Form 990 for tax year 2024
Filed by FACULTY PRACTICE FOUNDATION INC.
This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.
What the amendment changed
Compared with the latest return for 2024 , filed 12 August 2026. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) 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.
- Total revenue
- $138,261,106 changed to $587,967,407
- Total expenses
- $145,600,548 changed to $585,856,903
- Grants paid
- $1,000,500 changed to $18,079
- Program service revenue
- $137,999,066 changed to $582,059,223
- Investment income
- $262,040 changed to $5,908,184
- Total assets, end of year
- $95,216,696 changed to $92,152,007
- Total liabilities, end of year
- $33,569,939 changed to $25,026,168
- Net assets or fund balances, end of year
- $61,646,757 changed to $67,125,839
- Program services expenses
- $120,298,565 changed to $473,657,953
- Management and general expenses
- $25,301,983 changed to $112,198,950
- Program service expenses (Part III)
- $120,298,565 changed to $473,657,953
Listed only on the earlier return
- Gerald Denis MDGERALD DENIS MD
- Katharine O'Connell White MDKATHARINE O'CONNELL WHITE MD
- Miriam Komaromy MDMIRIAM KOMAROMY MD
- Ronald Iverson MDRONALD IVERSON MD
Listed only on the later return
- Andrew Stein MDANDREW STEIN MD
- Anthony Hollenberg MDANTHONY HOLLENBERG MD
- Aviva Lee-Parritz MDAVIVA LEE-PARRITZ MD
- Chadi Tannoury MDCHADI TANNOURY MD
- Gerald Denis PhDGERALD DENIS PHD
- Jennifer Tseng MDJENNIFER TSENG MD
- Katharine White MDKATHARINE WHITE MD
- Parvez KazmiPARVEZ KAZMI
- Rhoda Alani MDRHODA ALANI MD
- Robert Vinci MDROBERT VINCI MD
- Ronald Iverson MD MPHRONALD IVERSON MD MPH
- Sheila PhicilSHEILA PHICIL
- Susan Budnick MDSUSAN BUDNICK MD
- Tony Tannoury MDTONY TANNOURY MD
- Vicki Jackson MD MPHVICKI JACKSON MD MPH
- William Creevy MDWILLIAM CREEVY MD
- Xinning Li MDXINNING LI MD
Listed under a different title
- David Greer MDDAVID GREER MD: PRS/TRS/DR-REHAB,PRS/TRS/CLK/DR-NEUR then REHAB,PRS/TRS/CLK/DR-NEUR
- Justin LuiJUSTIN LUI: DIRECTOR - EMF (AS OF 9/24) then DIRECTOR - EMF
- Matthew NivisonMATTHEW NIVISON: TREAS/CLK-NEUROSURG & TREAS-OTO then TREAS/CLK-NEUROSURG, TRS-OTO
- Shanshan SheehySHANSHAN SHEEHY: DIRECTOR - EMF (AS OF 9/1/2024) then DIRECTOR - EMF
- Sushrut Waikar MD MPHSUSHRUT WAIKAR MD MPH: PRES/TREAS/DIR - EMF then PRES/TRES/DIR - EMF (UNTIL 9/25)
- Toby Chai MDTOBY CHAI MD: PRES/TREAS/CLERK/DIR - UROLOGY then PRES/TREAS/CLERK/DIR - URO
Totals
- Total revenue
- $138,261,106
- Total expenses
- $145,600,548
- Contributions and grants received
- $0
- Grants paid
- $1,000,500
- Program service revenue
- $137,999,066
- Investment income
- $262,040
- Other revenue
- $0
- Total assets, end of year
- $95,216,696
- Total liabilities, end of year
- $33,569,939
- Net assets or fund balances, end of year
- $61,646,757
- Program services expenses (Part IX)
- $120,298,565
- Management and general expenses
- $25,301,983
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $120,298,565
Program services were 82.6% 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.
