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← UNIVERSITY OF MINNESOTA PHYSICIANS

Form 990 for tax year 2023

Filed by UNIVERSITY OF MINNESOTA PHYSICIANS.

Totals

Total revenue
$903,048,414
Total expenses
$909,135,379
Contributions and grants received
$0
Grants paid
$9,138,381
Program service revenue
$897,039,783
Investment income
$2,333,631
Other revenue
$3,675,000
Total assets, end of year
$286,805,724
Total liabilities, end of year
$211,471,745
Net assets or fund balances, end of year
$75,333,979
Program services expenses (Part IX)
$848,210,015
Management and general expenses
$60,925,364
Fundraising expenses
$0
Program service expenses (Part III)
$848,210,015

Program services were 93.3% 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: CONTRACT SERVICE REV.

    total $856,862,160 · related or exempt $856,862,160

  • 2b · Program service revenue: PATIENT SERVICE REV.

    total $38,101,303 · related or exempt $38,101,303

  • 2c · Program service revenue: MEDICAID SUPP. PAYMENT

    total $2,031,937 · related or exempt $2,031,937

  • 2d · Program service revenue: RETAIL SALES

    total $44,383 · related or exempt $44,383

  • 3 · Investment income

    total $2,340,605 · excluded $2,340,605

  • 7a · Gross sales of assets other than inventory

    securities $3,873,026

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

    securities $3,880,000

  • 7c · Gain or loss

    securities -$6,974

  • 7d · Net gain or loss

    total -$6,974 · excluded -$6,974

  • 11a · Other revenue: BROADWAY CLINIC PYMT

    total $3,675,000 · related or exempt $3,675,000

  • 11e · Other revenue, total

    $3,675,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $9,138,381 · program services $9,138,381

  • 5 · Compensation of officers, directors and key employees

    total $4,352,775 · program services $3,264,483 · management and general $1,088,292

  • 7 · Other salaries and wages

    total $665,531,120 · program services $632,053,864 · management and general $33,477,256

  • 8 · Pension plan contributions

    total $51,809,750 · program services $49,093,926 · management and general $2,715,824

  • 9 · Other employee benefits

    total $67,381,799 · program services $67,252,401 · management and general $129,398

  • 10 · Payroll taxes

    total $34,482,739 · program services $32,199,656 · management and general $2,283,083

  • 11b · Fees: legal

    total $2,300,430 · program services $468,551 · management and general $1,831,879

  • 11c · Fees: accounting

    total $208,296 · program services $664 · management and general $207,632

  • 11d · Fees: lobbying

    total $44,000 · management and general $44,000

  • 11f · Fees: investment management

    total $25,330 · management and general $25,330

  • 11g · Fees: other

    total $20,892,739 · program services $16,784,082 · management and general $4,108,657

  • 12 · Advertising and promotion

    total $150,992 · program services $19,680 · management and general $131,312

  • 13 · Office expenses

    total $322,810 · program services $287,950 · management and general $34,860

  • 14 · Information technology

    total $8,784,305 · program services $76,442 · management and general $8,707,863

  • 16 · Occupancy

    total $9,934,293 · program services $9,156,081 · management and general $778,212

  • 17 · Travel

    total $108,591 · program services $106,345 · management and general $2,246

  • 19 · Conferences, conventions and meetings

    total $368,390 · program services $325,895 · management and general $42,495

  • 22 · Depreciation, depletion and amortization

    total $2,875,756 · program services $1,921,500 · management and general $954,256

  • 23 · Insurance

    total $14,601,423 · program services $13,591,048 · management and general $1,010,375

  • 24a · Other expenses: ALL OTHER EXPENSES

    total $9,936,425 · program services $6,585,985 · management and general $3,350,440

  • 24b · Other expenses: MEDICAL SUPPLIER/DRUGS

    total $2,998,464 · program services $2,996,510 · management and general $1,954

  • 24c · Other expenses: DEAN SUPPORT/DEAN TAX

    total $2,271,655 · program services $2,271,655

  • 24d · Other expenses: MN CARE TAX

    total $494,913 · program services $494,913

  • 24e · All other expenses

    total $120,003 · program services $120,003

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $111,574,890 · end of year $32,926,654

