Childrens Hospital Pediatric Associates Inc
- Assets
- $614.6m
- Revenue
- $392.5m
- Investments
- $0.0
- Employees
- 572
- Location
- Boston, MA
- Founding
- 01/2004
- Data as of
- 09/2023
- EIN
- 43-1987409
Organization Overview
Childrens Hospital Pediatric Associates Inc is located in Boston, MA. The organization was established in 2004. 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, Childrens Hospital Pediatric Associates Inc employed 572 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Childrens Hospital Pediatric 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, Childrens Hospital Pediatric Associates Inc generated $392.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $362.8m during the year ending 09/2023. While expenses have increased by 4.1% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION PROVIDES MEDICAL, HEALTH CARE SERVICES, AND EDUCATIONAL SERVICES TO (SEE SCHEDULE O) BOSTON CHILDREN'S HOSPITAL AND HARVARD MEDICAL SCHOOL. THE FOUNDATION ALSO PROVIDES CARE FOR PATIENTS IN NEED OF HEALTH CARE SERVICES, REGARDLESS OF THEIR ABILITY TO PAY, AS WELL AS PROVIDING COMMUNITY BASED SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS ORGANIZED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES. THE FOUNDATION PROVIDES MEDICAL AND HEALTH CARE SERVICES PRIMARILY TO PATIENTS AT BOSTON CHILDREN'S HOSPITAL, AND AT SATELLITE LOCATIONS. THE FOUNDATION MAY CHARGE FOR PATIENT CARE AND OTHER MEDICAL SERVICES, PROVIDED THAT ANY NET INCOME BE USED FOR THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES FOR WHICH THE FOUNDATION WAS CREATED. THE FOUNDATION ALSO PROVIDES CARE FOR PATIENTS REGARDLESS OF THEIR ABILITY TO PAY, AS WELL AS PROVIDING AND SUBSIDIZING HOSPITAL AND COMMUNITY BASED SERVICES THAT ARE EITHER UNAVAILABLE OR LIMITED ELSEWHERE IN THE COMMUNITY.
THE FOUNDATION RECEIVES INCOME FROM BOSTON CHILDREN'S HOSPITAL FOR PROVIDING ADMINISTRATION SERVICES. THE FOUNDATION CARRIES ON AND PROMOTES BASIC AND APPLIED MEDICAL RESEARCH AND EDUCATION IN THE FIELD OF PEDIATRIC CARE BY TEACHING STUDENTS AND OTHER MEDICAL AND SCIENTIFIC PERSONNEL; BY PROVIDING OR SUPPLEMENTING INCOME TO RESEARCH PERSONNEL THROUGH FELLOWSHIPS, RESEARCH GRANTS, AND STIPENDS; AND BY GIVING LECTURES AND PUBLISHING INFORMATION CONCERNING PROBLEMS AND RESEARCH RESULTS IN THE FIELD OF PEDIATRIC CARE IN ORDER TO EDUCATE THE GENERAL PUBLIC AND THE MEDICAL PROFESSION.
THE FOUNDATION RECEIVES REIMBURSEMENT OF CERTAIN SALARY AND FRINGE COSTS FROM GRANTS FROM BOSTON CHILDREN'S HOSPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary R Fleisher MD President (10/22 To 6/23) | OfficerTrustee | 55 | $831,176 |
Vincent Chiang MD Treasurer/clerk | OfficerTrustee | 60 | $865,666 |
Richard Bachur MD Trustee | Trustee | 45 | $782,274 |
Joel Hirschhorn MD Trustee | Trustee | 60 | $394,165 |
Anne Stack MD Trustee | Trustee | 60 | $427,850 |
Stella Kourembanas MD Trustee | Trustee | 60 | $534,488 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dana Farber Cancer Institute Oncology Services | 9/29/23 | $3,951,269 |
Sentinel Benefits Benefits Administration | 9/29/23 | $286,496 |
Cape Cod Hospital Physician Services | 9/29/23 | $217,117 |
Dr Neo Farrag Neonatology Physician Services | 9/29/23 | $214,219 |
Lightning Bolt Solutions Inc Computer Software Fees | 9/29/23 | $108,368 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,103,880 |
| 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 | $1,103,880 |
| Total Program Service Revenue | $359,340,833 |
| Investment income | $9,944,777 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,068,734 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $392,458,224 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,804,666 |
| 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. | $11,541,590 |
| Compensation of current officers, directors, key employees. | $811,799 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $221,162,932 |
| Pension plan accruals and contributions | $15,670,489 |
| Other employee benefits | $30,854,569 |
| Payroll taxes | $7,378,444 |
| Fees for services: Management | $720,902 |
| Fees for services: Legal | $68,727 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,304,523 |
| Fees for services: Other | $8,154,101 |
| Advertising and promotion | $44,434 |
| Office expenses | $3,128,825 |
| Information technology | $77,133 |
| Royalties | $0 |
| Occupancy | $5,852,831 |
| Travel | $281,693 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $112,871 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,175 |
| Insurance | $2,585,734 |
| All other expenses | $8,010,727 |
| Total functional expenses | $362,805,646 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,985,764 |
| Savings and temporary cash investments | $93,180,196 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,720,721 |
| Loans from Officers, Directors, or Controlling Persons | $601,896 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,287,619 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $904,019 |
| Net Land, buildings, and equipment | $13,953 |
| Investments—publicly traded securities | $436,026,855 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,856,787 |
| Total assets | $614,577,810 |
| Accounts payable and accrued expenses | $15,345,589 |
| 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 | $82,481,955 |
| Total liabilities | $97,827,544 |
| Net assets without donor restrictions | $511,580,110 |
| Net assets with donor restrictions | $5,170,156 |
| 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 | $614,577,810 |
Grants Awarded
Over the last fiscal year, Childrens Hospital Pediatric Associates Inc has awarded $15,370,161 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON CHILDREN'S HOSPITAL PURPOSE: General Support | $15,346,161 |
DANA FARBER CANCER INSTITUTE PURPOSE: General Support | $24,000 |