Title: 1. Organization
Accounting Policies: Mass General Brigham Incorporated (the Company) is the parent organization and sole corporate member of numerous organizations whose financial condition and operations are described in the consolidated financial statements. The terms Mass General Brigham, We, Our or Us as used herein, unless otherwise stated or indicated by context, refer collectively to the Company and its affiliated organizations.
Mass General Brigham operates academic medical centers, community acute care hospitals, inpatient and outpatient mental health services facilities, urgent care centers, facilities that provide rehabilitation medicine and long-term care services, physician organizations, home health services, nursing homes and a graduate level program for health professions. Our mission is to provide world class health care services to the local communities in which we operate as well as to patients across the United States and the world. In addition, we are a nonuniversity-based noprofit private medical research enterprise and a principal teaching affiliate of the medical and dental schools of Harvard University. Our licensed, not-for-profit managed care organization (Mass General Brigham Health Plan, Inc.) and licensed, for-profit insurance company (Mass General Brigham Health Insurance Company) (collectively referred to as Mass General Brigham Health Plan) provide health insurance products and administrative services to the Massachusetts Medicaid program (MassHealth), Medicare Advantage program, ConnectorCare (a state subsidized program for adults who meet income and immigration guidelines) and commercial populations.
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of Mass General Brigham and is recorded on the accrual basis of accounting.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) 200 Uniform Administrative Requirements Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported as expenditures in prior years in the normal course of business. Assistance Listing Number (ALN) and pass-through award numbers are provided where available. The Schedule combines expenditures of The Brigham and Women’s Hospital, Inc., The General Hospital Corporation d/b/a The Massachusetts General Hospital, Massachusetts Eye and Ear Infirmary, including The Schepens Eye Research Institute, Inc., The McLean Hospital Corporation, The MGH Institute of Health Professions, Inc., The Spaulding Rehabilitation Hospital Corporation, Cooley Dickinson Hospital, Inc., North Shore Medical Center, Inc. d/b/a Salem Hospital, Newton-Wellesley Hospital, Martha’s Vineyard Hospital, Inc., Wentworth-Douglass Hospital, and Mass General Brigham Incorporated. These entities are all affiliates of Mass General Brigham.
2. Facilities and Administrative and Fringe Benefit Costs
Federal expenditures for Research and Development and Research and Development Training for Brigham and Women’s Hospital, Massachusetts General Hospital, McLean, Massachusetts Eye and Ear Infirmary, Schepens Eye Research Institute, Spaulding Rehabilitation Hospital and the MGH Institute of Health Professions include facilities and administrative cost recoveries and fringe benefit cost recoveries in the amounts reported in the Schedule based on rates negotiated and awarded with the DHHS Division of Cost Allocation. These rates are based on financial information submitted utilizing the methods prescribed in Principles for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, contained in the Code of Federal Regulation, Title 45, Part 74, Appendix E (OASC-3). The predetermined facilities and administrative cost rates for IHP are based on financial information submitted utilizing the simplified method for small institutions prescribed in Indirect (F&A) Costs Identification and Assignment, and Rate Determination for Institutions of Higher Education (IHEs), contained in the Code of Federal Regulation, Title 2, Part 200, Appendix III. Expenditures reported in Training and Other include the maximum facilities and administrative recoveries approved by the sponsor. The 10% de-minimis rate is not utilized on Research and Development or Research and Development Training by Mass General Brigham because they have approved negotiated rate agreements. The 10% de-minimis rate is used for Other awards where allowed.
De Minimis Rate Used: Both
Rate Explanation: The 10% de-minimis
rate is not utilized on Research and Development or Research and Development Training by Mass
General Brigham because they have approved negotiated rate agreements. The 10% de-minimis
rate is used for Other awards where allowed.
Mass General Brigham Incorporated (the Company) is the parent organization and sole corporate
member of numerous organizations whose financial condition and operations are described in the
consolidated financial statements. The terms Mass General Brigham, We, Our or Us as used
herein, unless otherwise stated or indicated by context, refer collectively to the Company and its
affiliated organizations.
