Childrens Hospital Radiology Foundation Inc
- Assets
- $61.7m
- Revenue
- $42.0m
- Investments
- $0.0
- Employees
- 52
- Location
- Boston, MA
- Founding
- 07/1996
- Data as of
- 09/2021
- EIN
- 04-3259647
Organization Overview
Childrens Hospital Radiology Foundation Inc is located in Boston, MA. The organization was established in 1996. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 09/2021, Childrens Hospital Radiology Foundation Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Childrens Hospital Radiology 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, Childrens Hospital Radiology Foundation Inc generated $42.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $37.3m during the year ending 09/2021. While expenses have increased by 3.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION PROVIDES MEDICAL, SCIENTIFIC, AND EDUCATIONAL SERVICES FOR THE (SEE SCHEDULE O) PATIENTS OF BOSTON CHILDREN'S HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES RADIOLOGY SERVICES TO PATIENTS AT BOSTON CHILDREN'S HOSPITAL. IT ALSO CARRIES ON AND PROMOTES BASIC AND APPLIED MEDICAL RESEARCH AND EDUCATION IN THE FIELD OF PEDIATRIC RADIOLOGY BY TEACHING STUDENTS AND OTHER MEDICAL AND SCIENTIFIC PERSONNEL; BY PROVIDING OR SUPPLEMENTING INCOME TO RESEARCH PERSONNEL THROUGH FELLOWSHIPS, RESEARCH GRANTS, AND STIPENDS; AND BY GIVING LECTURES AND PUBLISHING INFORMATION REGARDING PROBLEMS AND RESEARCH RESULTS IN THE FIELD OF PEDIATRIC RADIOLOGY IN ORDER TO EDUCATE THE MEDICAL PROFESSION AND THE GENERAL PUBLIC. THE FOUNDATION MAY CHARGE FOR PATIENT CARE AND OTHER MEDICAL SERVICES, PROVIDED THAT ANY NET INCOME BE USED EXCLUSIVELY FOR THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES FOR WHICH THE FOUNDATION WAS CREATED. THE FOUNDATION (SEE SCHEDULE O) PROVIDES CARE TO PATIENTS WHO MEET CERTAIN CRITERIA UNDER THE HOSPITAL'S FREE-CARE POLICY WITHOUT CHARGE OR AT AN AMOUNT LESS THAN ITS ESTABLISHED RATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Robertson MD President (10/20-8/21) | OfficerTrustee | 55 | $648,286 |
Irene G Paresky Employee | 1 | $619,865 | |
Ahmad Alomari MD Radiologist | 60 | $595,427 | |
Darren B Orbach MD PHD Director (10/20-11/20) | Trustee | 60 | $594,019 |
Horacio Paduamd Director (12/20-9/21) | Trustee | 60 | $524,141 |
Caroline D Robson MD Director | Trustee | 60 | $486,551 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Merrill Lynch Investment Management | 9/29/21 | $212,922 |
Advantedge Healthcare Solutions Billing Services | 9/29/21 | $277,954 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $22,906 |
| Government grants | $0 |
| 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 | $22,906 |
| Total Program Service Revenue | $36,822,178 |
| Investment income | $816,683 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,286,563 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,980,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $547,763 |
| 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. | $5,761,723 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,407,098 |
| Pension plan accruals and contributions | $3,659,860 |
| Other employee benefits | $2,548,791 |
| Payroll taxes | $623,909 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,172 |
| Fees for services: Accounting | $32,181 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $212,922 |
| Fees for services: Other | $663,573 |
| Advertising and promotion | $0 |
| Office expenses | $397,459 |
| Information technology | $33,165 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,052 |
| 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 | $35,961 |
| Insurance | $839,279 |
| All other expenses | $287,892 |
| Total functional expenses | $37,258,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,131,677 |
| Savings and temporary cash investments | $9,083,405 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,871,685 |
| Loans from Officers, Directors, or Controlling Persons | $67,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,333 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $219,639 |
| Net Land, buildings, and equipment | $92,972 |
| Investments—publicly traded securities | $42,229,376 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,965,055 |
| Total assets | $61,711,142 |
| Accounts payable and accrued expenses | $994,294 |
| Grants payable | $2,899,551 |
| 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 | $11,463,466 |
| Total liabilities | $15,357,311 |
| Net assets without donor restrictions | $43,913,826 |
| Net assets with donor restrictions | $2,440,005 |
| 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 | $61,711,142 |
Endowment Analysis
| Beg. Balance | $3,757,227 |
| Net Contributions | $22,906 |
| Other Expense | $1,340,128 |
| Ending Balance | $2,440,005 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milford Regional Physician Group Inc Milford, MA | $55,077,326 | $98,396,869 |
Montefiore Medicine Academic Health Self Insurance Trist Bronx, NY | $287,426,872 | $78,028,348 |
Circle Health Physicians Inc Lowell, MA | $24,693,078 | $78,082,073 |
Cancer Care Co-Payment Assistance Foundation Inc New York, NY | $80,171,765 | $74,806,659 |
Hss Properties Corporation New York, NY | $595,585,404 | $72,958,189 |
Royal Charter Properties - East Inc New York, NY | $212,621,601 | $60,926,484 |
Northeast Professional Registry Of Nurses Inc Beverly, MA | $69,495,666 | $57,554,389 |
Childrens Hospital Radiology Foundation Inc Boston, MA | $61,711,142 | $41,980,369 |
Marcus Avenue Medical Pc Westbury, NY | $15,403,274 | $17,010,236 |
Health & Welfare Fund Of Intern Tional Union Of Operating Engi Quincy, MA | $26,422,414 | $20,857,874 |
Rhode Island Hospital Foundation Providence, RI | $69,328,658 | $16,409,972 |
Alliance Health Of Quincy Inc Southborough, MA | $18,309,564 | $19,847,469 |