Skip to content
Nonprofiteer
← TUFTS MEDICAL CENTER PARENT INC

Form 990 for tax year 2024

Filed by TUFTS MEDICAL CENTER PARENT INC.

Totals

Total revenue
$1,478,733,790
Total expenses
$1,416,825,897
Contributions and grants received
$55,039,251
Grants paid
$0
Program service revenue
$1,413,545,455
Investment income
$9,145,103
Other revenue
$1,003,981
Total assets, end of year
$893,916,528
Total liabilities, end of year
$1,018,030,140
Net assets or fund balances, end of year
-$124,113,612
Program services expenses (Part IX)
$1,122,422,216
Management and general expenses
$292,140,648
Fundraising expenses
$2,263,033
Program service expenses (Part III)
$1,122,422,216

Program services were 79.2% 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.

  • 1e · Government grants (contributions)

    $41,852,231

  • 1f · All other contributions, gifts and grants

    $13,187,020

  • 1g · Noncash contributions included above

    $214,492

  • 2a · Program service revenue: NET PATIENT SERV. REV.

    total $1,107,317,640 · related or exempt $1,107,317,640

  • 2b · Program service revenue: RESEARCH & MISC. REV.

    total $303,609,252 · related or exempt $303,609,252

  • 2c · Program service revenue: OVERHEAD RECOVERY

    total $2,096,516 · related or exempt $2,096,516

  • 2d · Program service revenue: RESIDENTS & INTERN REV

    total $522,047 · related or exempt $522,047

  • 3 · Investment income

    total $7,286,746 · unrelated business -$109,507 · excluded $7,396,253

  • 5 · Royalties

    total $333,317 · excluded $333,317

  • 6a · Gross rents

    real property $979,170

  • 6b · Less rental expenses

    real property $308,506

  • 6c · Rental income or loss

    real property $670,664

  • 6d · Net rental income or loss

    total $670,664 · excluded $670,664

  • 7a · Gross sales of assets other than inventory

    securities $1,858,357

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

    securities $0

  • 7c · Gain or loss

    securities $1,858,357

  • 7d · Net gain or loss

    total $1,858,357 · excluded $1,858,357

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,452,183 · program services $1,328,925 · management and general $1,123,258

  • 7 · Other salaries and wages

    total $483,577,472 · program services $374,102,443 · management and general $108,139,705 · fundraising $1,335,324

  • 8 · Pension plan contributions

    total $13,290,895 · program services $8,216,593 · management and general $5,074,302

  • 9 · Other employee benefits

    total $67,536,018 · program services $43,911,044 · management and general $23,227,798 · fundraising $397,176

  • 10 · Payroll taxes

    total $37,159,159 · program services $22,972,244 · management and general $14,186,915

  • 11a · Fees: management

    total $970 · program services $970

  • 11b · Fees: legal

    total $464,574 · program services $464,097 · management and general $477

  • 11c · Fees: accounting

    total $66,139 · management and general $66,139

  • 11g · Fees: other

    total $167,249,252 · program services $96,901,968 · management and general $70,059,345 · fundraising $287,939

  • 12 · Advertising and promotion

    total $30,371 · program services $2,058 · management and general $28,313

  • 13 · Office expenses

    total $5,760,659 · program services $4,209,014 · management and general $1,533,419 · fundraising $18,226

  • 14 · Information technology

    total $1,365,500 · program services $1,111,021 · management and general $61,081 · fundraising $193,398

  • 16 · Occupancy

    total $36,935,431 · program services $31,460,472 · management and general $5,474,959

  • 17 · Travel

    total $1,039,757 · program services $980,383 · management and general $57,760 · fundraising $1,614

  • 19 · Conferences, conventions and meetings

    total $18,316 · program services $18,316

  • 20 · Interest

    total $26,741,541 · program services $4,822,910 · management and general $21,918,631

  • 22 · Depreciation, depletion and amortization

    total $39,756,433 · program services $20,724,439 · management and general $19,031,994

  • 23 · Insurance

    total $4,236,018 · program services $14,133 · management and general $4,221,885

  • 24a · Other expenses: SUPPLIES

    total $400,726,585 · program services $391,477,022 · management and general $9,249,563

  • 24b · Other expenses: PHYSICIAN PRACTICE FEES

    total $74,256,281 · program services $77,715,435 · management and general -$3,459,154

  • 24c · Other expenses: BAD DEBT

    total $22,819,523 · program services $22,819,523

  • 24d · Other expenses: EQUIPMENT

    total $4,262,616 · program services $3,157,829 · management and general $1,104,787

  • 24e · All other expenses

    total $27,080,204 · program services $16,011,377 · management and general $11,039,471 · fundraising $29,356

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,519,580 · end of year $11,584,987