Mass General Brigham operates academic medical centers, community acute care hospitals,
inpatient and outpatient mental health services facilities, urgent care centers, facilities that provide
rehabilitation medicine and long-term care services, physician organizations, home health services,
nursing homes and a graduate level program for health professions. Our mission is to provide
world class health care services to the local communities in which we operate as well as to patients
across the United States and the world. In addition, we are a nonuniversity-based noprofit private
medical research enterprise and a principal teaching affiliate of the medical and dental schools of
Harvard University. Our licensed, not-for-profit managed care organization (Mass General Brigham
Health Plan, Inc.) and licensed, for-profit insurance company (Mass General Brigham Health
Insurance Company) (collectively referred to as Mass General Brigham Health Plan) provide health
insurance products and administrative services to the Massachusetts Medicaid program
(MassHealth), Medicare Advantage program, ConnectorCare (a state subsidized program for
adults who meet income and immigration guidelines) and commercial populations..
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
Federal award activity of Mass General Brigham and is recorded on the accrual basis of
accounting.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal
Regulations (CFR) 200 Uniform Administrative Requirements Cost Principles and Audit
Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the
Schedule may differ from amounts presented in or used in the preparation of the basic
consolidated financial statements. Negative amounts represent adjustments to amounts reported
as expenditures in prior years in the normal course of business. Assistance Listing Number (ALN)
and pass-through award numbers are provided where available. The Schedule combines
expenditures of The Brigham and Women’s Hospital, Inc., The General Hospital Corporation d/b/a
The Massachusetts General Hospital, Massachusetts Eye and Ear Infirmary, including The
Schepens Eye Research Institute, Inc., The McLean Hospital Corporation, The MGH Institute of
Health Professions, Inc., The Spaulding Rehabilitation Hospital Corporation, Cooley Dickinson
Hospital, Inc., North Shore Medical Center, Inc. d/b/a Salem Hospital, Newton-Wellesley Hospital,
Martha’s Vineyard Hospital, Inc., Wentworth-Douglass Hospital, and Mass General Brigham
Incorporated. These entities are all affiliates of Mass General Brigham.
Title: 2. Facilities and Administrative and Fringe Benefit Costs
Accounting Policies: Mass General Brigham Incorporated (the Company) is the parent organization and sole corporate member of numerous organizations whose financial condition and operations are described in the consolidated financial statements. The terms Mass General Brigham, We, Our or Us as used herein, unless otherwise stated or indicated by context, refer collectively to the Company and its affiliated organizations.
Mass General Brigham operates academic medical centers, community acute care hospitals, inpatient and outpatient mental health services facilities, urgent care centers, facilities that provide rehabilitation medicine and long-term care services, physician organizations, home health services, nursing homes and a graduate level program for health professions. Our mission is to provide world class health care services to the local communities in which we operate as well as to patients across the United States and the world. In addition, we are a nonuniversity-based noprofit private medical research enterprise and a principal teaching affiliate of the medical and dental schools of Harvard University. Our licensed, not-for-profit managed care organization (Mass General Brigham Health Plan, Inc.) and licensed, for-profit insurance company (Mass General Brigham Health Insurance Company) (collectively referred to as Mass General Brigham Health Plan) provide health insurance products and administrative services to the Massachusetts Medicaid program (MassHealth), Medicare Advantage program, ConnectorCare (a state subsidized program for adults who meet income and immigration guidelines) and commercial populations.
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of Mass General Brigham and is recorded on the accrual basis of accounting.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) 200 Uniform Administrative Requirements Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported as expenditures in prior years in the normal course of business. Assistance Listing Number (ALN) and pass-through award numbers are provided where available. The Schedule combines expenditures of The Brigham and Women’s Hospital, Inc., The General Hospital Corporation d/b/a The Massachusetts General Hospital, Massachusetts Eye and Ear Infirmary, including The Schepens Eye Research Institute, Inc., The McLean Hospital Corporation, The MGH Institute of Health Professions, Inc., The Spaulding Rehabilitation Hospital Corporation, Cooley Dickinson Hospital, Inc., North Shore Medical Center, Inc. d/b/a Salem Hospital, Newton-Wellesley Hospital, Martha’s Vineyard Hospital, Inc., Wentworth-Douglass Hospital, and Mass General Brigham Incorporated. These entities are all affiliates of Mass General Brigham.