  • 2 · Savings and temporary cash investments

    beginning of year $27,441,469 · end of year $31,925,957

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $147,526,419 · end of year $201,342,256

  • 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 $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,504,278 · end of year $3,728,998

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

    $30,088,859

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

    $20,679,882

  • 10c · Land, buildings and equipment, net

    beginning of year $11,077,723 · end of year $9,408,977

  • 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 $8,935,219 · end of year $7,472,882

  • 17 · Accounts payable and accrued expenses

    beginning of year $200,278,540 · end of year $211,471,745

  • 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

  • 27 · Net assets without donor restrictions

    beginning of year $108,781,458 · end of year $75,333,979

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

UNIVERSITY OF MINNESOTA PHYSICIANS SERVES AS THE INTEGRATED GROUP PRACTICE FOR THE UNIVERSITY OF MINNESOTA MEDICAL SCHOOL FULL-TIME FACULTY TO PROVIDE THE HIGHEST QUALITY HEALTHCARE TO PATIENTS AND THEIR FAMILIES.UNIVERSITY OF MINNESOTA PHYSICIANS IS A MULTI-SPECIALTY PHYSICIAN ORGANIZATION SERVING AS THE FACULTY PRACTICE PLAN FOR THE UNIVERSITY OF MINNESOTA MEDICAL SCHOOL. IT IS DEDICATED TO PROVIDING HIGH QUALITY, PATIENT FOCUSED CARE AND ADVANCING MEDICAL KNOWLEDGE. IT SUPPORTS THERESEARCH AND EDUCATION MISSIONS OF THE MEDICAL SCHOOL.

Activities or mission (Part I)

TO PROVIDE THE HIGHEST QUALITY HEALTHCARE TO PATIENTS AND THEIR FAMILIES.

