Faculty Practice Foundation Inc

Analysis

Faculty Practice Foundation Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in May 1997, 29 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Faculty Practice Foundation Inc reported income of $497.7m and spending of $498.4m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $390.0m to $497.7m (+28%), an average of +6.3% a year. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Faculty Practice Foundation Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include St Vincents Medical Center Inc ($479.2m), Seton Hall University ($528.4m) and Electric Power Research Institute Inc ($478.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $19.9m (4.0% of expenses). Other salaries and wages came to $322.9m. At year end it held assets of $90.8m against liabilities of $26.0m, net assets of $64.8m. It reported 2,288 employees.