Philadelphia College Of Osteopathic Medicine
- Assets
- $181.1m
- Revenue
- $168.3m
- Investments
- $1.2m
- Employees
- 1,416
- Location
- Philadelphia, PA
- Founding
- 07/1955
- Data as of
- 06/2021
- EIN
- 23-1355135
Organization Overview
Philadelphia College Of Osteopathic Medicine is located in Philadelphia, PA. The organization was established in 1955. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2022, Philadelphia College Of Osteopathic Medicine employed 1,416 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philadelphia College Of Osteopathic Medicine 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 06/2021, Philadelphia College Of Osteopathic Medicine generated $168.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $152.3m during the year ending 06/2021. While expenses have increased by 4.5% 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
THE COLLEGE PROVIDES EDUCATION TO MEDICAL STUDENTS AND OTHER GRADUATE STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUITION REVENUE PROVIDES EDUCATION TO MEDICAL STUDENTS AND OTHER GRADUATE PROGRAM STUDENTS.
CONTINUING MEDICAL EDUCATION.
GRADUATE MEDICAL EDUCATION - THE INTERN RESIDENT PROGRAMS PROVIDE THE MEANS FOR OUR INTERNS AND RESIDENTS TO LEARN WITH HANDS ON EXPERIENCE AT HOSPITALS. THE EXPERIENCE HELPS TRAIN THEM IN ALL SITUATIONS AS PHYSICIANS.
PRACTICE CARE NETWORK PROVIDES OUR EXTERNS WITH EXPERIENCE IN A CLINICAL ENVIRONMENT. THEY ROTATE THROUGH MEDICAL CLINICS AND FACILITIES, WHICH GIVES THEM THE EDUCATION NEEDED AS THEY PREPARE FOR GRADUATION AND BECOME DOCTORS. THE NETWORK ALSO PROVIDES MEDICAL CARE TO PATIENTS AND GIVES THE STUDENTS THE HANDS ON TRAINING REQUIRED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth J Veit DO Provost, SVP Academic Affairs, Dean | OfficerTrustee | 42 | $724,752 |
Jay S Feldstein DO President And CEO | OfficerTrustee | 42 | $1,107,925 |
Marla D Golden DO Ms Trustee/faculty Representative | Trustee | 40 | $248,341 |
Stephanie Felgoise PHD Trustee/faculty Rep (until Dec 2021) | Trustee | 40 | $163,413 |
Thomas J Gravina Chairman Of The Board | OfficerTrustee | 3 | $0 |
John P Kearney Vice Chairman | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sgc Spring Garden Construction Co Maintenance/contractor | 6/29/22 | $2,867,476 |
Allied Universal Security | 6/29/22 | $1,886,376 |
Media Works Ltd Consulting/advertising | 6/29/22 | $1,471,849 |
The Arthur Jackson Co Housekeeping | 6/29/22 | $1,206,372 |
Amb Janitorial Southeast Inc Housekeeping | 6/29/22 | $460,939 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,451,497 |
| Investment income | $56,169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $502,123 |
| 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 | $168,282,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $94,119 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,334,091 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,381,514 |
| Pension plan accruals and contributions | $7,240,485 |
| Other employee benefits | $12,960,590 |
| Payroll taxes | $5,001,637 |
| Fees for services: Management | $947,510 |
| Fees for services: Legal | $186,604 |
| Fees for services: Accounting | $345,834 |
| Fees for services: Lobbying | $436,956 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,004,492 |
| Advertising and promotion | $760,257 |
| Office expenses | $8,553,018 |
| Information technology | $3,463,476 |
| Royalties | $0 |
| Occupancy | $1,504,987 |
| Travel | $153,076 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $365,126 |
| Interest | $881,598 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,658,883 |
| Insurance | $3,332,229 |
| All other expenses | $0 |
| Total functional expenses | $152,337,485 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,161 |
| Savings and temporary cash investments | $25,058,256 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,503,222 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,323,485 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,038,651 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,237,948 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,232,904 |
| Total assets | $181,055,167 |
| Accounts payable and accrued expenses | $25,343,372 |
| Grants payable | $28,308,621 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $23,451,454 |
| 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 | $11,274,858 |
| Total liabilities | $88,378,305 |
| Net assets without donor restrictions | $0 |
| 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 | $92,676,862 |