Heart Center Of Metrowest P C
- Assets
- $2.9m
- Revenue
- $11.0m
- Investments
- $0.0
- Employees
- 58
- Location
- Framingham, MA
- Founding
- 05/2009
- Data as of
- 09/2021
- EIN
- 03-0390670
Organization Overview
Heart Center Of Metrowest P C is located in Framingham, MA. The organization was established in 2009. 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 09/2023, Heart Center Of Metrowest P C employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heart Center Of Metrowest P C 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 09/2021, Heart Center Of Metrowest P C generated $11.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $11.4m during the year ending 09/2021. While expenses have increased by 3.1% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING CARDOIOVASCULAR CARE AND HEALTH.
Describe the Organization's Program Activity:
CLINICAL SERVICES: HCMW PHYSICIANS PROVIDE COMPREHENSIVE CARDIOLOGY CONSULTATIVE SERVICES FOR ALL MANNER OF CARDIAC CONDITIONS, INCLUDING PRE-SURGICAL EVALUATION, SECOND OPINION CONSULTATIONS AND ONGOING FOLLOW-UP FOR EXISTING PATIENTS IN THE METROWEST BOSTON AREA, WITHOUT REGARD TO ABILITY TO PAY. DURING THE PERIOD COVERED BY THIS FILING, HCMW HAD 65,005 CLINICAL ENCOUNTERS PROVIDING THE FOLLOWING SERVICES: CARDIOLOGY CONSULTATION FOR OUT PATIENTS AND IN PATIENTS, CARDIAC CATH LAB, CARDIAC REHAB SERVICES; ELECTROPHSIOLOGY SERVICES, WOMEN'S CARDIOVASCULAR CLINIC, ECHOCARDIOGRAPHY, STRESS TESTING, NUCLEAR IMAGING, STRESS ECHOCARDIOGRAPHY, PACEMAKER AND DEFIBILLATOR CLINIC ANTICOAGULATION CLINIC AND CHOLESTEROL CLINIC. FOR THE PERIOD ENDED 09/30/2021, HCMW RECORED $279,273 OF UNCOMPENSATED CARE.
MEDICAL EDUCATION: CARDIOLOGISTS FROM HCMW ENGAGED IN VARIOUS TYPES OF TEACHING AND TRAINING ON A REGULAR BASIS. AS PART OF THESE ACTIVITIES, DURING THE FISCAL PERIOD COVERED BY THIS RETURN, HCMW CARDIOLOGISTS DEVOTED SIGNFICANT TIME TO CARDIAC CARE UNIT ROUNDS AND CARDIOLOGY GRAND ROUNDS AS WELL AS PROVIDING CLASSROOM INSTRUCTION AND LECTURES. THE HEART CENTER INCURRED EXPENSES AMOUNTING TO $183,831, ON MEDICAL EDUCATION AND RECEIVED REVENUES OF $208,950 DURING THIS PERIOD.
COMMUNITY EDUCATION AND OUTREACH: CARDIOLOGISTS FROM HCMW ENGAGE IN VARIOUS TYPES OF TEACHING AND TRAINING ON A REGULAR BASIS. EACH YEAR HCMW COORDINATES A CARDIOLOGY LECTURE SERIES WITH OTHER INSTITUTIONS TO PROVIDE INFORMATION TO THE COMMUNITY ON A VARIETY OF CARDIAC ISSUES. FOR THE PERIOD COVERED BY THIS FILING, HCMW PHYSICIANS PARTICIPATED IN A COMMUNITY LECTURE SERIES WHERE A BLOOD PLESSURE AND CHOLESTEROL SCREENING WAS PROVIDED. HCMW ALSO HOLDS AN IMPLANTABLE CARDIOVERTER DEFIBILLATOR (ICD) SUPPORT GROUP AT LEAST TWICE PER YEAR FOR PATIENTS WHO HAVE ICD IMPLANTS. DURING THE MONTH OF FEBRUARY, (WOMAN & HEART DISEASE AWARENESS MONTH), THE HCMW PHYSICIANS AND STAFF WORK TOGETHER, PARTNERING WITH THE YMCA, TO INCREASE COMMUNITY AWARENESS OF HEART DISEASE ISSUES. THE EXPENSES FOR COMMUNITY EDUCATION AND OUTREACH ARE MINIMAL AND NOT ALLOCABLE. HOWEVER THE DOCTORS DONATE THEIR TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Alderman Physician/trustee (until 6/30/21) | Trustee | 1 | $0 |
Harvey Goldfine Physician/trustee (until 6/30/21) | Trustee | 1 | $0 |
David Young Physician/trustee (until 6/30/21) | Trustee | 1 | $0 |
Eric Davidson Physician/trustee (until 6/30/21) | Trustee | 1 | $0 |
Christopher Gange Physician/trustee (until 6/30/21) | Trustee | 1 | $0 |
Elizabeth Ascher Physician/trustee (until 6/30/21) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cardiovascular Center At Tufts Medical C Medical Services | 9/29/21 | $5,175,088 |
Navix Diagnositix Inc Medical Services | 9/29/21 | $204,235 |
Seamless It Computer Services | 9/29/21 | $103,929 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $554,049 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,000 |
| 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 | $11,040,564 |
| 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 | $8,542,796 |
| Pension plan accruals and contributions | $148,245 |
| Other employee benefits | $421,823 |
| Payroll taxes | $152,300 |
| 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 | $398 |
| Office expenses | $997,184 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $347,816 |
| 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 | $48,392 |
| Insurance | $125,413 |
| All other expenses | $0 |
| Total functional expenses | $11,407,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $805,593 |
| Savings and temporary cash investments | $654,415 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,202,772 |
| 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 | $29,708 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,897,230 |
| Accounts payable and accrued expenses | $893,155 |
| 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 | $946,815 |
| Total liabilities | $1,839,970 |
| Net assets without donor restrictions | $1,057,260 |
| 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 | $1,057,260 |