L&m Physician Association Inc
- Assets
- $0.0
- Revenue
- $20.4m
- Investments
- $0.0
- Employees
- 477
- Location
- New London, CT
- Founding
- Data as of
- 03/2017
- EIN
- 27-1094375
Organization Overview
L&m Physician Association Inc is located in New London, CT. As of 03/2017, L&m Physician Association Inc employed 477 individuals. L&m Physician Association 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 03/2017, L&m Physician Association Inc generated $20.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (25.4%) each year. All expenses for the organization totaled $29.5m during the year ending 03/2017. As we would expect to see with falling revenues, expenses have declined by (29.4%) per year over the past 2 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTED AND FURTHERED THE WELFARE, PROGRAMS AND ACTIVITIES OF LAWRENCE & MEMORIAL HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HISTORICALLY, L&M PHYSICIAN ASSOCIATION, INC. SUPPORTED LAWRENCE & MEMORIAL HOSPITAL AND LMW HEALTHCARE'S COMMITMENT TO ADVANCE THE HEALTH AND WELL-BEING OF THE INDIVIDUALS IN THE HOSPITALS' SERVICE AREA (WHICH IS GREATER NEW LONDON, CT AND WESTERLY, RI) BY ENGAGING PHYSICIANS TO PROVIDE PHYSICIAN SERVICES TO THE HOSPITALS AND ORGANIZATIONS AFFILIATED WITH THE HOSPITALS FOR THE PURPOSE OF PRACTICING MEDICINE AND PROVIDING HEALTH CARE SERVICES AS A MEDICAL FOUNDATION.THE ACTIVITIES WERE TRANSITIONED TO NORTHEAST MEDICAL GROUP INC.THE OPERATIONS OF THE ENTITY WERE WOUND DOWN AND MERGED INTO NORTHEAST MEDICAL GROUP INC ON MARCH 31, 2017.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Cummings Ex-Officio/trustee | Trustee | 1 | $0 |
Brenda Applegate Treasurer/trustee | OfficerTrustee | 40 | $208,411 |
Anthony Carter Secretary/trustee | OfficerTrustee | 39 | $303,346 |
Jon Gaudio Chairman/trustee | OfficerTrustee | 37 | $685,784 |
Christopher Lehrach President/trustee | OfficerTrustee | 1 | $0 |
Paul Bourguignon Trustee | Trustee | 40 | $461,215 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Berkeley Research Group Llc Consulting Service | 9/29/16 | $995,564 |
Staff Care Inc Staffing Service | 9/29/16 | $267,230 |
Theracom Llc Data Processing | 9/29/16 | $166,867 |
Diversified Building Services Llc Cleaning Service | 9/29/16 | $149,915 |
Ipc Hospitalists Of New England Pc Medical Service | 9/29/16 | $149,910 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $20,363,247 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $20,363,247 |
| 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. | $1,908,398 |
| Compensation of current officers, directors, key employees. | $190,408 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,679,213 |
| Pension plan accruals and contributions | $366,392 |
| Other employee benefits | $2,658,705 |
| Payroll taxes | $395,455 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,474 |
| Fees for services: Accounting | $8,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,923,221 |
| Advertising and promotion | $1,000 |
| Office expenses | $193,352 |
| Information technology | $1,521 |
| Royalties | $0 |
| Occupancy | $1,611,225 |
| Travel | $90,719 |
| 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 | $561,856 |
| Insurance | $797,004 |
| All other expenses | $18,757 |
| Total functional expenses | $29,451,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |