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← FOUNDATION OF THE PENNSYLVANIA MEDICAL SOCIETY

Form 990 for tax year 2022

Filed by FOUNDATION OF THE PENNSYLVANIA MEDICAL SOCIETY.

Totals

Total revenue
$3,182,138
Total expenses
$2,475,543
Contributions and grants received
$1,816,270
Grants paid
$92,000
Program service revenue
$1,243,912
Investment income
$121,956
Other revenue
$0
Total assets, end of year
$11,486,987
Total liabilities, end of year
$892,576
Net assets or fund balances, end of year
$10,594,411
Program services expenses (Part IX)
$1,887,404
Management and general expenses
$379,240
Fundraising expenses
$208,899
Program service expenses (Part III)
$1,887,404

Program services were 76.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $113,991

  • 1f · All other contributions, gifts and grants

    $1,702,279

  • 2a · Program service revenue: SPECIAL PROJECT INCOME

    total $1,082,498 · related or exempt $693,626 · unrelated business $388,872

  • 2b · Program service revenue: STUDENT LOAN INCOME

    total $161,414 · related or exempt $161,414

  • 3 · Investment income

    total $115,682 · related or exempt $115,682

  • 7a · Gross sales of assets other than inventory

    securities $6,274

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $6,274

  • 7d · Net gain or loss

    total $6,274 · related or exempt $6,274

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $92,000 · program services $92,000

  • 5 · Compensation of officers, directors and key employees

    total $81,862 · program services $81,862

  • 7 · Other salaries and wages

    total $1,081,373 · program services $839,904 · management and general $117,646 · fundraising $123,823

  • 9 · Other employee benefits

    total $412,033 · program services $238,069 · management and general $147,422 · fundraising $26,542

  • 10 · Payroll taxes

    total $92,952 · program services $71,084 · management and general $13,943 · fundraising $7,925

  • 11b · Fees: legal

    total $22,967 · management and general $22,967

  • 11c · Fees: accounting

    total $33,045 · management and general $33,045

  • 11g · Fees: other

    total $376,008 · program services $361,524 · management and general $9,336 · fundraising $5,148

  • 13 · Office expenses

    total $35,562 · program services $11,951 · management and general $909 · fundraising $22,702

  • 14 · Information technology

    total $35,400 · program services $29,273 · management and general $3,109 · fundraising $3,018

  • 16 · Occupancy

    total $51,834 · program services $42,504 · management and general $4,665 · fundraising $4,665

  • 17 · Travel

    total $21,689 · program services $18,819 · management and general $1,245 · fundraising $1,625

  • 19 · Conferences, conventions and meetings

    total $4,814 · program services $3,632 · management and general $888 · fundraising $294

  • 22 · Depreciation, depletion and amortization

    total $17,574 · program services $7,239 · management and general $10,335

  • 23 · Insurance

    total $63,193 · program services $48,119 · management and general $11,587 · fundraising $3,487

  • 24a · Other expenses: COMMUNICATIONS/PUBLICAT

    total $43,777 · program services $34,714 · management and general $411 · fundraising $8,652

  • 24b · Other expenses: DUES/LICENSES/SUBSCRIPT

    total $8,639 · program services $5,889 · management and general $1,732 · fundraising $1,018

  • 24c · Other expenses: BAD DEBT

    total $599 · program services $599 · management and general $0 · fundraising $0

  • 24d · Other expenses: MISCELLANEOUS

    total $222 · program services $222

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,227,730 · end of year $1,551,661

  • 4 · Accounts receivable

    beginning of year $85,144 · end of year $221,614

  • 7 · Other notes and loans receivable

    beginning of year $4,127,931 · end of year $4,042,876

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,049 · end of year $21,927

  • 10a · Land, buildings and equipment: cost or other basis

    $215,245

  • 10b · Land, buildings and equipment: accumulated depreciation

    $173,580

  • 10c · Land, buildings and equipment, net

    beginning of year $47,132 · end of year $41,665

  • 11 · Investments: publicly traded securities

    beginning of year $5,231,077 · end of year $4,406,634

  • 15 · Other assets

    beginning of year $1,233,161 · end of year $1,200,610

  • 17 · Accounts payable and accrued expenses

    beginning of year $865,387 · end of year $809,126

  • 19 · Deferred revenue

    beginning of year $97,019 · end of year $83,450

  • 25 · Other liabilities

    beginning of year $543,181 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $7,273,800 · end of year $7,857,607

  • 28 · Net assets with donor restrictions

    beginning of year $3,194,837 · end of year $2,736,804

Mission and programs · 2022

Mission

THE FOUNDATION OF THE PENNSYLVANIA MEDICAL SOCIETY PROVIDES PROGRAMS AND SERVICES FOR INDIVIDUAL PHYSICIANS AND OTHERS THAT IMPROVE THE WELL-BEING OF PENNSYLVANIANS AND SUSTAINS THE FUTURE OF MEDICINE.

