Title: Federal Student Loan Programs
Accounting Policies: 1. OrganizationMass General Brigham Incorporated (the Company) is the parent organization and sole corporatemember of numerous organizations whose financial condition and operations are described in theconsolidated financial statements. The terms Mass General Brigham, We, Our or Us as usedherein, unless otherwise stated or indicated by context, refer collectively to the Company and itsaffiliated organizations.Mass General Brigham operates academic medical centers, community acute care hospitals,inpatient and outpatient mental health services facilities, urgent care centers, facilities that providerehabilitation 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 provideworld class health care services to the local communities in which we operate as well as to patientsacross the United States and the world. In addition, we are a nonuniversity-based non-profitprivate medical research enterprise and a principal teaching affiliate of the medical and dentalschools of Harvard University. Our licensed, not-for-profit managed care organization (AllWaysHealth Partners, Inc.) and licensed, for-profit insurance company (AllWays Health PartnersInsurance Company) (collectively referred to as AllWays Health) provide health insurance productsand administrative services to the Massachusetts Medicaid program (MassHealth), ConnectorCare(a state subsidized program for adults who meet income and immigration guidelines) andcommercial populations.Summary of Significant Accounting PoliciesBasis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes theFederal award activity of Mass General Brigham and is recorded on the accrual basis ofaccounting.The information in the Schedule is presented in accordance with Title 2 U.S. Code of FederalRegulations (CFR) 200 Uniform Administrative Requirements Cost Principles and AuditRequirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in theSchedule may differ from amounts presented in or used in the preparation of the basicconsolidated financial statements. Negative amounts represent adjustments to amounts reportedas 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 combinesexpenditures of The Brigham and Womens Hospital, Inc., The General Hospital Corporation d/b/aThe Massachusetts General Hospital (MGH), Massachusetts Eye and Ear Infirmary, including TheSchepens Eye Research Institute, Inc., The McLean Hospital Corporation, The MGH Institute ofHealth Professions, Inc., The Spaulding Rehabilitation Hospital Corporation, including SpauldingHospital Cambridge, Inc. and Spaulding Nursing and Therapy Center Brighton, Inc., CooleyDickinson Hospital, Inc., North Shore Medical Center d/b/a Salem Hospital, Newton-WellesleyHospital, Brigham and Womens Faulkner Hospital, Inc., Marthas Vineyard Hospital, Inc. includingWNR, Inc., Nantucket Cottage Hospital, Mass General Brigham Community Physicians, Inc.,Wentworth-Douglass Hospital, and Mass General Brigham. These entities are all affiliates of MassGeneral Brigham.The Schedule includes grant activity related to the Department of Health and Human Services(HHS) Coronavirus Aid Relief and Economic Security (CARES) Act Assistance ListingNumber 93.498. The grant activity associated with this Assistance Listing Number includes lostrevenues and direct expenditures reported for Period 2 on March 31, 2022 and Period 3 on 9/30/22as required by HHS.**Continued on Additional Note - Note 1: Organization**
De Minimis Rate Used: Both
Rate Explanation: Federal expenditures for Research and Development and Research and Development Training forBrigham and Womens Hospital, Massachusetts General Hospital, McLean, Massachusetts Eyeand Ear Infirmary, Schepens Eye Research Institute, Spaulding Rehabilitation Hospital and theMGH Institute of Health Professions include facilities and administrative cost recoveries and fringebenefit cost recoveries in the amounts reported in the Schedule based on rates negotiated andawarded with the DHHS Division of Cost Allocation. These rates are based on financial informationsubmitted utilizing the methods prescribed in Principles for Determining Costs Applicable toResearch and Development Under Grants and Contracts with Hospitals, contained in the Code ofFederal Regulation, Title 45, Part 74, Appendix E (OASC-3). The predetermined facilities andadministrative cost rates for IHP are based on financial information submitted utilizing the simplifiedmethod for small institutions prescribed in Indirect (F&A) Costs Identification and Assignment, andRate Determination for Institutions of Higher Education (IHEs), contained in the Code of FederalRegulation, Title 2, Part 200, Appendix III. Expenditures reported in Training and Other include themaximum facilities and administrative recoveries approved by the sponsor. The 10% de-minimisrate is not utilized on Research and Development or Research and Development Training by MassGeneral Brigham because they have approved negotiated rate agreements. The 10% de-minimisrate is used for Other awards where allowed.
The amounts reported in the Student Financial Aid Cluster of the Schedule represent the beginningbalances and newly issued loans in fiscal year 2022. As of September 30, 2022, the MGH Instituteof Health Professions (IHP) had loans outstanding of $137,708 for loans issued as part of theNurse Faculty Loan Program (ALN 93.264). On May 9, 2022 IHP received approval from HHS towrite off the remaining balance of $20,201 in the ARRA - Nurse Faculty Loan Program(ALN 93.408). Therefore, the remaining loan balance of that program is zero at September 30,2022. IHP had Direct Loans issued by the Department of Education of $40,589,330 as ofSeptember 30, 2022 for ALN 84.268.
