Civic Intelligence

Evms Academic Physicians and Surgeons Health Services Foundation

990 • Fiscal year 2017 • EIN 52-1576648

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 27, 2017

4111 Monarch Way Suite 500Norfolk, VA 23508

(757) 451-6200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.55x

Higher debt load relative to assets than 73% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

26th percentile

0.15x

Higher debt load relative to revenue than 26% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

39th percentile

0.6%

Higher net margin than 39% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

88th percentile

$1,037,752

Higher top officer pay than 88% of similar nonprofits.

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

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

8th percentile

-6.6%

Faster asset growth than 8% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

26th percentile

-1.8%

Faster revenue growth than 26% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Down

$20,667,614

Down $1,461,381 (-6.6%) from 2016

Net Assets

Up

$9,246,038

Up $446,806 (+5.1%) from 2016

Liabilities

Down

$11,421,576

Down $1,908,187 (-14%) from 2016

Revenue

Down

$74,438,390

Down $1,356,088 (-1.8%) from 2016

Expenses

Down

$73,991,584

Down $2,115,508 (-2.8%) from 2016

Net Income

Up

$446,806

Up $759,420 (+243%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2017

Assets$20,667,614
Liabilities$11,421,576
Net Assets$9,246,038

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2017

Revenue$74,438,390
Expenses$73,991,584
Net Income$446,806
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 27, 2017
Return Version
2016v3.1
Gross Receipts
$74,438,390
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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$11,416,332$11,508,420▲ $92,088
Land, Buildings, and Equipment, Net$2,941,642$2,708,480▼ $233,162
Savings and Temporary Cash Investments$3,779,570$2,561,468▼ $1,218,102
Prepaid Expenses and Deferred Charges$559,724$345,153▼ $214,571
Cash and Non-Interest-Bearing Accounts$3,750$3,750→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$22,128,995$20,667,614▼ $1,461,381
Other Assets Total$3,427,977$3,540,343▲ $112,366
Liabilities
Other Liabilities$8,802,724$6,312,115▼ $2,490,609
Accounts Payable and Accrued Expenses$4,527,039$5,109,461▲ $582,422
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$13,329,763$11,421,576▼ $1,908,187
Net Assets / Fund Balance
Temporarily Rstr Net Assets$8,723,935$9,170,741▲ $446,806
Unrestricted Net Assets$75,297$75,297→ $0
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$8,799,232$9,246,038▲ $446,806
Total Liabilities and Net Assets / Fund Balance$22,128,995$20,667,614▼ $1,461,381

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,652,244$15,599,576$17,251,820
Leasehold Improvements$1,056,236$2,040,073$3,096,309
Other Land Buildings$0$0$0
Other Assets Org$3,540,343--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark Sinesi MdDirectorFT$861,531$176,221$1,037,752
Barry Strasknick MdDirectorFT$408,476$545,706$954,182
Scott WilliamsAssistant ProfessorFT$663,385$210,698$874,083
Alfred Abuhamad MdDirectorFT$606,834$249,285$856,119
L D Britt MdDirectorFT$555,599$157,752$713,351
Andrew ZaulsAssistant ProfessorFT$98,838$569,907$668,745
James HillAssociate ProfessorFT$370,440$199,565$570,005
Mark ShavesAssistant ProfessorFT$411,767$107,625$519,392
Joseph HanProfessorFT$129,304$385,455$514,759
Jerry Nadler MdDirectorFT$459,734$12,035$471,769
James F Lind JrCEOFT$364,326$64,733$429,059
Stephen Deutsch Md PhdMedical DirectorFT$369,664$58,953$428,617
Shannon Mccole MdDirectorFT$233,208$146,736$379,944
Christine MatsonDirectorFT$314,965$52,346$367,311
Antonio Quidgley Nevares MdDirectorFT$254,997$57,128$312,125
Abby Van Voorhees MdDirectorFT$277,750$10,457$288,207
Richard Bikowski MdDirectorFT$209,776$56,836$266,612