-
2a · Program service revenue: PATIENT REVENUE
total $57,164,794 · related or exempt $57,049,865 · unrelated business $114,929
-
2b · Program service revenue: INSTITUTIONAL SUPPORT
total $49,205,016 · related or exempt $49,205,016
-
2c · Program service revenue: REIMBURSEMENT OF OPERATING EXP
total $23,548,390 · related or exempt $23,548,390
-
2d · Program service revenue: CONTRACT & HEALTH CENTER REVENUE
total $5,251,215 · related or exempt $5,251,215
-
2e · Program service revenue: CAPITATION REVENUE
total $1,050,555 · related or exempt $1,050,555
-
2f · All other program service revenue
total $1,779,096 · related or exempt $1,779,096
-
3 · Investment income
total $262,040 · excluded $262,040
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,000,500 · program services $1,000,500
-
5 · Compensation of officers, directors and key employees
total $6,568,101 · program services $5,403,972 · management and general $1,164,129
-
6 · Compensation of disqualified persons
total $730,192 · program services $529,032 · management and general $201,160
-
7 · Other salaries and wages
total $86,275,455 · program services $70,139,554 · management and general $16,135,901
-
9 · Other employee benefits
total $24,330,743 · program services $19,709,256 · management and general $4,621,487
-
11g · Fees: other
total $5,520,423 · program services $4,574,780 · management and general $945,643
-
12 · Advertising and promotion
total $1,577 · program services $1,362 · management and general $215
-
13 · Office expenses
total $317,302 · program services $246,164 · management and general $71,138
-
16 · Occupancy
total $535,599 · program services $399,575 · management and general $136,024
-
17 · Travel
total $150,783 · program services $124,988 · management and general $25,795
-
19 · Conferences, conventions and meetings
total $771,668 · program services $628,332 · management and general $143,336
-
20 · Interest
total $2,495 · program services $1,934 · management and general $561
-
21 · Payments to affiliates
total $5,057,849 · program services $4,107,021 · management and general $950,828
-
22 · Depreciation, depletion and amortization
total $149,786 · program services $108,985 · management and general $40,801
-
23 · Insurance
total $3,072,182 · program services $2,526,583 · management and general $545,599
-
24a · Other expenses: BAD DEBT EXPENSE
total $7,984,382 · program services $7,939,229 · management and general $45,153
-
24b · Other expenses: MEDICAL & SURGICAL SUPP
total $1,747,828 · program services $1,747,828
-
24c · Other expenses: DUES & LICENSES
total $538,178 · program services $435,820 · management and general $102,358
-
24e · All other expenses
total $845,505 · program services $673,650 · management and general $171,855
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $10,580,337 · end of year $11,271,205
-
2 · Savings and temporary cash investments
beginning of year $143,989 · end of year $190,630
-
4 · Accounts receivable
beginning of year $26,535,234 · end of year $25,599,449
-
10a · Land, buildings and equipment: cost or other basis
$10,886,188
-
10b · Land, buildings and equipment: accumulated depreciation
$8,078,474
-
10c · Land, buildings and equipment, net
beginning of year $2,914,651 · end of year $2,807,714
-
11 · Investments: publicly traded securities
beginning of year $45,495,706 · end of year $48,215,710
-
15 · Other assets
beginning of year $12,526,023 · end of year $7,131,988
-
17 · Accounts payable and accrued expenses
beginning of year $10,578,027 · end of year $11,529,785
-
19 · Deferred revenue
beginning of year $2,657,147 · end of year $2,430,268
-
25 · Other liabilities
beginning of year $20,376,742 · end of year $19,609,886
-
27 · Net assets without donor restrictions
beginning of year $64,584,024 · end of year $61,646,757
Mission and programs · 2024
Mission
SEE SCHEDULE O.
-
THE FACULTY PRACTICE PLANS ("THE PLANS") WERE ESTABLISHED AS NOT-FOR-PROFIT CORPORATIONS OPERATING EXCLUSIVELY FOR THE BENEFIT OF BOSTON MEDICAL CENTER AND BOSTON UNIVERSITY CHOBANIAN & AVEDISIAN SCHOOL OF MEDICINE. THE PLANS' PURPOSE IS TO PROVIDE, COORDINATE AND FACILITATE THE DELIVERY OF PATIENT CARE SERVICES AND TO PROMOTE THE DEVELOPMENT OF AN INTEGRATED SYSTEM OF DELIVERY TO MORE EFFICIENTLY AND EFFECTIVELY MEET THE HEALTH CARE NEEDS OF THE COMMUNITIES SERVED BY THE INSTITUTIONS. THE PLANS PROVIDE AMBULATORY SERVICES RANGING FROM PRIMARY ADULT AND PEDIATRIC CARE TO ADVANCED SPECIALTY CARE; AFFILIATED PHYSICIANS ALSO STAFF THE LARGEST 24 HOUR LEVEL 1 TRAUMA CENTER IN NEW ENGLAND.
