Lown Cardiovascular Group Inc
- Assets
- $2.9m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 21
- Location
- Chestnut Hill, MA
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 04-2539723
Organization Overview
Lown Cardiovascular Group Inc is located in Chestnut Hill, MA. The organization was established in 2014. 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 12/2022, Lown Cardiovascular Group Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lown Cardiovascular Group 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 12/2022, Lown Cardiovascular Group Inc generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $3.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRIMARY MISSION IS THE UNDERSTANDING AND TREATMENT OF CARDIOVASCULAR DISEASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATIENT CARE: THE ORGANIZATION PROVIDED WORLD CLASS PATIENT CARE SERVICES IN THE FORM OF OVER 4,100 PATIENT ENCOUNTERS/TREATMENTS TO MORE THAN 1,500 PATIENTS DURING 2022.
EDUCATION: THE ORGANIZATION'S PHYSICIANS PROVIDED OVER 200 HOURS OF DIRECT TRAINING TO MEDICAL STUDENTS FROM THE HARVARD MEDICAL SCHOOL DURING 2022. THIS TRAINING OCCURRED AT THE ORGANIZATION'S FACILITY AND INVOLVED THE TREATMENT OF PATIENTS, ALL FOLLOW UP AND DOCUMENTATION OF PATIENT RELATED PERTINENT INFORMATION. THE ORGANIZATION IS NOT COMPENSATED FOR THESE SERVICES/ACTIVITIES. NONE OF THE PHYSICIAN COSTS (COMPENSATION, ETC.) HAVE BEEN ALLOCATED TO THIS PROGRAM SERVICE DURING 2022. ADDITIONALLY, THE PHYSICIANS PROVIDED MORE THAN 200 HOURS AT THE BRIGHAM & WOMENS HOSPITAL IN DIRECT TRAINING OF STAFF RESIDENTS DURING 2022.
RESEARCH: THE MAJOR RESEARCH INITIATIVES DURING 2022 CONSISTED OF 1) THE CONTINUED DEVELOPMENT OF THE SPORTS AND FITNESS CARDIOLOGY PROGRAM AND 2) THE CONTINUATION OF A NEW RESEARCH INITIATIVE FOCUSING ON WOMENS CARDIOLGY ISSUES AND HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Z Bilchik MD President & | OfficerTrustee | 40 | $230,794 |
Charles Blatt MD Clerk | OfficerTrustee | 40 | $184,564 |
Shmuel Ravid MD Trustee | Trustee | 40 | $182,256 |
Dara Lee Lewis MD Trustee | Trustee | 40 | $147,600 |
Alyson Kelley-Hedgepeth MD Trustee | Trustee | 40 | $217,060 |
Jason Ward Trustee | Trustee | 1 | $0 |
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 | $189,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $189,000 |
| Total Program Service Revenue | $2,744,194 |
| 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 | $2,933,194 |
| 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. | $962,274 |
| Compensation of current officers, directors, key employees. | $96,227 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $722,041 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $248,391 |
| Payroll taxes | $128,180 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,039 |
| Fees for services: Accounting | $52,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,819 |
| Office expenses | $59,507 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $342,524 |
| Travel | $4,043 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,148 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,728 |
| Insurance | $57,695 |
| All other expenses | $119,367 |
| Total functional expenses | $3,072,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,669,101 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $155,059 |
| 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 | $11,584 |
| Net Land, buildings, and equipment | $267,806 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $263,614 |
| Other assets | $576,055 |
| Total assets | $2,943,219 |
| Accounts payable and accrued expenses | $106,734 |
| 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 | $149,359 |
| Other liabilities | $718,119 |
| Total liabilities | $974,212 |
| Net assets without donor restrictions | $1,749,564 |
| Net assets with donor restrictions | $219,443 |
| 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 | $2,943,219 |