Civic Intelligence

Evms Academic Physicians and Surgeons

EIN 52-1576648 • 501(c)3 • Norfolk, VA

Profile

The evms academic physicians and surgeons health services foundation (the "foundation") exists to further the mission and goals of the eastern virginia medical school ("evms"), a body politic and corporate of the commonwealth of virginia. The foundation (continued on sch. O) will focus on the administration of the clinical practice of evms faculty members while striving to enhance the capacity of the faculty of evms to provide excellence in their education, research, and service roles. It aspires to help evms to attract and retain the best clinical faculty available in each of the several clinical/educational departments of evms by supporting clinical practice and research, in conjunction with teaching, under working conditions comparable to those prevailing in comparable academically oriented medical centers within the commonwealth of virginia and elsewhere.

4111 Monarch Way 500Norfolk, VA 23508

www.evms.edu/MEDICALGROUP

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

65th percentile

0.42x

Higher debt load relative to assets than 65% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

41st percentile

0.25x

Higher debt load relative to revenue than 41% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

54th percentile

6.1%

Higher net margin than 54% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

91st percentile

$1,314,132

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

80th percentile

17%

Faster asset growth than 80% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

61st percentile

13%

Faster revenue growth than 61% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$56,609,277

Up $8,215,984 (+17%) from 2023

Liabilities

Up

$23,676,422

Up $2,246,934 (+10%) from 2023

Net Assets

Up

$32,932,855

Up $5,969,050 (+22%) from 2023

Revenue

Up

$96,409,437

Up $11,121,574 (+13%) from 2023

Expenses

Up

$90,570,714

Up $14,192,184 (+19%) from 2023

Net Income

Down

$5,838,723

Down $3,070,610 (-34%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $18,355,566Liabilities 2010: $11,970,641Net Assets 2010: $6,384,9252010Assets 2011: $17,821,447Liabilities 2011: $10,696,123Net Assets 2011: $7,125,3242011Assets 2012: $18,248,004Liabilities 2012: $11,052,190Net Assets 2012: $7,195,8142012Assets 2013: $19,065,942Liabilities 2013: $11,438,559Net Assets 2013: $7,627,3832013Assets 2014: $19,245,158Liabilities 2014: $11,717,381Net Assets 2014: $7,527,7772014Assets 2015: $21,332,508Liabilities 2015: $12,220,662Net Assets 2015: $9,111,8462015Assets 2016: $22,128,995Liabilities 2016: $13,329,763Net Assets 2016: $8,799,2322016Assets 2017: $20,667,614Liabilities 2017: $11,421,576Net Assets 2017: $9,246,0382017Assets 2018: $20,451,204Liabilities 2018: $11,711,083Net Assets 2018: $8,740,1212018Assets 2019: $21,451,043Liabilities 2019: $15,690,610Net Assets 2019: $5,760,4332019Assets 2020: $21,915,426Liabilities 2020: $15,534,671Net Assets 2020: $6,380,7552020Assets 2021: $34,499,167Liabilities 2021: $24,019,828Net Assets 2021: $10,479,3392021Assets 2022: $38,048,783Liabilities 2022: $20,183,414Net Assets 2022: $17,865,3692022Assets 2023: $48,393,293Liabilities 2023: $21,429,488Net Assets 2023: $26,963,8052023Assets 2024: $56,609,277Liabilities 2024: $23,676,422Net Assets 2024: $32,932,8552024

