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Nonprofiteer
← MILFORD REGIONAL PHYSICIAN GROUP INC

Form 990 for tax year 2023

Filed by MILFORD REGIONAL PHYSICIAN GROUP INC.

Totals

Total revenue
$117,778,319
Total expenses
$127,778,817
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$117,780,463
Investment income
-$2,144
Other revenue
$0
Total assets, end of year
$68,077,135
Total liabilities, end of year
$64,907,756
Net assets or fund balances, end of year
$3,169,379
Program services expenses (Part IX)
$124,436,111
Management and general expenses
$3,342,706
Fundraising expenses
$0
Program service expenses (Part III)
$124,436,111

Program services were 97.4% 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: Primary Physician Care

    total $43,619,718 · related or exempt $43,619,718 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Specialty Physician Care

    total $47,875,537 · related or exempt $47,666,845 · unrelated business $208,692 · excluded $0

  • 2c · Program service revenue: Inpatient Physician Care

    total $13,303,341 · related or exempt $13,303,341 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Urgent Care

    total $12,981,867 · related or exempt $12,981,867 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

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

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets -$2,144

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets -$2,144

  • 7d · Net gain or loss

    total -$2,144 · related or exempt -$2,144 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,054,725 · program services $286,695 · management and general $768,030 · fundraising $0

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $77,993,569 · program services $76,553,927 · management and general $1,439,642 · fundraising $0

  • 8 · Pension plan contributions

    total $3,231,431 · program services $3,211,385 · management and general $20,046 · fundraising $0

  • 9 · Other employee benefits

    total $7,993,441 · program services $7,825,830 · management and general $167,611 · fundraising $0

  • 10 · Payroll taxes

    total $4,833,914 · program services $4,741,743 · management and general $92,171 · fundraising $0

  • 11a · Fees: management

    total $3,712,724 · program services $3,664,239 · management and general $48,485 · fundraising $0

  • 11b · Fees: legal

    total $59,892 · program services $0 · management and general $59,892 · fundraising $0

  • 11c · Fees: accounting

    total $7,447 · program services $0 · management and general $7,447 · fundraising $0

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

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

  • 11g · Fees: other

    total $4,312,488 · program services $4,312,488 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $15,514 · program services $15,514 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $14,813,378 · program services $14,641,794 · management and general $171,584 · fundraising $0

  • 14 · Information technology

    total $631,737 · program services $586,225 · management and general $45,512 · fundraising $0

  • 15 · Royalties

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

  • 16 · Occupancy

    total $6,198,645 · program services $6,198,645 · management and general $0 · fundraising $0

  • 17 · Travel

    total $28,650 · program services $25,563 · management and general $3,087 · fundraising $0

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

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

  • 20 · Interest

    total $274,027 · program services $274,027 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

    total $990,154 · program services $980,494 · management and general $9,660 · fundraising $0

  • 23 · Insurance

    total $1,488,297 · program services $1,024,570 · management and general $463,727 · fundraising $0

  • 24a · Other expenses: Micellaneous

    total $138,784 · program services $92,972 · management and general $45,812 · fundraising $0

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year -$173,284 · end of year $1,313,221

  • 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 $11,231,717 · end of year $10,040,999

  • 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 $93,839 · end of year $85,336

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,549,963 · end of year $1,983,957

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

    $16,963,945

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

    $13,817,927

  • 10c · Land, buildings and equipment, net

    beginning of year $3,219,069 · end of year $3,146,018

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 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 $36,875,268 · end of year $51,507,604

  • 17 · Accounts payable and accrued expenses

    beginning of year $49,593,895 · end of year $64,592,492

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $9,896

  • 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 $309,201 · end of year $305,368

  • 27 · Net assets without donor restrictions

    beginning of year $2,893,476 · end of year $3,169,379

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

Our primary mission at Milford Regional Healthcare System, which includes Milford Regional Medical Center and Milford Regional Physician Group, is to provide exceptional healthcare services to all individuals in our community with dignity, compassion and respect.

Activities or mission (Part I)

Milford Regional Physicians Group is a large multi-specialty physician group practice with emphasis on primary care. Our mission is to provide healthcare services to all individuals in our community with dignity, compassion, and respect. The vision of Milford Regional Physician Group is to consistently meet the changing healthcare needs and expectations of the communities we serve.

  • Milford Regional Physicians Group has 16 primary care offices servicing the 20 communities of Central Massachusetts. Guided by its mission "to provide quality healthcare services to our community with dignity, compassion, and respect", MRPG strives to be responsive to diverse constituencies, individuals and families of all ages, employees and employers of large and small business, physicians and other healthcare providers. As a charitable organization, we acknowledge out special concern for the need of the unserved and the undeserved, especially the poor and the minority populations. Our 49 primary care doctors concentrate in the three following disciplines: Internal Medicine, Family Medicine and Pediatrics. Patients of MRPG visited our primary care offices approximately 162,934 times in 2024. These primary care providers work in collaboration with specialists and the hospital in our service area using a team approach to provide the best health care possible for the member of our community. The availability of quality primary care is a priority to our organization, support the mission of Milford Regional Physician Group, Inc., and strengthens its ability to reach important strategic goals related to primary care.

