University Surgical Associates Inc
- Assets
- $57.1m
- Revenue
- $42.9m
- Investments
- $0.0
- Employees
- 275
- Location
- Rumford, RI
- Founding
- 04/1982
- Data as of
- 09/2021
- EIN
- 05-0389803
Organization Overview
University Surgical Associates Inc, operating under the name Brown Surgical Associates Inc, is located in Rumford, RI. The organization was established in 1982. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. As of 09/2021, Brown Surgical Associates Inc employed 275 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brown Surgical Associates 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, Brown Surgical Associates Inc generated $42.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $45.7m 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.
Since 2015, Brown Surgical Associates Inc has awarded 26 individual grants totaling $455,700. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UNIVERSITY SURGICAL ASSOCIATES, INC. IS A NONPROFIT CORPORATION FOUNDED TO PROVIDE DIAGNOSIS AND TREATMENT OF DISORDERS FOR PATIENTS OF RHODE ISLAND HOSPITAL AND OTHERS REQUIRING SURGERY, TO CONDUCT RESEARCH IN THE FIELD OF SURGERY, AND TO TEACH PHYSICIANS, MEDICAL STUDENTS AND OTHER HEALTH CARE PERSONNEL IN THE FIELD OF SURGERY.
Describe the Organization's Program Activity:
PROVIDES DIAGNOSIS AND TREATMENT OF DISORDERS AND SURGERY FOR PATIENTS AS WELL AS RESEARCH IN SURGERY AND RELATED FIELDS, AND PROVIDES INSTRUCTION IN SURGERY AND RELATED FIELDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Cioffi MD President | OfficerTrustee | 40 | $609,235 |
Charles Adams MD Trustee | Trustee | 40 | $550,149 |
Peter Mazzaglia MD Physician | 40 | $496,806 | |
David Harrington MD Trustee | Trustee | 40 | $475,895 |
Francois Luks MD Physician | 40 | $454,535 | |
Stephen Migliori MD Vice President/treasurer | OfficerTrustee | 40 | $450,794 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
City Personnel Inc Temporary Employee Service | 9/29/16 | $136,834 |
New England Medical Billng Inc Medical Billing Services | 9/29/16 | $961,932 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,515,644 |
| 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 | $2,515,644 |
| Total Program Service Revenue | $36,790,118 |
| Investment income | $588,977 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,057,753 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,930,028 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,500 |
| 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. | $4,589,062 |
| Compensation of current officers, directors, key employees. | $413,016 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,432,506 |
| Pension plan accruals and contributions | $2,555,036 |
| Other employee benefits | $5,914,519 |
| Payroll taxes | $1,510,748 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,952 |
| Fees for services: Accounting | $93,955 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $146,338 |
| Fees for services: Other | $2,152,060 |
| Advertising and promotion | $90,717 |
| Office expenses | $370,269 |
| Information technology | $232,430 |
| Royalties | $0 |
| Occupancy | $1,729,694 |
| Travel | $10,589 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,138 |
| Interest | $29,763 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $205,583 |
| Insurance | $1,406,888 |
| All other expenses | $0 |
| Total functional expenses | $45,694,688 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,438,910 |
| Savings and temporary cash investments | $246,818 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,789,675 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $107,200 |
| Net Land, buildings, and equipment | $451,966 |
| Investments—publicly traded securities | $43,989,819 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $146,256 |
| Other assets | $3,932,019 |
| Total assets | $57,102,663 |
| Accounts payable and accrued expenses | $4,063,669 |
| Grants payable | $50,000 |
| Deferred revenue | $405,755 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,004,889 |
| Total liabilities | $24,674,313 |
| Net assets without donor restrictions | $31,986,176 |
| Net assets with donor restrictions | $442,174 |
| 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 | $57,102,663 |
Grants Awarded
Over the last fiscal year, University Surgical Associates Inc has awarded $21,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Providence, RI PURPOSE: SUPPORT FOR HASBRO GOLF INVITATIONAL, SPONSOR FOR ANNUAL HASBRO HEREOS BALL | $11,000 |
Kennesaw, GA PURPOSE: SUPPORT FOR ANNUAL CANCER WALK | $5,000 |
Providence, RI PURPOSE: SPONSOSHIP FOR ANNUAL FUNDRAISER | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that University Surgical Associates Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Foundation Forsurgical Fellowships Los Angeles, CA PURPOSE: General Support | $10,000 |
Endowment Analysis
| Beg. Balance | $342,642 |
| Earnings | $72,837 |
| Other Expense | $500 |
| Ending Balance | $414,979 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Common Wealth Clinical Alliance Inc Boston, MA | $145,104,803 | $101,479,734 |
Brown Medicine Providence, RI | $89,415,313 | $97,515,476 |
Berkshire Faculty Services Inc Pittsfield, MA | $16,167,156 | $58,402,270 |
Sturdy Memorial Associates Inc Attleboro, MA | $19,705,224 | $68,098,558 |
Hallmark Health Medical Associates Inc Medford, MA | $10,734,913 | $53,080,416 |
Brown Emergency Medicine Providence, RI | $33,521,686 | $72,293,129 |
Natchaug Hospital Inc Mansfield Center, CT | $22,707,935 | $46,468,531 |
Uphams Corner Health Committee Inc Dorchester, MA | $23,283,775 | $48,958,688 |
Faculty Practice Foundation Inc Boston, MA | $98,365,059 | $45,984,440 |
University Surgical Associates Inc Rumford, RI | $57,102,663 | $42,930,028 |
Jordan Physician Associates Inc Plymouth, MA | $15,971,092 | $31,653,632 |
Griffin Faculty Physicians Inc Derby, CT | $13,034,587 | $29,375,664 |