Prisma Health-University Medical Group

The information for Prisma Health-University Medical Group is as of the organization's most recent filing in September '21. This organization is located in Greenville, SC. It has been in existence for 23 years, following its founding in 1998.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

Prisma Health-University Medical Group is a health care organization classified with the NTEE code E31. The "E" indicates that the organization falls under the category of Health Care, specifically Group Health Practices. This classification encompasses organizations that provide health care services and underwrite health and medical insurance. It also includes medical groups associated with teaching, research, and public hospitals. Prisma Health-University Medical Group operates under the C Section Code 3, which encompasses Religious, Educational, Charitable, Scientific, Literary, Testing for Public Safety, to Foster National or International Amateur Sports Competition, or Prevention of Cruelty to Children or Animals Organizations. Their mission is to inspire health, serve with compassion, and be the difference.

Program Areas

Prisma Health-University Medical Group (UMG) is a medical group that operates medical offices and specializes in various areas such as physical medicine and rehabilitation, sports medicine, obstetrics/gynecology, infectious disease, internal medicine, general surgery, diagnostic radiology, family practice, cardiovascular disease (cardiology), ophthalmology, and more. Within the general fund, UMG reports all revenues, support, and functional expenses that are not specifically reported by another fund or program. The medical group covers a wide range of medical taxonomies including pediatric orthopedic surgery, registered nurse, gynecology, clinical child & adolescent, orthopedic trauma, clinical cardiac electrophysiology, clinical nuclear radiology, psychoanalysis, and many more.

Organization Staffing

Prisma Health-University Medical Group has a large labor force with 4968 employees, 1525 of whom were paid over $100k according to the organization's most recent 990 tax filing. The organization does not rely on volunteers for support.

Board Governance

Prisma Health-University Medical Group appears to be well-governed based on the information provided. The organization has a small board with five voting members, which allows for efficient decision-making and effective oversight. While there are no independent members on the board, the absence of potential conflicts of interest indicates that the current board members are able to make impartial decisions in the best interest of the organization. The fact that board meetings and committee meetings are documented suggests a commitment to transparency and accountability. This documentation allows for the tracking of discussions, decisions, and actions taken during these meetings, ensuring that they are conducted in a systematic and organized manner. The organization's conflict of interest policy, along with the requirement for disclosure of conflicts, demonstrates a proactive approach to managing potential conflicts of interest among board members and staff. This policy helps to ensure that decisions are made in the best interest of the organization and its beneficiaries. Furthermore, Prisma Health-University Medical Group has implemented several important policies, such as a whistleblower policy and a document retention policy. These policies promote a culture of ethical behavior, transparency, and accountability within the organization. The organization's commitment to substantiating and reviewing leadership and officer salaries indicates a dedication to fair compensation practices and responsible financial management. Additionally, providing copies of the 990 to the board prior to filing demonstrates a commitment to transparency and keeping the board informed about the organization's financial activities. Overall, based on the information provided, Prisma Health-University Medical Group appears to have a well-governed structure and practices that prioritize transparency, accountability, and ethical decision-making.

Organization Growth

Prisma Health-University Medical Group, a nonprofit organization, has experienced significant growth over the given time period. Contributions & Grants Received increased from $2.7 million in 2016 to $24.9 million in 2020. Program Service Revenue also saw an increase from $486.4 million in 2016 to $632.8 million in 2020. Investment Income grew from $100.5 thousand in 2016 to $214.6 thousand in 2020. Although Other Revenue decreased from $37.7 thousand in 2016 to $16.0 thousand in 2020, the overall Total Revenue increased from $489.3 million in 2016 to $658.0 million in 2020. Additionally, Employee Salaries increased from $536.4 million in 2016 to $700.3 million in 2020. Total Expenses also showed growth, rising from $630.4 million in 2016 to $940.0 million in 2020. Furthermore, the organization expanded its workforce, with Total Employees increasing from 4.3 thousand in 2016 to 5.0 thousand in 2020. Overall, Prisma Health-University Medical Group has experienced substantial growth across various financial and operational aspects during the given time period.