Activities or mission (Part I)

SEE SCHEDULE O

  • PHYSICIANS' HEALTH PROGRAM (PHP) PROVIDES MONITORING SERVICES TO PENNSYLVANIA PHYSICIANS, PHYSICIAN ASSISTANTS, DENTISTS, AND OTHER ELIGIBLE LICENSED PROFESSIONALS AND TRAINEES WHO ARE EXPERIENCING ISSUES RELATED TO SUBSTANCE USE DISORDERS, MENTAL HEALTH OR OTHER BEHAVIORAL CONCERNS. PHP MONITORING ALLOWS FOR THE COLLECTION OF DOCUMENTATION TO MAKE SURE THAT PARTICIPANTS ARE HEALTHY AND CAN SAFELY PRACTICE THEIR CHOSEN PROFESSIONS. IN 2022, THE PHP RECEIVED 148 REFERRALS, AND MONITORED OVER 333 ACTIVE CASES

    Expenses $796,700 · Revenue $520,356

  • LIFEGUARD, A NATIONALLY RECOGNIZED PROGRAM, IS A VANGUARD FOR ADDRESSING CLINICAL COMPETENCY ASSESSMENT NEEDS FOR PHYSICIANS AND OTHER HEALTHCARE PROFESSIONALS. CONCEPTUALIZED BY DOCTORS FOR DOCTORS, LIFEGUARD PROVIDES COMPREHENSIVE ASSESSMENT SERVICES AND RECOMMENDATIONS FOR REMEDIATION TAILORED TO INDIVIDUAL NEEDS. THROUGH INDIVIDUALLY CUSTOMIZED PROGRAMS, LIFEGUARD PROVIDES AN UNBIASED ASSESSMENT OF PHYSICIAN CLINICAL PERFORMANCE WITH THE GOAL OF ENHANCING PATIENT SAFETY AND QUALITY OF CARE. SINCE INCEPTION, LIFEGUARD HAS SERVED PHYSICIANS IN 31 STATES AND THE DISTRICT OF COLUMBIA. IN 2022, 44 PHYSICIANS COMPLETED THEIR RESPECTIVE LIFEGUARD PATHWAY.

    Expenses $748,396 · Revenue $493,723

  • STUDENT FINANCIAL SERVICES EASES THE STRESS OF FUNDING A MEDICAL EDUCATION BY OFFERING SCHOLARSHIPS AND AFFORDABLE LOANS WITH PERSONALIZED CUSTOMER SERVICE TO PENNSYLVANIA RESIDENTS ATTENDING MEDICAL SCHOOL. THE STUDENT FINANCIAL SERVICES PROGRAM HELPS MEDICAL STUDENTS FULFILL THEIR DREAMS OF BECOMING PHYSICIANS. IN 2022, 40 LOANS TOTALING $549,613 AND 24 SCHOLARSHIPS TOTALING $92,000 WERE AWARDED. SINCE 1948, OVER $23 MILLION IN LOANS AND SCHOLARSHIPS HAVE BEEN AWARDED TO 4,786 STUDENTS.

    Expenses $142,368 · Revenue $161,530

  • OTHER PROGRAM SERVICES - INCLUDES SCHOLARSHIP FUNDS, AND OTHER SERVICES (BOOKKEEPING).

    Expenses $199,940 · Grants $92,000 · Revenue $68,303

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Virginia E Hall MD Facog Facp

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Paul F Dende Do Facp

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • William J West Jr MD

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Daniel B Kimball Jr MD Macp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Donna Baver Rovito

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Kenneth M Certa MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Gwendolyn A Poles Do Facp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Lynda Thomas-Mabine MD Facog

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • William R Dewar III MD Facp

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Martin P Raniowski Ma Cae Fcpp

    TRUSTEE

    Total calculated
    $362,381
    From this org
    $0
    From related orgs
    $293,704
    Other
    $68,677
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $293,704 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,381 related
    Nontaxable benefits
    $0 + $38,296 related
    Filer's total
    $0 + $362,381 related

  • Jacob Albers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Heather A Wilson Mswcfrecaefcpp

    SECRETARY & EXECUTIVE DIRE

    Total calculated
    $265,777
    From this org
    $64,802
    From related orgs
    $143,929
    Other
    $57,046
    Hours/week
    12 + 28 related

    Schedule J breakdown matched by us

    Base
    $64,802 + $143,929 related
    Bonus
    $0
    Other
    $0
    Deferred
    $6,480 + $15,120 related
    Nontaxable benefits
    $10,580 + $24,866 related
    Filer's total
    $81,862 + $183,915 related

  • John R Lawrence MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Heath Mackley MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Maria Poluch

    DIRECTOR - MEDICAL STUDENT TRUSTEE ELECT

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Marcia A Lammando RN Bsn Mhsa

    DIRECTOR, LIFEGUARD

    Total calculated
    $177,746
    From this org
    $143,566
    From related orgs
    $0
    Other
    $34,180
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,566
    Bonus
    $0
    Other
    $0
    Deferred
    $14,540
    Nontaxable benefits
    $19,640
    Filer's total
    $177,746

  • Annette M Weaver

    SENIOR DIRECTOR OF FINANCE & OPERATIONS

    Total calculated
    $151,012
    From this org
    $118,691
    From related orgs
    $0
    Other
    $32,321
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,691
    Bonus
    $0
    Other
    $0
    Deferred
    $12,381
    Nontaxable benefits
    $19,940
    Filer's total
    $151,012

  • Edwin Kim MD Php

    MEDICAL DIRECTOR

    Total calculated
    $130,431
    From this org
    $130,431
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
8 September 2023
IRS schema version
2022v5.0
Source object
202322569349300327

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