Circle Health Physicians Inc
- Assets
- $24.7m
- Revenue
- $78.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 05/2011
- Data as of
- 09/2021
- EIN
- 27-3902914
Organization Overview
Circle Health Physicians Inc is located in Lowell, MA. The organization was established in 2011. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Circle Health Physicians 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, Circle Health Physicians Inc generated $78.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $83.9m during the year ending 09/2021. While expenses have increased by 10.8% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION SHALL BE OPERATED EXCLUSIVELY FOR THE CHARITABLE PURPOSE OF BENEFITING, SUPPORTING AND FURTHERING THE CHARITABLE ACTIVITIES OF LOWELL GENERAL HOSPITAL AND ORGANIZATIONS AFFILIATED WITH THE HOSPITAL.
Describe the Organization's Program Activity:
LGH MVC ASSOCIATES IS COMPRISED OF ELEVEN PHYSICIANS THAT PRACTICE CLINICAL CARDIOLOGY. MOST PHYSICIANS SPECIALIZE IN AREAS SUCH AS INTERVENTIONAL CARDIOLOGY, ELECTROPHYSIOLOGY, IMAGING TECHNIQUES SUCH AS NUCLEAR CARDIOLOGY, ECHO OR CT ANGIOGRAPHY IN ADDITION TO SPECIFIC ISSUES SUCH AS CORONARY DISEASE, CHOLESTEROL DISORDERS AND HEART FAILURE.
LGH MEDICAL GROUP IS A GROUP OF PHYSICIAN PRACTICES WITH MERRIMACK FAMILY MEDICINE BEING THE LARGEST WITHIN THIS GROUP. MERRIMACK FAMILY MEDICINE IS AN INTEGRATED FAMILY PRACTICE WITH FIVE PHYSICIANS, THREE NURSE PRACTITIONERS, AND TWO PHYSICIAN ASSISTANTS OFFERING COMPREHENSIVE PRIMARY MEDICAL CARE, HEALTH SERVICES, AND INFORMATION TO ALL PATIENTS. OUR SERVICES INCLUDE GYNECOLOGY, OBSTETRICS, PEDIATRICS, AND ADULT MEDICINE.
CIRCLE HEALTH URGENT CARE FACILITIES ARE LOCATED IN BILLERICA, DRACUT, TEWKSBURY AND WESTFORD MASSACHUSETTS. CIRCLE HEALTH'S URGENT CARE CENTERS PROVIDE WALK-IN, URGENT CARE FOR NON-LIFE THREATENING CONDITIONS AND OTHER AILMENTS THAT REQUIRE PROMPT MEDICAL ATTENTION. THEY OFFER OCCUPATIONAL MEDICINE SERVICES AND TRAVEL MEDICINE FOR THOSE TRAVELING ABROAD. UNLIKE MANY OTHER URGENT CARE CLINICS, OUR URGENT CARE CENTERS ARE STAFFED WITH EXPERIENCED URGENT CARE PHYSICIANS FROM MERRIMACK VALLEY EMERGENCY ASSOCIATES WHO ARE AVAILABLE ONSITE DURING OPERATING HOURS. ALL LOCATIONS SERVE CHILDREN, ADOLESCENTS, ADULT AND OLDER ADULT PATIENTS WITH CONVENIENT, ACCESSIBLE CARE WITHOUT AN APPOINTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Bertos Physician | 50 | $975,022 | |
Louis Bresnick Physician | 50 | $974,956 | |
James Waters Physician | 50 | $803,681 | |
Kirk Macnaught Physician | 50 | $802,436 | |
Omar Ali Physician | 50 | $793,990 | |
Daniel Mansur ESQ Clerk (until 1-21)/board Member | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eclinical Works Llc Information Systems Provider | 9/29/21 | $197,758 |
Janitech Inc Janitorial Services | 9/29/21 | $191,056 |
Mdofficemanager Llc Management Service Provider | 9/29/21 | $175,014 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,238,799 |
| 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 | $3,238,799 |
| Total Program Service Revenue | $74,841,485 |
| Investment income | $1,789 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $78,082,073 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $42,888,402 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,889,055 |
| Payroll taxes | $2,091,641 |
| 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 | $7,296,302 |
| Advertising and promotion | $200 |
| Office expenses | $12,341,939 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,736,538 |
| Travel | $134 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $107,587 |
| Interest | $1,351 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $438,541 |
| Insurance | $910,962 |
| All other expenses | $0 |
| Total functional expenses | $83,922,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,063,495 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,045,601 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $528,889 |
| Prepaid expenses and deferred charges | $751,793 |
| Net Land, buildings, and equipment | $1,910,682 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,392,618 |
| Total assets | $24,693,078 |
| Accounts payable and accrued expenses | $8,083,220 |
| 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 | $3,037,198 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,402,116 |
| Total liabilities | $26,522,534 |
| Net assets without donor restrictions | -$1,829,456 |
| 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 | $24,693,078 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Umass Memorial Health Care Inc Worcester, MA | $1,470,153,319 | $457,890,056 |
Nuvance Health Poughkeepsie, NY | $156,429,143 | $195,017,437 |
Bmc Health System Boston, MA | $32,089,723 | $189,200,474 |
Amalgamated National Health Fund White Plains, NY | $95,902,147 | $172,209,851 |
Solutionhealth Bedford, NH | $61,075,440 | $136,993,038 |
Connecticut Childrens Specialty Group Inc Hartford, CT | $22,976,618 | $102,246,078 |
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 |