Faculty Practice Foundation Inc & Affiliates

“All officers and directors are employees of either the individual practice plan, boston university or boston medical center, related organizations. Certain officers and directors of the practice plans also serve as officers and trustees of boston medical center.”

“With the exception of those listed below, the sole corporate member of the organizations included in this group return is faculty practice foundation, inc. Bu surgical associates is the sole corporate member of the following: - boston university cardiac and thoracic surgical foundation, inc. - boston university general surgical associates, inc. - boston university neurosurgical associates, inc. - boston university orthopaedic surgical associates, inc. - boston university plastic surgery associates, inc. - boston university medical center urologists, inc. - bumc otolaryngologic foundation, inc.”

“Certain actions must be approved by the organization's sole corporate member, as set forth in the bylaws, including adoption of the budget, any merger, consolidation, liquidation or dissolution, any capital transaction, and incurrence of debt.”

“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 board of each plan 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 of the system 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.”

“In accordance with instructions, part vi lines 15a/15b are answered no for this short-year return as no compensation is reported in part vii. However, the annual process for determining their compensation includes a review and approval by independent persons, comparability data, and contemporaneous documentation of the deliberation and decision.”

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

“Shared service agreement the plans are affiliated with boston medical center ("bmc") and boston university chobanian & avedisian school of medicine ("chobanian & avedisian school"). The plans each entered into a common paymaster agreement with bmc and the trustees of boston university ("bu"). Under the terms of their physician practice agreements, faculty physicians and practitioners ("faculty members") are employed by the individual plans. The faculty members serve the benefit of both bmc (by providing clinical services) and chobanian & avedisian school (by serving as faculty members of chobanian & avedisian school). Each plan, with respect to each faculty member that the plan employs, pays bu a percentage of the faculty member's salary and fringe benefits and related payment fees. Boston university, as common paymaster, then makes salary payments and provides benefits to faculty members. The plans also pay for a portion of administrative salaries and fringe benefits for nonphysician employees of bmc, who provide services to them. The calendar year 2023 compensation of the persons 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.”

“David beck is assistant clerk for all reporting entities except evans medical foundation and boston rehabilitation medicine associates, inc. For evans and rehab, he serves as clerk. For faculty practice foundation, inc. He is a former assistant clerk.”

“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.”

“The faculty practice plans ("the plans") were established as not-for-profit corporations operating exclusively for the benefit of boston medical center and boston university chobanian & avedisian school of medicine. 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. The plans provide ambulatory services ranging from primary adult and pediatric care to advanced specialty care; affiliated physicians also staff the largest 24 hour level 1 trauma center in new england.”

“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.”

“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.”

“Net asset transfer from affiliates 1,942,144.”

“The faculty practice plans are 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.”