Medical Faculty Associates Inc
- Assets
- $180.5m
- Revenue
- $427.8m
- Investments
- $120.0k
- Employees
- 2,490
- Location
- Washington, DC
- Founding
- 08/2000
- Data as of
- 06/2020
- EIN
- 52-2220700
Organization Overview
Medical Faculty Associates Inc is located in Washington, DC. The organization was established in 2000. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 06/2021, Medical Faculty Associates Inc employed 2,490 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Faculty 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 06/2020, Medical Faculty Associates Inc generated $427.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $471.0m during the year ending 06/2020. While expenses have increased by 1.8% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE PATIENT CARE, CLINICAL RESEARCH, AND TEACHING TO MEDICAL STUDENTS AND RESIDENTS OF GWU.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH CARE PROGRAMS, GENERAL/OTHER: MEDICAL FACULTY ASSOCIATES, INC. (THE "COMPANY") WAS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR THE BENEFIT OF THE GEORGE WASHINGTON UNIVERSITY (THE "UNIVERSITY"), A CONGRESSIONALLY CHARTERED EDUCATIONAL INSTITUTION OF HIGHER EDUCATION IN THE DISTRICT OF COLUMBIA, INCLUDING ITS SCHOOL OF MEDICINE AND HEALTH SCIENCES, AND IN FURTHERANCE HEREOF THE COMPANY SHALL: PROVIDE PROFESSIONAL PHYSICIAN SERVICES AND RELATED HEALTH CARE SERVICES, INCLUDING DIAGNOSTIC AND THERAPEUTIC PROCEDURES AND SERVICES, TO PATIENTS IN THE GREATER WASHINGTON, DC COMMUNITY AND OTHER AREAS, INCLUDING THOSE UNABLE TO PAY FOR SUCH CARE; EMPLOY PHYSICIANS DULY LICENSED TO PRACTICE MEDICINE WHO HOLD A FACULTY APPOINTMENT AT THE UNIVERSITY, AND OTHER QUALIFIED PERSONNEL AND MAKE THE SERVICE OF SUCH PERSONNEL AVAILABLE TO INDIGENT AND OTHER PERSONS REQUIRING SUCH CARE; AND PERFORM THE OTHER NECESSARY OR APPROPRIATE FUNCTIONS AND SERVICES IN CONNECTION WITH THE ABOVE PURPOSES. IN SATISFACTION OF OUR EXEMPT PURPOSE, MFA PROVIDED 441,992 EPISODES OF CARE, WROTE OFF APPROXIMATELY $82 MILLION IN CHARGES FOR THE NEEDY, AND CONDUCTED NUMEROUS COMMUNITY OUTREACH PROGRAMS TO INCLUDE HIV CLINICS, PROSTATE CANCER SCREENINGS, BREAST CARE CENTER, AND A MAMMOVAN.
MEDICAL RESEARCH, GENERAL/OTHER: PROVIDE CERTAIN CLINICAL RESEARCH AND ADMINISTRATIVE SERVICES TO THE UNIVERSITY; FURTHER THE ADVANCEMENT OF MEDICAL KNOWLEDGE THROUGH BASIC AND APPLIED RESEARCH IN MEDICINE, LECTURES, CONSULTING, PUBLISHING INFORMATION AND TEACHING, PARTICULARLY REGARDING MEDICAL AND HEALTH CARE ISSUES PREVALENT IN URBAN COMMUNITIES. MFA'S FACULTY DOES THE MAJORITY OF THE MEDICAL RESEARCH AT THE GEORGE WASHINGTON UNIVERSITY MEDICAL SCHOOL DURING THE FISCAL YEAR ENDING JUNE 30, 2021, MFA PERFORMED 213 STUDIES.
