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 nonprofit 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 the 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., Newton-Wellesley Hospital, Brigham and Women’s Faulkner Hospital, Inc., Martha’s Vineyard Hospital, Inc., Wentworth-Douglass Hospital, and Mass General Brigham Incorporated. These entities are all affiliates of Mass General Brigham.
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 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 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 2025. As of September 30, 2025, the MGH Institute of Health Professions (IHP) had loans outstanding of $30,769 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 $42,576,383 as of September 30, 2025 for ALN 84.268.