  • UNIVERSITY OF MINNESOTA PHYSICIANS (UMP) SERVES AS THE INTEGRATED, MULTI-SPECIALTY GROUP PRACTICE FOR THE UNIVERSITY OF MINNESOTA MEDICAL SCHOOL (MEDICAL SCHOOL) FACULTY. IT OPERATES AS AN INTEGRAL PART OF THE MEDICAL SCHOOL, A COMPONENT OF THE UNIVERSITY OF MINNESOTA (UNIVERSITY), WHICH IS A TAX-EXEMPT LAND GRANT PUBLIC UNIVERSITY.(CONTINUED ON SCHEDULE O)AS THE DESIGNATED PRACTICE GROUP FOR THE MEDICAL SCHOOL'S FACULTY, UMP WAS ESTABLISHED TO SUPPORT THE MEDICAL SCHOOL'S TRIPARTITE MISSION: CLINICAL CARE, TEACHING, AND RESEARCH. IT IS THE ORGANIZATION THROUGH WHICH THE FACULTY PHYSICIANS PROVIDE CLINICAL CARE TO PATIENTS AND CLINICAL TRAINING TO THE NEXT GENERATION OF PHYSICIANS. THE FUNDS DERIVED FROM UMP'S ACTIVITIES ARE USED TO FINANCIALLY SUPPORT THE MEDICAL SCHOOL'S TEACHING, RESEARCH, ACADEMIC ADMINISTRATION, AND COMMUNITY SERVICE ACTIVITIES.CLINICAL CARE:UMP SERVES THE MEDICAL SCHOOL'S CLINICAL CARE MISSION AND THE UNIVERSITY'S LAND GRANT MISSION BY PROVIDING HIGH-QUALITY, INNOVATIVE AND CUTTING-EDGE CLINICAL CARE TO PATIENTS ACROSS THE STATE OF MINNESOTA AND BEYOND. IT BRINGS ACADEMIC MEDICINE AND EVIDENCE-BASED CARE TO PATIENTS AT OVER 80 CLINICAL CARE SITES IN MINNESOTA. UMP OWNS AND OPERATES A NUMBER OF PRIMARY CARE AND SPECIALTY CLINICS, INCLUDING A NUMBER OF WHOLLY-OWNED CLINICS, AS WELL AS A CO-OWNED AMBULATORY CARE CENTER, THE UNIVERSITY OF MINNESOTA HEALTH CLINICS AND SURGERY CENTER, WHICH HOUSES A BROAD RANGE OF SPECIALTY CLINICS. UMP ALSO PROVIDES PATIENT CARE AT THE HOSPITAL AND AMBULATORY CARE SITES OF ITS CLINICAL PARTNERS, WHICH INCLUDE OVER A DOZEN NONPROFIT HEALTH CARE SYSTEMS WITH FACILITIES LOCATED IN THE METROPOLITAN REGION AS WELL AS THE GREATER MINNESOTA REGION.UNDER AN ACADEMIC AFFILIATION RELATIONSHIP WITH ITS PRIMARY CLINICAL PARTNER, UMP PROVIDES THE PRIMARY PHYSICIAN STAFFING FOR THE UNIVERSITY OF MINNESOTA MEDICAL CENTER, MINNESOTA'S FLAGSHIP TEACHING FACILITY AND THE REGION'S ONLY UNIVERSITY-LEVEL ACADEMIC MEDICAL CENTER. IN ADDITION TO STAFFING THE ACADEMIC MEDICAL CENTER, UMP ALSO PROVIDES MEDICAL LEADERSHIP FOR THE CENTER, WHICH INCLUDES TWO ACUTE CARE HOSPITALS (ADULT AND PEDIATRIC - THE UNIVERSITY OF MINNESOTA MASONIC CHILDREN'S HOSPITAL, HOME OF SOME OF THE WORLD'S TOP PEDIATRIC CANCER PROGRAMS) AND DOZENS OF OUTPATIENT SPECIALTY CLINICS.UMP EMPLOYS MORE THAN 1,200 PHYSICIANS AND 2,400 OTHER CLINICIANS AND STAFF WHO ARE COMMITTED TO PROVIDING HIGH-QUALITY, PATIENT-FOCUSED CARE TO THE COMMUNITIES IT SERVES. UMP'S HIGHLY SKILLED AND HIGHLY TRAINED PHYSICIANS PROVIDE CARE IN OVER 90 SPECIALTIES AND SUB-SPECIALTIES, DIAGNOSING AND TREATING ALL PATIENT POPULATIONS AND MANAGING SOME OF THE MOST COMPLEX AND RARE CONDITIONS. UMP SERVES OVER ONE MILLION PATIENTS ANNUALLY. IT HAS A CHARITY CARE PROGRAM FOR THE UNINSURED AND UNDERINSURED AND SERVES MANY UNDERSERVED POPULATIONS. FOR EXAMPLE: ITS BROADWAY FAMILY MEDICINE CLINIC, HAS LONG PROVIDED PRIMARY CARE TO AN UNDERSERVED URBAN COMMUNITY WITH LIMITED ACCESS TO HEALTH CARE; ITS STUDENT-RUN PHILLIPS NEIGHBORHOOD CLINIC IS A FREE CLINIC THAT SERVICES AN UNINSURED POPULATION. TEACHING:UMP SERVES THE MEDICAL SCHOOL'S TEACHING MISSION BY PROVIDING CLINICAL TRAINING TO THE MEDICAL STUDENTS, RESIDENTS, AND FELLOWS IN THE MEDICAL SCHOOL'S GRADUATE MEDICAL EDUCATION PROGRAMS. UMP'S FACULTY PHYSICIANS PROVIDE THIS VITAL TRAINING AS PART OF THE CLINICAL CARE THEY PROVIDE TO PATIENTS. THEY PROVIDE THE PHYSICIANS-IN-TRAINING WITH REAL LIFE, HANDS-ON PATIENT EXPERIENCE IN THE CLINICAL SETTING, INSTRUCTING THEM ON ALL ASPECTS OF PATIENT CARE AND SUPERVISING THEIR PATIENT CARE ACTIVITIES. THIS CLINICAL TRAINING COVERS OVER 140 MEDICAL RESIDENCY AND FELLOWSHIP PROGRAMS FOR 19 GENERAL SPECIALTIES AND OVER 100 SUBSPECIALTIES. UMP'S FACULTY PHYSICIANS TRAIN OVER 70% OF MINNESOTA'S PHYSICIANS.RESEARCH:UMP SERVICES THE MEDICAL SCHOOL'S RESEARCH MISSION BY SUPPORTING ITS FACULTY PHYSICIANS' CLINICAL RESEARCH EFFORTS. UMP'S FACULTY PHYSICIANS ARE PHYSICIAN SCIENTISTS WHO ARE DRIVEN TO ADVANCE MEDICAL KNOWLEDGE THROUGH SCHOLARSHIP AND TRANSLATIONAL RESEARCH. THROUGH THE CLINICAL TRIALS THEY LEAD, THEY BRING NEW CURES AND TREATMENTS TO THE PATIENTS THEY CARE FOR IN THEIR CLINICAL PRACTICES.AS A NATIONAL RESEARCH POWERHOUSE, THE UNIVERSITY OF MINNESOTA MEDICAL SCHOOL HAS LONG BEEN RECOGNIZED FOR PIONEERING NEW TECHNIQUES AND THERAPIES IN MEDICINE. THE WORLD'S FIRST SUCCESSFUL OPEN HEART SURGERY, HEART TRANSPLANT, AND BONE MARROW TRANSPLANT WERE PERFORMED AT THE UNIVERSITY OF MINNESOTA MEDICAL CENTER. THE MEDICAL SCHOOL ALSO DEVELOPED THE FIRST HEART-LUNG MACHINE, THE FIRST WEARABLE, BATTERY-OPERATED PACEMAKER, AND MORE RECENTLY, THE FIRST-OF-ITS-KIND MOBILE RESUSCITATION VEHICLE TO BRING LIFE-SAVING, EMERGENCY ROOM-LEVEL CARE TO FIRST RESPONDERS FOR CARDIAC ARREST PATIENTS.THE MEDICAL SCHOOL REMAINS AT THE FOREFRONT OF THE LATEST CLINICAL TRIALS AND OTHER RESEARCH. KEY RESEARCH AREAS INCLUDE: STEM CELL RESEARCH AND REGENERATIVE MEDICINE; SOLID ORGAN AND BLOOD AND MARROW TRANSPLANTATION, DIABETES, IMMUNOLOGY AND INFECTIOUS DISEASE, CANCER, NEUROSCIENCE, LUNG DISEASE, AND CARDIOVASCULAR DISEASE. UMP'S FACULTY PHYSICIANS ARE PRINCIPAL INVESTIGATORS IN HUNDREDS OF ONGOING CLINICAL TRIALS IN THESE AREAS. THEIR RESEARCH ALLOWS UMP TO CONSTANTLY IMPROVE PATIENT CARE, OUTCOMES, AND QUALITY OF LIFE. THE FUNDING UMP PROVIDES TO THE MEDICAL SCHOOL SUPPORTS THESE RESEARCH EFFORTS.

