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Nonprofiteer
← BOSTON PEDIATRIC NEUROSURGICAL FOUNDATION INC

Form 990 for tax year 2022

Filed by BOSTON PEDIATRIC NEUROSURGICAL FOUNDATION INC.

Totals

Total revenue
$17,555,696
Total expenses
$19,923,981
Contributions and grants received
$303,570
Grants paid
$2,465,684
Program service revenue
$17,084,096
Investment income
$168,030
Other revenue
$0
Total assets, end of year
$21,040,935
Total liabilities, end of year
$9,171,307
Net assets or fund balances, end of year
$11,869,628
Program services expenses (Part IX)
$18,257,191
Management and general expenses
$1,666,790
Fundraising expenses
$0
Program service expenses (Part III)
$18,257,191

Program services were 91.6% 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.

  • 1d · Related organizations

    $281,570

  • 1f · All other contributions, gifts and grants

    $22,000

  • 2a · Program service revenue: Patient Service Revenue

    total $15,292,635 · related or exempt $15,292,635

  • 2b · Program service revenue: Other Revenue

    total $1,583,061 · related or exempt $1,583,061

  • 2c · Program service revenue: Education & Research

    total $208,400 · related or exempt $208,400

  • 3 · Investment income

    total $178,885 · unrelated business $3,129 · excluded $175,756

  • 7a · Gross sales of assets other than inventory

    securities $1,953,664

  • 7b · Less cost or other basis and sales expenses

    securities $1,964,519

  • 7c · Gain or loss

    securities -$10,855

  • 7d · Net gain or loss

    total -$10,855 · excluded -$10,855

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,465,684 · program services $2,465,684

  • 5 · Compensation of officers, directors and key employees

    total $10,663,843 · program services $10,663,843

  • 7 · Other salaries and wages

    total $2,602,307 · program services $1,523,692 · management and general $1,078,615

  • 9 · Other employee benefits

    total $606,025 · program services $269,595 · management and general $336,430

  • 10 · Payroll taxes

    total $255,825 · program services $252,573 · management and general $3,252

  • 11b · Fees: legal

    total $10,074 · management and general $10,074

  • 11c · Fees: accounting

    total $35,369 · management and general $35,369

  • 11f · Fees: investment management

    total $3,136 · management and general $3,136

  • 11g · Fees: other

    total $160,362 · management and general $160,362

  • 13 · Office expenses

    total $647,753 · program services $637,492 · management and general $10,261

  • 16 · Occupancy

    total $106,622 · program services $106,622

  • 17 · Travel

    total $148,949 · program services $148,949

  • 19 · Conferences, conventions and meetings

    total $70,884 · program services $70,884

  • 22 · Depreciation, depletion and amortization

    total $2,188 · program services $2,188

  • 23 · Insurance

    total $648,767 · program services $619,476 · management and general $29,291

  • 24a · Other expenses: PO dues

    total $469,661 · program services $469,661

  • 24b · Other expenses: Coordinated Specialty P

    total $435,122 · program services $435,122

  • 24c · Other expenses: Net Patient Service Rev

    total $305,853 · program services $305,853

  • 24d · Other expenses: Billing services

    total $269,546 · program services $269,546

  • 24e · All other expenses

    total $16,011 · program services $16,011

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,801,470 · end of year $2,144,274

  • 2 · Savings and temporary cash investments

    beginning of year $1,739,357 · end of year $4,765,180

  • 4 · Accounts receivable

    beginning of year $2,128,058 · end of year $2,408,064

  • 5 · Loans and receivables from officers and key people

    beginning of year $200,000 · end of year $234,000

  • 7 · Other notes and loans receivable

    beginning of year $100,000 · end of year $100,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $141,214 · end of year $152,935

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

    $233,636

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

    $231,314

  • 10c · Land, buildings and equipment, net

    beginning of year $4,510 · end of year $2,322

  • 11 · Investments: publicly traded securities

    beginning of year $2,987,596 · end of year $2,856,272

  • 12 · Investments: other securities

    beginning of year $6,887,078 · end of year $7,463,438

  • 15 · Other assets

    beginning of year $2,259,361 · end of year $914,450

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,136,905 · end of year $2,153,271

  • 18 · Grants payable

    beginning of year $99,955 · end of year $2,480,839

  • 25 · Other liabilities

    beginning of year $5,721,960 · end of year $4,537,197

  • 27 · Net assets without donor restrictions

    beginning of year $12,609,910 · end of year $11,406,286

  • 28 · Net assets with donor restrictions

    beginning of year $679,914 · end of year $463,342

Mission and programs · 2022

Mission

The Foundation provides neurosurgical services primarily to patients at Boston Children's Hospital and at satellite locations. The Foundation carries on and promotes basic and applied medical research and education in the field of neurosurgery by (see Schedule O) teaching students and other medical and scientific personnel. The Foundation also provides care for patients regardless of their ability to pay.

Activities or mission (Part I)

The Foundation provides neurosurgical services primarily to patients at (see Schedule O) Boston Children's Hospital and at satellite locations. The Foundation also provides care for patients regardless of their ability to pay, as well as providing and supporting hospital and community based services that are either unavailable or limited elsewhere in the community.

