Coastal Medical Physicians Inc
- Assets
- $30.5m
- Revenue
- $76.3m
- Investments
- $0.0
- Employees
- 769
- Location
- Providence, RI
- Founding
- Data as of
- 09/2023
- EIN
- 84-4944884
Organization Overview
Coastal Medical Physicians Inc is located in Providence, RI. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 09/2023, Coastal Medical Physicians Inc employed 769 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coastal Medical Physicians 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, Coastal Medical Physicians Inc generated $76.3m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 30.2% each year . All expenses for the organization totaled $82.1m during the year ending 09/2023. While expenses have increased by 35.4% per year over the past 3 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
CMPI WAS ORGANIZED TO PROVIDE ACCOUNTABLE PATIENT-CENTERED, HIGH QUALITY, EFFICIENT, VALUE-BASED AND INNOVATIVE CARE TO SERVE THE HEALTH NEEDS OF THE COMMUNITIES IN RHODE ISLAND AND ELSEWHERE. (SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
COASTAL MEDICAL PHYSICIANS, INC. (CMPI) IS A PRIMARY CARE DRIVEN PRACTICE SERVING 165,000 PATIENTS WITH A TEAM OF OVER 150 PROVIDERS & CLINICIANS LOCATED IN 25 MEDICAL OFFICES ACROSS RHODE ISLAND. CMPI SUPPORTS THE THREE-PART AIM OF BETTER CARE, BETTER HEALTH, AND LOWER COST. CMPI IS COMMITTED TO PROVIDING OUTSTANDING CARE TO ITS PATIENTS BY OFFERING 365-DAY ACCESS TO SICK VISITS, DEVELOPING CHRONIC CARE MANAGEMENT PROGRAMS FOR ITS SICKEST PATIENTS, AND BUILDING CARE TEAMS THAT SUPPORT ITS PROVIDERS IN DELIVERING HIGH-QUALITY CARE. CMPI FOSTERS A CULTURE OF TEAMWORK, INNOVATION, AND SHARED LEARNING THAT INSPIRES ITS EMPLOYEES TO CONTINUOUSLY IMPROVE THE CARE PROVIDED AND THE SERVICES OFFERED TO PATIENTS. CMPI OFFERS CARDIOLOGY, PULMONOLOGY, BEHAVIORAL HEALTH, AND MUSCULOSKELETAL HEALTH SERVICES. CMPI ALSO PROVIDES LABORATORY SERVICES TO CMPI PATIENTS AND THE COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy J Babineau Fmr. Chair | 0 | $0 | |
David A Kirshner Treas. 11/22 | Officer | 0 | $0 |
Dean G Roye MD Secretary | Trustee | 0.25 | $0 |
G Alan Kurose MD Chairman- 7/23 | OfficerTrustee | 40 | $636,825 |
Dequiang Zhang MD Physician | 40 | $465,085 | |
Edward Mcgookin MD President | Officer | 40 | $425,533 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eclinical Works Llc Elec. Med Record Software | 9/29/23 | $556,712 |
Ronald V Williams Electrician | 9/29/23 | $188,775 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $246,609 |
| 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 | $246,609 |
| Total Program Service Revenue | $75,885,303 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$28,534 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $76,308,215 |
| 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. | $2,831,442 |
| Compensation of current officers, directors, key employees. | $1,354,449 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,163,638 |
| Pension plan accruals and contributions | $2,404,678 |
| Other employee benefits | $6,528,742 |
| Payroll taxes | $4,025,416 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | -$235 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $597,816 |
| Advertising and promotion | $3,104 |
| Office expenses | $167,947 |
| Information technology | $2,187,630 |
| Royalties | $0 |
| Occupancy | $5,011,966 |
| Travel | $606,401 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,267 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $176,416 |
| Insurance | $790,256 |
| All other expenses | $2,073,935 |
| Total functional expenses | $82,094,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $965,271 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,813,924 |
| 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 | $289,532 |
| Net Land, buildings, and equipment | $1,405,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,101 |
| Other assets | $9,018,971 |
| Total assets | $30,503,726 |
| Accounts payable and accrued expenses | $9,163,822 |
| Grants payable | $0 |
| Deferred revenue | $2,291,825 |
| 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 | $22,355,491 |
| Total liabilities | $33,811,138 |
| Net assets without donor restrictions | -$3,534,015 |
| Net assets with donor restrictions | $226,603 |
| 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 | $30,503,726 |