2. Facilities and Administrative and Fringe Benefit Costs
Federal expenditures for Research and Development and Research and Development Training for Brigham and Women’s Hospital, Massachusetts General Hospital, McLean, Massachusetts Eye and Ear Infirmary, Schepens Eye Research Institute, Spaulding Rehabilitation Hospital and the MGH Institute of Health Professions include facilities and administrative cost recoveries and fringe benefit cost recoveries in the amounts reported in the Schedule based on rates negotiated and awarded with the DHHS Division of Cost Allocation. These rates are based on financial information submitted utilizing the methods prescribed in Principles for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, contained in the Code of Federal Regulation, Title 45, Part 74, Appendix E (OASC-3). The predetermined facilities and administrative cost rates for IHP are based on financial information submitted utilizing the simplified method for small institutions prescribed in Indirect (F&A) Costs Identification and Assignment, and Rate Determination for Institutions of Higher Education (IHEs), contained in the Code of Federal Regulation, Title 2, Part 200, Appendix III. Expenditures reported in Training and Other include the maximum facilities and administrative recoveries approved by the sponsor. The 10% de-minimis rate is not utilized on Research and Development or Research and Development Training by Mass General Brigham because they have approved negotiated rate agreements. The 10% de-minimis rate is used for Other awards where allowed.
De Minimis Rate Used: Both
Rate Explanation: The 10% de-minimis
rate is not utilized on Research and Development or Research and Development Training by Mass
General Brigham because they have approved negotiated rate agreements. The 10% de-minimis
rate is used for Other awards where allowed.
Federal expenditures for Research and Development and Research and Development Training for Brigham and Women’s Hospital, Massachusetts General Hospital, McLean, Massachusetts Eye and Ear Infirmary, Schepens Eye Research Institute, Spaulding Rehabilitation Hospital and the MGH Institute of Health Professions include facilities and administrative cost recoveries and fringe benefit cost recoveries in the amounts reported in the Schedule based on rates negotiated and awarded with the DHHS Division of Cost Allocation. These rates are based on financial information submitted utilizing the methods prescribed in Principles for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, contained in the Code of Federal Regulation, Title 45, Part 74, Appendix E (OASC-3). The predetermined facilities and administrative cost rates for IHP are based on financial information submitted utilizing the simplified method for small institutions prescribed in Indirect (F&A) Costs Identification and Assignment, and Rate Determination for Institutions of Higher Education (IHEs), contained in the Code of Federal Regulation, Title 2, Part 200, Appendix III. Expenditures reported in Training and Other include the maximum facilities and administrative recoveries approved by the sponsor. The 10% de-minimis rate is not utilized on Research and Development or Research and Development Training by Mass General Brigham because they have approved negotiated rate agreements. The 10% de-minimis rate is used for Other awards where allowed.
Title: 3. Federal Student Loan Programs
Accounting Policies: Mass General Brigham Incorporated (the Company) is the parent organization and sole corporate member of numerous organizations whose financial condition and operations are described in the consolidated financial statements. The terms Mass General Brigham, We, Our or Us as used herein, unless otherwise stated or indicated by context, refer collectively to the Company and its affiliated organizations.
