Medical Practice Consortium Tr
- Assets
- $15.2m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- Data as of
- 12/2021
- EIN
- 61-6613201
Organization Overview
Medical Practice Consortium Tr is located in Indianapolis, IN. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Practice Consortium Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Medical Practice Consortium Tr generated $11.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (18.3%) each year. All expenses for the organization totaled $11.9m during the year ending 12/2021. 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
TO ESTABLISH ONE OR MORE EMPLOYEE WELFARE BENEFIT PLANS FOR THE MEDICAL PRACTICE CONSORTIUM EMPLOYERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOLE PURPOSE AND ACTIVITY OF THE TRUST IS TO ESTABLISH ONE OR MORE EMPLOYEE WELFARE BENEFIT PLANS FOR THE MEDICAL PRACTICE CONSORTIUM EMPLOYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Freeland Treasurer | OfficerTrustee | 2 | $0 |
Mark Floyd MD Vice President | OfficerTrustee | 2 | $0 |
Erin Parish Secretary | OfficerTrustee | 2 | $0 |
Francis Price Jr MD President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Indiana State Medical Association Insura Management Fees | 12/30/21 | $253,815 |
Lhd Benefits Advisors Advisor | 12/30/21 | $121,500 |
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 | $11,133,335 |
| Investment income | $27,182 |
| 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 | $11,160,517 |
| 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 | $9,257,964 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,585 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $13,200 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,465 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $134 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $40,993 |
| All other expenses | $466,648 |
| Total functional expenses | $11,926,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,680,687 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $469,384 |
| 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 | $18,752 |
| 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 | $15,168,823 |
| Accounts payable and accrued expenses | $26,366 |
| Grants payable | $0 |
| Deferred revenue | $898,847 |
| 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 | $1,447,675 |
| Total liabilities | $2,372,888 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $12,795,935 |
| Total liabilities and net assets/fund balances | $15,168,823 |