Highlighted filing

2024

Assets$56,609,277
Liabilities$23,676,422
Net Assets$32,932,855

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50MExpenses 2010: $63,481,9052010Expenses 2011: $67,905,4852011Expenses 2012: $71,013,4792012Expenses 2013: $64,210,5202013Revenue 2014: $68,898,437Expenses 2014: $68,998,043Net Income 2014: -$99,6062014Revenue 2015: $73,399,523Expenses 2015: $71,815,454Net Income 2015: $1,584,0692015Revenue 2016: $75,794,478Expenses 2016: $76,107,092Net Income 2016: -$312,6142016Revenue 2017: $74,438,390Expenses 2017: $73,991,584Net Income 2017: $446,8062017Revenue 2018: $72,886,686Expenses 2018: $73,392,603Net Income 2018: -$505,9172018Revenue 2019: $73,441,565Expenses 2019: $76,421,253Net Income 2019: -$2,979,6882019Revenue 2020: $76,952,937Expenses 2020: $76,332,615Net Income 2020: $620,3222020Revenue 2021: $83,916,228Expenses 2021: $79,817,644Net Income 2021: $4,098,5842021Revenue 2022: $80,545,238Expenses 2022: $73,185,528Net Income 2022: $7,359,7102022Revenue 2023: $85,287,863Expenses 2023: $76,378,530Net Income 2023: $8,909,3332023Revenue 2024: $96,409,437Expenses 2024: $90,570,714Net Income 2024: $5,838,7232024

Highlighted filing

2024

Revenue$96,409,437
Expenses$90,570,714
Net Income$5,838,723

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$56.6$23.7$32.9$96.4$90.6$5.84
2023Detailed filing. Detailed filing data is available for this year.$48.4$21.4$27.0$85.3$76.4$8.91
2022Detailed filing. Detailed filing data is available for this year.$38.0$20.2$17.9$80.5$73.2$7.36
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.5$24.0$10.5$83.9$79.8$4.10
2020Detailed filing. Detailed filing data is available for this year.$21.9$15.5$6.38$77.0$76.3$0.62
2019Detailed filing. Detailed filing data is available for this year.$21.5$15.7$5.76$73.4$76.4$2.98
2018Detailed filing. Detailed filing data is available for this year.$20.5$11.7$8.74$72.9$73.4$0.51
2017Detailed filing. Detailed filing data is available for this year.$20.7$11.4$9.25$74.4$74.0$0.45
2016Detailed filing. Detailed filing data is available for this year.$22.1$13.3$8.80$75.8$76.1$0.31
2015Detailed filing. Detailed filing data is available for this year.$21.3$12.2$9.11$73.4$71.8$1.58
2014Detailed filing. Detailed filing data is available for this year.$19.2$11.7$7.53$68.9$69.0$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.1$11.4$7.63$64.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.2$11.1$7.20$71.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.8$10.7$7.13$67.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.4$12.0$6.38$63.5
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 27, 2025
Return Version
2023v6.0
Gross Receipts
$96,409,437
Mission and Program Overview

Mission

The evms academic physicians and surgeons health services foundation (the "foundation") exists to further the mission and goals of the eastern virginia medical school ("evms"), a body politic and corporate of the commonwealth of virginia. The foundation (continued on sch. O) will focus on the administration of the clinical practice of evms faculty members while striving to enhance the capacity of the faculty of evms to provide excellence in their education, research, and service roles. It aspires to help evms to attract and retain the best clinical faculty available in each of the several clinical/educational departments of evms by supporting clinical practice and research, in conjunction with teaching, under working conditions comparable to those prevailing in comparable academically oriented medical centers within the commonwealth of virginia and elsewhere.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$22,537,464$21,692,456▼ $845,008
Accounts Receivable$13,718,012$18,682,710▲ $4,964,698
Land, Buildings, and Equipment, Net$1,939,333$2,165,463▲ $226,130
Prepaid Expenses and Deferred Charges$641,614$831,880▲ $190,266
Cash and Non-Interest-Bearing Accounts$1,440$1,340▼ $100
Total Assets$48,393,293$56,609,277▲ $8,215,984
Other Assets Total$9,555,430$13,235,428▲ $3,679,998
Liabilities
Other Liabilities$17,367,392$20,234,878▲ $2,867,486
Accounts Payable and Accrued Expenses$4,062,096$3,441,544▼ $620,552
Total Liabilities$21,429,488$23,676,422▲ $2,246,934
Net Assets / Fund Balance
Net Assets With Donor Restrictions$26,888,508$32,857,558▲ $5,969,050
Net Assets Without Donor Restrictions$75,297$75,297→ $0
Total Net Assets Fund Balance$26,963,805$32,932,855▲ $5,969,050
Total Liabilities and Net Assets / Fund Balance$48,393,293$56,609,277▲ $8,215,984

