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← PHYSICAL MEDICINE SPECIALISTS INC

Form 990 for tax year 2024

Filed by PHYSICAL MEDICINE SPECIALISTS INC.

Totals

Total revenue
$11,788,964
Total expenses
$15,420,762
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$11,624,200
Investment income
$87,370
Other revenue
$77,394
Total assets, end of year
$3,511,402
Total liabilities, end of year
$19,843,694
Net assets or fund balances, end of year
-$16,332,292
Program services expenses (Part IX)
$12,953,786
Management and general expenses
$2,466,976
Fundraising expenses
$0
Program service expenses (Part III)
$12,953,786

Program services were 84.0% 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 $9,656,551 · related or exempt $9,656,551

  • 2b · Program service revenue: Physician Service Revenue

    total $1,967,649 · related or exempt $1,967,649

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $87,370 · excluded $87,370

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Internal Purchased Services

    total $62,727 · excluded $62,727

  • 11b · Other revenue: Other Revenue

    total $14,667 · excluded $14,667

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $77,394

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $887,622 · program services $816,612 · management and general $71,010

  • 7 · Other salaries and wages

    total $9,006,490 · program services $8,285,971 · management and general $720,519

  • 8 · Pension plan contributions

    total $301,804 · program services $277,660 · management and general $24,144

  • 9 · Other employee benefits

    total $493,439 · program services $453,964 · management and general $39,475

  • 10 · Payroll taxes

    total $608,503 · program services $559,823 · management and general $48,680

  • 11a · Fees: management

    total $1,314,026 · management and general $1,314,026

  • 11b · Fees: legal

    total $2,125 · management and general $2,125

  • 11c · Fees: accounting

    total $3,383 · management and general $3,383

  • 11g · Fees: other

    total $229,096 · program services $130,488 · management and general $98,608 · fundraising $0

  • 12 · Advertising and promotion

    total $8,257 · program services $8,257

  • 13 · Office expenses

    total $80,684 · program services $13,716 · management and general $66,968

  • 14 · Information technology

    total $3,379 · program services $2,664 · management and general $715

  • 16 · Occupancy

    total $141,951 · program services $129,175 · management and general $12,776

  • 17 · Travel

    total $87,416 · program services $45,456 · management and general $41,960

  • 19 · Conferences, conventions and meetings

    total $39,259 · program services $37,591 · management and general $1,668

  • 22 · Depreciation, depletion and amortization

    total $209,194 · program services $188,275 · management and general $20,919

  • 23 · Insurance

    total $117,440 · program services $117,440

  • 24a · Other expenses: Pharmaceuticals

    total $1,826,304 · program services $1,826,304

  • 24b · Other expenses: Dues & Subscriptions

    total $39,408 · program services $39,408

  • 24c · Other expenses: Medical Supplies

    total $20,881 · program services $20,881

  • 24d · Other expenses: Licenses

    total $101 · program services $101

  • 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 $791,841 · end of year $997,078

  • 4 · Accounts receivable

    beginning of year $1,100,585 · end of year $527,234

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $185,406 · end of year $255,169

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

    $2,632,956

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

    $901,035

  • 10c · Land, buildings and equipment, net

    beginning of year $1,929,440 · end of year $1,731,921

  • 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 $1,000,680 · end of year $1,231,095

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $15,707,086 · end of year $18,612,599

  • 27 · Net assets without donor restrictions

    beginning of year -$12,700,494 · end of year -$16,332,292

Mission and programs · 2024

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.

  • 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 2024, THE MEDICAL GROUP HAD 95,117 PATIENT ENCOUNTERS. THEY ALSO PROVIDE MEDICAL EDUCATION TO UNIVERSITY OF FLORIDA RESIDENTS, THE MEDICAL COMMUNITY AND THE JACKSONVILLE COMMUNITY AT LARGE.

    Expenses $12,953,786 · Revenue $11,624,200

As filed on the 2024 return.

