Signature Healthcare Medical Group Inc
- Assets
- $34.0m
- Revenue
- $61.3m
- Investments
- $14.5m
- Employees
- 613
- Location
- Brockton, MA
- Founding
- 01/1998
- Data as of
- 09/2023
- EIN
- 04-3306782
Organization Overview
Signature Healthcare Medical Group Inc, operating under the name Signature Medical Group, is located in Brockton, MA. The organization was established in 1998. According to its NTEE Classification (E32) the organization is classified as: Community Clinics, under the broad grouping of Health Care and related organizations. As of 09/2023, Signature Medical Group employed 613 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Signature Medical Group 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, Signature Medical Group generated $61.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $83.1m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE MEDICAL, EDUCATIONAL, SCIENTIFIC AND CHARITABLE PURPOSE OF BROCKTON HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIGNATURE HEALTHCARE MEDICAL GROUP ("SMG") PHYSICIAN'S PROVIDED EFFICIENT AND HIGH QUALITY PRIMARY AND SPECIALTY HEALTH CARE SERVICES TO RESIDENTS OF ALL AGES, RACES AND ETHNIC BACKGROUNDS IN THE COMMUNITIES IN WHICH IT SERVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Syed M Imam MD Physician/director | Trustee | 50 | $1,418,802 |
Remya Ravindran Tharackalmd Physician | 50 | $1,206,150 | |
Kyung Hee Chang MD Physician | 50 | $984,231 | |
Suresh Gundaji MD Physician | 50 | $972,906 | |
Alexander Georgakis MD Chief Med Specialty | Trustee | 50 | $850,883 |
Divjot K Sooch MD Physician | 50 | $846,371 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spudman Fergmeister & Associates Llc Physician Services | 9/29/17 | $342,088 |
Matrix Anesthesia Od Physician Services | 9/29/17 | $129,000 |
Allscripts Llc Software | 9/29/17 | $104,947 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $272,405 |
| 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 | $272,405 |
| Total Program Service Revenue | $61,051,330 |
| Investment income | $3,871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,390 |
| 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 | $61,339,996 |
| 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. | $12,395,362 |
| Compensation of current officers, directors, key employees. | $164,223 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $38,288,464 |
| Pension plan accruals and contributions | $575,655 |
| Other employee benefits | $4,336,594 |
| Payroll taxes | $2,602,863 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,156,400 |
| Information technology | $89,002 |
| Royalties | $0 |
| Occupancy | $1,993,914 |
| Travel | $13,317 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,753 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $705,943 |
| Insurance | $1,128,340 |
| All other expenses | $0 |
| Total functional expenses | $83,098,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,618 |
| Savings and temporary cash investments | $619,116 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,152,904 |
| 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 | $6,459,907 |
| Net Land, buildings, and equipment | $2,752,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $14,526,893 |
| Investments—program-related | $0 |
| Intangible assets | $2,669,301 |
| Other assets | $3,821,825 |
| Total assets | $34,008,431 |
| Accounts payable and accrued expenses | $10,019,447 |
| 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 | $18,995,287 |
| Total liabilities | $29,014,734 |
| Net assets without donor restrictions | $4,993,697 |
| 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 | $34,008,431 |