Foundation Medical Partners Inc
94% goes to programs $0 to raise $100 Thin reserves
Foundation Medical Partners Inc is a 501(c)(3) organization based in Nashua, New Hampshire, registered in 1993, with $127,607,939 in FY2023 revenue. CharityIndex grades it C+, and it directs about 94% of spending to programs.
Po Box 3410, Nashua, NH, 03061 EIN 02-0456218 Since 1993
Revenue (FY2023)
$127.6M
▲ 1.8% vs prior year
Health median: $840K
Expenses (FY2023)
$168.0M
Net assets
-$3.9M
Employees
1,004
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
C+Program efficiency40% of the rating94% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Foundation Medical Partners Inc: 94% to programs · $0 to raise $100 earns a C+ on this criterion. See the exact thresholds →
DFinancial health25% of the rating0 mo reserves · -32% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Foundation Medical Partners Inc: 0 mo reserves · -32% margin earns a D on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Foundation Medical Partners Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Foundation Medical Partners Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
The organization is dedicated to providing exceptional care that improves the health and well-being of individuals and communities we serve
Contact & location
- Address
- Po Box 3410, Nashua, NH, 03061
- City
- Nashua
- State
- New Hampshire
- Category
- Health Care
- Subcategory
- Nursing & Home Care
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $97.7M (FY2013) to $127.6M (FY2023) across 10 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $66.9MNet assets -$3.9M
Operating margin
-31.6%
Spent more than it raised in the latest fiscal year.
Total assets
$63.1M
Total liabilities
$66.9M
Net assets
-$3.9M
Salaries & benefits
$123.4M
73% of expenses
Board members
14
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $127,607,939▲1.8% | $167,986,779▲1.9% | -$3,877,083▼64.1% | $63,068,368▲10.4% | 990 |
| 2022 | $125,311,940▼1.6% | $164,929,885▲1.0% | -$2,363,168▲27.4% | $57,147,729▲10.0% | 990 |
| 2021 | $127,393,246▲1.0% | $163,332,003▲3.4% | -$3,253,959▲67.2% | $51,959,863▼16.1% | 990 |
| 2020 | $126,187,618▲7.8% | $157,949,667▼1.0% | -$9,929,688▲11.6% | $61,944,014▲22.2% | 990 |
| 2019 | $117,018,082▲2.5% | $159,479,930▲8.2% | -$11,230,138▼2930% | $50,683,382▲3.9% | 990 |
| 2017 | $114,160,768▲7.4% | $147,365,873▲7.2% | -$370,658▲76.7% | $48,786,470▲11.2% | 990 |
| 2016 | $106,323,684▲3.6% | $137,457,183▲7.1% | -$1,592,408▼252% | $43,884,286▲4.9% | 990 |
| 2015 | $102,627,729▲4.2% | $128,308,915▲6.1% | $1,045,519▼33.1% | $41,847,943▲6.2% | 990 |
| 2014 | $98,455,934▲0.8% | $120,942,913▲2.6% | $1,562,203▲1531% | $39,399,628▲4.3% | 990 |
| 2013 | $97,662,241 | $117,932,155▲5.4% | $95,770▲123% | $37,781,584▲7.2% | 990 |
| 2012 | — | $111,864,791▲6.6% | -$412,580▲55.8% | $35,258,190▲12.7% | 990 |
| 2011 | — | $104,896,841▲5.9% | -$934,003▼138% | $31,290,047▲9.2% | 990 |
| 2010 | — | $99,039,523▲10.5% | $2,431,779▼13.1% | $28,658,590▲7.8% | 990 |
| 2009 | — | $89,618,472 | $2,799,265 | $26,583,890 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Mollie A Maccormack Md — $1,124,272 (0.67% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Mollie A Maccormack Md | Physician | 40 | $1,124,272 |
| Michael R Kaczanowski Md | Physician | 40 | $1,099,401 |
| Witta Jassir | Physician | 40 | $1,047,063 |
| Tung T Nguyen Md | Physician | 40 | $1,034,812 |
| Edward A Sirlin III Md | Physician | 40 | $912,470 |
| Karen Maynard Md | Trustee | 42 | $653,545 |
| Salvatore Vella Jr | Chief Medical Officer | 20 | $513,175 |
| Alonzo Deberry | Trustee | 2 | — |
| Bobbie D Bagley | Vice Chair | 2 | — |
| Colin T Mchugh | Snhmc President/ceo/secretary | 2 | — |
| Craig Fitzgerald | Acting Chair | 2 | — |
| Eitan Zeira | Trustee | 2 | — |
| Helen Honorow Esq | Trustee | 2 | — |
| James Watkins | Fmp Interim President | 40 | — |
| John Friberg Esq | Interim Ceo, Solutionhealth | 2 | — |
| K Brian Mclaughlin | Trustee | 2 | — |
| Kenneth Matsis | Vp Finance, Southern Nh Health | 2 | — |
| Marc Sadowsky Md | Trustee | 2 | — |
| Mark William Begor Jr | Treasurer | 2 | — |
| Melliyal Annamalai | Trustee | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Mass Ceneral Physician Organization | Professional Services | $2,964,355 |
| Weatherby Locum | Physician Staffing | $586,156 |
| Medicus Radiology Services LLC | Professional Services | $398,053 |
| Hpiii Manchester II LLC | Professional Services | $281,291 |
| New England Telemedice PA | Professional Services | $172,363 |
Grants received · $16K total
2 grants to Foundation Medical Partners Inc totaling $16K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Patient Access Network Foundation | Patient assistance | 2015 | $7,352 |
| Patient Access Network Foundation | Patient assistance | 2014 | $8,481 |
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Frequently asked questions
- Is Foundation Medical Partners Inc a legitimate nonprofit?
- Yes. Foundation Medical Partners Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 02-0456218, based in Nashua, New Hampshire. Donations are tax-deductible.
- What is Foundation Medical Partners Inc's EIN?
- Foundation Medical Partners Inc's Employer Identification Number (EIN) is 02-0456218.
- How much revenue does Foundation Medical Partners Inc report?
- Foundation Medical Partners Inc reported $127,607,939 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Foundation Medical Partners Inc's spending goes to programs?
- Foundation Medical Partners Inc spends about 94% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Foundation Medical Partners Inc have?
- CharityIndex grades Foundation Medical Partners Inc C+, based on program efficiency and fundraising cost.
- How much does Foundation Medical Partners Inc's highest-paid employee make?
- The highest reported compensation on Foundation Medical Partners Inc's latest Form 990 is $1,124,272, paid to Mollie A Maccormack Md (Physician).
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Data for Foundation Medical Partners Inc (EIN 02-0456218) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.