Penobscot Bay Physicians & Assoc
- Assets
- $0.0
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Belfast, ME
- Founding
- 09/2004
- Data as of
- 03/2020
- EIN
- 01-0530517
Organization Overview
Penobscot Bay Physicians & Assoc is located in Belfast, ME. The organization was established in 2004. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. Penobscot Bay Physicians & Assoc 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 03/2020, Penobscot Bay Physicians & Assoc generated $9.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $9.9m during the year ending 03/2020. As we would expect to see with falling revenues, expenses have declined by (11.0%) per year over the past 5 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE PRIMARY AND SPECIALTY PHYSICIAN SERVICES TO PENOBSCOT BAY MEDICAL CENTER DBA MAINEHEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PENOBSCOT BAY PHYSICIANS AND ASSOCIATES (PBPA) IS A SUPPORTING ORGANIZATION OPERATING FOR THE EXCLUSIVE BENEFIT OF PENOBSCOT BAY MEDICAL CENTER(PBMC)DBA MAINEHEALTH. PBPA CONDUCTS BUSINESS IN SUPPORT OF THE CORPORATION IN THREE OVERLAPPING WAYS; (1) BY PROVIDING PRIMARY AND SPECIALTY PHYSICIAN AND OTHER HEALTH CARE SERVICES DIRECTLY TO MEMBERS OF THE COMMUNITY IN THE HOSPITAL SERVICE AREA OF PBMC, THAT IS, KNOX COUNTY, MAINE AND THE SURROUNDING AREAS; (2) BY SERVING AS A PART OF AN INTEGRATED DELIVERY SYSTEM THEREBY CREATING A COORDINATED, EFFICIENT, AND COMPREHENSIVE SERVICE MECHANISM TO PROMOTE MEDICAL AND HEALTH CARE DELIVERY TO THE COMMUNITY IN THE HOSPITAL SERVICE AREA; (CONTINUED AT SCHEDULE O) (CONTINUED FROM PART III, LINE 4A) AND (3) BY PROVIDING A MECHANISM FOR PBMC DBA MAINEHEALTH TO RECRUIT PHYSICIANS IN UNDERSERVED MEDICAL SPECIALTIES WHEN NEEDED. IT PROVIDES MEDICAL SERVICES WITHOUT REGARD TO THE PATIENT'S ABILITY TO PAY AND ACCEPTS REIMBURSEMENT FROM MEDICARE, MEDICAID AND THIRD PARTY PAYORS.PBPA DISSOLVED ON MARCH 11, 2020.
PENOBSCOT BAY PHYSICIANS AND ASSOCIATES (PBPA) IS A SUPPORTING ORGANIZATION OPERATING FOR THE EXCLUSIVE BENEFIT OF PENOBSCOT BAY MEDICAL CENTER(PBMC)DBA MAINEHEALTH. PBPA CONDUCTS BUSINESS IN SUPPORT OF THE CORPORATION IN THREE OVERLAPPING WAYS; (1) BY PROVIDING PRIMARY AND SPECIALTY PHYSICIAN AND OTHER HEALTH CARE SERVICES DIRECTLY TO MEMBERS OF THE COMMUNITY IN THE HOSPITAL SERVICE AREA OF PBMC, THAT IS, KNOX COUNTY, MAINE AND THE SURROUNDING AREAS; (2) BY SERVING AS A PART OF AN INTEGRATED DELIVERY SYSTEM THEREBY CREATING A COORDINATED, EFFICIENT, AND COMPREHENSIVE SERVICE MECHANISM TO PROMOTE MEDICAL AND HEALTH CARE DELIVERY TO THE COMMUNITY IN THE HOSPITAL SERVICE AREA; (CONTINUED AT SCHEDULE O) (CONTINUED FROM PART III, LINE 4A) AND (3) BY PROVIDING A MECHANISM FOR PBMC DBA MAINEHEALTH TO RECRUIT PHYSICIANS IN UNDERSERVED MEDICAL SPECIALTIES WHEN NEEDED. IT PROVIDES MEDICAL SERVICES WITHOUT REGARD TO THE PATIENT'S ABILITY TO PAY AND ACCEPTS REIMBURSEMENT FROM MEDICARE, MEDICAID AND THIRD PARTY PAYORS.PBPA DISSOLVED ON MARCH 11, 2020.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Scordino MD Physician | 50 | $928,019 | |
Kirk Bernadino MD Physician | 50 | $775,532 | |
Lars Ellison MD Trustee | Trustee | 50 | $559,531 |
Jeffrey Rasmussen MD Physician | 50 | $545,375 | |
Julie White MD Physician | 50 | $489,647 | |
Thomas Crosslin III MD Physician | 50 | $441,143 |
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 | $9,876,122 |
| Investment income | $0 |
| 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 | $9,876,122 |
| 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. | $261,708 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,177,043 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $437,371 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,876,122 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penobscot Bay Physicians & Assoc Belfast, ME | $0 | $9,876,122 |
Eastern Maine Healthcare Systems NB Norumbega Medical Specialists LTD NB Brewer, ME | $0 | $1,238,888 |
Wakefield Food Pantry Sanbornville, NH | $498,504 | $0 |
Consumers For Affordable Health Care Augusta, ME | $7,040 | $0 |
Bio-Medical Institute Skowhegan, ME | $73,764 | $3,401 |