    Expenses $848,210,015 · Grants $9,138,381 · Revenue $900,714,783

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Denis Clohisy

    PHYSICIAN & BOARD VICE CHAIR

    Total calculated
    $1,330,126
    From this org
    $478,309
    From related orgs
    $731,174
    Other
    $120,643
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $418,933 + $624,174 related
    Bonus
    $53,500 + $107,000 related
    Other
    $5,876
    Deferred
    $42,900
    Nontaxable benefits
    $2,749 + $74,994 related
    Filer's total
    $523,958 + $806,168 related

  • Jakub Tolar

    PHYSICIAN & BOARD CHAIR

    Total calculated
    $1,014,478
    From this org
    $37,058
    From related orgs
    $907,638
    Other
    $69,782
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $35,000 + $907,638 related
    Bonus
    $0
    Other
    $2,058
    Deferred
    $4,550
    Nontaxable benefits
    $0 + $65,232 related
    Filer's total
    $41,608 + $972,870 related

  • Sayeed Ikramuddin

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $1,002,451
    From this org
    $559,365
    From related orgs
    $345,586
    Other
    $97,500
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $529,880 + $239,409 related
    Bonus
    $24,216 + $106,177 related
    Other
    $5,269
    Deferred
    $42,900
    Nontaxable benefits
    $1,201 + $53,399 related
    Filer's total
    $603,466 + $398,985 related

