Mass General Brigham Incorporated
- Assets
- $81.6m
- Revenue
- $28.8m
- Investments
- $2.2m
- Employees
- 178
- Location
- Boston, MA
- Founding
- 11/2010
- Data as of
- 09/2018
- EIN
- 04-2129889
Organization Overview
Mass General Brigham Incorporated is located in Boston, MA. The organization was established in 2010. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 09/2018, Mass General Brigham Incorporated employed 178 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Mass General Brigham Incorporated 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 09/2018, Mass General Brigham Incorporated generated $28.8m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $28.9m during the year ending 09/2018. While expenses have increased by 4.0% per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE HAS RESEARCH AT EVERY STAGE OF DEVELOPMENT FROM THE CRITICAL NEW IDEAS THAT ARE CHANGING THE WAY RESEARCHERS AROUND THE WORLD LOOK AT THE FUTURE OF TREATMENT, TO PRODUCTS IN LATE-STAGE CLINICAL TRIALS, SET TO MAKE AN IMMEDIATE IMPACT ON THE LIVES OF PEOPLE STRUGGLING WITH VISION-ROBBING DISEASES AND INJURIES. THE INSTITUTE HAS MADE TREMENDOUS PROGRESS IN DEVELOPING NEW CURES FOR MACULAR DEGENERATION, DIABETIC RETINOPATHY, GLAUCOMA, OTHER TYPES OF RETINAL AND OPTIC NERVE DEGENERATIONS AND DAMAGE, DRY EYE AND EYE TISSUE TRANSPLANTS. THERE HAVE ALSO BEEN GREAT STRIDES MADE IN THE DEVELOPMENT OF NEW TECHNOLOGIES - NEW LENSES AND DEVICES - TO HELP THOSE WITH LOW VISION MAKE THE ABSOLUTE MOST OUT OF THE VISION THEY HAVE UNTIL WE CAN REVERSE VISION LOSS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kennett Burnes Chairman | OfficerTrustee | 4 | $0 |
John Fernandez President | OfficerTrustee | 4 | $0 |
Martha Pyle Farrell Assistant Secretary | Officer | 4 | $0 |
Lyle Howland Secretary | Officer | 4 | $0 |
Carolann Williams CFO And VP Finance & Admin | Officer | 4 | $0 |
Jonathan Uhrig Treasurer | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,393,495 |
| Investment income | $369,593 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $365,780 |
| Net Rental Income | $170,696 |
| Net Gain/Loss on Asset Sales | $3,663,379 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,772,720 |
| 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. | $410,856 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,999,146 |
| Pension plan accruals and contributions | $872,285 |
| Other employee benefits | $2,508,781 |
| Payroll taxes | $681,988 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,143 |
| Fees for services: Accounting | $33,282 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,532 |
| Fees for services: Other | $545,768 |
| Advertising and promotion | $24,904 |
| Office expenses | $4,069,225 |
| Information technology | $296,363 |
| Royalties | -$14,841 |
| Occupancy | $3,647,324 |
| Travel | $346,497 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $101,225 |
| Interest | $346,646 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,045,381 |
| Insurance | $77,829 |
| All other expenses | $0 |
| Total functional expenses | $28,869,943 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,659,887 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,986,003 |
| 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 | $18,183 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,187,605 |
| Investments—program-related | $0 |
| Intangible assets | $768,476 |
| Other assets | $50,270,918 |
| Total assets | $81,562,366 |
| Accounts payable and accrued expenses | $842,613 |
| Grants payable | $0 |
| Deferred revenue | $5,844,819 |
| 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 | $57,712,107 |
| Total liabilities | $64,399,539 |
| Net assets without donor restrictions | -$2,679,718 |
| Net assets with donor restrictions | $7,830,827 |
| Capital stock or trust principal, or current funds | $12,011,718 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $17,162,827 |
Grants Awarded
Over the last fiscal year, Mass General Brigham Incorporated has awarded $228,371 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
METIS FOUNDATION PURPOSE: RESEARCH | $67,893 |
Boston, MA PURPOSE: RESEARCH | $51,478 |
Lincoln, NE PURPOSE: RESEARCH | $49,795 |
Durham, NC PURPOSE: RESEARCH | $34,944 |
Somerville, MA PURPOSE: RESEARCH | $12,152 |
UNIVERSITY OF PITTSBURGH PURPOSE: RESEARCH | $12,109 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Mass General Brigham Incorporated has recieved totaling $121,562.
| Awarding Organization | Amount |
|---|---|
American Macular Degeneration Foundation Inc Northampton, MA | | $100,000 |
Fight For Sight Inc New York, NY PURPOSE: Eye and vision research | $11,250 |
Central New York Community Foundation Inc Syracuse, NY PURPOSE: GENERAL SUPPORT | $10,312 |
Endowment Analysis
| Beg. Balance | $14,705,511 |
| Earnings | $3,408,658 |
| Admin Expense | $43,310 |
| Other Expense | $903,733 |
| Ending Balance | $17,167,126 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cape Cod Healthcare Inc Hyannis, MA | $424,302,862 | $116,473,308 |
Archcare New York, NY | $38,938,250 | $96,013,711 |
Community Health Network Of Connecticut Inc Wallingford, CT | $47,159,954 | $74,626,520 |
Rpci Oncology Pc Buffalo, NY | $19,088,362 | $66,318,134 |
Mass General Brigham Incorporated Dover, NH | $7,857,187 | $29,893,981 |
Vna Care Network Inc Worcester, MA | $8,603,953 | $48,842,380 |
Columbiadoctors Newyork-Presbyterian Imaging New York, NY | $48,011,662 | $60,111,009 |
Western Connecticut Health Network Inc Danbury, CT | $607,496,068 | $32,480,212 |
Baystate Health Inc Springfield, MA | $239,302,322 | $40,124,462 |
Harrington Physician Services Inc Southbridge, MA | $5,550,764 | $24,087,781 |
Coastal Medical Physicians Inc Providence, RI | $21,618,026 | $34,586,509 |
Auburn Memorial Medical Services Pc Auburn, NY | $2,235,754 | $24,512,215 |