Board Members and Trustees

NameTitle
Richard V Homan MdBoard Chairman
Conrad ShumadineDirector
Mark BabashanianDirector
William Van BurenDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Ross Barrett PCMed/speech Pathology1700 TIMBER RIDGE COURT, Virginia Beach, VA 23455$243,203
Sellers Dorsey And AssociatesHealthcare Consult1635 MARKET ST 301, Philadelphia, PA 19103$126,991
Kpmg LLPAccounting440 MONTICELLO AVE SUITE 1900, Norfolk, VA 23510$117,750
Arvon StaffingTemporary Staffing5544 GREENWICH RD SUITE 102, Virginia Beach, VA 23462$108,686
Weatherby Locums INCMedical StaffingP O BOX 972633, Dallas, TX 75397-2633$100,466
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$72,467,646
Investment Income
$144,231
Other Revenue
$1,826,513
Change in Net Assets
$446,806

Audited Revenue Reconciliation

Revenue per Audited Statements
$74,438,390
Revenue Not Reported on Form 990
$604,406
Total Revenue per Audited Statements
$75,042,796
Total Revenue per Form 990
$74,438,390
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$53,430,120
Other Expenses$18,902,527
Grants and Similar Amounts Paid$1,658,937
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$34,261,595$7,863,363-$42,124,958
Office Expenses$3,723,461$2,260,222-$5,983,683
Other Employee Benefits$3,025,048$733,787-$3,758,835
Current Officers, Directors, Trustees, and Key Employees$2,893,731$607,149-$3,500,880
Occupancy$2,605,644$651,411-$3,257,055
Payroll Taxes$2,045,980$511,495-$2,557,475
Grants to Domestic Orgs$1,658,937--$1,658,937
Information Technology$1,212,318$303,080-$1,515,398
Pension Plan Contributions$1,208,336$279,636-$1,487,972
All Other Expenses$1,157,235$278,994-$1,436,229
Fees for Services Management$1,059,023$264,756-$1,323,779
Insurance$1,004,401$95,785$0$1,100,186
Depreciation Depletion$832,420$208,105-$1,040,525
Other Expenses$261,516$65,379-$326,895
Travel$253,245$63,311-$316,556
Advertising$82,359$20,590-$102,949
Fees for Services Accounting-$65,954-$65,954
Fees for Services Legal-$54,131-$54,131
Conferences and Meetings$8,500$33,998-$42,498
Interest-$10,914-$10,914
Fees for Services Other$180$720-$900
Total Functional Expenses$59,263,828$14,727,756$0$73,991,584

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$74,554,729
Expenses per Audited Statements$73,991,584
Total Expenses per Form 990$73,991,584
Expenses Not Reported on Form 990$563,145
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Eastern Virginia Medical SchoolNorfolk, VA501(c)(3)Dean's Fund$1,105,958
Eastern Virginia Medical SchoolNorfolk, VA501(c)(3)Chair Fund$552,979
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Nonsalary Physician Compensation$3,923,720
Payable/due to Evms$2,263,395
Notes Payable to Evms$125,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
No
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 mark babashanian 721 fairfax ave. Norfolk, va 23201

Form 990, Part VI, Section B, Line 11

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

Form 990, Part VI, Section B, Lines 12A, 12B and 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, Lines 15A and 15B

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
In Care Of
% MELANIE TYLER
Phone
7574516200
Address
4111 Monarch Way Suite 500, NORFOLK, VA 23508
Doing Business As
EVMS Medical Group

Signing Officer

Name
James F Lind Jr
Title
CEO
Phone
7574516200
Signed
2017-11-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James F Lind Jr
Formed
1989
Legal Domicile
Va
Voting Board Members
16
Independent Board Members
4
Employees
700
Volunteers
2

Preparer

Firm
Kpmg Llp
Address
1676 INTERNATIONAL DRIVE, McLean, VA 22102
Preparer
Kay Thies
Phone
7032868000
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 1 - ORGANIZATION'S 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.

Financial Statement Notes

Schedule D, Part X

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.

Schedule D, Part XI, Line 2D

Net assets released from restrictions $604,406

Schedule D, Part XII, Line 2D

Federal grant program revenues $563,145

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IRS990/Desc0OVER 170 PHYSICIANS AND OTHER PROVIDERS PRESENT 31 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 TECHNOLOGY. 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 BENIFITS 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.
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Document Assets

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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