Foundation Medical Partners Inc
Foundation Medical Partners Inc consistently operates at a significant deficit, with expenses regularly exceeding revenue by tens of millions annually.
EIN: 20456218 · Nashua, NH · NTEE: E99I · Updated: 2026-03-28
Is Foundation Medical Partners Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Foundation Medical Partners Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Foundation Medical Partners Inc
Foundation Medical Partners Inc (EIN: 20456218) is a nonprofit organization based in Nashua, NH, classified under NTEE code E99I. The organization reported total revenue of $127.6M and total assets of $63.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation Medical Partners Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foundation Medical Partners Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Foundation Medical Partners Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all filings, which is highly unusual for an entity with over $125 million in annual revenue. This suggests that executive compensation may be paid by a related or parent organization, making it difficult to assess the true cost of leadership directly from these filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Foundation Medical Partners Inc's IRS 990 filings:
- Consistent and significant operating deficits, with expenses regularly exceeding revenue by tens of millions (e.g., $39.6M deficit in 2023).
- Liabilities frequently exceed assets (e.g., $59.5M liabilities vs. $57.1M assets in 2023), indicating a potentially leveraged financial position.
- Reporting 0% officer compensation for an organization of this size and revenue, which lacks transparency regarding executive pay structure and source.
Strengths
The following positive indicators were identified for Foundation Medical Partners Inc:
- Consistent growth in total assets over the past decade, from $37.8M in 2014 to $57.1M in 2023.
- Substantial and growing revenue base, exceeding $125 million annually in recent years, indicating significant operational scale.
Frequently Asked Questions about Foundation Medical Partners Inc
Is Foundation Medical Partners Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Foundation Medical Partners Inc (EIN: 20456218) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Foundation Medical Partners Inc spend its money?
Foundation Medical Partners Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Foundation Medical Partners Inc tax-deductible?
Foundation Medical Partners Inc is registered as a tax-exempt nonprofit (EIN: 20456218). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why does Foundation Medical Partners Inc consistently report significant operating deficits?
The organization's expenses have consistently exceeded its revenue by substantial amounts, for example, a $39.6 million deficit in 2023 ($164.9M expenses vs. $125.3M revenue). This pattern suggests either a reliance on external funding not classified as revenue on the 990, or a strategic operational model where deficits are covered by a parent organization or specific grants.
What is the true cost of executive compensation, given 0% reported on 990s?
The IRS 990 filings consistently show 0% officer compensation. For an organization with over $125 million in annual revenue, this is highly unusual and implies that executive compensation is likely handled and paid by a related or parent entity, making it difficult to ascertain the actual compensation costs directly from these filings.
Is the organization's financial position stable given its liabilities often exceed assets?
In several recent periods, such as 2023 ($59.5M liabilities vs. $57.1M assets) and 2021 ($71.8M liabilities vs. $61.9M assets), the organization's liabilities have exceeded its assets. While assets have grown over time, this indicates a potentially leveraged financial position that warrants closer scrutiny regarding long-term stability and debt management.
How does Foundation Medical Partners Inc cover its consistent operating deficits?
The consistent and significant operating deficits, such as the $39.6 million deficit in 2023, suggest that the organization must have other funding mechanisms or support from a parent entity to cover these shortfalls, as these deficits are not sustainable from reported revenue alone.
Filing History
IRS 990 filing history for Foundation Medical Partners Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Foundation Medical Partners Inc's revenue has grown by 53.7%, moving from $81.5M to $125.3M. Total assets increased by 99.4% over the same period, from $28.7M to $57.1M. Total functional expenses rose by 66.5%, from $99.0M to $164.9M. In its most recent filing year (2023), Foundation Medical Partners Inc reported a deficit of $39.6M, with expenses exceeding revenue. The organization holds $59.5M in liabilities against $57.1M in assets (debt-to-asset ratio: 104.1%), resulting in net assets of $-2,363,168.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $125.3M | $164.9M | $57.1M | $59.5M | — | View 990 |
| 2022 | $127.4M | $163.3M | $52.0M | $55.2M | — | View 990 |
| 2021 | $126.2M | $157.9M | $61.9M | $71.9M | — | View 990 |
| 2020 | $117.0M | $159.5M | $50.7M | $61.9M | — | View 990 |
| 2019 | $93.8M | $121.8M | $49.4M | $50.1M | — | View 990 |
| 2018 | $114.2M | $147.4M | $48.8M | $49.2M | — | View 990 |
| 2017 | $106.3M | $137.5M | $43.9M | $45.5M | — | View 990 |
| 2016 | $102.6M | $128.3M | $41.8M | $40.8M | — | View 990 |
| 2015 | $98.5M | $120.9M | $39.4M | $37.8M | — | View 990 |
| 2014 | $97.7M | $117.9M | $37.8M | $37.7M | — | View 990 |
| 2013 | $95.3M | $111.9M | $35.3M | $35.7M | — | View 990 |
| 2012 | $88.7M | $104.9M | $31.3M | $32.2M | — | View 990 |
| 2011 | $81.5M | $99.0M | $28.7M | $26.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $125.3M, expenses of $164.9M, and assets of $57.1M (revenue -1.6% year-over-year).
- 2022: Revenue of $127.4M, expenses of $163.3M, and assets of $52.0M (revenue +1.0% year-over-year).
- 2021: Revenue of $126.2M, expenses of $157.9M, and assets of $61.9M (revenue +7.8% year-over-year).
- 2020: Revenue of $117.0M, expenses of $159.5M, and assets of $50.7M (revenue +24.8% year-over-year).
- 2019: Revenue of $93.8M, expenses of $121.8M, and assets of $49.4M (revenue -17.9% year-over-year).
- 2018: Revenue of $114.2M, expenses of $147.4M, and assets of $48.8M (revenue +7.4% year-over-year).
- 2017: Revenue of $106.3M, expenses of $137.5M, and assets of $43.9M (revenue +3.6% year-over-year).
- 2016: Revenue of $102.6M, expenses of $128.3M, and assets of $41.8M (revenue +4.2% year-over-year).
- 2015: Revenue of $98.5M, expenses of $120.9M, and assets of $39.4M (revenue +0.8% year-over-year).
- 2014: Revenue of $97.7M, expenses of $117.9M, and assets of $37.8M (revenue +2.5% year-over-year).
- 2013: Revenue of $95.3M, expenses of $111.9M, and assets of $35.3M (revenue +7.5% year-over-year).
- 2012: Revenue of $88.7M, expenses of $104.9M, and assets of $31.3M (revenue +8.8% year-over-year).
- 2011: Revenue of $81.5M, expenses of $99.0M, and assets of $28.7M.
Data Sources and Methodology
This transparency report for Foundation Medical Partners Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.