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 06/2022, Mcv Physicians employed 2,741 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 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $600.6m during the year ending 06/2021. While expenses have increased by 7.6% per year over the past 7 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
SUPPORTING THE HEALTHCARE NEEDS OF THE COMMUNITY & THE MISSION OF THE VCU SCHOOL OF MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MCV ASSOCIATED PHYSICIANS D/B/A MCV PHYSICIANS (MCVP) IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF VIRGINIA COMMONWEALTH UNIVERSITY (VCU), A TAX-EXEMPT ORGANIZATION AS DESCRIBED UNDER INTERNAL REVENUE CODE (IRC) SECTION 170(C)(1). ON JULY 1, 2000, MCVP BECAME PART OF THE VCU HEALTH SYSTEM ALONG WITH THE MCV HOSPITAL AUTHORITY. MCVP SERVES THE ONLY BURN CENTER AND FULL RANGE CANCER CENTER IN THE AREA. IN SUPPORT OF THE MEDICAL SCHOOL, MCVP PROVIDES ESSENTIAL SERVICES TO AND WORKS CLOSELY WITH THE VCU HEALTH SYSTEM - MCV HOSPITAL; A DIVISION OF MCV/VCU AND AFFILIATED AMBULATORY CARE CENTERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Name Not Listed Treas / Sec /coo | OfficerTrustee | 60 | $522,299 |
Name Not Listed President/chair | OfficerTrustee | 60 | $564,234 |
Name Not Listed Director | Trustee | 55 | $749,644 |
Name Not Listed Director | Trustee | 36 | $259,157 |
Name Not Listed Dir (jan-June) | Trustee | 30 | $601,965 |
Name Not Listed Director | Trustee | 40 | $418,368 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Virtual Radiologic Corp Radiology Services | 6/29/22 | $2,080,119 |
Press Ganey Inc Consulting Services | 6/29/22 | $901,781 |
Hayes Locums Llc Physician Staffing Services | 6/29/22 | $859,194 |
Virginia Commonwealth University Physician Service | 6/29/22 | $714,630 |
Ernst And Young Consulting Services | 6/29/22 | $257,625 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $49,516,196 |
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 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 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 | $0 |
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 |
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 | $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 | $90,095,497 |
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 |
MCV FOUNDATION PURPOSE: To support mission | $85,000 |