Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: INSTITUTIONAL SUPPORT

  total $15,821,865 · related or exempt $15,821,865

• 3 · Investment income

  total $242,583 · excluded $242,583

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $17,849,507 · program services $13,369,657 · management and general $4,479,850

• 9 · Other employee benefits

  total $3,802,360 · program services $2,848,048 · management and general $954,312

• 11g · Fees: other

  total $2,075,612 · program services $1,554,677 · management and general $520,935

• 13 · Office expenses

  total $25,023 · program services $18,743 · management and general $6,280

• 16 · Occupancy

  total $315,897 · program services $315,897

• 17 · Travel

  total $20,503 · program services $15,357 · management and general $5,146

• 19 · Conferences, conventions and meetings

  total $69,312 · program services $69,312

• 21 · Payments to affiliates

  total $65,946 · program services $65,946

• 22 · Depreciation, depletion and amortization

  total $3,024 · program services $2,265 · management and general $759

• 23 · Insurance

  total $126,000 · program services $126,000

• 24a · Other expenses: CORPORATE ALLOCATIONS

  total $5,256,072 · program services $3,936,909 · management and general $1,319,163

• 24b · Other expenses: MEDICAL & SURGICAL SUPP

  total $60,772 · program services $60,772

• 24c · Other expenses: DUES & LICENCES

  total $9,761 · program services $7,311 · management and general $2,450

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $33,777,475 · end of year $33,960,923

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

  $21,167

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

  $7,560

• 10c · Land, buildings and equipment, net

  beginning of year $16,631 · end of year $13,607

• 11 · Investments: publicly traded securities

  beginning of year $5,946,041 · end of year $6,364,668

• 15 · Other assets

  beginning of year $57,676,186 · end of year $66,655,976

• 17 · Accounts payable and accrued expenses

  beginning of year $4,253,174 · end of year $2,951,363

• 25 · Other liabilities

  beginning of year $84,003,288 · end of year $93,605,850

• 27 · Net assets without donor restrictions

  beginning of year $9,159,871 · end of year $10,437,961

The filer's explanations (Part III)

PART I, LINE 4B

BOSTON MEDICAL CENTER PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN TO CERTAIN EXECUTIVES. AMOUNTS ARE CREDITED TO PARTICIPANTS' ACCOUNTS EACH YEAR. PLAN AMOUNTS ARE SUBJECT TO FORFEITURE AND PAYMENT ONLY IF CERTAIN CONDITIONS ARE MET, AS OUTLINED IN THE PLAN AGREEMENT. AMOUNTS VEST ON SPECIFIED DATES BASED ON CONTINUED EMPLOYEMENT BUT NO LATER THAN THE EXECUTIVE'S SIXTY-SECOND BIRTHDAY. AMOUNTS ACCRUED IN THE PLAN ARE REPORTED IN SCHEDULE J, PART II, COLUMN (C). FOR ALASTAIR BELL, $88,458 WAS CONTRIBUTED IN 2019 AND BECAME VESTED AND WAS PAID IN 2022. THIS AMOUNT IS REFLECTED IN SCHEDULE J, PART II, COLUMN (B)(III). BOSTON MEDICAL CENTER PROVIDED A 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN TO DAVID BECK AND KATHLEEN WALSH. BOTH EXECUTIVES HAVE REACHED THE PLAN RETIREMENT AGE AND HAVE VESTED 100% IN THE PLAN. IN ADDITION, PURSUANT TO THE TERMS OF THE PLAN, ONCE THE PLAN PARTICIPANT REACHES THE PLAN RETIREMENT AGE, ALL FUTURE CONTRIBUTIONS ARE MADE IN CASH. ACCORDINGLY, 2022 CONTRIBUTIONS OF $53,400 AND $277,500 WERE PAID DIRECTLY TO DAVID BECK AND KATHLEEN WALSH, RESPECTIVELY, IN 2022. THESE AMOUNTS ARE REFLECTED IN SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 3:

FACULTY PRACTICE FOUNDATION'S RELATED ORGANIZATIONS USED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.