Northeast Medical Practice Inc
- Assets
- $17.1m
- Revenue
- $37.3m
- Investments
- $0.0
- Employees
- 292
- Location
- Beverly, MA
- Founding
- 12/1996
- Data as of
- 09/2021
- EIN
- 04-3201853
Organization Overview
Northeast Medical Practice Inc is located in Beverly, MA. The organization was established in 1996. 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 09/2023, Northeast Medical Practice Inc employed 292 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Medical Practice 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, Northeast Medical Practice Inc generated $37.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $53.1m during the year ending 09/2021. While expenses have increased by 6.5% per year over the past 7 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
NORTHEAST MEDICAL PRACTICE'S (NMP) PRIMARY MISSION IS TO PROVIDE HIGH QUALITY MEDICAL CARE TO THE PATIENTS OF NORTHEAST HOSPITAL CORPORATION (BEVERLY HOSPITAL, ADDISON GILBERT HOSPITAL AND BAYRIDGE HOSPITAL). NMP ACCOMPLISHES ITS MISSION IN CONJUNCTION WITH THE BETH ISRAEL LAHEY HEALTH (BILH) NETWORK OF AFFILIATES AS DESCRIBED FURTHER IN THIS FORM 990.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTHEAST MEDICAL PRACTICE (NMP) IS A NOT-FOR-PROFIT MEDICAL GROUP PRACTICE PROVIDING MEDICAL SERVICES TO PATIENTS OF NORTHEAST HOSPITAL CORP (BEVERLY HOSPITAL, ADDISON GILBERT HOSPITAL AND BAYRIDGE HOSPITAL) (NHC) AND IN THE HOSPITAL'S SERVICE AREAS. NMP PHYSICIANS AND ADVANCED PRACTITIONERS (APS) PROVIDE CARE IN THE COMMUNITY TO MEDICARE, MEDICAID AND ALL OTHER PATIENTS. NMP IS A GROUP OF 67 EMPLOYED PRIMARY AND SPECIALTY CARE PHYSICIANS AND 53 APS WHO WORK WITH AND SUPPORT THE NMP PHYSICIANS. NMP HAS PRIMARY CARE PHYSICIANS (PCPS) WHO SPECIALIZE IN BOTH INTERNAL MEDICINE AND FAMILY MEDICINE. PCPS ARE COMMUNITY BASED MEDICAL DOCTORS WHO GENERALLY PROVIDE THE FIRST CONTACT FOR A PATIENT WITH A NON-EMERGENT UNDIAGNOSED HEALTH CONCERN, AS WELL AS CONTINUING CARE FOR A VARIETY OF MEDICAL CONDITIONS, KEEPING CARE IN THE COMMUNITY WHEN IT IS APPROPRIATE. WHEN ADVANCED CARE IS NEEDED, NMP PATIENTS HAVE SEAMLESS ACCESS TO NMP SPECIALISTS PRACTICING IN THE DISCIPLINES OF GASTROENTEROLOGY, INFECTIOUS DISEASE, HEMATOLOGY/ONCOLOGY, CARDIOLOGY, GENERAL SURGERY, ENDOCRINOLOGY, OBSTETRICS AND GYNECOLOGY, PSYCHIATRY, NEPHROLOGY AND EMERGENCY SERVICES. NMP PATIENTS ALSO HAVE ACCESS TO CARE AT NORTHEAST HOSPITAL CORP (BEVERLY HOSPITAL, ADDISON GILBERT HOSPITAL AND BAYRIDGE HOSPITAL) (NHC) AND WHEN NEEDED, ACCESS TO CARE AT NHC'S SISTER ENTITIES LAHEY HOSPITAL & MEDICAL CENTER (LHMC) OR BETH ISRAEL DEACONESS MEDICAL CENTER (BIDMC), EACH A LEVEL I TRAUMA CENTER AND PROVIDING TERTIARY CARE AND CARE IN A WIDE RANGE OF SPECIALTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerndl John Ttee & Treas (ex-Off) (evp/cfo,bilh) | OfficerTrustee | 1 | $0 |
Rios Cindy Ttee, Treas (ex-Off) (int Cfo, Bilh) | OfficerTrustee | 1 | $0 |
Katz ESQ Jamie Trustee & Clerk (ex-Officio) | OfficerTrustee | 1 | $0 |
Sands Tom Trustee (ex-Officio) And President | OfficerTrustee | 1 | $0 |
Johnson MD Ms Facp Elizabeth Pres, Bilh Primary Care | Officer | 1 | $0 |
Reinhold MD MBA Lars-Eric Associate Cmo, North Region, Bilhpc | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northeast Emergency Assoc Pc Emergency Medical Services | 9/29/23 | $7,882,826 |
Beth Israel Lahey Health Inc Management And Operational Services | 9/29/23 | $4,410,478 |
Westwood Psychiatry Pc Psychiatric Services | 9/29/23 | $345,050 |
Relatecare Llc Healthare Consulting | 9/29/23 | $163,196 |
Essex County Obgyn Physician Services | 9/29/23 | $306,723 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,407,529 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $75,318 |
| 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 | $37,267,730 |
| 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. | $391,375 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,142,130 |
| Pension plan accruals and contributions | $79,222 |
| Other employee benefits | $2,787,296 |
| Payroll taxes | $1,512,089 |
| 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 | $12,128,203 |
| Advertising and promotion | $0 |
| Office expenses | $335,806 |
| Information technology | $1,157 |
| Royalties | $0 |
| Occupancy | $1,865,497 |
| Travel | $18,894 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $523,681 |
| Insurance | $539,782 |
| All other expenses | $0 |
| Total functional expenses | $53,079,089 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,200 |
| Savings and temporary cash investments | $1,241,127 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,221,939 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $623,720 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $241,465 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,324,854 |
| Total assets | $17,051,751 |
| Accounts payable and accrued expenses | $5,731,725 |
| 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 | $11,502,035 |
| Total liabilities | $17,233,760 |
| Net assets without donor restrictions | -$182,009 |
| 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 |
| Total liabilities and net assets/fund balances | -$182,009 |