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Nonprofiteer
← FACULTY PRACTICE FOUNDATION INC

Form 990 for tax year 2024

Filed by FACULTY PRACTICE FOUNDATION INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2024 , filed 12 August 2026. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$4,442,400 changed to $23,083,096
Total expenses
$6,952,489 changed to $33,979,155
Program service revenue
$4,293,086 changed to $22,342,141
Investment income
$149,314 changed to $740,955
Total assets, end of year
$106,090,760 changed to $95,791,618
Total liabilities, end of year
$95,874,735 changed to $84,569,960
Net assets or fund balances, end of year
$10,216,025 changed to $11,221,658
Program services expenses
$5,323,766 changed to $24,622,774
Management and general expenses
$1,628,723 changed to $9,356,381
Program service expenses (Part III)
$5,323,766 changed to $24,622,774

Listed only on the earlier return

  • Anita Carson
  • Rena Conti PhD

Listed only on the later return

  • Aviva Lee-Parritz MD
  • Hee-Young Park PhD
  • Jennifer Tseng MD
  • Rena Conti
  • Stephen Christiansen MD
  • Vicki Jackson MD MPH

Listed under a different title

  • Gregory Grillone MD: TREASURER, TRUSTEE then TREASURER/TRUSTEE
  • Karen Antman MD: TRUSTEE then TRUSTEE (UNTIL 7/1/25)
  • Sushrut Waikar MD MPH: TRUSTEE then TRUSTEE (UNTIL 9/2/25)

Totals

Total revenue
$4,442,400
Total expenses
$6,952,489
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,293,086
Investment income
$149,314
Other revenue
$0
Total assets, end of year
$106,090,760
Total liabilities, end of year
$95,874,735
Net assets or fund balances, end of year
$10,216,025
Program services expenses (Part IX)
$5,323,766
Management and general expenses
$1,628,723
Fundraising expenses
$0
Program service expenses (Part III)
$5,323,766

Program services were 76.6% 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.

  • 2a · Program service revenue: INSTITUTIONAL SUPPORT

    total $4,293,086 · related or exempt $4,293,086

  • 3 · Investment income

    total $149,314 · excluded $149,314

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $3,972,941 · program services $2,939,976 · management and general $1,032,965

  • 9 · Other employee benefits

    total $1,025,590 · program services $758,937 · management and general $266,653

  • 11g · Fees: other

    total $770,618 · program services $770,618

  • 13 · Office expenses

    total $22,139 · program services $16,383 · management and general $5,756

  • 16 · Occupancy

    total $59,713 · management and general $59,713

  • 17 · Travel

    total $457 · program services $338 · management and general $119

  • 19 · Conferences, conventions and meetings

    total $32,527 · program services $32,527

  • 21 · Payments to affiliates

    total $34,627 · program services $34,627

  • 22 · Depreciation, depletion and amortization

    total $762 · program services $564 · management and general $198

  • 23 · Insurance

    total $8,891 · program services $8,891

  • 24a · Other expenses: CORPORATE ALLOCATIONS

    total $1,001,404 · program services $741,039 · management and general $260,365

  • 24b · Other expenses: MED/SURG SUPPLIES

    total $11,458 · program services $11,458

  • 24c · Other expenses: DUES & LICENSES

    total $11,362 · program services $8,408 · management and general $2,954

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $34,401,236 · end of year $35,406,216

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

    $21,167

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

    $11,346

  • 10c · Land, buildings and equipment, net

    beginning of year $10,583 · end of year $9,821

  • 11 · Investments: publicly traded securities

    beginning of year $7,013,678 · end of year $7,405,175

  • 15 · Other assets

    beginning of year $64,160,873 · end of year $63,269,548

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,529,115 · end of year $9,377,135

  • 25 · Other liabilities

    beginning of year $85,549,167 · end of year $86,497,600

  • 27 · Net assets without donor restrictions

    beginning of year $11,508,088 · end of year $10,216,025

Mission and programs · 2024

Mission

SEE SCHEDULE O.

  • SEE SCHEDULE O.

    Expenses $5,323,766 · Revenue $4,293,086

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

Listed in Part VII

  • Karen Antman MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Christian Arbelaez MD MPH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Anita Carson

    TRUSTEE (UNTIL 9/25/24)

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Rena Conti PhD

    TRUSTEE (AS OF 9/25/24)

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • William Creevy MD

    TRUSTEE/PRESIDENT

    Total calculated
    $0
    Hours/week
    32 + 22 related

  • Thamarah Crevecoeur Cnm

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Manishi Desai MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Meghan Dierks MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Alik Farber MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Gregory Grillone MD

    TREASURER, TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Anthony Hollenberg MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Monica Noether PhD

    TRUSTEE/CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Jacob Pieter Noordzij MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Manju Subramanian MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 50 related

  • Sushrut Waikar MD MPH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4 + 55 related

  • Richard Sugarman

    CLERK

    Total calculated
    $0
    Hours/week
    4 + 55 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.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
13 August 2025
IRS schema version
2024v5.2
Source object
202542259349303019

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