Hallmark Health Medical Associates Inc
- Assets
- $18.1m
- Revenue
- $55.1m
- Investments
- $0.0
- Employees
- 465
- Location
- Medford, MA
- Founding
- 06/1993
- Data as of
- 09/2023
- EIN
- 04-3140938
Organization Overview
Hallmark Health Medical Associates Inc is located in Medford, MA. The organization was established in 1993. 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 09/2023, Hallmark Health Medical Associates Inc employed 465 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hallmark Health Medical 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 09/2023, Hallmark Health Medical Associates Inc generated $55.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $64.9m during the year ending 09/2023. While expenses have increased by 6.6% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HALLMARK HEALTH MEDICAL ASSOCIATES, INC. SUPPORTS THE CHARITABLE MISSION OF MELROSEWAKEFIELD HEALTHCARE, INC. THROUGH THE EMPLOYMENT OF PRIMARY CARE PHYSICIANS AND SPECIALISTS AT PRACTICES THROUGHOUT THE MELROSEWAKEFIELD SERVICE AREA IN NINE LOCAL COMMUNITIES.
Describe the Organization's Program Activity:
THE PURPOSE OF HALLMARK HEALTH MEDICAL ASSOCIATES, INC. IS TO IMPROVE THE QUALITY AND ACCESS TO MEDICAL CARE PROVIDED BY MELROSEWAKEFIELD HEALTHCARE, INC. BY ENCOURAGING PHYSICIANS TO PROVIDE NEEDED MEDICAL SERVICES IN THE HOSPITAL'S SERVICE AREA AND BY OTHERWISE SUPPORTING THE NEEDS OF THE MEDICALLY UNDER-SERVED COMMUNITIES. HALLMARK HEALTH MEDICAL ASSOCATES' PROGRAM SERVICE REVENUE REPRESENTS NET FEES BILLED FOR PHYSICIAN SERVICES PROVIDED IN OBSTETRICS, GYNECOLOGY, INTERNAL MEDICINE, SURGERY, GASTROENTEROLOGY, FAMILY MEDICINE, ENDOCRINOLOGY, PULMONOLOGY, RADIATION ONCOLOGY, INFECTIOUS DISEASE, NEUROLOGY, AND NEUROSURGERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Corbi Director | Trustee | 3 | $0 |
Michael Newman MD President/director | OfficerTrustee | 20 | $0 |
Steven Sbardella Chair/director (until 1/23) | OfficerTrustee | 3 | $0 |
Eleanor Moresco MD Vice Chair/director | OfficerTrustee | 40 | $174,122 |
Patricia Sereno MD Physician/chair | OfficerTrustee | 40 | $321,495 |
William Wyman Treasurer/director | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zocdoc Inc Agency | 9/29/23 | $698,600 |
Scribe America Llc Scribes Services | 9/29/23 | $651,324 |
Complete Staffing Solution Inc Agency | 9/29/23 | $382,812 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $742,183 |
| Government grants | $5,583 |
| 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 | $747,766 |
| Total Program Service Revenue | $54,308,360 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,000 |
| 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 | $55,062,126 |
| 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. | $1,030,590 |
| Compensation of current officers, directors, key employees. | $1,030,590 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,482,685 |
| Pension plan accruals and contributions | $717,081 |
| Other employee benefits | $3,992,209 |
| Payroll taxes | $2,389,338 |
| 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 | $523,478 |
| Advertising and promotion | $0 |
| Office expenses | $767,626 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,429,556 |
| Travel | $29,556 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $58,149 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $448,219 |
| Insurance | $1,015,097 |
| All other expenses | $823,551 |
| Total functional expenses | $64,919,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,771,053 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,267,471 |
| 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 |
| Net Land, buildings, and equipment | $1,049,778 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,001,470 |
| Total assets | $18,089,772 |
| Accounts payable and accrued expenses | $8,974,254 |
| 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 | $7,284,639 |
| Total liabilities | $16,258,893 |
| Net assets without donor restrictions | $1,830,879 |
| 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 | $18,089,772 |