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Nonprofiteer
← MOREHOUSE SCHOOL OF MEDICINE INC

Form 990 for tax year 2024

Filed by MOREHOUSE SCHOOL OF MEDICINE INC.

Totals

Total revenue
$318,398,057
Total expenses
$286,254,988
Contributions and grants received
$279,742,078
Grants paid
$8,036,742
Program service revenue
$31,251,643
Investment income
$3,230,019
Other revenue
$4,174,317
Total assets, end of year
$476,068,203
Total liabilities, end of year
$114,758,343
Net assets or fund balances, end of year
$361,309,860
Program services expenses (Part IX)
$192,527,823
Management and general expenses
$85,781,765
Fundraising expenses
$7,945,400
Program service expenses (Part III)
$192,527,823

Program services were 67.3% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $1,250,371

  • 1e · Government grants (contributions)

    $194,175,365

  • 1f · All other contributions, gifts and grants

    $84,316,342

  • 1g · Noncash contributions included above

    $1,025,602

  • 2a · Program service revenue: TUITION AND FEES

    total $31,251,643 · related or exempt $31,251,643 · unrelated business $0

  • 2b · Program service revenue

    total $0 · related or exempt $0

  • 2c · Program service revenue

    total $0 · related or exempt $0

  • 2d · Program service revenue

    total $0 · related or exempt $0

  • 2e · Program service revenue

    total $0 · related or exempt $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,202,049 · excluded $3,202,049

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0

  • 7a · Gross sales of assets other than inventory

    securities $28,222,860

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

    securities $28,194,890

  • 7c · Gain or loss

    securities $27,970 · other assets $0

  • 7d · Net gain or loss

    total $27,970 · related or exempt $0 · excluded $27,970

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0

  • 10a · Gross sales of inventory

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0

  • 11a · Other revenue: OTHER SOURCES

    total $4,174,317 · related or exempt $4,174,317

  • 11b · Other revenue

    total $0 · related or exempt $0

  • 11c · Other revenue

    total $0 · related or exempt $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $4,174,317

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $6,746,038 · program services $6,746,038

  • 3 · Grants to foreign organizations and individuals

    total $1,290,704 · program services $1,290,704

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $11,462,899 · program services $3,021,385 · management and general $8,405,983 · fundraising $35,531

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $139,688,875 · program services $115,292,439 · management and general $21,891,133 · fundraising $2,505,303

  • 8 · Pension plan contributions

    total $10,693,967 · program services $8,826,283 · management and general $1,675,889 · fundraising $191,795

  • 9 · Other employee benefits

    total $18,729,720 · program services $15,458,605 · management and general $2,935,200 · fundraising $335,915

  • 10 · Payroll taxes

    total $11,686,979 · program services $9,645,867 · management and general $1,831,507 · fundraising $209,605

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $1,571,328 · program services $56,275 · management and general $1,515,053 · fundraising $0

  • 11c · Fees: accounting

    total $339,714 · program services $4,000 · management and general $335,714

  • 11d · Fees: lobbying

    total $210,823 · management and general $210,823

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $261,485 · program services $0 · management and general $261,485 · fundraising $0

  • 11g · Fees: other

    total $123,203 · program services $0 · management and general $123,203 · fundraising $0

  • 12 · Advertising and promotion

    total $138,370 · program services $45,929 · management and general $70,916 · fundraising $21,525

  • 13 · Office expenses

    total $1,174,978 · program services $606,319 · management and general $504,473 · fundraising $64,186

  • 14 · Information technology

    total $600,775 · program services $300,693 · management and general $291,959 · fundraising $8,123

  • 15 · Royalties

    total $1,000,630 · program services $1,000,630

  • 16 · Occupancy

    total $4,428,490 · program services $67,355 · management and general $4,360,760 · fundraising $375

  • 17 · Travel

    total $3,928,446 · program services $2,746,834 · management and general $990,198 · fundraising $191,414

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

    total $2,180,527 · program services $1,203,900 · management and general $914,618 · fundraising $62,009