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,102,916$19,210,462$21,313,378
Leasehold Improvements$62,547$2,877,533$2,940,080
Other Assets Org$9,182,170--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alfred Abuhamad MdBoard ChairmanFT$1,236,240$77,892$1,314,132
Barry Strasnick MdMedical DirectorFT$649,218$659,813$1,309,031
L D Britt MdDirectorFT$793,453$255,929$1,049,382
Scott Williams MdDirectorFT$748,968$211,675$960,643
George Saade MdDirector (as of 2/23)FT$690,620$127,319$817,939
Abby Van Voorhees MdDirectorFT$506,666$259,957$766,623
Rehan Qayyum MdDirectorFT$535,812$145,472$681,284
Edwin Crandley MdAssist ProfessorFT$615,066$37,981$653,047
Joseph Hudgens MdAssociate ProfessorFT$391,921$240,814$632,735
Jimmie Collins MdProfessorFT$367,864$260,619$628,483
Peter Takacs MdProfessor (director Until 1/23)FT$459,890$138,270$598,160
Eric DobratzAssociate ProfessorFT$346,519$246,613$593,132
Beverly Roberts-atwater DoDirectorFT$303,588$257,186$560,774
David Speigel MdDirectorFT$368,365$158,022$526,387
Alison Dobbie MdDirector (until 3/24)FT$416,537$47,447$463,984
Brant CoxFormer Interim CEO/directorFT$426,663$23,847$450,510
Margaret Baumgarten MdDirectorFT$277,298$51,160$328,458
Mark Sinesi MdDirector (until 09/21)PT$303,914-$303,914
John Snellings MdDirector (as of 04/24)FT$255,491$45,060$300,551
Shannon Mccole MdDirector (until 7/24)FT$179,050$100,152$279,202
PO ChouCEO/director (as of 7/23)FT$225,000$36,130$261,130
Richard Bikowski MdDirector (until 06/20)PT$130,340-$130,340
Antonio Quidgley Nevares MdDirector (until 10/21)PT$10,100-$10,100

Board Members and Trustees

NameTitle
Conrad ShumadineDirector
Helen HeseliusDirector
William Van BurenDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Aerotekaston CarteractalentTemp Staff Services7301 PARKWAY DR, Hanover, MD 21076$1,466,523
Weatherby Locums INCLocum Tenens SrvcsPO BOX 972633, Dallas, TX 75397$422,616
Ecg Management Consultants INCConsulting ServicesPO BOX 74008176, Chicago, IL 60674$335,921
Language Line Services INCTranslation Services1 RAGSDALE DRIVE BLDG 2, Monterey, CA 93940$264,859
Kpmg LLPAudit And Tax Svcs222 CENTRAL PARK AVE, Virginia Beach, VA 23462$239,415
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$85,017,552
Investment Income
$918,795
Other Revenue
$10,473,090
Change in Net Assets
$5,838,723

