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Nonprofiteer
← MILFORD REGIONAL PHYSICIAN GROUP INC

Form 990 for tax year 2022

Filed by MILFORD REGIONAL PHYSICIAN GROUP INC.

Totals

Total revenue
$115,595,967
Total expenses
$124,549,917
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$115,595,723
Investment income
$244
Other revenue
$0
Total assets, end of year
$52,796,572
Total liabilities, end of year
$49,903,096
Net assets or fund balances, end of year
$2,893,476
Program services expenses (Part IX)
$121,610,706
Management and general expenses
$2,939,211
Fundraising expenses
$0
Program service expenses (Part III)
$121,610,706

Program services were 97.6% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Primary Physician Care

    total $42,416,781 · related or exempt $42,416,781 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Specialty Physician Care

    total $47,190,336 · related or exempt $47,190,336 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Inpatient Physician Care

    total $13,291,736 · related or exempt $13,291,736 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Urgent Care

    total $12,696,870 · related or exempt $12,696,870 · 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 $4,244 · related or exempt $4,244 · 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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets -$4,000

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets -$4,000

  • 7d · Net gain or loss

    total -$4,000 · related or exempt -$4,000 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · 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 $1,584,027 · program services $905,457 · management and general $678,570 · fundraising $0

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $76,153,014 · program services $74,819,333 · management and general $1,333,681 · fundraising $0

  • 8 · Pension plan contributions

    total $2,008,802 · program services $1,966,959 · management and general $41,843 · fundraising $0

  • 9 · Other employee benefits

    total $6,898,692 · program services $6,796,768 · management and general $101,924 · fundraising $0

  • 10 · Payroll taxes

    total $4,604,163 · program services $4,511,992 · management and general $92,171 · fundraising $0

  • 11a · Fees: management

    total $3,928,756 · program services $3,872,105 · management and general $56,651 · fundraising $0

  • 11b · Fees: legal

    total $108,248 · program services $0 · management and general $108,248 · fundraising $0

  • 11c · Fees: accounting

    total $20,160 · program services $0 · management and general $20,160 · 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 $4,420,532 · program services $4,440,532 · management and general -$20,000 · fundraising $0

  • 12 · Advertising and promotion

    total $26,262 · program services $26,262 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $16,139,860 · program services $15,963,679 · management and general $176,181 · fundraising $0

  • 14 · Information technology

    total $359,595 · program services $351,296 · management and general $8,299 · fundraising $0

  • 15 · Royalties

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

  • 16 · Occupancy

    total $5,740,817 · program services $5,740,817 · management and general $0 · fundraising $0

  • 17 · Travel

    total $27,521 · program services $23,262 · management and general $4,259 · 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 $0 · program services $0 · 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 $1,135,461 · program services $1,123,313 · management and general $12,148 · fundraising $0

  • 23 · Insurance

    total $1,272,690 · program services $1,016,828 · management and general $255,862 · fundraising $0

  • 24a · Other expenses: All other expenses

    total $121,317 · program services $52,103 · management and general $69,214 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year -$129,455 · end of year -$173,284

  • 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 $10,291,792 · end of year $11,231,717

  • 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 $98,921 · end of year $93,839

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,696,784 · end of year $1,549,963

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

    $16,297,365

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

    $13,078,296

  • 10c · Land, buildings and equipment, net

    beginning of year $3,879,685 · end of year $3,219,069

  • 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 $37,309,999 · end of year $36,875,268

  • 17 · Accounts payable and accrued expenses

    beginning of year $49,903,230 · end of year $49,593,895

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 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 $653,606 · end of year $309,201

  • 27 · Net assets without donor restrictions

    beginning of year $3,590,890 · end of year $2,893,476

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

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 Physician Group has 18 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 our special concern for the need of unserved and the underserved, especially the poor and minority populations. Our 50 primary care providers concentrate in the three following disciplines: Internal Medicine, Family Medicine, and Pediatrics. Patients of MRPG visited our primary care offices approximately 166,607 times in 2023. These primary care providers work in collaboration with specialists and the hospitals in our service area using a team approach to provide the best health care possible for the members 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 $42,152,168 · Revenue $42,416,781