  • 20 · Interest

    total $266,470 · management and general $266,470

  • 21 · Payments to affiliates

    total $0 · program services $0

  • 22 · Depreciation, depletion and amortization

    total $9,517,558 · program services $244,774 · management and general $9,272,784 · fundraising $0

  • 23 · Insurance

    total $1,101,125 · program services $0 · management and general $1,101,125 · fundraising $0

  • 24a · Other expenses: CONSULTANTS

    total $13,187,216 · program services $6,241,135 · management and general $5,662,175 · fundraising $1,283,906

  • 24b · Other expenses: INDEPENDENT CONTRACTORS

    total $10,082,133 · program services $3,421,739 · management and general $6,346,549 · fundraising $313,845

  • 24c · Other expenses: SUBCONTRACTS

    total $7,558,730 · program services $5,102,704 · management and general $0 · fundraising $2,456,026

  • 24d · Other expenses: STUDENT SUPPORT

    total $1,433,325 · program services $1,433,325 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $26,850,480 · program services $9,770,890 · management and general $16,813,748 · fundraising $265,842

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,519,478 · end of year $2,908,037

  • 2 · Savings and temporary cash investments

    beginning of year $15,217,979 · end of year $10,876,240

  • 3 · Pledges and grants receivable

    beginning of year $11,497,070 · end of year $25,981,400

  • 4 · Accounts receivable

    beginning of year $57,337,030 · end of year $75,838,502

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $147,624 · end of year $144,021

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $292,208,220

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

    $114,152,295

  • 10c · Land, buildings and equipment, net

    beginning of year $163,527,179 · end of year $178,055,925

  • 11 · Investments: publicly traded securities

    beginning of year $141,109,085 · end of year $156,476,983

  • 12 · Investments: other securities

    beginning of year $378,115 · end of year $385,569

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $27,372,030 · end of year $25,401,526

  • 17 · Accounts payable and accrued expenses

    beginning of year $39,953,551 · end of year $36,534,765

  • 18 · Grants payable

    beginning of year $303,362 · end of year $303,362

  • 19 · Deferred revenue

    beginning of year $29,230,380 · end of year $36,027,146

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $16,266,470

  • 25 · Other liabilities

    beginning of year $27,456,487 · end of year $25,626,600

  • 27 · Net assets without donor restrictions

    beginning of year $126,592,122 · end of year $141,068,181

  • 28 · Net assets with donor restrictions

    beginning of year $194,569,688 · end of year $220,241,679

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

LEADING THE CREATION AND ADVANCEMENT OF HEALTH EQUITY WE EXIST TO IMPROVE THE HEALTH AND WELL-BEING OF INDIVIDUALS AND COMMUNITIES, INCREASE THE DIVERSITY OF THE HEALTH PROFESSIONAL AND SCIENTIFIC WORKFORCE, AND ADDRESS PRIMARY HEALTH CARE THROUGH PROGRAMS IN EDUCATION, RESEARCH AND SERVICE WITH EMPHASIS ON PEOPLE OF COLOR AND THE UNDERSERVED URBAN AND RURAL POPULATIONS IN GEORGIA, THE NATION, AND THE WORLD.

Activities or mission (Part I)

SEE PART III LINE 1 FOR MISSION AND SCHEDULE O FOR MOST SIGNIFICANT ACTIVITIES.

  • SEE SCHEDULE O, ORGANIZATION'S OVERVIEW, PART III, LINE 4A

    Expenses $192,527,823 · Grants $8,036,742 · Revenue $35,425,960

As filed on the 2024 return.

