C H M C Anesthesia Foundation Inc

Organization Overview

C H M C Anesthesia Foundation Inc is located in Boston, MA. The organization was established in 1981. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 09/2021, C H M C Anesthesia Foundation Inc employed 160 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. C H M C Anesthesia Foundation 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 09/2021, C H M C Anesthesia Foundation Inc generated $156.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $132.8m during the year ending 09/2021. While expenses have increased by 7.3% per year over the past 6 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.

Since 2018, C H M C Anesthesia Foundation Inc has awarded 20 individual grants totaling $3,554,364. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE FOUNDATION PROVIDES MEDICAL RESEARCH AND EDUCATIONAL SERVICES TO BOSTON (SEE SCHEDULE O) CHILDREN'S HOSPITAL AND HARVARD MEDICAL SCHOOL. THE FOUNDATION ALSO PROVIDES CARE FOR PATIENTS IN MASSACHUSETTS REGARDLESS OF THEIR ABILITY TO PAY, AS WELL AS PROVIDING AND SUPPORTING HOSPITAL AND COMMUNITY BASED SERVICES THAT ARE EITHER UNAVAILABLE OR LIMITED ELSEWHERE IN THE COMMUNITY.

Describe the Organization's Program Activity:

THE CHMC ANESTHESIA FOUNDATION, INC. (THE FOUNDATION) PROVIDES ANESTHESIA AND INTENSIVE CARE SERVICES TO THE PATIENTS OF BOSTON CHILDREN'S HOSPITAL AND AT SATELLITE LOCATIONS. THE FOUNDATION MAY CHARGE FOR PATIENT CARE AND OTHER MEDICAL SERVICES, WHERE ANY NET INCOME GENERATED IS USED EXCLUSIVELY FOR THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES FOR WHICH THE FOUNDATION WAS CREATED. THE FOUNDATION ALSO PROVIDES CARE FOR PATIENTS IN NEED OF ANESTHESIA AND INTENSIVE CARE SERVICES, REGARDLESS OF THEIR ABILITY TO PAY, AS WELL AS PROVIDING AND SUPPORTING HOSPITAL AND COMMUNITY BASED SERVICES THAT ARE EITHER UNAVAILABLE OR LIMITED ELSEWHERE IN THE COMMUNITY.


THE FOUNDATION RECEIVES INCOME FROM BOSTON CHILDREN'S HOSPITAL (THE HOSPITAL) FOR PROVIDING ADMINISTRATION, SUPERVISION, AND TEACHING SERVICES. THE PHYSICIANS EMPLOYED BY THE FOUNDATION PERFORM MEDICAL RESEARCH AND TEACHING ACTIVITIES, GIVE LECTURES, PUBLISH RELATED EDUCATIONAL ARTICLES, AND PIONEER MANY DEVELOPMENTS IN THE FIELD. ALL OF THESE ACTIVITIES PLAY A CRITICAL ROLE IN THE TREATMENT AND RECOVERY OF PATIENTS AT THE HOSPITAL AND MAKES POSSIBLE THE SURGICAL ADVANCES FOR WHICH THE HOSPITAL IS RENOWNED.


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Board, Officers & Key Employees

Name (title)Compensation
Paul R Hickey MD
Former Officer
$1,041,250
James A Dinardo MD
Director
$930,240
Joseph P Cravero MD
President/treasurer
$921,874
Jeffrey Burns MD
Director
$828,588
Pete Kovatsis MD
Physician
$742,347
David Waisel MD
Physician
$714,520

Outside Vendors & Contractors

Vendor Name (Service)Compensation
The Wagner Law Group
Legal Services
$419,534
Bny Mellon
Investment Advisor
$194,730
3edge Asset Management
Investment Advisor
$715,399
Sarah Zack Hewitt
Crna Services
$135,111
William Clarke
Physician Services
$125,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$335,000
Government grants $11,565,967
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$11,900,967
Total Program Service Revenue$119,477,701
Investment income $2,188,414
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $8,625,738
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $156,600,655

Grants Awarded

Over the last fiscal year, C H M C Anesthesia Foundation Inc has awarded $1,094,107 in support to 3 organizations.

Grant RecipientAmount

BOSTON CHILDREN'S HOSPITAL

Org PageRecipient Profile

Boston, MA

PURPOSE: General support

$1,079,107

New York, NY

PURPOSE: General support

$10,000

GREATER BOSTON FOOD BANK

Org PageRecipient Profile

Boston, MA

PURPOSE: General support

$5,000
View Grant Profile

Endowment Analysis

Beg. Balance$178,818
Net Contributions$14,005,776
Other Expense$13,871,776
Ending Balance$312,818

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