  • Bevan Yueh

    CEO

    Total calculated
    $935,068
    From this org
    $553,591
    From related orgs
    $273,241
    Other
    $108,236
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $428,849 + $273,241 related
    Bonus
    $121,696
    Other
    $3,046
    Deferred
    $49,500
    Nontaxable benefits
    $908 + $57,828 related
    Filer's total
    $603,999 + $331,069 related

  • Elizabeth Seaquist

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $978,216
    From this org
    $126,450
    From related orgs
    $761,682
    Other
    $90,084
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $94,481 + $646,133 related
    Bonus
    $28,887 + $115,549 related
    Other
    $3,082
    Deferred
    $16,038
    Nontaxable benefits
    $594 + $73,452 related
    Filer's total
    $143,082 + $835,134 related

  • Joseph Neglia

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $652,634
    From this org
    $256,235
    From related orgs
    $305,436
    Other
    $90,963
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $240,400 + $268,007 related
    Bonus
    $12,476 + $37,429 related
    Other
    $3,359
    Deferred
    $32,874
    Nontaxable benefits
    $974 + $57,115 related
    Filer's total
    $290,083 + $362,551 related

  • Joel Boyd

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $727,503
    From this org
    $659,038
    From related orgs
    $0
    Other
    $68,465
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $653,938
    Bonus
    $0
    Other
    $5,100
    Deferred
    $42,900
    Nontaxable benefits
    $25,565
    Filer's total
    $727,503

  • Jessica Kuehn-Hajder

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $604,839
    From this org
    $458,031
    From related orgs
    $71,900
    Other
    $74,908
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $404,116 + $71,900 related
    Bonus
    $50,000
    Other
    $3,915
    Deferred
    $42,900
    Nontaxable benefits
    $569 + $31,439 related
    Filer's total
    $501,500 + $103,339 related

  • Rahel Ghebre

    PHYSICIAN & BOARD SECRETARY

    Total calculated
    $538,569
    From this org
    $306,868
    From related orgs
    $150,123
    Other
    $81,578
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $302,967 + $150,123 related
    Bonus
    $0
    Other
    $3,901
    Deferred
    $39,386
    Nontaxable benefits
    $398 + $41,794 related
    Filer's total
    $346,652 + $191,917 related

  • Catherine Bendel

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $349,796
    From this org
    $221,650
    From related orgs
    $67,072
    Other
    $61,074
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $218,973 + $67,072 related
    Bonus
    $0
    Other
    $2,677
    Deferred
    $28,467
    Nontaxable benefits
    $1,061 + $31,546 related
    Filer's total
    $251,178 + $98,618 related

  • Kathryn Kacey Justesen

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $322,922
    From this org
    $103,339
    From related orgs
    $167,277
    Other
    $52,306
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $93,999 + $167,277 related
    Bonus
    $8,000
    Other
    $1,340
    Deferred
    $13,260
    Nontaxable benefits
    $0 + $39,046 related
    Filer's total
    $116,599 + $206,323 related

  • Naomi Fujioka

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $343,406
    From this org
    $195,161
    From related orgs
    $108,289
    Other
    $39,956
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $174,626 + $7,108 related
    Bonus
    $18,288
    Other
    $2,247 + $101,181 related
    Deferred
    $25,079 + $14,347 related
    Nontaxable benefits
    $112 + $418 related
    Filer's total
    $220,352 + $123,054 related

  • Amy Reed Termed 723

    DIRECTOR AND EMPLOYED PHYSICIAN

    Total calculated
    $386,834
    From this org
    $305,665
    From related orgs
    $32,273
    Other
    $48,896
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $299,741 + $32,273 related
    Bonus
    $0
    Other
    $5,924
    Deferred
    $38,966
    Nontaxable benefits
    $1,370 + $8,560 related
    Filer's total
    $346,001 + $40,833 related

  • Dee Thibodeau

    COMMUNITY BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James Hereford

    NONVOTING BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jon Christianson

    COMMUNITY BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Julia Joseph-Di Caprio