Listed in Part VII

  • Valerie Montgomery Rice MD

    President & CEO

    Total calculated
    $2,259,716
    From this org
    $1,310,000
    From related orgs
    $0
    Other
    $949,716
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $826,173
    Bonus
    $398,000
    Other
    $85,827
    Deferred
    $927,420
    Nontaxable benefits
    $22,296
    Filer's total
    $2,259,716

  • Aaron Dent

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Arthur R Collins

    Chairman of the Board

    Total calculated
    $0
    Hours/week
    0.5

  • Bonzo Reddick

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Camille Davis-Williams MD

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Carey Bayer EDD

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Claire Pomeroy MD MBA

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Douglas Love ESQ

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Glenn Mitchell III

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • John Whyte MD MPH

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Keana Murray

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Kimberly Evans Paige

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Lawrence V Jackson

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Lisa LeCointe-Cephas

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Marvin O'Quinn

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Neeraj Tolmare

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Sandy Gordon

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Susan Grant

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.5

  • Sylvester McRae MD ACOG

    Trustee

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Woodrow W McWilliams III MD

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Cynthia D Lubitz

    Chief People Officer

    Total calculated
    $412,384
    From this org
    $366,568
    From related orgs
    $0
    Other
    $45,816
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $296,739
    Bonus
    $69,829
    Other
    $0
    Deferred
    $24,150
    Nontaxable benefits
    $21,666
    Filer's total
    $412,384

  • Dorian Harriston

    SVP & Chief Marketing Officer

    Total calculated
    $411,454
    From this org
    $366,900
    From related orgs
    $0
    Other
    $44,554
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $303,330
    Bonus
    $63,570
    Other
    $0
    Deferred
    $22,257
    Nontaxable benefits
    $22,297
    Filer's total
    $411,454

  • Dr Richard H Snyder MD

    Prof and Chair Internal Medicine

    Total calculated
    $489,023
    From this org
    $442,685
    From related orgs
    $0
    Other
    $46,338
    Hours/week
    37.5 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $442,685
    Bonus
    $0
    Other
    $0
    Deferred
    $24,150
    Nontaxable benefits
    $22,188
    Filer's total
    $489,023

  • Ed Childs MD

    Professor of Surgery

    Total calculated
    $513,430
    From this org
    $500,000
    From related orgs
    $0
    Other
    $13,430
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $500,000
    Bonus
    $0
    Other
    $0
    Deferred
    $5,712
    Nontaxable benefits
    $7,718
    Filer's total
    $513,430

  • Joseph Adrian Tyndall MD

    EVP Health Affairs & Dean

    Total calculated
    $717,501
    From this org
    $665,000
    From related orgs
    $0
    Other
    $52,501
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $505,732
    Bonus
    $159,268
    Other
    $0
    Deferred
    $24,150
    Nontaxable benefits
    $28,351
    Filer's total
    $717,501

  • Kandy Ferree

    SVP OIA

    Total calculated
    $440,571
    From this org
    $385,050
    From related orgs
    $0
    Other
    $55,521
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $311,700
    Bonus
    $73,350
    Other
    $0
    Deferred
    $24,150
    Nontaxable benefits
    $31,371
    Filer's total
    $440,571

  • Katherine Napier PHD

    SVP Finance & CFO

    Total calculated
    $430,114
    From this org
    $385,560
    From related orgs
    $0
    Other
    $44,554
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $313,710
    Bonus
    $71,850
    Other
    $0
    Deferred
    $22,257
    Nontaxable benefits
    $22,297
    Filer's total
    $430,114

  • Michael A Rambert

    SVP & General Counsel

    Total calculated
    $443,839
    From this org
    $399,107
    From related orgs
    $0
    Other
    $44,732
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $324,634
    Bonus
    $74,473
    Other
    $0
    Deferred
    $24,150
    Nontaxable benefits
    $20,582
    Filer's total
    $443,839

  • Ricky A Kittles PHD

    Prof. and Sr Vice President for Research

    Total calculated
    $481,687
    From this org
    $436,390
    From related orgs
    $0
    Other
    $45,297
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $353,260
    Bonus
    $83,130
    Other
    $0
    Deferred
    $23,000
    Nontaxable benefits
    $22,297
    Filer's total
    $481,687