  • 2 · Savings and temporary cash investments

    beginning of year $73,627,396 · end of year $44,933,357

  • 3 · Pledges and grants receivable

    beginning of year $15,903,901 · end of year $12,927,735

  • 4 · Accounts receivable

    beginning of year $165,077,267 · end of year $192,644,216

  • 8 · Inventories for sale or use

    beginning of year $21,050,596 · end of year $19,253,901

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,769,751 · end of year $20,826,245

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

    $897,299,591

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

    $573,601,877

  • 10c · Land, buildings and equipment, net

    beginning of year $352,087,102 · end of year $323,697,714

  • 11 · Investments: publicly traded securities

    beginning of year $210,469,000 · end of year $199,593,370

  • 15 · Other assets

    beginning of year $101,902,433 · end of year $68,455,003

  • 17 · Accounts payable and accrued expenses

    beginning of year $103,163,413 · end of year $103,548,727

  • 19 · Deferred revenue

    beginning of year $21,531,519 · end of year $26,867,776

  • 20 · Tax-exempt bond liabilities

    beginning of year $500,892,269 · end of year $488,043,378

  • 25 · Other liabilities

    beginning of year $546,599,678 · end of year $399,570,259

  • 27 · Net assets without donor restrictions

    beginning of year -$223,954,524 · end of year -$140,775,919

  • 28 · Net assets with donor restrictions

    beginning of year $17,174,671 · end of year $16,662,307

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

WE STRIVE TO HEAL, TO COMFORT, TO TEACH, TO LEARN, AND TO SEEK THE KNOWLEDGE TO PROMOTE HEALTH AND TO PREVENT DISEASE. OUR PATIENTS AND THEIR FAMILIES ARE AT THE CENTER OF EVERYTHING WE DO. SEE PART III.

  • TUFTS MEDICAL CENTER, INC. LOCATED IN BOSTON, MA OPERATES A 415 BED ACUTE-CARE GENERAL HOSPITAL ESTABLISHED TO PROVIDE HEALTHCARE SERVICES PRIMARILY IN THE GREATER BOSTON AREA, WHICH ALSO ATTRACTS PATIENTS FROM ELSEWHERE IN NEW ENGLAND AND BEYOND.NEW ENGLAND LONG-TERM CARE, INC. OPERATES AN 80 BED NURSING HOME SPECIALIZING IN THE CARE OF CHILDREN WHO ARE SEVERELY MENTALLY HANDICAPPED AND/OR PHYSICALLY HANDICAPPED.

    Expenses $1,071,065,901 · Revenue $1,412,729,676

  • TUFTS MEDICAL CENTER, INC. ADMINISTERS PROGRAMS FOR APPROXIMATELY 460 INDIVIDUALS: 245 RESIDENTS, 97 INTERNS AND 118 FELLOWS IN 49 SPECIALTIES AND SUB-SPECIALTIES WHO ROTATE TO APPROXIMATELY 47 HOSPITALS AND OTHER ORGANIZATIONS LOCATED PRIMARILY IN THE GREATER BOSTON AREA.

    Expenses $39,110,822 · Revenue $522,047

  • TUFTS MEDICAL CENTER, INC. ENGAGES IN RESEARCH ACTIVITIES FUNDED BY GRANTS AND CONTRACTS FOR U.S. GOVERNMENT AGENCIES AND OTHER PRIVATE SOURCES.

    Expenses $12,245,493 · Revenue $293,732

As filed on the 2024 return.

Listed in Part VII

  • ANN LOUISE PUOPOLO BSN RN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BRIAN KAVOOGIAN

    TRUSTEE, CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ERIKA WERNER MD

    TRUSTEE

    Total calculated
    $966,424
    From this org
    $0
    From related orgs
    $910,622
    Other
    $55,802
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $786,479 related
    Bonus
    $0 + $123,333 related
    Other
    $0 + $810 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $21,302 related
    Filer's total
    $0 + $966,424 related

  • GAUTAM SHRIKHANDE MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GERALD COHEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • HELEN BOUCHER MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 39 related

  • JASON HALL MD

    TRUSTEE

    Total calculated
    $1,064,648
    From this org
    $0
    From related orgs
    $1,029,326
    Other
    $35,322
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $987,479 related
    Bonus
    $0 + $39,605 related
    Other
    $0 + $2,242 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $822 related
    Filer's total
    $0 + $1,064,648 related

  • JOHN HERMAN

    PRESIDENT (AS OF 9/25)

    Total calculated
    $0
    Hours/week
    1

  • KAREN FREUND MD

    TRUSTEE

    Total calculated
    $638,250
    From this org
    $0
    From related orgs
    $578,276
    Other
    $59,974
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $546,443 related
    Bonus
    $0 + $24,975 related
    Other
    $0 + $6,858 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $25,474 related
    Filer's total
    $0 + $638,250 related