    COMMUNITY BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Pickard

    COMMUNITY BOARD MEMBER & BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Richard Migliori

    COMMUNITY BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tom Olson

    COMMUNITY BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Nick Nyhus

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $484,293
    From this org
    $420,889
    From related orgs
    $0
    Other
    $63,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $358,763
    Bonus
    $57,595
    Other
    $4,531
    Deferred
    $49,499
    Nontaxable benefits
    $13,905
    Filer's total
    $484,293

  • William Sibert

    CFO

    Total calculated
    $749,748
    From this org
    $0
    From related orgs
    $694,416
    Other
    $55,332
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $556,916 related
    Bonus
    $0 + $137,500 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $55,332 related
    Filer's total
    $0 + $749,748 related

  • Christopher Martin

    EMPLOYED PHYSICIAN

    Total calculated
    $1,996,090
    From this org
    $1,882,911
    From related orgs
    $48,789
    Other
    $64,390
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $1,179,670 + $48,789 related
    Bonus
    $699,782
    Other
    $3,459
    Deferred
    $42,900
    Nontaxable benefits
    $220 + $21,270 related
    Filer's total
    $1,926,031 + $70,059 related

  • Rosemary Kelly

    EMPLOYED PHYSICIAN

    Total calculated
    $1,627,412
    From this org
    $1,453,114
    From related orgs
    $93,381
    Other
    $80,917
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $1,447,624 + $93,381 related
    Bonus
    $0
    Other
    $5,490
    Deferred
    $42,900
    Nontaxable benefits
    $3,705 + $34,312 related
    Filer's total
    $1,499,719 + $127,693 related

  • Matthew Hunt

    EMPLOYED PHYSICIAN

    Total calculated
    $1,078,567
    From this org
    $1,008,993
    From related orgs
    $0
    Other
    $69,574
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $805,696
    Bonus
    $197,654
    Other
    $5,643
    Deferred
    $42,900
    Nontaxable benefits
    $26,674
    Filer's total
    $1,078,567

  • Pranava Sinha

    EMPLOYED PHYSICIAN

    Total calculated
    $1,439,759
    From this org
    $1,357,872
    From related orgs
    $48,789
    Other
    $33,098
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $1,353,472 + $48,789 related
    Bonus
    $0
    Other
    $4,400
    Deferred
    $33,000 + $98 related
    Nontaxable benefits
    $0
    Filer's total
    $1,390,872 + $48,887 related

  • Tushar Vora

    EMPLOYED PHYSICIAN

    Total calculated
    $997,185
    From this org
    $926,221
    From related orgs
    $0
    Other
    $70,964
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $742,279
    Bonus
    $178,109
    Other
    $5,833
    Deferred
    $42,900
    Nontaxable benefits
    $28,064
    Filer's total
    $997,185

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 · Compensation committee
  • 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

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 5
INCENTIVE COMPENSATION IS PAID BASED UPON ATTAINMENT OF SPECIFIC GOALS RELATED TO INDIVIDUAL CLINICAL PRODUCTIVITY, NOT THE EARNINGS OF THE ENTIRE ORGANIZATION. INCENTIVE COMPENSATION FOR NON-PHYSICIANS LISTED IS BASED ON QUALITY AND SAFETY, CLINICIAN AND EMPLOYEE EXPERIENCE, PATIENT EXPERIENCE, EFFICIENCY AND GROWTH.

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

  • UNIVERSITY OF MINNESOTA

    $9,138,381

    EDUCATION & RESEARCH

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.

  • UNIVERSITY OF MINNESOTA

    115 · PUBLIC UNIVERSITY · MN

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • UMPHYSICIANS MANAGEMENT COMPANY LLC

    MANAGEMENT · MN · income $0 · assets $0

    Directly controlled by UMP

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • UMP ASSURANCE COMPANY

    C · SELF-INSURANCE · CJ · 100% owned · share of income $14,743,490 · share of assets $55,230,965 · controlled entity

    Directly controlled by UMPHYSICIANS

Provenance

Return type
form_990
Tax year
2023
Filed
7 May 2025
IRS schema version
2023v6.0
Source object
202521279349302792

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