Audited Revenue Reconciliation

Revenue per Audited Statements
$96,409,437
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$519,334
Total Revenue per Audited Statements
$96,928,771
Total Revenue per Form 990
$96,409,437
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$65,427,367
Other Expenses$21,532,507
Grants and Similar Amounts Paid$3,610,840
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$47,824,710$3,944,221-$51,768,931
Information Technology$5,725,116$229,142-$5,954,258
Current Officers, Directors, Trustees, and Key Employees$3,402,050$825,442-$4,227,492
Fees for Services Other$3,664,395$255,892-$3,920,287
Other Employee Benefits$3,192,067$466,159-$3,658,226
Grants to Domestic Orgs$3,610,840--$3,610,840
Payroll Taxes$3,061,311$339,643-$3,400,954
Occupancy$2,568,437$548,693-$3,117,130
Royalties$761,334$2,003,283-$2,764,617
Insurance$1,761,272$53,277-$1,814,549
Pension Plan Contributions$1,530,106$174,560-$1,704,666
All Other Expenses$1,028,592$67,448-$1,096,040
Depreciation Depletion$394,465$410,091-$804,556
Comp Disqual Persons$509,648$157,450-$667,098
Travel$172,215$7,044-$179,259
Fees for Services Accounting$31,400$138,015-$169,415
Fees for Services Legal$26,225$118,981-$145,206
Conferences and Meetings$79,805$4,718-$84,523
Other Expenses$44,302$3,480-$44,302
Advertising$18,075$9,200-$27,275
Total Functional Expenses$80,517,905$10,052,809$0$90,570,714

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$91,090,048
Total Expenses per Form 990$90,570,714
Expenses per Audited Statements$90,440,387
Expenses Not Reported on Form 990$649,661
Expenses Not Reported on Financial Statements$130,327
Other Expense Adjustments$130,327
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Eastern Virginia Medical SchoolNorfolk, VA501 (c)(3)DEAN'S FUND$2,407,227
Eastern Virginia Medical SchoolNorfolk, VA501 (c)(3)CHAIRMAN'S FUND$1,203,613
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$9,447,633
Accrued Nonsalary Physician Comp$8,425,293
Payable Due to Evms$2,361,952
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 9:

Addresses of directors that cannot be reached at the organization's mailing address: william van buren kaufman & canoles, pc 150 w. Main street, suite 2100 norfolk, va 23510 conrad shumadine wilcox & savage 440 monticello ave., suite 2200 norfolk, va 23510 helen hesilius 735 fairfax ave., suite 1008c norfolk, va 23507

Form 990, Part VI, Section A, Line 7B

The foundation bylaws cannot be altered or amended without the approval of the evms board of visitors.

Form 990, Part VI, Section B, Line 11B

Evms academic physicians and surgeons health services foundation (evms medical group) engages the independent accounting firm kpmg to assist with review and filing of the 990 return. Evms medical group provides the data to kpmg for completion of the 990 return. The return is reviewed by the director of finance and medical director of evms medical group prior to filing with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Evms academic physicians and surgeons health services foundation (evms medical group) adopts and conforms to the conflicts of interest and commitment policy of the eastern virginia medical school. Evms employees who conduct evms related activities, including faculty who conduct professional clinical services through evms medical group, are covered individuals under the evms policy. Disclosures by covered individuals are required on an annual basis and are to be updated if entering into a new arrangement that could pose a conflict (evms disclosure of external financial and time commitments form). The initial disclosure is made to the chair or to the head of the covered individual's department. The review and management process begins with the department chair/head and includes the institutional designated authority and the institutional conflict of interest committee. The conflict of interest committee is the final authority for determining if a conflict of interest exists. Any violation of the conflict of interest policy is considered a violation of evms institutional policy and subject to disciplinary procedures, including sanctions up to and including suspension and dismissal. Additionally, employees in violation of this policy who have received financial benefit are liable for repayment of any and all financial benefits that resulted from the violation.

Form 990, Part VI, Section B, Line 15

Management compensation is reviewed by the evms academic physicians and surgeons health services foundation (evms medical group) board of directors. The board considers comparability data from the mgma, aamc and other compensation data resources in its review. The ceo of evms medical group has a written contract. Key employees of evms medical group are the clinical department chairs of evms who have dual employment contracts with evms and evms medical group.