Mass General Brigham operates academic medical centers, community acute care hospitals, inpatient and outpatient mental health services facilities, urgent care centers, facilities that provide rehabilitation medicine and long-term care services, physician organizations, home health services, nursing homes and a graduate level program for health professions. Our mission is to provide world class health care services to the local communities in which we operate as well as to patients across the United States and the world. In addition, we are a nonuniversity-based noprofit private medical research enterprise and a principal teaching affiliate of the medical and dental schools of Harvard University. Our licensed, not-for-profit managed care organization (Mass General Brigham Health Plan, Inc.) and licensed, for-profit insurance company (Mass General Brigham Health Insurance Company) (collectively referred to as Mass General Brigham Health Plan) provide health insurance products and administrative services to the Massachusetts Medicaid program (MassHealth), Medicare Advantage program, ConnectorCare (a state subsidized program for adults who meet income and immigration guidelines) and commercial populations.
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of Mass General Brigham and is recorded on the accrual basis of accounting.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) 200 Uniform Administrative Requirements Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported as expenditures in prior years in the normal course of business. Assistance Listing Number (ALN) and pass-through award numbers are provided where available. The Schedule combines expenditures of The Brigham and Women’s Hospital, Inc., The General Hospital Corporation d/b/a The Massachusetts General Hospital, Massachusetts Eye and Ear Infirmary, including The Schepens Eye Research Institute, Inc., The McLean Hospital Corporation, The MGH Institute of Health Professions, Inc., The Spaulding Rehabilitation Hospital Corporation, Cooley Dickinson Hospital, Inc., North Shore Medical Center, Inc. d/b/a Salem Hospital, Newton-Wellesley Hospital, Martha’s Vineyard Hospital, Inc., Wentworth-Douglass Hospital, and Mass General Brigham Incorporated. These entities are all affiliates of Mass General Brigham.
2. Facilities and Administrative and Fringe Benefit Costs
Federal expenditures for Research and Development and Research and Development Training for Brigham and Women’s Hospital, Massachusetts General Hospital, McLean, Massachusetts Eye and Ear Infirmary, Schepens Eye Research Institute, Spaulding Rehabilitation Hospital and the MGH Institute of Health Professions include facilities and administrative cost recoveries and fringe benefit cost recoveries in the amounts reported in the Schedule based on rates negotiated and awarded with the DHHS Division of Cost Allocation. These rates are based on financial information submitted utilizing the methods prescribed in Principles for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, contained in the Code of Federal Regulation, Title 45, Part 74, Appendix E (OASC-3). The predetermined facilities and administrative cost rates for IHP are based on financial information submitted utilizing the simplified method for small institutions prescribed in Indirect (F&A) Costs Identification and Assignment, and Rate Determination for Institutions of Higher Education (IHEs), contained in the Code of Federal Regulation, Title 2, Part 200, Appendix III. Expenditures reported in Training and Other include the maximum facilities and administrative recoveries approved by the sponsor. The 10% de-minimis rate is not utilized on Research and Development or Research and Development Training by Mass General Brigham because they have approved negotiated rate agreements. The 10% de-minimis rate is used for Other awards where allowed.
De Minimis Rate Used: Both
Rate Explanation: The 10% de-minimis
rate is not utilized on Research and Development or Research and Development Training by Mass
General Brigham because they have approved negotiated rate agreements. The 10% de-minimis
rate is used for Other awards where allowed.
The amounts reported in the Student Financial Aid Cluster of the Schedule represent the beginning
balances and newly issued loans in fiscal year 2024. As of September 30, 2024, the MGH Institute
of Health Professions (IHP) had loans outstanding of $163,541 for loans issued as part of the
Nurse Faculty Loan Program (ALN 93.264). IHP had Direct Loans issued by the Department of
Education of $39,938,423 as of September 30, 2024 for ALN 84.268.
Title: 4. Federal Emergency Management Agency (FEMA) Public Assistance
Accounting Policies: Mass General Brigham Incorporated (the Company) is the parent organization and sole corporate member of numerous organizations whose financial condition and operations are described in the consolidated financial statements. The terms Mass General Brigham, We, Our or Us as used herein, unless otherwise stated or indicated by context, refer collectively to the Company and its affiliated organizations.
