Faculty Practice Foundation Inc

“All officers and trustees except gene lindsey and monica noether are employees of either boston university, boston medical center, or the faculty practice plan corporations, related organizations. Certain officers and trustees of the foundation also serve as officers and trustees of boston medical center.”

“The members of the organization are trustees of boston university and boston medical center.”

“As outlined in the bylaws, the board of trustees includes: - the presidents of the practice plans for the department of medicine and the department of surgery; - two trustees selected from the presidents of the other practice plans; - three trustees who are each medical professionals employed by one of the practice plans (at least one of whom is an advanced practice provider); - three independent trustees; - the president of the boston medical center corporation medical-dental staff; - the full-time ceo of the foundation, serving as the president; - the ceo of bmc; and - the dean of chobanian & avedisian school.”

“Certain actions must be approved by the members, as set forth in the bylaws, including any merger, consolidation, liquidation or dissolution, any loan agreement, and any agreement to encumber the accounts or tangible or intangible assets of the organization. The members must also approve an increase or decrease in the number of trustees or officers, the addition of new members, and the annual operating budget.”

“Prior to the filing of the form 990 with the irs, the form 990 was prepared by our outside tax consultants and reviewed by internal management. The audit and compliance committee of the boston medical center board of trustees then reviewed the return. Each member of the faculty practice foundation board was provided a copy of the final form 990 prior to filing.”

“Conflict of interest questionnaires are distributed by the compliance department of bmc health system, inc on an annual basis for the entire system. The chief compliance officer or their designee queries trustees, officers, and directors on at least an annual basis regarding relationships that may create potential conflicts of interest. The chief compliance officer or their designee reviews all disclosures and determines whether there are actual or potential conflicts of interest. The chief compliance officer advises the board of trustees and officers of the corporation accordingly.”

“The foundation does not make its governing documents or conflict of interest policy available to the public. The financial statements are made available through the massachusetts attorney general's office.”

“The calendar year 2023 compensation of the contractors reported in part vii was reported on the form 990 filed for the tax year-ended june 30, 2024. In accordance with instructions, no compensation is reported on this short-year return for tax year=ended september 30, 2024.”

“Faculty practice foundation, inc.'s ("the foundation") primary mission is to improve the health of all, by leading through innovation and collaboration in patient care, education, and research; and to promote the professional and personal well-being of its physicians and other providers. The foundation facilitates the efficient and effective provision of medical services to the community through the faculty practice plans.”

“Faculty practice foundation, inc. Is affiliated with the following faculty practice plans ("the plans") and facilitates the efficient and effective provision of medical services to the community through the plans: boston emergency physician foundation, inc. Boston rehabilitation medicine associates, inc. Boston university cardiac & thoracic surgical foundation, inc. Boston university dermatology support services i, inc. Boston university dermatology support services ii, inc. Boston university dermatology, inc. Boston university eye associates, inc. Boston university family medicine, inc. Boston university general surgical associates, inc. Boston university mallory pathology associates, inc. Boston university medical center anesthesiologists, inc. Boston university medical center otolaryngologic foundation, inc. Boston university medical center radiologists, inc. Boston university medical center urologists, inc. Boston university neurology associates, inc. Boston university neurosurgical associates, inc. Boston university obstetrics & gynecology foundation, inc. Boston university orthopaedic surgical associates, inc. Boston university plastic surgery associates, inc. Boston university psychiatry associates, inc. Boston university radiation oncology, inc. Boston university surgical associates, inc. Child health foundation of boston, inc. Evans medical foundation, inc. The foundation, incorporated on october 18, 1994, is a tax-exempt, non-profit massachusetts corporation operated exclusively for clinical, charitable, scientific and educational purposes. The plans, also tax-exempt, non-profit corporations, were established to operate exclusively for the benefit of bmc and boston university chobanian & avedisian school of medicine ("chobanian & avedisian school") (collectively, the "institutions"). The foundation is granted the power to approve the plans' annual operating budgets, physician compensation plans, and managed care contracts. The plans' purpose is to provide, coordinate, and facilitate the delivery of patient care services and to promote the development of an integrated system of delivery to more efficiently and effectively meet the health care needs of the communities served by the institutions.”

“In accordance with instructions, part iv, line 23 is answered no for this short-year return as no compensation is reported. However, annual compensation is reported on the organization's prior 990 for year ended june 30, 2024.”

“Faculty practice foundation has no employees. However, it reimburses the trustees of boston university and boston medical center for use of its employees.”

“The number reported in box 3 of the organization's 2023 form 1096 was reported on the prior 990 for tax year ended june 30, 2024.”

“Purchased services: program service expenses 770,618. Management and general expenses 0. Fundraising expenses 0. Total expenses 770,618.”

“Net asset transfer to affiliates -1,942,144.”

“Faculty practice foundation, inc. Is included in the boston medical center health system financial statement audit for the period 10/1/2023 - 9/30/2024. The short period 7/1/2024 - 9/30/2024 was not separately audited.”