Listed in Part VII

  • Douglas M Baer

    Chairman / CEO

    Total calculated
    $902,095
    From this org
    $0
    From related orgs
    $830,737
    Other
    $71,358
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $607,792 related
    Bonus
    $0 + $219,084 related
    Other
    $0 + $3,861 related
    Deferred
    $0 + $53,500 related
    Nontaxable benefits
    $0 + $17,858 related
    Filer's total
    $0 + $902,095 related

  • J Britton Tabor

    SEC. / TREAS. / CFO

    Total calculated
    $619,949
    From this org
    $0
    From related orgs
    $593,761
    Other
    $26,188
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $431,586 related
    Bonus
    $0 + $158,314 related
    Other
    $0 + $3,861 related
    Deferred
    $0 + $18,021 related
    Nontaxable benefits
    $0 + $8,167 related
    Filer's total
    $0 + $619,949 related

  • Eric Mann

    Board Member

    Total calculated
    $45,900
    From this org
    $0
    From related orgs
    $45,900
    Other
    $0
    Hours/week
    1 + 7 related

  • Howard C Serkin

    Board Member

    Total calculated
    $33,600
    From this org
    $0
    From related orgs
    $33,600
    Other
    $0
    Hours/week
    1 + 7 related

  • Trevor Paris MD

    Vice President / Medical Director

    Total calculated
    $654,205
    From this org
    $0
    From related orgs
    $596,797
    Other
    $57,408
    Hours/week
    10 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $425,653 related
    Bonus
    $0 + $166,604 related
    Other
    $0 + $4,540 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $26,908 related
    Filer's total
    $0 + $654,205 related

  • Howard B Weiss MD

    Medical Director

    Total calculated
    $578,013
    From this org
    $528,257
    From related orgs
    $0
    Other
    $49,756
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $524,396
    Bonus
    $0
    Other
    $3,861
    Deferred
    $26,744
    Nontaxable benefits
    $23,012
    Filer's total
    $578,013

  • Kenneth Ngo MD

    Medical Director

    Total calculated
    $423,224
    From this org
    $359,366
    From related orgs
    $0
    Other
    $63,858
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $358,843
    Bonus
    $0
    Other
    $523
    Deferred
    $46,000
    Nontaxable benefits
    $17,858
    Filer's total
    $423,224

  • Brian Higdon MD

    PHYSIATRIST

    Total calculated
    $367,887
    From this org
    $332,680
    From related orgs
    $0
    Other
    $35,207
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $332,388
    Bonus
    $0
    Other
    $292
    Deferred
    $22,846
    Nontaxable benefits
    $12,361
    Filer's total
    $367,887

  • Geneva Tonuzi MD

    PHYSIATRIST

    Total calculated
    $414,763
    From this org
    $391,763
    From related orgs
    $0
    Other
    $23,000
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $391,240
    Bonus
    $0
    Other
    $523
    Deferred
    $23,000
    Nontaxable benefits
    $0
    Filer's total
    $414,763

  • Jorge Perez-Lopez MD

    PHYSIATRIST

    Total calculated
    $501,152
    From this org
    $461,892
    From related orgs
    $0
    Other
    $39,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $461,534
    Bonus
    $0
    Other
    $358
    Deferred
    $21,499
    Nontaxable benefits
    $17,761
    Filer's total
    $501,152

  • Parag Shah MD

    PHYSIATRIST

    Total calculated
    $371,432
    From this org
    $317,386
    From related orgs
    $0
    Other
    $54,046
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $316,817
    Bonus
    $0
    Other
    $569
    Deferred
    $36,188
    Nontaxable benefits
    $17,858
    Filer's total
    $371,432

  • Pierre Galea MD

    PHYSIATRIST

    Total calculated
    $380,971
    From this org
    $350,988
    From related orgs
    $0
    Other
    $29,983
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $350,623
    Bonus
    $0
    Other
    $365
    Deferred
    $13,200
    Nontaxable benefits
    $16,783
    Filer's total
    $380,971

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

  • 6a · Pay contingent on this organization's net earnings

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
  • 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)

Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization
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.
Schedule J, 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.

  • HB Deltona Rehabilitative Services

    N/A · Outpatient Rehabilitation · FL

    Directly controlled by NA

Related corporations and trusts

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

  • GH HOLDINGS INC

    C Corporation · HOLDING COMPANY · FL

    Directly controlled by NA

  • GH MANAGEMENT INC

    C Corporation · HOLDING COMPANY · FL

    Directly controlled by NA

  • GENESIS MANAGEMENT SERVICES INC

    C Corporation · MANAGEMENT SERVICES · FL

    Directly controlled by NA

  • GH MEDICAL SERVICES INC

    C Corporation · MEDICAL SERVICES · FL

    Directly controlled by NA

  • GH PARTNERSHIP HOLDINGS PPA INC

    C Corporation · INVESTMENT HOLDINGS · FL

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.1
Source object
202503189349314400

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