Sturdy Memorial Associates Inc
- Assets
- $19.7m
- Revenue
- $68.1m
- Investments
- $0.0
- Employees
- 517
- Location
- Attleboro, MA
- Founding
- 10/1981
- Data as of
- 09/2021
- EIN
- 04-2709501
Organization Overview
Sturdy Memorial Associates Inc is located in Attleboro, MA. The organization was established in 1981. According to its NTEE Classification (E31) the organization is classified as: Group Health Practices, under the broad grouping of Health Care and related organizations. As of 09/2021, Sturdy Memorial Associates Inc employed 517 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sturdy Memorial Associates 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, Sturdy Memorial Associates Inc generated $68.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $69.3m during the year ending 09/2021. While expenses have increased by 7.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EXPAND AND IMPROVE THE AVAILABILITY OF QUALITY MEDICAL CARE IN THE SMH SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STURDY MEMORIAL ASSOCIATES, INC.'S PURPOSE IS TO RENDER MEDICAL SERVICES AND PROVIDE HEALTH EDUCATION TO THE COMMUNITY WITHIN THE STURDY MEMORIAL HOSPITAL SERVICE AREA. DURING FISCAL 2021, STURDY MEMORIAL ASSOCIATES, INC. OPERATED TWENTY GROUP PRACTICES AND TWO URGENT CARE CENTERS IN ATTLEBORO, NORTH ATTLEBORO, REHOBOTH-SEEKONK, NORTON, AND PLAINVILLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Statman MD Physician | 40 | $688,101 | |
Ralph Philosophe MD Physician | 40 | $681,306 | |
Raymond Petit MD Physician | 40 | $656,385 | |
James Snead MD Physician | 40 | $655,180 | |
Nithin Karanth MD Physician | 40 | $648,489 | |
Umar Shakur MD Director (as Of 07/2021) | Trustee | 41 | $450,699 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brown Urology Physician Contracted Services | 9/29/20 | $485,330 |
Rene Umanzor Physician Contracted Service | 9/29/20 | $117,810 |
Zym Inc Physician Contracted Services | 9/29/20 | $106,720 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $9,961,731 |
| Government grants | $4,931,951 |
| 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 | $14,893,682 |
| Total Program Service Revenue | $52,694,840 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $55,515 |
| Net Gain/Loss on Asset Sales | $5,600 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $68,098,558 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $413 |
| 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. | $1,295,682 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $238,543 |
| Other salaries and wages | $43,267,000 |
| Pension plan accruals and contributions | $1,534,784 |
| Other employee benefits | $4,925,448 |
| Payroll taxes | $2,547,323 |
| 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 | $766,498 |
| Advertising and promotion | $1,652 |
| Office expenses | $521,195 |
| Information technology | $2,779,006 |
| Royalties | $0 |
| Occupancy | $3,435,520 |
| Travel | $105 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $87,601 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $536,753 |
| Insurance | $1,150,515 |
| All other expenses | $579,418 |
| Total functional expenses | $69,343,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,970 |
| Savings and temporary cash investments | $1,004,232 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,695,125 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $329,687 |
| Prepaid expenses and deferred charges | $2,868,596 |
| Net Land, buildings, and equipment | $2,200,197 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,605,417 |
| Total assets | $19,705,224 |
| Accounts payable and accrued expenses | $4,981,362 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $72,909 |
| 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 | $8,501,525 |
| Total liabilities | $13,555,796 |
| Net assets without donor restrictions | $6,149,428 |
| 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 | $19,705,224 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Sturdy Memorial Associates Inc has recieved totaling $47,103.
| Awarding Organization | Amount |
|---|---|
Reach Out And Read Inc Boston, MA PURPOSE: ENCOURAGE READING | $9,021 |
Reach Out And Read Inc Boston, MA PURPOSE: ENCOURAGE READING | $9,021 |
Reach Out And Read Inc Boston, MA PURPOSE: ENCOURAGE READING | $9,021 |
Reach Out And Read Inc Boston, MA PURPOSE: ENCOURAGE READING | $6,680 |
Reach Out And Read Inc Boston, MA PURPOSE: ENCOURAGE READING | $6,680 |
Reach Out And Read Inc Boston, MA PURPOSE: ENCOURAGE READING | $6,680 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Department Of Medicine Medical Serv Grp At Suny Hlth Sci Ctr At Syr In Syracuse, NY | $34,959,788 | $114,730,981 |
Common Wealth Clinical Alliance Inc Boston, MA | $145,104,803 | $101,479,734 |
Brown Medicine Providence, RI | $89,415,313 | $97,515,476 |
Berkshire Faculty Services Inc Pittsfield, MA | $16,167,156 | $58,402,270 |
Sturdy Memorial Associates Inc Attleboro, MA | $19,705,224 | $68,098,558 |
Hallmark Health Medical Associates Inc Medford, MA | $10,734,913 | $53,080,416 |
Brown Emergency Medicine Providence, RI | $33,521,686 | $72,293,129 |
University Orthopaedic Services Inc Cheektowaga, NY | $19,231,150 | $67,345,608 |
Natchaug Hospital Inc Mansfield Center, CT | $22,707,935 | $46,468,531 |
Uphams Corner Health Committee Inc Dorchester, MA | $23,283,775 | $48,958,688 |
Faculty Practice Foundation Inc Boston, MA | $98,365,059 | $45,984,440 |
University Surgical Associates Inc Rumford, RI | $57,102,663 | $42,930,028 |