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← PHYSICAL MEDICINE SPECIALISTS INC

Form 990 for tax year 2022

Filed by PHYSICAL MEDICINE SPECIALISTS INC.

What the amendment changed

Compared with the return it replaced , filed 14 November 2023. 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.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$8,850,359
Total expenses
$11,473,222
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$8,742,139
Investment income
$81,402
Other revenue
$26,818
Total assets, end of year
$2,164,853
Total liabilities, end of year
$12,277,016
Net assets or fund balances, end of year
-$10,112,163
Program services expenses (Part IX)
$9,965,789
Management and general expenses
$1,507,433
Fundraising expenses
$0
Program service expenses (Part III)
$9,965,789

Program services were 86.9% 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: NET PATIENT SERVICE

    total $7,215,095 · related or exempt $7,215,095

  • 2b · Program service revenue: PHYSICIAN SERVICE REVE

    total $1,527,044 · related or exempt $1,527,044

  • 3 · Investment income

    total $81,402 · excluded $81,402

  • 11a · Other revenue: OTHER REVENUE

    total $26,818 · excluded $26,818

  • 11e · Other revenue, total

    $26,818

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $892,959 · program services $819,128 · management and general $73,831

  • 7 · Other salaries and wages

    total $6,518,723 · program services $5,979,753 · management and general $538,970

  • 8 · Pension plan contributions

    total $306,560 · program services $281,213 · management and general $25,347

  • 9 · Other employee benefits

    total $366,630 · program services $336,317 · management and general $30,313

  • 10 · Payroll taxes

    total $424,204 · program services $389,131 · management and general $35,073

  • 11b · Fees: legal

    total $9,816 · management and general $9,816

  • 11f · Fees: investment management

    total $615,609 · management and general $615,609

  • 11g · Fees: other

    total $338,371 · program services $272,825 · management and general $65,546

  • 12 · Advertising and promotion

    total $191 · program services $191

  • 13 · Office expenses

    total $77,263 · program services $13,427 · management and general $63,836

  • 14 · Information technology

    total $5,111 · program services $1,771 · management and general $3,340

  • 16 · Occupancy

    total $148,126 · program services $135,439 · management and general $12,687

  • 17 · Travel

    total $44,438 · program services $22,917 · management and general $21,521

  • 19 · Conferences, conventions and meetings

    total $20,672 · program services $18,698 · management and general $1,974

  • 22 · Depreciation, depletion and amortization

    total $94,304 · program services $84,874 · management and general $9,430

  • 23 · Insurance

    total $86,485 · program services $86,485

  • 24a · Other expenses: PHARMACEUTICALS

    total $1,466,222 · program services $1,466,222

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $37,442 · program services $37,442

  • 24c · Other expenses: MEDICAL SUPPLIES

    total $17,402 · program services $17,402

  • 24d · Other expenses: OTHER EXPENSES

    total $2,219 · program services $2,079 · management and general $140

  • 24e · All other expenses

    total $475 · program services $475

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $294,722 · end of year $125,312

  • 4 · Accounts receivable

    beginning of year $618,194 · end of year $866,856

  • 9 · Prepaid expenses and deferred charges

    beginning of year $72,161 · end of year $122,765

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

    $1,545,821

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

    $495,901

  • 10c · Land, buildings and equipment, net

    beginning of year $993,462 · end of year $1,049,920

  • 15 · Other assets

    beginning of year $29,365 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $761,404 · end of year $1,091,060

  • 25 · Other liabilities

    beginning of year $8,733,784 · end of year $11,185,956

  • 27 · Net assets without donor restrictions

    beginning of year -$7,487,284 · end of year -$10,112,163

Mission and programs · 2022

Mission

TO ADVANCE THE HEALTH AND WELL-BEING OF PERSONS REQURING REHABILITATION THROUGH SUPERIOR OUTCOMES, SERVICE, EDUCATION, AND RESEARCH.

