGSTONE GLOBAL NATURAL RESOURCES

    INVESTMENT · TX

    Directly controlled by NA

  • AUSTIN 512 LP

    INVESTMENT · TX

    Directly controlled by NA

  • BLACKSTONE REAL ESTATE PARTNERS VIITE5

    INVESTMENT · NY

    Directly controlled by NA

  • KEYFRAME 1740 FUND LP

    INVESTMENT · NY

    Directly controlled by NA

  • LIFT REAL ESTATE PARTNERS FUND III LP

    INVESTMENT · CA

    Directly controlled by NA

  • NEUBERGER BERMAN HEDGED CRYPTOCURRENCY

    INVESTMENT · NY

    Directly controlled by NA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ARCM 1740 LTD

    C-CORP · INVESTMENTS · CJ

    Directly controlled by TRUSTEES

  • CLINICAL HEALTH CARE ASSOC OF NJ PC

    C-CORP · PHYS MGMT · PA

    Directly controlled by CCA

  • DELANCEY CORPORATION

    C-CORP · RENTAL · PA

    Directly controlled by PA HOSPITAL

  • FRANKLIN CASUALTY INSURANCE CO

    C-CORP · INSURANCE · VT

    Directly controlled by TRUSTEES

  • LANCASTER GENERAL 457 DEFERRED COMP PLAN

    TRUST · TRUST · PA

    Directly controlled by LG HEALTH

  • LANCASTER GENERAL SERVICES INC

    C-CORP · PROPERTY SVCS · PA

    Directly controlled by LG HEALTH

  • NAYA 1740 FUND LTD

    C-CORP · INVESTMENTS · CJ

    Directly controlled by TRUSTEES

  • PENN MEDICINE LONDON LIMITED

    LIMITED COMPANY · NETWORKING · UK

    Directly controlled by UPENN INT'L

  • PENN WHARTON CONSULTING (BEIJING) CO LTD

    C-CORP · BUS. CONSULTING · CH

    Directly controlled by UPENN INT'L

  • PHI PHARMACY INC

    C-CORP · INACTIVE · NJ

    Directly controlled by PHCS HOLDING

  • PRINCETON HEALTH INC & SUBS

    C-CORP · MEDICAL · NJ

    Directly controlled by PHCS HOLDING

  • QUAKER INSURANCE COMPANY LTD

    C-CORP · SELF-INSURANCE · BD

    Directly controlled by TRUSTEES

  • THE PAM 1740 FUND LTD

    C-CORP · INVESTMENTS · CJ

    Directly controlled by TRUSTEES

  • TURK'S HEAD HEALTH SERVICES INC

    C-CORP · MEDICAL SERVICES · PA

    Directly controlled by CCH&HS

  • UPENN HOSPITALITY INC

    C-CORP · HOTEL/RESTAURANT · PA

    Directly controlled by TRUSTEES

  • CYRUS 1740 FUND LTD

    LIMITED COMPANY · INVESTMENTS · CJ

    Directly controlled by TRUSTEES

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202521349349312162

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