  • KEVIN BENNETT

    ASSISTANT TREASURER/TREASURER

    Total calculated
    $287,479
    From this org
    $267,015
    From related orgs
    $0
    Other
    $20,464
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $258,452
    Bonus
    $7,456
    Other
    $1,107
    Deferred
    $7,867
    Nontaxable benefits
    $12,597
    Filer's total
    $287,479

  • LAUREN MAZERALL

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MARGARET BROWN ESQ

    TRUSTEE (UNTIL 2/26/25)

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL DANDORPH

    TRUSTEE

    Total calculated
    $2,678,414
    From this org
    $0
    From related orgs
    $2,307,376
    Other
    $371,038
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,543,189 related
    Bonus
    $0 + $503,750 related
    Other
    $0 + $260,437 related
    Deferred
    $0 + $345,035 related
    Nontaxable benefits
    $0 + $26,003 related
    Filer's total
    $0 + $2,678,414 related

  • PAUL NASSER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PHIL OKALA

    PRESIDENT/TRUSTEE (UNTIL 9/25)

    Total calculated
    $1,816,696
    From this org
    $0
    From related orgs
    $1,780,793
    Other
    $35,903
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,332,791 related
    Bonus
    $0 + $337,500 related
    Other
    $0 + $110,502 related
    Deferred
    $0 + $9,900 related
    Nontaxable benefits
    $0 + $26,003 related
    Filer's total
    $0 + $1,816,696 related

  • RACHEL WASSERSTROM

    TRUSTEE (UNTIL 6/24)/CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $551,232
    From this org
    $506,141
    From related orgs
    $0
    Other
    $45,091
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,481
    Bonus
    $0
    Other
    $330,660
    Deferred
    $43,171
    Nontaxable benefits
    $1,920
    Filer's total
    $551,232

  • REGINA ROCKEFELLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • RENE RUSSO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • REZA VAGEFI MD

    TRUSTEE

    Total calculated
    $947,462
    From this org
    $0
    From related orgs
    $888,029
    Other
    $59,433
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $791,219 related
    Bonus
    $0 + $96,000 related
    Other
    $0 + $810 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $24,933 related
    Filer's total
    $0 + $947,462 related

  • STANLEY GOLDSTEIN

    TRUSTEE (UNTIL 2/26/25)

    Total calculated
    $0
    Hours/week
    1

  • THERESE HUDSON-JINKS

    TRUSTEE

    Total calculated
    $584,467
    From this org
    $511,654
    From related orgs
    $0
    Other
    $72,813
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $414,264
    Bonus
    $31,419
    Other
    $65,971
    Deferred
    $67,664
    Nontaxable benefits
    $5,149
    Filer's total
    $584,467

  • WILLIAM SULLIVAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ANDREW DEVOE

    TREASURER

    Total calculated
    $1,148,895
    From this org
    $0
    From related orgs
    $1,123,052
    Other
    $25,843
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $853,264 related
    Bonus
    $0 + $256,959 related
    Other
    $0 + $12,829 related
    Deferred
    $0 + $6,578 related
    Nontaxable benefits
    $0 + $19,265 related
    Filer's total
    $0 + $1,148,895 related

  • LAUREN RIPLEY ESQ

    ASSISTANT SECRETARY

    Total calculated
    $253,253
    From this org
    $240,889
    From related orgs
    $0
    Other
    $12,364
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $233,580
    Bonus
    $7,107
    Other
    $202
    Deferred
    $4,366
    Nontaxable benefits
    $7,998
    Filer's total
    $253,253

  • ZACHARY REDMOND ESQ

    SECRETARY

    Total calculated
    $693,637
    From this org
    $0
    From related orgs
    $586,258
    Other
    $107,379
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $494,363 related
    Bonus
    $0 + $37,950 related
    Other
    $0 + $53,945 related
    Deferred
    $0 + $81,422 related
    Nontaxable benefits
    $0 + $25,957 related
    Filer's total
    $0 + $693,637 related

  • SARAH MCKAY

    VP OF PATIENT CARE

    Total calculated
    $522,232
    From this org
    $443,514
    From related orgs
    $0
    Other
    $78,718
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $382,980
    Bonus
    $24,000
    Other
    $36,534
    Deferred
    $53,285
    Nontaxable benefits
    $25,433
    Filer's total
    $522,232

  • DIANA RICHARDSON

    FORMER KEY EMPLOYEE

    Total calculated
    $1,224,871
    From this org
    $1,100,883
    From related orgs
    $0
    Other
    $123,988
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $191,997
    Bonus
    $0
    Other
    $908,886
    Deferred
    $118,289
    Nontaxable benefits
    $5,699
    Filer's total
    $1,224,871