Activities or mission (Part I)

PHYSICIAN PRACTICES IN SUPPORT OF BROOKS REHABILITATION HOSPITAL

  • PHYSICAL MEDICINE SPECIALISTS, INC. (DOING BUSINESS AS BROOKS REHABILITATION SPECIALISTS) IS A 501(C) (3) NONPROFIT PHYSICIAN GROUP. IT IS COMPOSED OF SPECIALISTS IN REHABILITATION MEDICINE (PHYSIATRISTS). THE STAFF IS AMONGST THE MOST HIGHLY TRAINED IN THE PRACTICE OF REHABILITATION MEDICINE. THIS GROUP WAS ESTABLISHED TO PROVIDE PHYSICIAN CARE TO PATIENTS WITHIN THE BROOKS SYSTEM. BROOKS IS HOME TO A CLINICAL STAFF THAT IS AMONGST THE MOST HIGHLY TRAINED IN THE FIELD OF REHABILITATION. BY LINKING THE BEST MINDS IN REHABILITATION AND ENABLING STAFF WITH THE LATEST TECHNOLOGY, OUR CLINICAL EXPERTS PROVIDE THE MOST EFFECTIVE APPROACH TO HELP OUR PATIENTS, RESIDENTS, AND GUESTS ACHIEVE THE HIGHEST QUALITY OF LIFE POSSIBLE.THE PHYSICIAN GROUP OFFERS PATIENT CARE AT BROOKS HOSPITAL, OUTPATIENT CENTERS AND OUR SKILLED NURSING FACILITIES. IN 2022, THE MEDICAL GROUP HAD 79,000 PATIENT ENCOUNTERS. THEY ALSO PROVIDE MEDICAL EDUCATION TO UNIVERSITY OF FLORIDA RESIDENTS, THE MEDICAL COMMUNITY AND THE JACKSONVILLE COMMUNITY AT LARGE.

    Expenses $9,965,789 · Revenue $8,742,139

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DOUGLAS M BAER

    CHAIRMAN/CEO

    Total calculated
    $2,466,414
    From this org
    $0
    From related orgs
    $2,402,243
    Other
    $64,171
    Hours/week
    1 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $553,510 related
    Bonus
    $0 + $222,958 related
    Other
    $0 + $1,625,775 related
    Deferred
    $0 + $47,500 related
    Nontaxable benefits
    $0 + $16,671 related
    Filer's total
    $0 + $2,466,414 related

  • ERIC MANN

    BOARD MEMBER

    Total calculated
    $29,700
    From this org
    $0
    From related orgs
    $29,700
    Other
    $0
    Hours/week
    2 + 4 related

  • TREVOR PARIS MD

    VICE PRESIDENT/MED. DIRECT

    Total calculated
    $616,079
    From this org
    $0
    From related orgs
    $564,208
    Other
    $51,871
    Hours/week
    10 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $394,981 related
    Bonus
    $0 + $163,602 related
    Other
    $0 + $5,625 related
    Deferred
    $0 + $27,000 related
    Nontaxable benefits
    $0 + $24,871 related
    Filer's total
    $0 + $616,079 related

  • BRUCE JOHNSON

    BOARD MEMBER

    Total calculated
    $46,500
    From this org
    $0
    From related orgs
    $46,500
    Other
    $0
    Hours/week
    1 + 5 related

  • HOWARD SERKIN

    BOARD MEMBER

    Total calculated
    $38,400
    From this org
    $0
    From related orgs
    $38,400
    Other
    $0
    Hours/week
    1 + 5 related

  • DANIEL R CURRAN

    SECRETARY/CFO

    Total calculated
    $457,234
    From this org
    $0
    From related orgs
    $438,079
    Other
    $19,155
    Hours/week
    1 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $311,812 related
    Bonus
    $0 + $124,783 related
    Other
    $0 + $1,484 related
    Deferred
    $0 + $13,223 related
    Nontaxable benefits
    $0 + $5,932 related
    Filer's total
    $0 + $457,234 related

  • J BRITTON TABOR

    SECRETARY/CFO

    Total calculated
    $407,968
    From this org
    $0
    From related orgs
    $400,344
    Other
    $7,624
    Hours/week
    1 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $400,344 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $7,624 related
    Filer's total
    $0 + $407,968 related

  • KENNETH NGO MD

    DIRECTOR MEDICAL PROGRAM

    Total calculated
    $438,285
    From this org
    $393,814
    From related orgs
    $0
    Other
    $44,471
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $393,291
    Bonus
    $0
    Other
    $523
    Deferred
    $20,500
    Nontaxable benefits
    $23,971
    Filer's total
    $438,285

