Dana-Farber Cancer Institute

CharityWatch's rating of Dana-Farber Cancer Institute also includes the financial activities of the Dana-Farber Cancer Care Network and the other entities consolidated in the Institute's audited financial statements for the fiscal year ended September 30, 2024. Intercompany balances and transactions have been eliminated in the audit consolidation.

According to the Dana-Farber Cancer Institute consolidated audit of September 30, 2024 (Note 12c, Charity Care) [$s in thousands, as indicated below]:

"The Institute provides care without charge or at amounts less than established rates to patients who meet certain criteria under the Institute’s charity care policies. Because the Institute does not pursue collection of amounts determined to qualify as charity care, they are not reported as revenue. During the years ended September 30, 2024 and 2023, the Institute provided charity care of [$58,049,000] and [$40,840,000] respectively, at standard charges. The cost of this charity care was [$21,393,000] and [$15,272,000]. In addition, the Institute had net payments to the Commonwealth of Massachusetts “health safety net” of [$11,045,000] and [$8,021,000] for the years ended September 30, 2024 and 2023, respectively. The equivalent percentage of charity care patients to all patients served was approximately 0.8% in 2024 and 0.6% in 2023. Such amounts and percentages are determined using foregone charges based on established rates. The cost of charity care is estimated using the cost-to-charge ratio for the Institute.

According to the Dana-Farber Cancer Institute tax filing for the fiscal year ended September 30, 2024, the Institute reports re: Loans to and/or from Interested Persons "Housing" loans made to two employees: Melany Duval and Kevin Haigis. The original principal amounts of the loans are $150,000 and $100,000, respectively. The balances due of the loans are $63,750 and $55,834, respectively. Additionally, the Institute reports a "Tuition Assistance" loan to Jennifer Willcox. The original principal amount and balance due are $73,000 and $72,392, respectively. The three loans are reported as not in default, have a written agreement, and were approved "by board or committee" (IRS Form 990, Schedule L, Part II).

According to the Dana-Farber Cancer Institute tax filing for the fiscal year ended September 30, 2024, the Institute reports re: Compensation, Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (IRS Form 990, Schedule J, Part II):

The Institute reports providing "bonus & incentive compensation" to 17 individuals during 2023. Laurie H. Glimcher, M.D., President & CEO, received $540,784 of bonus and incentive compensation with total reported compensation of $2,459,825. The remaining 16 individuals received between $33,279 to $270,701, with total reported compensation ranging from $446,303 to $1,349,728.