Expenses $120,298,565 · Grants $1,000,500 · Revenue $137,884,137
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Christopher Andry PhDCHRISTOPHER ANDRY PHD
PRES/TREAS/CLERK/DIR - PATH
- Total calculated
- $0
- Hours/week
- 50
-
Christian Arbelaez MD MPHCHRISTIAN ARBELAEZ MD MPH
PRES/TREAS/CLERK/DIR - ER
- Total calculated
- $0
- Hours/week
- 50 + 4 related
-
Rania Burke PhDRANIA BURKE PHD
DIRECTOR - EMF
- Total calculated
- $0
- Hours/week
- 50
-
Ilse Castro-Aragon MDILSE CASTRO-ARAGON MD
CLERK/DIRECTOR - RADIO
- Total calculated
- $0
- Hours/week
- 50
-
Toby Chai MDTOBY CHAI MD
PRES/TREAS/CLERK/DIR - UROLOGY
- Total calculated
- $0
- Hours/week
- 50
-
Stephen Christiansen MDSTEPHEN CHRISTIANSEN MD
PRES/TREAS/CLERK/DIR - EYE
- Total calculated
- $0
- Hours/week
- 50 + 4 related
-
Gerald Denis MDGERALD DENIS MD
DIRECTOR - EMF
- Total calculated
- $0
- Hours/week
- 50
-
Alik Farber MDALIK FARBER MD
PRES/TREAS/CLERK/DIR - CT,PS,SA,GS
- Total calculated
- $0
- Hours/week
- 50
-
Rosha Forman Cnm MsnROSHA FORMAN CNM MSN
DIRECTOR - OBGYN
- Total calculated
- $0
- Hours/week
- 50
-
David Greer MDDAVID GREER MD
PRS/TRS/DR-REHAB,PRS/TRS/CLK/DR-NEUR
- Total calculated
- $0
- Hours/week
- 50
-
Gregory Grillone MDGREGORY GRILLONE MD
PRES/DIR - OTO
- Total calculated
- $0
- Hours/week
- 50 + 4 related
-
David Henderson MDDAVID HENDERSON MD
PRES/TREAS/CLERK/DIR - PSYCH
- Total calculated
- $0
- Hours/week
- 50
-
Paul Hendessi MDPAUL HENDESSI MD
DIRECTOR - OBGYN
- Total calculated
- $0
- Hours/week
- 50
-
Claudia Hochberg MDCLAUDIA HOCHBERG MD
DIRECTOR - EMF
- Total calculated
- $0
- Hours/week
- 50
-
James Holsapple MDJAMES HOLSAPPLE MD
PRESIDENT/DIRECTOR - NEUROSURG
- Total calculated
- $0
- Hours/week
- 50
-
Ronald Iverson MDRONALD IVERSON MD
DIRECTOR - OBGYN
- Total calculated
- $0
- Hours/week
- 50
-
Padmasini Kandadai MDPADMASINI KANDADAI MD
DIRECTOR - OBGYN
- Total calculated
- $0
- Hours/week
- 50
-
Samantha Kaplan MDSAMANTHA KAPLAN MD
DIRECTOR - OBGYN
- Total calculated
- $0
- Hours/week
- 50
-
Miriam Komaromy MDMIRIAM KOMAROMY MD
DIRECTOR - EMF (UNTIL 8/24)
- Total calculated
- $0
- Hours/week
- 50
-
Christina Lam MDCHRISTINA LAM MD
PRESIDENT/DIRECTOR - DERM
- Total calculated
- $0
- Hours/week
- 50
-
Kettie Louis DnpKETTIE LOUIS DNP
DIRECTOR - OBGYN
- Total calculated
- $0
- Hours/week
- 50
-
Justin LuiJUSTIN LUI
DIRECTOR - EMF (AS OF 9/24)
- Total calculated
- $0
- Hours/week
- 50
-
Katharine O'Connell White MDKATHARINE O'CONNELL WHITE MD
PRESIDENT/DIRECTOR - OBGYN
- Total calculated
- $0