  • DOUGLAS CIVIELLO MD

    CHIEF PERFUSIONIST

    Total calculated
    $478,419
    From this org
    $444,235
    From related orgs
    $0
    Other
    $34,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $443,769
    Bonus
    $0
    Other
    $466
    Deferred
    $9,893
    Nontaxable benefits
    $24,291
    Filer's total
    $478,419

  • ERIK GARPESTAD MD

    CMO/SVP MEDICAL STAFF

    Total calculated
    $690,793
    From this org
    $661,775
    From related orgs
    $0
    Other
    $29,018
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $543,860
    Bonus
    $33,409
    Other
    $84,506
    Deferred
    $9,900
    Nontaxable benefits
    $19,118
    Filer's total
    $690,793

  • KARA GREER

    SVP CHIEF TALENT OFFICER

    Total calculated
    $637,324
    From this org
    $558,700
    From related orgs
    $0
    Other
    $78,624
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $392,493
    Bonus
    $124,000
    Other
    $42,207
    Deferred
    $62,229
    Nontaxable benefits
    $16,395
    Filer's total
    $637,324

  • NANCY BRUCE

    VP CARDIOVASCULAR SERVICE LINE

    Total calculated
    $403,773
    From this org
    $381,403
    From related orgs
    $0
    Other
    $22,370
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $321,191
    Bonus
    $19,920
    Other
    $40,292
    Deferred
    $4,597
    Nontaxable benefits
    $17,773
    Filer's total
    $403,773

  • KYLE HOOK MD

    PERFUSIONIST

    Total calculated
    $414,008
    From this org
    $381,322
    From related orgs
    $0
    Other
    $32,686
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $381,051
    Bonus
    $0
    Other
    $271
    Deferred
    $8,632
    Nontaxable benefits
    $24,054
    Filer's total
    $414,008

  • ASSAD SIDDIQI

    FORMER SENIOR VP FINANCE

    Total calculated
    $302,395
    From this org
    $233,414
    From related orgs
    $0
    Other
    $68,981
    Hours/week
    0 + 39 related

    Schedule J breakdown matched by us

    Base
    $233,183
    Bonus
    $0
    Other
    $231
    Deferred
    $62,379
    Nontaxable benefits
    $6,602
    Filer's total
    $302,395

  • F CLARISSA YANG MD

    FORMER TRUSTEE

    Total calculated
    $803,023
    From this org
    $0
    From related orgs
    $766,336
    Other
    $36,687
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $631,770 related
    Bonus
    $0 + $132,756 related
    Other
    $0 + $1,810 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $2,187 related
    Filer's total
    $0 + $803,023 related

  • MARVIN A KONSTAM MD

    FORMER TRUSTEE

    Total calculated
    $520,503
    From this org
    $0
    From related orgs
    $460,529
    Other
    $59,974
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $435,405 related
    Bonus
    $0 + $14,000 related
    Other
    $0 + $11,124 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $25,474 related
    Filer's total
    $0 + $520,503 related

  • MICHAEL TARNOFF MD

    FORMER TRUSTEE

    Total calculated
    $1,745,976
    From this org
    $1,564,033
    From related orgs
    $0
    Other
    $181,943
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $279,442
    Bonus
    $0
    Other
    $1,284,591
    Deferred
    $174,124
    Nontaxable benefits
    $7,819
    Filer's total
    $1,745,976

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
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

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

The filer's explanations (Part III)

PART I, LINES 4A-B
LINE 4A: MICHAEL TARNOFF RECEIVED $767,746 IN SEVERANCE PAY DURING CALENDAR YEAR 2024. RACHEL WASSERSTROM RECEIVED $190,522 IN SEVERANCE PAY DURING CALENDAR YEAR 2024. DIANA RICHARDSON RECEIVED $528,329 IN SEVERANCE PAY DURING CALENDAR YEAR 2024.
990, PART VII, SECTION A. LINE 5
HELEN BOUCHER, M.D. RECEIVED COMPENSATION FROM TUFTS UNIVERSITY, AN UNRELATED ORGANIZATION, FOR SERVICES RENDERED TO TUFTS MEDICINE, INC.
PART 1, LINE 4B:
SECTION 457(F) RETIREMENT PLAN EMPLOYER DEFERRALS: ASSAD SIDDIQI: $56,259 KARA GREER: $52,998 MICHAEL DANDORPH: $335,135 SARAH MCKAY: $43,385 THERESE HUDSON-JINKS: $57,764 ZACHARY REDMOND: $74,285 MICHAEL TARNOFF $165,561 RACHEL WASSERSTROM: $37,906 DIANA RICHARDSON: $112,372

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
2024
IRS schema version
2024v5.5
Source object
202622269349302082

The source document this was parsed from is served over the API, which is where bulk and document access live.