Northeast Medical Practice Inc
- Assets
- $9.4m
- Revenue
- $29.0m
- Investments
- $0.0
- Employees
- 201
- Location
- Beverly, MA
- Founding
- 12/1996
- Data as of
- 09/2020
- EIN
- 04-3201853
Organization Overview
Northeast Medical Practice Inc is located in Beverly, MA. The organization was established in 1996. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 09/2021, Northeast Medical Practice Inc employed 201 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Medical Practice 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 09/2020, Northeast Medical Practice Inc generated $29.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $47.3m during the year ending 09/2020. While expenses have increased by 5.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
NORTHEAST MEDICAL PRACTICE'S (NMP) PRIMARY MISSION IS TO PROVIDE HIGH QUALITY MEDICAL CARE TO THE PATIENTS OF NORTHEAST HOSPITAL CORPORATION (BEVERLY HOSPITAL, ADDISON GILBERT HOSPITAL AND BAYRIDGE HOSPITAL). NMP ACCOMPLISHES ITS MISSION IN CONJUNCTION WITH THE BETH ISRAEL LAHEY HEALTH (BILH) NETWORK OF AFFILIATES AS DESCRIBED FURTHER IN THIS FORM 990.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arsenian Michael Cardiologist | 55 | $695,817 | |
Loughery Edward Cardiologist | 55 | $686,428 | |
Kahan David Cardiologist | 55 | $553,483 | |
Elvanides Harry Gastroenterologist | 55 | $532,516 | |
Abou-Ezzi MD Pierre Physician | 55 | $475,957 | |
Mccullough MD Daniel J Medical Director | Officer | 55 | $353,632 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beth Israel Lahey Health Inc (R) Beth Israel Lahey Health Professional Se | 9/29/21 | $3,001,035 |
Westwood Psychiatry Pc Medical Services | 9/29/21 | $477,350 |
Essex County Obgyn Medical Services | 9/29/21 | $343,612 |
Charter Health Pc (R) Medical Services | 9/29/21 | $220,030 |
Northeast Emergency Assoc Pc Medical Services | 9/29/21 | $9,624,968 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $558,951 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $80,749 |
| 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 | $29,044,634 |
| Statement of Expenses | |
|---|---|
| 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. | $284,938 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,772,632 |
| Pension plan accruals and contributions | $51,858 |
| Other employee benefits | $2,312,568 |
| Payroll taxes | $1,332,970 |
| 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 | $11,513,820 |
| Advertising and promotion | $350 |
| Office expenses | $327,117 |
| Information technology | $18,738 |
| Royalties | $0 |
| Occupancy | $1,698,822 |
| Travel | $67,982 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $426,300 |
| Insurance | $598,497 |
| All other expenses | $0 |
| Total functional expenses | $47,336,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,200 |
| Savings and temporary cash investments | $1,373,869 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,361,679 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $449,833 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $178,126 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,633,767 |
| Other assets | $1,619,371 |
| Total assets | $9,391,030 |
| Accounts payable and accrued expenses | $4,665,057 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,907,982 |
| Total liabilities | $9,573,039 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$182,009 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Core Physicians Llc Exeter, NH | $19,371,760 | $100,280,879 |
Fenway Community Health Center Inc Boston, MA | $98,106,829 | $102,495,347 |
Lawrence Medical Associates Pc Bronxville, NY | $43,959,801 | $93,174,617 |
Thundermist Health Center Woonsocket, RI | $55,440,960 | $90,981,582 |
South Shore Medical Center Norwell, MA | $68,415,013 | $83,043,739 |
Carnegie Cardiovascular Pc Westbury, NY | $1,096,228 | $75,454,558 |
Covenant Health Inc Tewksbury, MA | $176,504,110 | $66,693,555 |
Trinity Medical Wny Pc Buffalo, NY | $24,179,434 | $52,294,640 |
Crouse Medical Practice Pllc Syracuse, NY | $6,246,472 | $39,486,299 |
Charles B Wang Community Health Center Inc New York, NY | $110,483,270 | $118,467,923 |
Brooklyn Ambulatory Care Pc Westbury, NY | $0 | $53,362,368 |
Optimus Health Care Inc Bridgeport, CT | $28,924,090 | $61,091,096 |