PROFESSIONAL EDUCATION: PROVIDE CERTAIN CLINICAL, TEACHING AND ADMINISTRATIVE SERVICES TO THE UNIVERSITY; UNDERTAKE TEACHING THE DIAGNOSIS AND TREATMENT OF MEDICAL CONDITIONS TO MEDICAL STUDENTS, INTERNS, RESIDENTS, FELLOWS AND OTHER PROFESSIONALS IN CONNECTION WITH THE UNIVERSITY. MFA'S FACULTY DOES THE MAJORITY OF THE TEACHING AND RESEARCH AT THE GEORGE WASHINGTON UNIVERSITY MEDICAL SCHOOL DURING THE FISCAL YEAR ENDING JUNE 30, 2021, MFA PROVIDED PROFESSIONAL EDUCATION TO 382 MEDICAL RESIDENTS AND 721 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosner Michael K Physician | 40 | $1,274,605 | |
Sidawy Anton N Chief Physician Executive - Ex Officio Trustee | OfficerTrustee | 40 | $979,905 |
Rao Rajkumar D Physician | 40 | $863,696 | |
Kelly Robert E Former CEO - Ex Officio | 40 | $816,288 | |
Wasserman Alan G Chairman, Dept Of Medicine | Officer | 40 | $777,226 |
Johnson Lynt B Physician | 40 | $758,091 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mckesson Specialty Chemotherapy | 6/29/21 | $65,500,954 |
Nthrive Inc Revenue-cycle Management Services | 6/29/21 | $10,587,125 |
Allscripts Llc - Chicago It/telecommunication Services | 6/29/21 | $9,508,495 |
Mckesson Drug Co Pharmacy Services | 6/29/21 | $9,057,502 |
Sibley Medical Assoc-sup Comp Medical Services | 6/29/21 | $4,790,059 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,512,845 |
| Investment income | $857,591 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$833,788 |
| Net Gain/Loss on Asset Sales | -$47,813 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $427,789,125 |
| Statement of Expenses | |
|---|---|
| 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. | $6,883,152 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $258,657,191 |
| Pension plan accruals and contributions | $9,086,634 |
| Other employee benefits | $7,807,838 |
| Payroll taxes | $15,930,613 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,352,648 |
| Fees for services: Accounting | $169,479 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $758,240 |
| Fees for services: Investment Management | $29,162 |
| Fees for services: Other | $22,217,134 |
| Advertising and promotion | $904,858 |
| Office expenses | $3,447,505 |
| Information technology | $12,142,316 |
| Royalties | $0 |
| Occupancy | $20,789,648 |
| Travel | $1,511,346 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $374,638 |
| Interest | $4,392,684 |
| Payments to affiliates | $4,537,808 |
| Depreciation, depletion, and amortization | $5,708,138 |
| Insurance | $13,356,397 |
| All other expenses | $0 |
| Total functional expenses | $471,027,865 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,323,715 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,207,367 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $816,525 |
| Prepaid expenses and deferred charges | $2,583,468 |
| Investments—publicly traded securities | $13,266,300 |
| Investments—other securities | $120,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,128,746 |
| Total assets | $180,530,229 |
| Accounts payable and accrued expenses | $27,868,637 |
| Grants payable | $0 |
| Deferred revenue | $15,653,385 |
| 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 | $34,415,755 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $148,095,423 |
| Total liabilities | $226,033,200 |
| 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 | -$45,502,971 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Medical Faculty Associates Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Amyotrophic Lateral Sclerosis Assn Arlington, VA PURPOSE: ANNUAL GRANT PAYMENT FY22 CENTER OF EXCELLENCE/RESEARCH | $25,000 |
American Cancer Society Inc Kennesaw, GA PURPOSE: Patient Support | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mcv Associated Physicians Richmond, VA | $296,921,285 | $539,983,630 |
Medical Faculty Associates Inc Washington, DC | $180,530,229 | $427,789,125 |
Physician Enterprise Llc Annapolis, MD | $46,488,758 | $178,945,425 |
Pediatric Physicians Services Inc Baltimore, MD | $9,051,384 | $104,702,808 |
Frederick Health Medical Group Llc Frederick, MD | $25,584,881 | $69,646,523 |
Maryland Family Care Inc Baltimore, MD | $19,893,150 | $66,378,541 |
Pediatric Specialists Of Virginia Llc Fairfax, VA | $27,579,335 | $38,520,642 |
University Of Maryland Surgical Associates P A Baltimore, MD | $11,427,911 | $47,311,185 |
Piedmont Access To Health Services Inc Danville, VA | $37,906,542 | $38,343,160 |
Luminis Health Imaging Inc Annapolis, MD | $107,355,337 | $31,767,215 |
St Charles Health Council Inc Jonesville, VA | $30,755,824 | $22,559,533 |
North East Regional Board Of Dental Examiners Linthicum, MD | $16,752,515 | $24,941,986 |