Foundation Medical Partners Inc
- Assets
- $57.1m
- Revenue
- $125.3m
- Investments
- $0.0
- Employees
- 1,017
- Location
- Nashua, NH
- Founding
- 07/1993
- Data as of
- 06/2023
- EIN
- 02-0456218
Organization Overview
Foundation Medical Partners Inc is located in Nashua, NH. The organization was established in 1993. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., under the broad grouping of Health Care and related organizations. As of 06/2023, Foundation Medical Partners Inc employed 1,017 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Medical Partners Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Foundation Medical Partners Inc generated $125.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $164.9m during the year ending 06/2023. While expenses have increased by 3.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS DEDICATED TO PROVIDING EXCEPTIONAL CARE THAT IMPROVES THE HEALTH AND WELL-BEING OF INDIVIDUALS AND COMMUNITIES WE SERVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH CARE SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Maynard MD Trustee | Trustee | 42 | $781,132 |
Colin T Mchugh Snhmc President/ceo/secretary | OfficerTrustee | 2 | $0 |
James Watkins Fmp Interim President | OfficerTrustee | 40 | $0 |
Marc Sadowsky MD Trustee | Trustee | 2 | $0 |
Melliyal Annamalai Trustee | Trustee | 2 | $0 |
Sister Paula Marie Buley Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medicus Radiology Services Llc Professional Services | 6/29/23 | $844,621 |
Weatherby Locum Professional Services | 6/29/23 | $621,677 |
Virtual Radiologic Corp Medical Services | 6/29/23 | $550,861 |
Asd Specialty Healthcare Inc Professional Services | 6/29/23 | $479,153 |
Medicus Healthcare Solutions Llc Professional Services | 6/29/23 | $242,194 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,384,443 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,384,443 |
| Total Program Service Revenue | $122,539,200 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,388,297 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $125,311,940 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,860,323 |
| Compensation of current officers, directors, key employees. | $1,860,323 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,071,096 |
| Pension plan accruals and contributions | $4,997,252 |
| Other employee benefits | $8,814,998 |
| Payroll taxes | $5,490,023 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,160,201 |
| Advertising and promotion | $97,633 |
| Office expenses | $376,159 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,914,994 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $644,253 |
| Interest | $234,200 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $841,350 |
| Insurance | $2,826,841 |
| All other expenses | $82,156 |
| Total functional expenses | $164,929,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,629,488 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $511,782 |
| Prepaid expenses and deferred charges | $2,042,825 |
| Net Land, buildings, and equipment | $5,174,628 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,639,568 |
| Other assets | $36,149,438 |
| Total assets | $57,147,729 |
| Accounts payable and accrued expenses | $6,389,696 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,332,745 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $49,788,456 |
| Total liabilities | $59,510,897 |
| Net assets without donor restrictions | -$2,363,168 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $57,147,729 |