  • Milford Regional Physician Group has 22 specialist groups servicing 20 communities of Central Massachusetts. The group of 44 specialists including pulmonary and critical care, rheumatology, urology, obstetrics and gynecology, endocrinology, sleep medicine, ear nose & throat, and more. Our Lung Allergy & Sleep Pulmonary & Critical Care specialist have expertise in a range of respiratory conditions including but not limited to: lung cancer diagnosis and treatment: chronic obstructive lung disease including asthma; pulmonary vascular disease including pulmonary hypertension; respiratory failure; and lung infections. Our Rheumatologist specializes in the diagnoses and treatment of 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 and throat and related structures of the head and neck. As Medical Director for the Breast Center our Surgical Breast specialist develops a multi-disciplinary team approach to all issues related to breast health and diseases. 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 $53,979,873 · Revenue $47,190,336

  • Milford Regional Physician Group has an active hospitalist program that serves the Inpatients of Milford Regional Medical Center. Our 25 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 $13,920,006 · Revenue $13,291,736

  • Milford Regional Physician Group has 4 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 12 advance practitioners. Laboratory and x-ray services are available on site. The Urgent Care Centers treated patients approximately 60,387 times in 2023.

    Expenses $11,558,659 · Revenue $12,696,870

As filed on the 2022 return.

Listed in Part VII

  • Patrick McSweeney

    President

    Total calculated
    $699,535
    From this org
    $635,986
    From related orgs
    $0
    Other
    $63,549
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $500,459
    Bonus
    $81,415
    Other
    $54,112
    Deferred
    $37,579
    Nontaxable benefits
    $25,970
    Filer's total
    $699,535

  • Eddie Michli

    Physician

    Total calculated
    $663,235
    From this org
    $621,880
    From related orgs
    $0
    Other
    $41,355
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $621,880
    Bonus
    $0
    Other
    $0
    Deferred
    $1,058
    Nontaxable benefits
    $40,297
    Filer's total
    $663,235

  • Christopher Baranano

    Physician

    Total calculated
    $658,770
    From this org
    $619,592
    From related orgs
    $0
    Other
    $39,178
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $619,592
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $39,178
    Filer's total
    $658,770

  • Michael McCormick

    Physician

    Total calculated
    $639,373
    From this org
    $582,562
    From related orgs
    $6,139
    Other
    $50,672
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $582,562
    Bonus
    $0
    Other
    $0 + $6,139 related
    Deferred
    $9,150
    Nontaxable benefits
    $41,522
    Filer's total
    $633,234 + $6,139 related

  • Jane Curl

    Physican

    Total calculated
    $623,750
    From this org
    $556,916
    From related orgs
    $17,139
    Other
    $49,695
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $556,916
    Bonus
    $0
    Other
    $0 + $17,139 related
    Deferred
    $8,912 + $238 related
    Nontaxable benefits
    $40,545
    Filer's total
    $606,373 + $17,377 related

  • Susan Finnegan Barrett

    Physician

    Total calculated
    $612,945
    From this org
    $550,546
    From related orgs
    $61,847
    Other
    $552
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $550,546
    Bonus
    $0
    Other
    $0 + $61,847 related
    Deferred
    $0
    Nontaxable benefits
    $552
    Filer's total
    $551,098 + $61,847 related

  • Diana Caragacianu

    Trustee

    Total calculated
    $471,539
    From this org
    $432,892
    From related orgs
    $0
    Other
    $38,647
    Hours/week
    50

  • Richard Daly

    Trustee

    Total calculated
    $422,838
    From this org
    $374,130
    From related orgs
    $0
    Other
    $48,708
    Hours/week
    50

  • Mary O'Neill

    Trustee

    Total calculated
    $930
    From this org
    $0
    From related orgs
    $930
    Other
    $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 + 1 related

  • 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

  • William Muller

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Beverly Smymer

    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 $38,812.80 this year. Eddie Michli, Christopher Baranano, Michael McCormick, Jane Curl, Diana Caragacianu, and Richard Daly all participate in a 457B and each had contributions totaling $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 amount 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. Physicians in our Hospitalist program are eligible to receive additional compensation if they treat more than 16 patients per day.

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
2022
Filed
12 August 2024
IRS schema version
2022v5.0
Source object
202412269349300951

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