Mcv Associated Physicians
- Assets
- $296.9m
- Revenue
- $540.0m
- Investments
- $100.4m
- Employees
- 2,416
- Location
- Richmond, VA
- Founding
- 06/1991
- Data as of
- 06/2021
- EIN
- 54-1581185
Organization Overview
Mcv Associated Physicians, operating under the name Mcv Physicians, is located in Richmond, VA. The organization was established in 1991. 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 06/2021, Mcv Physicians employed 2,416 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcv Physicians 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 06/2021, Mcv Physicians generated $540.0m 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 $600.6m during the year ending 06/2021. While expenses have increased by 8.9% 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
SUPPORTING THE HEALTHCARE NEEDS OF THE COMMUNITY & THE MISSION OF THE VCU SCHOOL OF MEDICINE.
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Cameron MD Physician | 55 | $1,086,141 | |
Jesse Torbert MD Physician | 60 | $915,594 | |
Alex B Valadka MD Physician | 66 | $910,814 | |
Kenneth Ellenbogen MD Physician | 55 | $910,211 | |
Chandra Bhati MD Physician | 77 | $877,141 | |
Vigneshwar Kasirajan MD Dept. Chair | Officer | 42 | $813,271 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Virtual Radiologic Corporation Radiology Services | 6/29/21 | $1,218,886 |
Healthcare Construction Management Construction Services | 6/29/21 | $436,402 |
Virginia Commonwealth University Physician Services | 6/29/21 | $40,546,202 |
Hayes Locums Llc Physician Staffing Services | 6/29/21 | $874,636 |
Scribe America Llc Escribe Services | 6/29/21 | $580,046 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $43,839,996 |
| Government grants | $1,772,017 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,904,183 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,516,196 |
| Total Program Service Revenue | $488,440,803 |
| Investment income | $894,456 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $22,459 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $816,644 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $539,983,630 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,038,985 |
| 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 | $398,801,831 |
| Pension plan accruals and contributions | $29,780,165 |
| Other employee benefits | $19,258,835 |
| Payroll taxes | $17,060,866 |
| Fees for services: Management | $2,699,847 |
| Fees for services: Legal | $809,412 |
| Fees for services: Accounting | $8,288 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $275,708 |
| Fees for services: Other | $4,303,511 |
| Advertising and promotion | $58,290 |
| Office expenses | $4,421,202 |
| Information technology | $468,177 |
| Royalties | $0 |
| Occupancy | $4,520,379 |
| Travel | $245,539 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,543,416 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,167,916 |
| Insurance | $3,812,161 |
| All other expenses | $2,674,802 |
| Total functional expenses | $600,621,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,230 |
| Savings and temporary cash investments | $57,928,617 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,281,879 |
| 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 | $1,104,582 |
| Net Land, buildings, and equipment | $7,668,925 |
| Investments—publicly traded securities | $18,149,849 |
| Investments—other securities | $100,424,570 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,357,633 |
| Total assets | $296,921,285 |
| Accounts payable and accrued expenses | $50,903,607 |
| 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 | $155,922,181 |
| Total liabilities | $206,825,788 |
| Net assets without donor restrictions | $90,095,497 |
| 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 | $296,921,285 |
Grants Awarded
Over the last fiscal year, Mcv Associated Physicians has awarded $7,696,891 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VCU SCHOOL OF MEDICINE PURPOSE: To support academic mission | $7,611,891 |
Richmond, VA PURPOSE: To support mission | $85,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mcv Associated Physicians has recieved totaling $9,167.
| Awarding Organization | Amount |
|---|---|
Muscular Dystrophy Association Chicago, IL PURPOSE: MEDICAL DIAGNOSIS | $9,167 |
Endowment Analysis
| Beg. Balance | $35,356,889 |
| Earnings | $5,868,162 |
| Net Contributions | $20,153,127 |
| Other Expense | $12,414,111 |
| Ending Balance | $48,964,067 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baptist Health Medical Group Inc Louisville, KY | $171,626,728 | $559,689,949 |
Dialysis Clinic Inc Nashville, TN | $782,995,317 | $765,633,140 |
Community Medical Associates Inc Louisville, KY | $72,616,390 | $515,224,331 |
Mcv Associated Physicians Richmond, VA | $296,921,285 | $539,983,630 |
Medical Faculty Associates Inc Washington, DC | $180,530,229 | $427,789,125 |
University Of Louisville Physicians Inc Louisville, KY | $142,554,326 | $292,132,120 |
Duke University Affiliated Physicans Inc Durham, NC | $86,448,101 | $171,120,861 |
Physician Enterprise Llc Annapolis, MD | $46,488,758 | $178,945,425 |
Wellmont Medical Associates Inc Johnson City, TN | $20,115,154 | $123,355,433 |
Moses Cone Physician Services Inc Greensboro, NC | $50,601,187 | $84,107,412 |
Ut Le Bonheur Pediatric Specialists Inc Memphis, TN | $10,488,131 | $58,933,754 |
Pediatric Physicians Services Inc Baltimore, MD | $9,051,384 | $104,702,808 |