Title: Note 1: Organization - Continued
Accounting Policies: 1. OrganizationMass General Brigham Incorporated (the Company) is the parent organization and sole corporatemember of numerous organizations whose financial condition and operations are described in theconsolidated financial statements. The terms Mass General Brigham, We, Our or Us as usedherein, unless otherwise stated or indicated by context, refer collectively to the Company and itsaffiliated organizations.Mass General Brigham operates academic medical centers, community acute care hospitals,inpatient and outpatient mental health services facilities, urgent care centers, facilities that providerehabilitation 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 provideworld class health care services to the local communities in which we operate as well as to patientsacross the United States and the world. In addition, we are a nonuniversity-based non-profitprivate medical research enterprise and a principal teaching affiliate of the medical and dentalschools of Harvard University. Our licensed, not-for-profit managed care organization (AllWaysHealth Partners, Inc.) and licensed, for-profit insurance company (AllWays Health PartnersInsurance Company) (collectively referred to as AllWays Health) provide health insurance productsand administrative services to the Massachusetts Medicaid program (MassHealth), ConnectorCare(a state subsidized program for adults who meet income and immigration guidelines) andcommercial populations.Summary of Significant Accounting PoliciesBasis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes theFederal award activity of Mass General Brigham and is recorded on the accrual basis ofaccounting.The information in the Schedule is presented in accordance with Title 2 U.S. Code of FederalRegulations (CFR) 200 Uniform Administrative Requirements Cost Principles and AuditRequirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in theSchedule may differ from amounts presented in or used in the preparation of the basicconsolidated financial statements. Negative amounts represent adjustments to amounts reportedas 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 combinesexpenditures of The Brigham and Womens Hospital, Inc., The General Hospital Corporation d/b/aThe Massachusetts General Hospital (MGH), Massachusetts Eye and Ear Infirmary, including TheSchepens Eye Research Institute, Inc., The McLean Hospital Corporation, The MGH Institute ofHealth Professions, Inc., The Spaulding Rehabilitation Hospital Corporation, including SpauldingHospital Cambridge, Inc. and Spaulding Nursing and Therapy Center Brighton, Inc., CooleyDickinson Hospital, Inc., North Shore Medical Center d/b/a Salem Hospital, Newton-WellesleyHospital, Brigham and Womens Faulkner Hospital, Inc., Marthas Vineyard Hospital, Inc. includingWNR, Inc., Nantucket Cottage Hospital, Mass General Brigham Community Physicians, Inc.,Wentworth-Douglass Hospital, and Mass General Brigham. These entities are all affiliates of MassGeneral Brigham.The Schedule includes grant activity related to the Department of Health and Human Services(HHS) Coronavirus Aid Relief and Economic Security (CARES) Act Assistance ListingNumber 93.498. The grant activity associated with this Assistance Listing Number includes lostrevenues and direct expenditures reported for Period 2 on March 31, 2022 and Period 3 on 9/30/22as required by HHS.**Continued on Additional Note - Note 1: Organization**
De Minimis Rate Used: Both
Rate Explanation: Federal expenditures for Research and Development and Research and Development Training forBrigham and Womens Hospital, Massachusetts General Hospital, McLean, Massachusetts Eyeand Ear Infirmary, Schepens Eye Research Institute, Spaulding Rehabilitation Hospital and theMGH Institute of Health Professions include facilities and administrative cost recoveries and fringebenefit cost recoveries in the amounts reported in the Schedule based on rates negotiated andawarded with the DHHS Division of Cost Allocation. These rates are based on financial informationsubmitted utilizing the methods prescribed in Principles for Determining Costs Applicable toResearch and Development Under Grants and Contracts with Hospitals, contained in the Code ofFederal Regulation, Title 45, Part 74, Appendix E (OASC-3). The predetermined facilities andadministrative cost rates for IHP are based on financial information submitted utilizing the simplifiedmethod for small institutions prescribed in Indirect (F&A) Costs Identification and Assignment, andRate Determination for Institutions of Higher Education (IHEs), contained in the Code of FederalRegulation, Title 2, Part 200, Appendix III. Expenditures reported in Training and Other include themaximum facilities and administrative recoveries approved by the sponsor. The 10% de-minimisrate is not utilized on Research and Development or Research and Development Training by MassGeneral Brigham because they have approved negotiated rate agreements. The 10% de-minimisrate is used for Other awards where allowed.
Mass General Brigham conducted COVID-19 testing and/or provided treatment for uninsuredindividuals with a COVID-19 primary diagnosis and as such has requested claims reimbursementunder Assistance Listing Number 93.461 Health Resources and Services Administration's("HRSA") COVID Testing for Uninsured. On March 15, 2022, HRSA announced that the uninsuredprogram would no longer accept claims for payment of COVID-19 testing due to lack of sufficientfunds. Any adjustments to amounts recorded for fiscal year 2021 claims based on actual cashreceipts are reflected in the fiscal year 2022 Schedule.