  • Sandra Harris-Hooker PhD

    Prof & SVP Innovation

    Total calculated
    $431,394
    From this org
    $394,215
    From related orgs
    $0
    Other
    $37,179
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $315,894
    Bonus
    $78,321
    Other
    $0
    Deferred
    $24,150
    Nontaxable benefits
    $13,029
    Filer's total
    $431,394

  • Walter L Douglas

    EVP Ops & Bus Affairs

    Total calculated
    $496,786
    From this org
    $446,658
    From related orgs
    $0
    Other
    $50,128
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $341,170
    Bonus
    $105,488
    Other
    $0
    Deferred
    $24,150
    Nontaxable benefits
    $25,978
    Filer's total
    $496,786

  • Errol D Crook MD

    Chief Medical Officer.Sr Assoc Dean

    Total calculated
    $542,294
    From this org
    $500,000
    From related orgs
    $0
    Other
    $42,294
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $500,000
    Bonus
    $0
    Other
    $0
    Deferred
    $20,000
    Nontaxable benefits
    $22,294
    Filer's total
    $542,294

  • John H Stewart MD

    Professor and Chairperson

    Total calculated
    $669,127
    From this org
    $615,000
    From related orgs
    $0
    Other
    $54,127
    Hours/week
    37.5 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $577,115
    Bonus
    $37,885
    Other
    $0
    Deferred
    $24,000
    Nontaxable benefits
    $30,127
    Filer's total
    $669,127

  • Patrica Ayoung-Chee MD

    Associate Professor of Surgery

    Total calculated
    $530,770
    From this org
    $499,513
    From related orgs
    $0
    Other
    $31,257
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $499,513
    Bonus
    $0
    Other
    $0
    Deferred
    $19,034
    Nontaxable benefits
    $12,223
    Filer's total
    $530,770

  • Roland Matthews MD

    Professor and Chair OB GYN

    Total calculated
    $593,964
    From this org
    $547,195
    From related orgs
    $0
    Other
    $46,769
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $547,195
    Bonus
    $0
    Other
    $0
    Deferred
    $24,150
    Nontaxable benefits
    $22,619
    Filer's total
    $593,964

  • Valentine Nfonsam MD

    Professor and Vice Chair Surgery

    Total calculated
    $546,397
    From this org
    $543,606
    From related orgs
    $0
    Other
    $2,791
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $543,606
    Bonus
    $0
    Other
    $0
    Deferred
    $2,055
    Nontaxable benefits
    $736
    Filer's total
    $546,397

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use
TYPE OF BENEFIT: HOUSING ALLOWANCE PERSON WHO RECEIVED THE BENEFIT: DR. MONTGOMERY RICE THE BENEFIT IS TREATED AS TAXABLE. THE AMOUNT IS $85,827.
Schedule J, Part II, Column (B)(iii) OTHER REPORTABLE COMPENSATION
THIS COLUMN INCLUDES THE FOLLOWING ITEMS: HOUSING ALLOWANCE, AUTO ALLOWANCE, VACATION PAYOUTS, EXECUTIVE SUPPLEMENTAL LIFE ALLOWANCE, ONE-TIME PAY, EXTRA DUTY PAY, RETROACTIVE PAY, AND ADJUSTMENTS TO PAY.
Schedule J, Part II, Column (C) RETIREMENT AND OTHER DEFERRED COMPENSATION
THIS COLUMN INCLUDES EMPLOYER PAID RETIREMENT BENEFIT CONTRIBUTIONS.
Schedule J, Part II, Column (D) NONTAXABLE BENEFITS
THIS COLUMN INCLUDES EMPLOYER PAID BASIC LIFE INSURANCE, BASIC AD&D COVERAGE, MEDICAL, DENTAL, AND VISION HEALTH BENEFITS.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MSM IMPACT LLC

    C Corporation · HEALTHCARE · GA · 100% owned · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by MSM

Provenance

Return type
form_990
Tax year
2024
Filed
2 March 2026
IRS schema version
2024v5.1
Source object
202620619349301312

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