    Expenses $42,816,374 · Revenue $43,619,718

  • Milford Regional Physicians Group has 21 specialist groups servicing the 20 communities of Central Massachusetts. The group of 48 specialists includes pulmonary and critical care, rheumatology, urology, obstetrics and gynecology, endocrinology, sleep medicine, ear nose & throat, and more. Our Lung Allergy & Sleep Pulmonary & Critical Care specialists have expertise in a range of respiratory conditions including but not limited to: lung cancer diagnosis and treatment; chronic obstructive lung diseases including asthma; pulmonary vascular disease including pulmonary hypertension; respiratory failure; and lung infections. Our Rheumatologist specializes in the diagnosis and treatment of arthritis and other diseases of the muscles, joints and bones. Our Urologists perform the evaluation and treatment of diseases of the male and female urinary tract. Our Obstetrics & Gynecology providers manage pregnancy, labor and childbirth, as well as the diagnosis and treatment of diseases of the female reproductive system. Our Endocrinologist specializes in diagnosing and treating diseases that affect the endocrine system. In addition, we work closely with the diabetes program at Milford Regional Medical Center to provide a range of services to help optimize diabetes management. Our Sleep Center conducts polysomnograms to diagnose various sleep disorders, the most common of which is Obstructive Sleep Apnea. Our Ear, Nose and Throat specialists are trained in the medical and surgical treatment of the ears, nose, throat and related structures of the head and neck. Our Cardiologists specialize in the diagnosis and treatment of cardiac disorders such as arrhythmia, hypertension, congestive heart failure, coronary artery disease, and heart attack. Our Orthopedists evaluate and treat conditions of the musculoskeletal system, extremities, joints, muscles, tendons and ligaments.

    Expenses $55,813,716 · Revenue $47,875,537

  • Milford Regional Physicians Group has an active hospitalists program that serves the inpatients at Milford Regional Medical Center. Our 26 hospitalists work in collaboration with our primary care physicians to provide well coordinated care to our patients while they are hospitalized. The hospitalists can also make on-the-spot decisions about patient care, follow up on test results and modify treatment plans immediately, if necessary. They provide continuity of care, answer questions and provide emotional support to patients and their families.

    Expenses $14,028,155 · Revenue $13,303,341

  • Milford Regional Physicians Group has 5 Urgent Care Centers that offers convenient walk-in service to treat patients for non-emergent illnesses and injuries. Care is provided by 6 physicians and 17 advance practitioners. MRPG opened its fifth Urgent Care location in September 2024. Laboratory and x-ray services are available on site. The Urgent Care Centers treated patients approximately 62,529 times in 2024.

    Expenses $11,777,866 · Revenue $12,981,867

As filed on the 2023 return.

Listed in Part VII

  • Patrick McSweeney

    President

    Total calculated
    $701,773
    From this org
    $609,715
    From related orgs
    $0
    Other
    $92,058
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $519,152
    Bonus
    $90,563
    Other
    $0
    Deferred
    $55,176
    Nontaxable benefits
    $36,882
    Filer's total
    $701,773

  • Susan Finnegan Barrett

    Physician

    Total calculated
    $665,063
    From this org
    $574,853
    From related orgs
    $60,000
    Other
    $30,210
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $539,523 + $60,001 related
    Bonus
    $35,330
    Other
    $0
    Deferred
    $3,490 + $589 related
    Nontaxable benefits
    $26,130
    Filer's total
    $604,473 + $60,590 related

  • Eddie Michli

    Physician

    Total calculated
    $662,895
    From this org
    $614,623
    From related orgs
    $48,272
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $614,623
    Bonus
    $0
    Other
    $0
    Deferred
    $6,911
    Nontaxable benefits
    $41,362
    Filer's total
    $662,896

  • Michael McCormick

    Physician

    Total calculated
    $656,293
    From this org
    $603,859
    From related orgs
    $52,434
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $603,859
    Bonus
    $0
    Other
    $0
    Deferred
    $42,534
    Nontaxable benefits
    $9,900
    Filer's total
    $656,293

  • Kathleen Richard

    Physican

    Total calculated
    $617,238
    From this org
    $569,463
    From related orgs
    $47,775
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $569,463
    Bonus
    $0
    Other
    $0
    Deferred
    $6,645
    Nontaxable benefits
    $41,131
    Filer's total
    $617,239

  • Christopher Baranano

    Physician

    Total calculated
    $616,099
    From this org
    $574,906
    From related orgs
    $41,193
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $574,906
    Bonus
    $0
    Other
    $0
    Deferred
    $40,285
    Nontaxable benefits
    $909
    Filer's total
    $616,100

  • Andrew Willment

    Trustee

    Total calculated
    $370,533
    From this org
    $352,597
    From related orgs
    $0
    Other
    $17,936
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $352,597
    Bonus
    $0
    Other
    $0
    Deferred
    $2,723
    Nontaxable benefits
    $15,213
    Filer's total
    $370,533

  • Mary O'Neill

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Sandra Clark

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Anthony Consigli

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Jamie Doucette

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Nutting

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Denise Brookhouse

    Clerk

    Total calculated
    $0
    Hours/week
    1

  • Shefali Desai

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Gordon Lewis

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Linda Mancini

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Gerald Gaudette

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Barbara Gilmore

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Brian Earley

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Christopher Foley

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • John Fernandes

    Trustee

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 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 4
Patrick McSweeney participates in a SERP with contributions totaling $45,282 for the year. Eddie Michli, Michael McCormick, Christopher Baranano, Kathleen Richard, and Andrew Willment all participate in a 457B and each had contribution of $15,000 this year.
Schedule J, Part I, Line 5
Compensation for some physicians is based on a productivity model where the physicians are paid a fixed dollar amount for each Work Relative Value Unit (RVU). Work RVUs are determined by CMS (Medicare) to measure work performed by physicians.
Schedule J, Part I, Line 7
Primary Care physicians who are on the RVU-based productivity model are eligible to receive compensation based on the number of patients in their panels. In addition, they are also eligible to receive compensation based on the number of new patients they see throughout the year.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 August 2025
IRS schema version
2023v6.0
Source object
202512269349303151

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