- Hours/week
- 50
-
Rafael Ortega MDRAFAEL ORTEGA MD
PRES/TREAS/CLERK/DIR - ANES
- Total calculated
- $0
- Hours/week
- 50
-
Elijah Paintsil MDELIJAH PAINTSIL MD
PRES/TREAS/CLERK/DIR - CHF
- Total calculated
- $0
- Hours/week
- 50
-
Ashvin Pande MDASHVIN PANDE MD
DIRECTOR - EMF
- Total calculated
- $0
- Hours/week
- 50
-
Susannah Rowe MDSUSANNAH ROWE MD
DIRECTOR - EYE
- Total calculated
- $0
- Hours/week
- 50
-
Shanshan SheehySHANSHAN SHEEHY
DIRECTOR - EMF (AS OF 9/1/2024)
- Total calculated
- $0
- Hours/week
- 50
-
Nicole Siegel MDNICOLE SIEGEL MD
DIRECTOR - EYE
- Total calculated
- $0
- Hours/week
- 50
-
Jorge Soto MDJORGE SOTO MD
PRESIDENT/DIRECTOR - RADIO
- Total calculated
- $0
- Hours/week
- 50
-
Manju Subramanian MDMANJU SUBRAMANIAN MD
DIRECTOR - EYE
- Total calculated
- $0
- Hours/week
- 50 + 4 related
-
Jaroslaw Tkacz MDJAROSLAW TKACZ MD
TREASURER/DIRECTOR - RADIO
- Total calculated
- $0
- Hours/week
- 50
-
Paul Tornetta MDPAUL TORNETTA MD
PRES/TREAS/CLERK/DIR - ORTHO
- Total calculated
- $0
- Hours/week
- 50
-
Minh-Tam Truong MDMINH-TAM TRUONG MD
PRES/TREAS/CLERK/DIR - RAD ONC
- Total calculated
- $0
- Hours/week
- 50
-
Sushrut Waikar MD MPHSUSHRUT WAIKAR MD MPH
PRES/TREAS/DIR - EMF
- Total calculated
- $0
- Hours/week
- 50
-
Stephen Wilson MDSTEPHEN WILSON MD
PRES/TREAS/CLERK/DIR - FAM
- Total calculated
- $0
- Hours/week
- 50
-
Gopala Yadavalli MDGOPALA YADAVALLI MD
DIRECTOR - EMF
- Total calculated
- $0
- Hours/week
- 50
-
David BeckDAVID BECK
SCHEDULE O DISCLOSURE
- Total calculated
- $0
- Hours/week
- 5 + 50 related
-
Carol BoudrotCAROL BOUDROT
CLERK - OBGYN
- Total calculated
- $0
- Hours/week
- 50
-
Jamie LevyJAMIE LEVY
TREASURER/CLERK - DERM
- Total calculated
- $0
- Hours/week
- 50
-
Matthew NivisonMATTHEW NIVISON
TREAS/CLK-NEUROSURG & TREAS-OTO
- Total calculated
- $0
- Hours/week
- 50
-
Jacob Pieter Noordzij MDJACOB PIETER NOORDZIJ MD
CLERK - OTO
- Total calculated
- $0
- Hours/week
- 50 + 4 related
-
Anna PatrushevaANNA PATRUSHEVA
TREASURER - OBGYN
- Total calculated
- $0
- Hours/week
- 50
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.
Grants on this return
-
$1,000,000
CAREER DEVELOPMENT PROFESSORSHIP
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.
-
501(C)(3) · HEALTHCARE · MA
-
501(C)(3) · EDUCATION · MA
-
FACULTY PRACTICE FOUNDATION INC
501(C)(3) · HEALTHCARE · MA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 August 2025
- IRS schema version
- 2024v5.2
- Source object
- 202542259349302529
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