C H M C Anesthesia Foundation Inc
- Assets
- $242.1m
- Revenue
- $156.6m
- Investments
- $19.0m
- Employees
- 160
- Location
- Boston, MA
- Founding
- 12/1981
- Data as of
- 09/2021
- EIN
- 04-2702169
Organization Overview
C H M C Anesthesia Foundation Inc is located in Boston, MA. The organization was established in 1981. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 09/2021, C H M C Anesthesia Foundation Inc employed 160 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. C H M C Anesthesia 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 09/2021, C H M C Anesthesia Foundation Inc generated $156.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $132.8m during the year ending 09/2021. While expenses have increased by 7.3% 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 2018, C H M C Anesthesia Foundation Inc has awarded 20 individual grants totaling $3,554,364. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION PROVIDES MEDICAL RESEARCH AND EDUCATIONAL SERVICES TO BOSTON (SEE SCHEDULE O) CHILDREN'S HOSPITAL AND HARVARD MEDICAL SCHOOL. THE FOUNDATION ALSO PROVIDES CARE FOR PATIENTS IN MASSACHUSETTS REGARDLESS OF THEIR ABILITY TO PAY, AS WELL AS PROVIDING AND SUPPORTING HOSPITAL AND COMMUNITY BASED SERVICES THAT ARE EITHER UNAVAILABLE OR LIMITED ELSEWHERE IN THE COMMUNITY.
Describe the Organization's Program Activity:
THE CHMC ANESTHESIA FOUNDATION, INC. (THE FOUNDATION) PROVIDES ANESTHESIA AND INTENSIVE CARE SERVICES TO THE PATIENTS OF BOSTON CHILDREN'S HOSPITAL AND AT SATELLITE LOCATIONS. THE FOUNDATION MAY CHARGE FOR PATIENT CARE AND OTHER MEDICAL SERVICES, WHERE ANY NET INCOME GENERATED IS USED EXCLUSIVELY FOR THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES FOR WHICH THE FOUNDATION WAS CREATED. THE FOUNDATION ALSO PROVIDES CARE FOR PATIENTS IN NEED OF ANESTHESIA AND INTENSIVE CARE SERVICES, REGARDLESS OF THEIR ABILITY TO PAY, AS WELL AS PROVIDING AND SUPPORTING HOSPITAL AND COMMUNITY BASED SERVICES THAT ARE EITHER UNAVAILABLE OR LIMITED ELSEWHERE IN THE COMMUNITY.
THE FOUNDATION RECEIVES INCOME FROM BOSTON CHILDREN'S HOSPITAL (THE HOSPITAL) FOR PROVIDING ADMINISTRATION, SUPERVISION, AND TEACHING SERVICES. THE PHYSICIANS EMPLOYED BY THE FOUNDATION PERFORM MEDICAL RESEARCH AND TEACHING ACTIVITIES, GIVE LECTURES, PUBLISH RELATED EDUCATIONAL ARTICLES, AND PIONEER MANY DEVELOPMENTS IN THE FIELD. ALL OF THESE ACTIVITIES PLAY A CRITICAL ROLE IN THE TREATMENT AND RECOVERY OF PATIENTS AT THE HOSPITAL AND MAKES POSSIBLE THE SURGICAL ADVANCES FOR WHICH THE HOSPITAL IS RENOWNED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul R Hickey MD Former Officer | 60 | $1,041,250 | |
James A Dinardo MD Director | Trustee | 59 | $930,240 |
Joseph P Cravero MD President/treasurer | OfficerTrustee | 54 | $921,874 |
Jeffrey Burns MD Director | OfficerTrustee | 59 | $828,588 |
Pete Kovatsis MD Physician | 60 | $742,347 | |
David Waisel MD Physician | 60 | $714,520 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Wagner Law Group Legal Services | 9/29/21 | $419,534 |
Bny Mellon Investment Advisor | 9/29/21 | $194,730 |
3edge Asset Management Investment Advisor | 9/29/21 | $715,399 |
Sarah Zack Hewitt Crna Services | 9/29/21 | $135,111 |
William Clarke Physician Services | 9/29/21 | $125,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $335,000 |
| Government grants | $11,565,967 |
| 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 | $11,900,967 |
| Total Program Service Revenue | $119,477,701 |
| Investment income | $2,188,414 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,625,738 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $156,600,655 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,135,007 |
| 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. | $10,877,557 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,826,731 |
| Pension plan accruals and contributions | $21,426,097 |
| Other employee benefits | $22,232,007 |
| Payroll taxes | $2,311,728 |
| Fees for services: Management | $203,284 |
| Fees for services: Legal | $249,534 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $943,118 |
| Fees for services: Other | $1,496,361 |
| Advertising and promotion | $0 |
| Office expenses | $805,431 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $231,569 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,442 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $190,018 |
| Insurance | $820,644 |
| All other expenses | $163,350 |
| Total functional expenses | $132,784,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,242 |
| Savings and temporary cash investments | $36,124,626 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,901,976 |
| Loans from Officers, Directors, or Controlling Persons | $800,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,173,868 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $329,462 |
| Net Land, buildings, and equipment | $462,063 |
| Investments—publicly traded securities | $148,218,404 |
| Investments—other securities | $18,966,626 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,635,765 |
| Total assets | $242,134,032 |
| Accounts payable and accrued expenses | $24,136,930 |
| Grants payable | $4,777,852 |
| Deferred revenue | $508,788 |
| 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 | $74,737,333 |
| Total liabilities | $104,160,903 |
| Net assets without donor restrictions | $137,660,311 |
| Net assets with donor restrictions | $312,818 |
| 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 | $242,134,032 |
Grants Awarded
Over the last fiscal year, C H M C Anesthesia Foundation Inc has awarded $1,094,107 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: General support | $1,079,107 |
New York, NY PURPOSE: General support | $10,000 |
Boston, MA PURPOSE: General support | $5,000 |
Endowment Analysis
| Beg. Balance | $178,818 |
| Net Contributions | $14,005,776 |
| Other Expense | $13,871,776 |
| Ending Balance | $312,818 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
C H M C Anesthesia Foundation Inc Boston, MA | $242,134,032 | $156,600,655 |
New York State Dental Association Albany, NY | $17,001,364 | $5,827,046 |
R I H Orthopaedic Foundation Inc Providence, RI | $8,806,507 | $8,596,679 |
Curepsp Inc New York, NY | $8,414,669 | $6,342,039 |
New York State Society Of Anesthesiologists Inc New York, NY | $5,784,530 | $3,237,027 |
American Healthcare Radiology Administrators Inc Marlborough, MA | $4,341,536 | $3,296,728 |
Diagnostic Imaging Foundation Warwick, RI | $10,449 | $1,617,000 |
New York County Dental Society New York, NY | $13,674,183 | $498,692 |
Canton-Potsdam Medical Practice Pllc Potsdam, NY | $521,293 | $682,687 |
New York State Podiatric Medical Association New York, NY | $2,710,070 | $1,412,989 |
New Hampshire Medical Society Concord, NH | $574,906 | $1,307,703 |
Connecticut State Medical Society Inc North Haven, CT | $1,803,405 | $1,201,082 |