  • HOWARD WEISS MD

    MEDICAL DIRECTOR

    Total calculated
    $547,713
    From this org
    $499,145
    From related orgs
    $0
    Other
    $48,568
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $495,336
    Bonus
    $0
    Other
    $3,809
    Deferred
    $27,000
    Nontaxable benefits
    $21,568
    Filer's total
    $547,713

  • JORGE PEREZ-LOPEZ MD

    PHYSIATRIST

    Total calculated
    $467,448
    From this org
    $430,067
    From related orgs
    $0
    Other
    $37,381
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $429,745
    Bonus
    $0
    Other
    $322
    Deferred
    $20,500
    Nontaxable benefits
    $16,881
    Filer's total
    $467,448

  • PARAG SHAH MD

    PHYSIATRIST

    Total calculated
    $416,693
    From this org
    $363,272
    From related orgs
    $0
    Other
    $53,421
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $362,760
    Bonus
    $0
    Other
    $512
    Deferred
    $36,750
    Nontaxable benefits
    $16,671
    Filer's total
    $416,693

  • GENEVA TUNUZI MD

    PHYSIATRIST

    Total calculated
    $425,623
    From this org
    $404,623
    From related orgs
    $0
    Other
    $21,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $404,100
    Bonus
    $0
    Other
    $523
    Deferred
    $20,500
    Nontaxable benefits
    $500
    Filer's total
    $425,623

  • CASSANDRA LIST MD

    PHYSIATRIST

    Total calculated
    $309,524
    From this org
    $279,510
    From related orgs
    $0
    Other
    $30,014
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $279,183
    Bonus
    $0
    Other
    $327
    Deferred
    $18,700
    Nontaxable benefits
    $11,314
    Filer's total
    $309,524

  • IVY GARCIA MD

    PHYSIATRIST

    Total calculated
    $298,455
    From this org
    $279,039
    From related orgs
    $0
    Other
    $19,416
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,496
    Bonus
    $0
    Other
    $1,543
    Deferred
    $11,000
    Nontaxable benefits
    $8,416
    Filer's total
    $298,455

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

  • 4b · Supplemental nonqualified retirement plan
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
THE ORGANIZATION PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN TO CERTAIN KEY EMPLOYEES. THE PLAN IS AN UNFUNDED DEFERRED COMPENSATION PLAN DESCRIBED IN SECTION 457(F) AND IS INTENDED FOR A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES. AT THIS TIME, CONTRIBUTIONS TO AN INDIVIDUAL'S ACCOUNT UNDER THE PLAN ARE ON A PERCENTAGE OF THE INDIVIDUAL'S ANNUAL BASE SALARY AS APPROVED BY THE BOARD COMPENSATION COMMITTEE. VESTING IN THE PLAN FOR CURRENT MEMBERS OCCURS JANUARY 1, 2022, PROVIDED EMPLOYMENT IS MAINTAINED, AND DISREGARDING ACCELERATION DUE TO DEATH OR DISABILITY. FOR THE CURRENT TAX YEAR, PAYOUTS FROM THE PLAN FOR THE LISTED INDIVIDUALS WERE AS FOLLOWS, (LISTED AS A COMPONENT OF PART II, COLUMN (B)III AND COLUMN F): $1,621,914 - DOUGLAS M. BAER
PART I, LINE 6
THE COMPANY HAS A SUCCESS SHARING PLAN THAT INCLUDES MOST EMPLOYEES. PAYMENT IS CALCULATED AS A PERCENTAGE OF COMPENSATION AND IS TRIGGERED BY MEETING SPECIFIC OPERATIONAL AND FINANCIAL GOALS.
PART I, LINE 7
IN 2020, DUE TO COVID, THE ORGANIZATION PAID BONUS PAYMENTS AS A HEROES PLAN.
PART I, LINE 3:
CERTAIN BOARD MEMBERS AND MANAGEMENT OFFICIALS ARE COMPENSATED BY GENESIS HEALTH, INC., THE SOLE MEMBER. THE BOARD OF GENESIS HEALTH USES THE FOLLOWING METHODS TO DETERMINE EXECUTIVE COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION STUDY OR SURVEY - APPROVAL BY COMPENSATION COMMITTEE

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.

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
5 June 2024
IRS schema version
2022v5.0
Source object
202441659349300709

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