Form 990, Part VI, Section C, Line 19

The governing documents of evms academic physicians and surgeons health services foundation, including form 990 returns, are made available to the public for inspection upon receipt of a formal written request. The foundation does not make its annual financial statements or conflict of interest policy available to the public.

Filing and Contact Details

Filer

Filer Name
Evms Academic Physicians and Surgeons
EIN
52-1576648
Phone
7574516200
Address
4111 MONARCH WAY 500, NORFOLK, VA 23508

Signing Officer

Name
PO Chou
Title
CEO
Phone
7574516200
Signed
2025-02-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
PO Chou
Formed
1989
Legal Domicile
Va
Voting Board Members
16
Independent Board Members
3
Employees
663
Volunteers
2

Preparer

Firm
Kpmg Llp
Address
8350 BROAD STREET SUITE 900, MCLEAN, VA 22102
Preparer
Brian Kearns
Phone
7032868000
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

Supports clinical practice and research at evms in conjunction with providing faculty the opportunity to teach in a physician group setting within an academic environment.

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

The evms academic physicians and surgeons health services foundation (the "foundation") exists to further the mission and goals of the eastern virginia medical school ("evms"), a body politic and corporate of the commonwealth of virginia. The foundation will focus on the administration of the clinical practice of evms faculty members while striving to enhance the capacity of the faculty of evms to provide excellence in their education, research, and service roles. It aspires to help evms to attract and retain the best clinical faculty available in each of the several clinical/educational departments of evms by supporting clinical practice and research, in conjunction with teaching, under working conditions comparable to those prevailing in comparable academically oriented medical centers within the commonwealth of virginia and elsewhere. The foundation will sponsor the clinical practice of medicine in the academic setting to provide the faculty the opportunity to teach excellence in health care delivery to students at all levels of training. The foundation's support of the medical practice activities will additionally provide an improved environment, which allows for the provision of truly excellent patient service. In its clinical and research activities, the foundation will assist evms in assembling a faculty which constitutes a critical mass of talented clinicians dedicated to reinforcing each other's ability to perform clinical services, and to educate students of medicine and the healing arts to perform at the highest standards of excellence and ever to uphold and enhance the reputation of evms and each of its departments.

FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS:

Over 150 physicians and other providers present over 25 specialties in primary care, medical and surgical care, and radiation oncology with full-time clinical practices. Our offices are located throughout the greater hampton roads region, with most specialties available on the campus of evms. Foundation physicians and other providers support patients through comprehensive services, award winning medical research, specialized patient care programs in cancer, diabetes, geriatrics, trauma and women's health, and collaboration with national and international partners developing medical technologies for the future. We pride ourselves on staying up to date on the latest and safest therapies, treatments and tehcnology. Our practices use an electronic health record, or ehr, that allows us to serve our patients faster and better. The ehr replaces the old paper medical chart with secure computerized records with added benefits such as electronic prescribing and remote access to patient medical information. Our physicians can view secure medical records anytime from anywhere to safely provide after-hours or emergency care. Our values of excellence, integrity, teamwork and service drive us to provide patient-centered quality healthcare to the patients that we serve.

FORM 990, PART XI, LINE 9:

Net assets released from restrictions -519,334. Federal grant program revenues 649,661.

Financial Statement Notes

PART X, LINE 2:

The internal revenue service has determined and informed mg by a letter dated january 29, 1993 that it qualifies as a not-for-profit corporation under section 501(c)(3) of the internal revenue code (irc) and is exempt from federal income tax pursuant to section 501(a) of the irc. Management is not aware of any course of action or event that has occurred that might adversely affect mg's qualified status and believes mg is designed and is currently being operated in compliance with the applicable requirements of the irc. The organization accounts for uncertain tax positions in accordance with asc topic 740. The organization's financial statements do not include any liability for uncertain tax positions in accordance with asc topic 740.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Net assets released from restrictions 519,334.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Federal grant program expenses 649,661.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Change in net assets with donor restrictions 130,327.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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