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← STONY BROOK OPHTHALMOLOGY UNIVERSITY FACULTY PRACTICE CORP

Form 990 for tax year 2023

Filed by STONY BROOK OPHTHALMOLOGY UNIVERSITY FACULTY PRACTICE CORP.

Totals

Total revenue
$15,055,793
Total expenses
$15,729,474
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$15,040,121
Investment income
$0
Other revenue
$15,672
Total assets, end of year
$1,632,222
Total liabilities, end of year
$1,632,222
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$13,768,953
Management and general expenses
$1,960,521
Fundraising expenses
$0
Program service expenses (Part III)
$13,768,953

Program services were 87.5% 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: PATIENT SERVICE REVENUE

    total $15,040,121 · related or exempt $15,040,121

  • 2f · All other program service revenue

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: OTHER INTEREST (COMMON PAYMASTER, CLAIMS

    total $15,672 · excluded $15,672

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $15,672

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,160,412 · program services $2,052,391 · management and general $108,021

  • 7 · Other salaries and wages

    total $2,240,083 · program services $2,240,083

  • 8 · Pension plan contributions

    total $392,151 · program services $392,151

  • 9 · Other employee benefits

    total $16,395 · program services $16,395

  • 10 · Payroll taxes

    total $129,846 · program services $129,846

  • 11a · Fees: management

    total $9,750,000 · program services $7,897,500 · management and general $1,852,500

  • 11g · Fees: other

    total $1,009,683 · program services $1,009,683 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $30,904 · program services $30,904

  • 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 $2,305,904 · end of year $1,632,222

  • 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

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,305,904 · end of year $1,632,222

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

PROVIDE CLINICAL INSTRUCTION TO AND SUPERVISION OF MEDICAL SCHOOL STUDENTS, INTERNS AND RESIDENTS AND, INCIDENT THERETO, RENDERING PROFESSIONAL SERVICES.

  • THE ORGANIZATION PROVIDES SERVICES IN THE FIELD OF OPHTHALMOLOGY TO PATIENTS AND PROVIDES CLINICAL INSTRUCTION TO AND SUPERVISION OF SCHOOL OF MEDICINE STUDENTS AND HOSPITAL RESIDENTS.

    Expenses $13,768,953 · Revenue $15,040,121

As filed on the 2023 return.

Listed in Part VII

  • Khurram CHAUDHARY

    DIRECTOR/SECRETARY/TREASURER

    Total calculated
    $1,102,541
    From this org
    $960,502
    From related orgs
    $71,012
    Other
    $71,027
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $623,669 + $71,012 related
    Bonus
    $334,223
    Other
    $2,610
    Deferred
    $39,600 + $7,101 related
    Nontaxable benefits
    $1,788 + $22,538 related
    Filer's total
    $1,001,890 + $100,651 related

  • Robert Honkanen

    President & Director

    Total calculated
    $968,942
    From this org
    $748,231
    From related orgs
    $139,415
    Other
    $81,296
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $498,500 + $139,415 related
    Bonus
    $247,121
    Other
    $2,610
    Deferred
    $39,600 + $18,124 related
    Nontaxable benefits
    $1,034 + $22,538 related
    Filer's total
    $788,865 + $180,077 related

  • Patricia PAHK

    DIRECTOR

    Total calculated
    $464,264
    From this org
    $331,193
    From related orgs
    $65,517
    Other
    $67,554
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $254,132 + $65,517 related
    Bonus
    $74,623
    Other
    $2,438
    Deferred
    $36,677 + $6,552 related
    Nontaxable benefits
    $1,787 + $22,538 related
    Filer's total
    $369,657 + $94,607 related

  • Benedict Urmaza

    OPHTHALMOLOGIST

    Total calculated
    $368,447
    From this org
    $250,142
    From related orgs
    $65,489
    Other
    $52,816
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $227,829 + $65,489 related
    Bonus
    $20,000
    Other
    $2,313
    Deferred
    $29,739
    Nontaxable benefits
    $539 + $22,538 related
    Filer's total
    $280,420 + $88,027 related

  • Nariman Boyle

    OPHTHALMOLOGIST

    Total calculated
    $463,431
    From this org
    $296,667
    From related orgs
    $101,443
    Other
    $65,321
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $192,814 + $101,443 related
    Bonus
    $101,730
    Other
    $2,123
    Deferred
    $28,509 + $13,188 related
    Nontaxable benefits
    $1,086 + $22,538 related
    Filer's total
    $326,262 + $137,169 related

  • Sarah Weissbart

    OPHTHALMOLOGIST

    Total calculated
    $439,137
    From this org
    $304,883
    From related orgs
    $66,929
    Other
    $67,325
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $187,191 + $66,929 related
    Bonus
    $115,647
    Other
    $2,045
    Deferred
    $36,341 + $6,693 related
    Nontaxable benefits
    $1,753 + $22,538 related
    Filer's total
    $342,977 + $96,160 related

  • Sui Ngayan

    OPHTHALMOLOGIST

    Total calculated
    $348,795
    From this org
    $232,025
    From related orgs
    $66,143
    Other
    $50,627
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $199,995 + $66,143 related
    Bonus
    $30,000
    Other
    $2,030
    Deferred
    $27,599
    Nontaxable benefits
    $490 + $22,538 related
    Filer's total
    $260,114 + $88,681 related

  • Timothy Chou

    OPHTHALMOLOGIST

    Total calculated
    $465,294
    From this org
    $323,966
    From related orgs
    $71,581
    Other
    $69,747
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $159,819 + $71,581 related
    Bonus
    $162,117
    Other
    $2,030
    Deferred
    $36,600 + $9,306 related
    Nontaxable benefits
    $1,303 + $22,538 related
    Filer's total
    $361,869 + $103,425 related

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 survey or study
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 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 7 Non-fixed payments
THE OFFICERS RECEIVED COMPENSATION OVER BASE SALARY INCLUDING THE BONUS DETERMINED AT THE ORGANIZATION'S DISCRETION OR BASED SPECIFICALLY ON BONUS PLANS SET BY THE ENTITY, DETERMINED AS REASONABLE. THIS BENEFIT IS SUBJECT TO THE GUIDELINES FOR NONFIXED PAYMENTS.

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.

  • STONY BROOK HEALTHCARE IPA LL

    Related · HEALTHCARE · NY

    Directly controlled by CPMP

Related corporations and trusts

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

  • NICOLLS INDEMNITY SOLUTIONS SPC

    C Corporation · SELF-INSURANCE · CJ

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202511339349307396

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