  • The Foundation provides neurosurgical services primarily to patients at Boston Children's Hospital, Brigham and Women's Hospital, Inc., and at satellite locations. The Foundation may charge for patient care and other medical services, provided that any net income is used for the charitable, scientific, and educational purposes for which the Foundation was created. The Foundation also provides care for patients regardless of their ability to pay, as well as providing and supporting hospital and community based services that are either unavailable or limited elsewhere in the community.

    Expenses $16,796,619 · Grants $2,465,684 · Revenue $16,875,696

  • The Foundation receives income from Boston Children's Hospital for providing administration, supervision, and teaching services. The Foundation carries on and promotes basic and applied medical research and education in the field of neurosurgery by teaching students and other medical and scientific personnel; by providing research grants; giving lectures; and publishing information concerning problems and research results in the field of pediatric neurosurgery in order to educate the general public and the medical profession.

    Expenses $1,460,572 · Revenue $208,400

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Pok-Meng See MD

    Director

    Total calculated
    $874,568
    From this org
    $783,821
    From related orgs
    $0
    Other
    $90,747
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $455,250
    Bonus
    $248,481
    Other
    $80,090
    Deferred
    $63,000
    Nontaxable benefits
    $27,747
    Filer's total
    $874,568

  • Mark R Proctor MD

    President

    Total calculated
    $1,455,755
    From this org
    $1,364,973
    From related orgs
    $0
    Other
    $90,782
    Hours/week
    55 + 5 related

    Schedule J breakdown matched by us

    Base
    $816,713
    Bonus
    $511,566
    Other
    $36,694
    Deferred
    $63,000
    Nontaxable benefits
    $27,782
    Filer's total
    $1,455,755

  • Edward R Smith MD

    Clerk/Treasurer

    Total calculated
    $1,260,858
    From this org
    $1,133,773
    From related orgs
    $0
    Other
    $127,085
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $665,456
    Bonus
    $280,187
    Other
    $188,130
    Deferred
    $63,000
    Nontaxable benefits
    $64,085
    Filer's total
    $1,260,858

  • Benjamin C Warf MD

    Director

    Total calculated
    $1,258,676
    From this org
    $1,133,018
    From related orgs
    $0
    Other
    $125,658
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $634,362
    Bonus
    $427,040
    Other
    $71,616
    Deferred
    $63,000
    Nontaxable benefits
    $62,658
    Filer's total
    $1,258,676

  • Scellig S Stone MD

    Director

    Total calculated
    $1,059,382
    From this org
    $932,474
    From related orgs
    $0
    Other
    $126,908
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $520,354
    Bonus
    $345,638
    Other
    $66,482
    Deferred
    $63,000
    Nontaxable benefits
    $63,908
    Filer's total
    $1,059,382

  • Katie P Fehnel MD

    Director

    Total calculated
    $928,404
    From this org
    $854,149
    From related orgs
    $0
    Other
    $74,255
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $478,897
    Bonus
    $279,840
    Other
    $95,412
    Deferred
    $63,000
    Nontaxable benefits
    $11,255
    Filer's total
    $928,404

  • Joseph R Madsen MD

    Director

    Total calculated
    $754,439
    From this org
    $619,716
    From related orgs
    $0
    Other
    $134,723
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $574,624
    Bonus
    $0
    Other
    $45,092
    Deferred
    $63,000
    Nontaxable benefits
    $71,723
    Filer's total
    $754,439

  • Lissa C Baird MD

    Director

    Total calculated
    $1,494,811
    From this org
    $1,404,064
    From related orgs
    $0
    Other
    $90,747
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $603,269
    Bonus
    $681,750
    Other
    $119,045
    Deferred
    $63,000
    Nontaxable benefits
    $27,747
    Filer's total
    $1,494,811

  • Weston Northam MD

    Director

    Total calculated
    $226,503
    From this org
    $187,408
    From related orgs
    $0
    Other
    $39,095
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $158,495
    Bonus
    $0
    Other
    $28,913
    Deferred
    $26,667
    Nontaxable benefits
    $12,428
    Filer's total
    $226,503

  • Physicians Org at CH Inc

    Institutional Trustee

    Total calculated
    $0
    Hours/week
    2

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

  • 1a · Tax indemnification and gross-up payments
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

Part I, Line 1a
Effective July 1, 1996, Boston Pediatric Neurosurgical Foundation, Inc. (the Foundation) established a tuition assistance plan to provide reimbursement of tuition-related expenses to eligible employees. Participants, selected by the Foundation's President in consultation with the full professors of the Foundation and legal counsel, must provide services to the Foundation as an employee or as a member of the Board of Directors. Amounts paid under this plan include approved school related living expenses. Employees who participated in this plan have these amounts included on their W-2's. Tuition-related expense reimbursements for the year ended September 30, 2023 were paid to Edward R. Smith, MD, $119,126 and Joseph R. Madsen, MD, $9,470. The Foundation also provides gross-up payments for mortgage forgiveness, long-term disability insurance, and life insurance. These payments are included as taxable wages during the year. All permanent full-time employees of the Foundation are eligible for gross-up payments.
Part I, Line 7
The overall compensation package is based on the employee's academic rank for direct and indirect compensation under the Boston Children's Hospital guidelines. Bonuses are reviewed and approved by the Chief.

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
5 August 2024
IRS schema version
2022v5.0
Source object
202442209349300339

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