Mass General Brigham Incorporated
- Assets
- $348.1m
- Revenue
- $73.9m
- Investments
- $266.3m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 11/2010
- Data as of
- 09/2018
- EIN
- 04-2785453
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. 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 $73.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $25.5m during the year ending 09/2018. 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 FOUNDATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSE OF THE MASSACHUSETTS EYE AND EAR INFIRMARY ("THE INFIRMARY"), A TAX-EXEMPT MEDICAL AND SURGICAL HOSPITAL, WHICH PROVIDES PATIENT CARE, RESEARCH AND EDUCATION IN OPHTHALMOLOGY, OTOLARYNGOLOGY AND RELATED SPECIALTIES. THE FOUNDATION RAISES FUNDS, INVESTS FUNDS AND MAKES GRANTS TO THE INFIRMARY. EFFECTIVE APRIL 1, 2018, THE FOUNDATION BECAME PART OF THE COMPREHENSIVE, INTEGRATED HEALTHCARE SYSTEM ORGANIZATION AND OPERATED BY PARTNERS HEALTHCARE SYSTEM, INC, ("PARTNERS") THAT INCLUDES HOSPITALS, PHYSICIANS, CHARITABLE, SCIENTIFIC, EDUCATIONAL, RESEARCH AND OTHER PARTNERS AFFILIATED ORGANIZATIONS. AS PART OF THE SYSTEM THE FOUNDATION WILL ASSIST AND SUPPORT PARTNERS AND THE PARTNERS AFFILIATED ORGANIZATIONS IN FULFILLING THEIR MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harvey Freishtat Director/secretary As Of 4/18 | OfficerTrustee | 2 | $0 |
John R Fernandez President | OfficerTrustee | 10 | $0 |
Jonathan Uhrig Treasurer | OfficerTrustee | 3 | $0 |
Lyle Howland Secretary | OfficerTrustee | 2 | $0 |
Wycliffe Grousbeck Chair | OfficerTrustee | 3 | $0 |
Carolann Williams CFO & VP Finance And Admin | Officer | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates Investment Consltnt | 9/29/18 | $400,868 |
Edgewood Management Investment Mgmt | 9/29/18 | $147,160 |
The Silchester International Invest Investment Mgmt | 9/29/18 | $122,022 |
Bomin Communications Group Inc Video Production | 9/29/18 | $133,256 |
Kiltearn Global Equity Fund Investment Mgmt | 9/29/18 | $111,347 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,981,267 |
| Investment income | $2,266,689 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $54,407,955 |
| Net Income from Fundraising Events | -$354,136 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $73,914,360 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $114,032 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $690,928 |
| Fees for services: Other | $26 |
| Advertising and promotion | $0 |
| Office expenses | $1,962 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $82,763 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,709 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $255 |
| All other expenses | $0 |
| Total functional expenses | $25,473,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $167,569 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $9,776,639 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $266,266,383 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,862,600 |
| Total assets | $348,073,191 |
| Accounts payable and accrued expenses | $30,708 |
| 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 | $92,121,868 |
| Total liabilities | $92,152,576 |
| Net assets without donor restrictions | $109,255,562 |
| Net assets with donor restrictions | $67,476,661 |
| Capital stock or trust principal, or current funds | $79,188,392 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $255,920,615 |
Grants Awarded
Over the last fiscal year, Mass General Brigham Incorporated has awarded $23,096,468 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Boston, MA PURPOSE: TFR FOR SPECIFIC USES | $18,627,395 |
Boston, MA PURPOSE: TFR FOR SPECIFIC USES | $3,570,106 |
Boston, MA PURPOSE: TFR FOR SPECIFIC USES | $755,751 |
Cambridge, MA PURPOSE: SPEECH AND HEARING | $102,450 |
Boston, MA PURPOSE: CORNEA RESEARCH | $20,383 |
Boston, MA PURPOSE: CORNEA RESEARCH | $20,383 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Mass General Brigham Incorporated has recieved totaling $982,027.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: MEDICAL / PUBLIC SERVICES | $512,000 |
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $150,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $141,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $105,100 |
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, HEALTH | $25,500 |
The International Thyroid Cancer Study Group Inc Yorkville, NY PURPOSE: TO ASSIST WITH ADMINISTRATIVE COSTS | $25,000 |
Endowment Analysis
| Beg. Balance | $73,437,271 |
| Earnings | $24,134,233 |
| Admin Expense | $1,022,838 |
| Net Contributions | $3,101,773 |
| Other Expense | $3,675,186 |
| Ending Balance | $95,975,253 |
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 |