Mass General Brigham operates academic medical centers, community acute care hospitals, inpatient and outpatient mental health services facilities, urgent care centers, facilities that provide rehabilitation medicine and long-term care services, physician organizations, home health services, nursing homes and a graduate level program for health professions. Our mission is to provide world class health care services to the local communities in which we operate as well as to patients across the United States and the world. In addition, we are a nonuniversity-based noprofit private medical research enterprise and a principal teaching affiliate of the medical and dental schools of Harvard University. Our licensed, not-for-profit managed care organization (Mass General Brigham Health Plan, Inc.) and licensed, for-profit insurance company (Mass General Brigham Health Insurance Company) (collectively referred to as Mass General Brigham Health Plan) provide health insurance products and administrative services to the Massachusetts Medicaid program (MassHealth), Medicare Advantage program, ConnectorCare (a state subsidized program for adults who meet income and immigration guidelines) and commercial populations.
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award activity of Mass General Brigham and is recorded on the accrual basis of accounting.
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) 200 Uniform Administrative Requirements Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the basic consolidated financial statements. Negative amounts represent adjustments to amounts reported as expenditures in prior years in the normal course of business. Assistance Listing Number (ALN) and pass-through award numbers are provided where available. The Schedule combines expenditures of The Brigham and Women’s Hospital, Inc., The General Hospital Corporation d/b/a The Massachusetts General Hospital, Massachusetts Eye and Ear Infirmary, including The Schepens Eye Research Institute, Inc., The McLean Hospital Corporation, The MGH Institute of Health Professions, Inc., The Spaulding Rehabilitation Hospital Corporation, Cooley Dickinson Hospital, Inc., North Shore Medical Center, Inc. d/b/a Salem Hospital, Newton-Wellesley Hospital, Martha’s Vineyard Hospital, Inc., Wentworth-Douglass Hospital, and Mass General Brigham Incorporated. These entities are all affiliates of Mass General Brigham.
2. Facilities and Administrative and Fringe Benefit Costs
Federal expenditures for Research and Development and Research and Development Training for Brigham and Women’s Hospital, Massachusetts General Hospital, McLean, Massachusetts Eye and Ear Infirmary, Schepens Eye Research Institute, Spaulding Rehabilitation Hospital and the MGH Institute of Health Professions include facilities and administrative cost recoveries and fringe benefit cost recoveries in the amounts reported in the Schedule based on rates negotiated and awarded with the DHHS Division of Cost Allocation. These rates are based on financial information submitted utilizing the methods prescribed in Principles for Determining Costs Applicable to Research and Development Under Grants and Contracts with Hospitals, contained in the Code of Federal Regulation, Title 45, Part 74, Appendix E (OASC-3). The predetermined facilities and administrative cost rates for IHP are based on financial information submitted utilizing the simplified method for small institutions prescribed in Indirect (F&A) Costs Identification and Assignment, and Rate Determination for Institutions of Higher Education (IHEs), contained in the Code of Federal Regulation, Title 2, Part 200, Appendix III. Expenditures reported in Training and Other include the maximum facilities and administrative recoveries approved by the sponsor. The 10% de-minimis rate is not utilized on Research and Development or Research and Development Training by Mass General Brigham because they have approved negotiated rate agreements. The 10% de-minimis rate is used for Other awards where allowed.
De Minimis Rate Used: Both
Rate Explanation: The 10% de-minimis
rate is not utilized on Research and Development or Research and Development Training by Mass
General Brigham because they have approved negotiated rate agreements. The 10% de-minimis
rate is used for Other awards where allowed.
Mass General Brigham applied for reimbursement of certain expenses related to the COVID-19
pandemic under Assistance Listing #97.036, FEMA Public Assistance through the Commonwealth
of Massachusetts and the State of New Hampshire. Expenditures are reflected in the Schedule of
Federal Expenditures (SEFA) in the year in which a project application is obligated. The Schedule
thus includes $39,399,739 of expenditures incurred in Fiscal years 2020, 2021 and 2022, which
were obligated in fiscal year 2024 and represents a reconciling item between the federal expenses
in Mass General Brigham’s financial statements and the amount included on the Schedule.