Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $991,968

• 1e · Government grants (contributions)

  $13,687,586

• 1f · All other contributions, gifts and grants

  $11,359,454

• 1g · Noncash contributions included above

  $113,225

• 2a · Program service revenue: NET PATIENT REVENUE

  total $64,298,158 · related or exempt $64,298,158

• 3 · Investment income

  total $918,383 · excluded $918,383

• 7a · Gross sales of assets other than inventory

  securities $1,752,127

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

  securities $510,762

• 7c · Gain or loss

  securities $1,241,365

• 7d · Net gain or loss

  total $1,241,365 · excluded $1,241,365

• 8a · Fundraising events: gross income

  $42,100

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

  $991,968

• 8b · Fundraising events: direct expenses

  $254,924

• 8c · Net income from fundraising events

  total -$212,824 · excluded -$212,824

• 11a · Other revenue: OTHER INCOME

  total $205,134 · related or exempt $205,134

• 11e · Other revenue, total

  $205,134

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,455,376 · program services $2,764 · management and general $1,452,612

• 7 · Other salaries and wages

  total $46,930,078 · program services $38,813,910 · management and general $7,412,843 · fundraising $703,325

• 8 · Pension plan contributions

  total $2,004,159 · program services $1,586,082 · management and general $391,772 · fundraising $26,305

• 9 · Other employee benefits

  total $5,449,750 · program services $4,262,433 · management and general $1,116,628 · fundraising $70,689

• 10 · Payroll taxes

  total $4,054,661 · program services $3,288,455 · management and general $712,586 · fundraising $53,620

• 11a · Fees: management

  total $162,870 · management and general $162,870

• 11b · Fees: legal

  total $193,211 · program services $5,251 · management and general $187,960

• 11c · Fees: accounting

  total $145,501 · management and general $145,501

• 11d · Fees: lobbying

  total $162 · management and general $162

• 11f · Fees: investment management

  total $164,172 · management and general $164,172

• 11g · Fees: other

  total $3,734,381 · program services $3,728,115 · fundraising $6,266

• 13 · Office expenses

  total $11,881,869 · program services $11,721,160 · management and general $155,108 · fundraising $5,601

• 16 · Occupancy

  total $2,989,990 · program services $2,193,290 · management and general $785,626 · fundraising $11,074

• 17 · Travel

  total $211,280 · program services $209,117 · fundraising $2,163

• 19 · Conferences, conventions and meetings

  total $247,335 · program services $219,313 · management and general $26,932 · fundraising $1,090

• 22 · Depreciation, depletion and amortization

  total $1,843,068 · program services $1,095,077 · management and general $733,052 · fundraising $14,939

• 23 · Insurance

  total $368,024 · program services $61,300 · management and general $306,724

• 24a · Other expenses: PURCHASED SERVICES

  total $3,000,569 · program services $2,266,784 · management and general $627,262 · fundraising $106,523

• 24b · Other expenses: EQUIPMENT RENTAL AND MA

  total $2,393,527 · program services $1,486,433 · management and general $842,588 · fundraising $64,506

• 24c · Other expenses: MEDICAL SUPPLIES

  total $1,669,912 · program services $1,669,912

• 24d · Other expenses: MISCELLANEOUS

  total $1,231,578 · program services $795,218 · management and general $315,161 · fundraising $121,199

• 24e · All other expenses

  total $1,481,703 · program services $1,241,374 · management and general $236,688 · fundraising $3,641

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,627 · end of year $229,604

• 2 · Savings and temporary cash investments

  beginning of year $5,790,587 · end of year $6,885,031

• 3 · Pledges and grants receivable

  beginning of year $6,605,304 · end of year $5,680,422

• 4 · Accounts receivable

  beginning of year $5,086,007 · end of year $8,814,118

• 8 · Inventories for sale or use

  beginning of year $873,559 · end of year $940,861

• 9 · Prepaid expenses and deferred charges

  beginning of year $802,260 · end of year $470,418

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

  $41,276,371

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

  $14,994,383

• 10c · Land, buildings and equipment, net

  beginning of year $26,984,673 · end of year $26,281,988

• 11 · Investments: publicly traded securities

  beginning of year $37,212,796 · end of year $39,916,603

• 12 · Investments: other securities

  beginning of year $569,184 · end of year $679,517

• 15 · Other assets

  beginning of year $1,981,429 · end of year $1,510,545

• 17 · Accounts payable and accrued expenses

  beginning of year $6,884,178 · end of year $8,839,438

• 25 · Other liabilities

  beginning of year $1,984,462 · end of year $2,242,496

• 27 · Net assets without donor restrictions

  beginning of year $60,186,014 · end of year $62,483,886

• 28 · Net assets with donor restrictions

  beginning of year $16,854,772 · end of year $17,843,287

The filer's explanations (Part III)

PART I, LINE 4A

BARRY BOCK RECEIVED A SEVERANCE PAYMENT OF $258,934 IN 2023. STEPHANIE COLLINS SULLIVAN RECEIVED A SEVERANCE PAYMENT OF $140,000 IN 2023.

PART I, LINE 3:

JAMES O'CONNNELL, M.D., PRESIDENT, IS JOINTLY EMPLOYED BY MASSACHUSETTS GENERAL HOSPITAL (MGH) AND THE AGENCY, DURING THE FISCAL YEAR 2024, THE AGENCY PAID MGH $419,128 IN COMPENSATION FOR DR.O'CONNELL'S SALARY AS PRESIDENT OF THE AGENCY.