Tufts Medicine Inc
- Assets
- $261.1m
- Revenue
- $777.0k
- Investments
- $138.0m
- Employees
- 735
- Location
- Burlington, MA
- Founding
- 12/2015
- Data as of
- 09/2022
- EIN
- 47-2250732
Organization Overview
Tufts Medicine Inc is located in Burlington, MA. The organization was established in 2015. According to its NTEE Classification (E02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Health Care and related organizations. As of 09/2023, Tufts Medicine Inc employed 735 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tufts Medicine Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CARE INTEGRATION, POPULATION HEALTH MANAGEMENT, PATIENT ACCESS AND OPERATIONAL PERFORMANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TUFTS MEDICINE, INC. ("TUFTS MEDICINE"), WHICH IS HEREINAFTER REFERRED TO AS THE "SYSTEM", REPRESENTS A UNIQUE MODEL THAT SERVES THE HEALTH NEEDS OF COMMUNITIES WHILE ENHANCING THE AFFORDABILITY OF CARE. THE SYSTEM FOCUSES ON CARE INTEGRATION, POPULATION HEALTH MANAGEMENT, PATIENT ACCESS, AND OPERATIONAL PERFORMANCE. TUFTS MEDICINE IS THE SOLE CORPORATE MEMBER OF TUFTS MEDICAL CENTER PARENT, INC. AND CONSOLIDATED AFFILIATES ("TUFTS MC"), CIRCLE HEALTH, INC. AND CONSOLIDATED AFFILIATES ("CIRCLE HEALTH"), MELROSEWAKEFIELD HEALTHCARE, INC. AND CONSOLIDATED AFFILIATES ("MELROSEWAKEFIELD"), TUFTS MEDICINE CARE AT HOME PARENT ("TMCAH"), FORMERLY HOME HEALTH FOUNDATION, INC ("HHF"), TUFTS MEDICINE INTEGRATED NETWORK, INC. ("TMIN"), FORMERLY WELLFORCE CLINICALLY INTEGRATED NETWORK, TUFTS MEDICINE PHARMACY, LLC. ("TM PHARMACY"), TUFTS MEDICINE INDEMNITY COMPANY, LTD ("TMEDIC"), FORMERLY WELLFORCE INDEMNITY COMPANY, LTD, AND TUFTS MEDICINE HIGH RELIABILITY INSTITUTE, INC.TUFTS MEDICINE IS DESIGNED TO ENHANCE THE DELIVERY OF PATIENT-CENTERED CARE AND IMPROVE ACCESS TO HIGH-QUALITY, CLINICALLY INTEGRATED HEALTHCARE SERVICES FOR PATIENTS THROUGHOUT MANY COMMUNITIES IN THE COMMONWEALTH OF MASSACHUSETTS. TUFTS MEDICINE IS WORKING TO FACILITATE IMPLEMENTATION OF A COMMON, COORDINATED APPROACH, ACROSS THE THREE AFFILIATING HEALTH CARE SYSTEMS, TO POPULATION HEALTH MANAGEMENT. THIS WILL ALLOW FOR INNOVATION IN CARE MANAGEMENT MODELS, DISSEMINATION OF BEST PRACTICES, SHARED INFRASTRUCTURE AND INFORMATION SYSTEMS, AND INCREASED SCALE TO SERVE A GREATER POPULATION BASE. THE ROLE OF TUFTS MEDICINE FOR TUFTS MC, CIRCLE HEALTH, MELROSEWAKEFIELD AND TMCAH WILL FACILITATE RATIONALIZING CARE DELIVERY TO ASSURE THAT SERVICES ARE PROVIDED IN THE MOST EFFICIENT SETTING, WITH INCENTIVES FOR CLOSE COLLABORATION AMONG PHYSICIANS, FACILITIES AND OTHER HEALTH CARE PROVIDERS. THE ROLE OF TUFTS MEDICINE WILL ALSO SERVE TO FOSTER EFFECTIVE CLINICAL INTEGRATION ACROSS THE CONTINUUM OF CARE, INCLUDING IMPLEMENTING STRATEGIES PROMOTING RISK-SHARING AND HIGH PERFORMANCE OUTCOMES. THROUGH TUFTS MEDICINE, TUFTS MC, CIRCLE HEALTH, MELROSEWAKEFIELD AND TMCAH WILL DEFINE A COMMON SET OF RESPONSIBILITIES THAT HONORS THEIR RESPECTIVE AUTONOMY WHILE PROMOTING A COLLABORATIVE AND COMPREHENSIVE FUTURE-LOOKING STRATEGIC VISION PROACTIVELY RESHAPING HOW HEALTH CARE IS PROVIDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Dandorph President & CEO | OfficerTrustee | 49 | $1,289,948 |
Clarissa Yang MD Trustee | Trustee | 1 | $0 |
David Criss Trustee | Trustee | 1 | $0 |
Cynthia Barginere Trustee | Trustee | 1 | $0 |
Firdaus Bhathena Trustee | Trustee | 1 | $0 |
Patricia Campbell Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ernst & Young Llp Consulting | 9/29/23 | $1,283,623 |
Alvarez & Marsal Healthcare Group Consulting | 9/29/23 | $1,078,966 |
Ropes & Gray Llp Legal Consulting | 9/29/23 | $562,174 |
Issues Management Group Inc Consulting | 9/29/23 | $450,000 |
Mindful Leadership Group Consulting | 9/29/23 | $292,592 |
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 | $785,870 |
| 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 | $777,039 |
| 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. | $4,009,799 |
| Compensation of current officers, directors, key employees. | $4,009,799 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,547,881 |
| Pension plan accruals and contributions | $595,604 |
| Other employee benefits | $2,885,398 |
| Payroll taxes | $1,334,101 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,643,464 |
| Fees for services: Accounting | $198,364 |
| Fees for services: Lobbying | $273,592 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,891,490 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $590,881 |
| Travel | $0 |
| 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 | $47,778 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $25,018,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,805,903 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,698,581 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $908,418 |
| Prepaid expenses and deferred charges | $7,649,607 |
| Net Land, buildings, and equipment | $331,771 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $138,048,209 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $89,696,704 |
| Total assets | $261,139,193 |
| Accounts payable and accrued expenses | $177,040,557 |
| 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 | $21,551,544 |
| Total liabilities | $198,592,101 |
| Net assets without donor restrictions | $62,547,092 |
| 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 | $261,139,193 |
Grants Awarded
Over the last fiscal year, Tufts Medicine Inc has awarded $41,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
THE SCHWARTZ CENTER PURPOSE: SPONSOR EVENT | $5,500 |
TRUSTEES OF TUFTS UNIVERSITY PURPOSE: SPONSOR EVENT | $5,000 |
AMERICAN HEART ASSOCIATION PURPOSE: SPONSOR EVENT | $15,000 |
NACD NEW ENGLAND CHAPTER PURPOSE: SPONSOR EVENT | $6,000 |
MASS ASSOCIATION MENTAL HEALTH PURPOSE: SPONSOR EVENT | $5,000 |
HOME HEALTH FOUNDATION PURPOSE: SPONSOR EVENT | $5,000 |