Faculty Practice Foundation Inc

Organization Overview

Faculty Practice Foundation Inc is located in Boston, MA. The organization was established in 1997. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2021, Faculty Practice Foundation Inc employed 1,789 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Faculty Practice Foundation 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 06/2021, Faculty Practice Foundation Inc generated $409.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $409.3m during the year ending 06/2021. While expenses have increased by 2.0% 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, Faculty Practice Foundation Inc has awarded 22 individual grants totaling $649,550. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SEE SCHEDULE O.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FACULTY PRACTICE PLANS ("THE PLANS") WERE ESTABLISHED AS NOT-FOR-PROFIT CORPORATIONS OPERATING EXCLUSIVELY FOR THE BENEFIT OF BOSTON MEDICAL CENTER AND BOSTON UNIVERSITY SCHOOL OF MEDICINE. THE PLANS' PURPOSE IS TO PROVIDE, COORDINATE AND FACILITATE THE DELIVERY OF PATIENT CARE SERVICES AND TO PROMOTE THE DEVELOPMENT OF AN INTEGRATED SYSTEM OF DELIVERY TO MORE EFFICIENTLY AND EFFECTIVELY MEET THE HEALTH CARE NEEDS OF THE COMMUNITIES SERVED BY THE INSTITUTIONS. THE PLANS PROVIDE AMBULATORY SERVICES RANGING FROM PRIMARY ADULT AND PEDIATRIC CARE TO ADVANCED SPECIALTY CARE; AFFILIATED PHYSICIANS ALSO STAFF THE LARGEST 24 HOUR LEVEL 1 TRAUMA CENTER IN NEW ENGLAND.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Bu Payroll Processing
Payroll Services
$1,033,947
Change Healthcare Llc
Billing Services
$3,894,061
Children's Hospital Of Boston
Physician Services
$985,178
Optum360 Llc
Billing Services
$600,512
Brigham & Womens
Physician Services
$552,200
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
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$0
Total Program Service Revenue$406,941,549
Investment income $2,855,694
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 $409,797,243

Grants Awarded

Over the last fiscal year, Faculty Practice Foundation Inc has awarded $21,250 in support to 2 organizations.

Grant RecipientAmount

ORTHOPAEDIC RESEARCH

PURPOSE: GENERAL SUPPORT

$11,250

BOSTON MEDICAL CENTER

Org PageRecipient Profile

Boston, MA

PURPOSE: GENERAL SUPPORT

$10,000
View Grant Profile

Peer Organizations

Organization NameAssets
Rockefeller Foundation
New York, NY
$704,223,491
Simons Foundation Inc
New York, NY
$129,477,470
Bloomberg Family Foundation Inc
New York, NY
$1,259,941,914
Faculty Practice Foundation Inc
Boston, MA
$409,797,243
Leona M & Harry B Helmsley Charitable Trust
New York, NY
$723,181,306
Jp Morgan Chase Foundation
New York, NY
$488,434,024
Doris Duke Charitable Foundation Inc
New York, NY
$296,413,800
Zoom Foundation
Greenwich, CT
$176,914,821
Fidelity Foundation
Boston, MA
$803,389,715
Klarman Family Foundation
Boston, MA
$145,872,662
Druckenmiller Foundation
New York, NY
$402,828,458
Rockefeller Brothers Fund Inc
New York, NY
$94,665,303

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