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Nonprofiteer
← MEDICAL SOCIETY OF S C

Form 990 for tax year 2024

Filed by MEDICAL SOCIETY OF S C.

Totals

Total revenue
$17,721,491
Total expenses
$7,416,734
Contributions and grants received
$51,771
Grants paid
$451,675
Program service revenue
$0
Investment income
$12,542,417
Other revenue
$5,127,303
Total assets, end of year
$701,647,063
Total liabilities, end of year
$76,616,382
Net assets or fund balances, end of year
$625,030,681
Program services expenses (Part IX)
$6,650,133
Management and general expenses
$766,601
Fundraising expenses
$0
Program service expenses (Part III)
$6,650,133

Program services were 89.7% 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.

  • 1b · Membership dues

    $51,771

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $6,168,169 · excluded $6,168,169

  • 6a · Gross rents

    real property $5,126,515

  • 6c · Rental income or loss

    real property $5,126,515 · personal property $0

  • 6d · Net rental income or loss

    total $5,126,515 · related or exempt $5,126,515

  • 7a · Gross sales of assets other than inventory

    securities $6,374,248

  • 7c · Gain or loss

    securities $6,374,248 · other assets $0

  • 7d · Net gain or loss

    total $6,374,248 · excluded $6,374,248

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $788 · excluded $788

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $788

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $451,675 · program services $451,675

  • 5 · Compensation of officers, directors and key employees

    total $522,959 · program services $418,367 · management and general $104,592

  • 7 · Other salaries and wages

    total $36,023 · management and general $36,023

  • 8 · Pension plan contributions

    total $8,841 · program services $6,811 · management and general $2,030

  • 10 · Payroll taxes

    total $24,051 · program services $18,528 · management and general $5,523

  • 11b · Fees: legal

    total $235,897 · management and general $235,897

  • 11c · Fees: accounting

    total $77,020 · management and general $77,020

  • 11f · Fees: investment management

    total $241,023 · management and general $241,023

  • 11g · Fees: other

    total $42,073 · program services $0 · management and general $42,073 · fundraising $0

  • 13 · Office expenses

    total $104,220 · program services $104,220

  • 14 · Information technology

    total $7,772 · program services $7,772

  • 16 · Occupancy

    total $40,251 · program services $40,251

  • 19 · Conferences, conventions and meetings

    total $120,427 · program services $120,427

  • 20 · Interest

    total $2,940,534 · program services $2,940,534

  • 22 · Depreciation, depletion and amortization

    total $2,439,703 · program services $2,439,703

  • 23 · Insurance

    total $56,049 · program services $33,629 · management and general $22,420

  • 24a · Other expenses: Electronic Health Record

    total $68,216 · program services $68,216

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $9,119,109 · end of year $6,554,376

  • 4 · Accounts receivable

    beginning of year $436,224 · end of year $428,040

  • 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

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

    $95,288,028

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

    $24,779,813

  • 10c · Land, buildings and equipment, net

    beginning of year $72,947,918 · end of year $70,508,215

  • 11 · Investments: publicly traded securities

    beginning of year $215,173,647 · end of year $237,116,571

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $310,593,510 · end of year $387,039,861

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,637,867 · end of year $1,634,461

  • 20 · Tax-exempt bond liabilities

    beginning of year $77,175,190 · end of year $74,981,921

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $529,457,351 · end of year $625,030,681

Mission and programs · 2024

Mission

See Schedule O.

Activities or mission (Part I)

TO IMPROVE THE HEALTH OF OUR COMMUNITY THROUGH CLINICAL EXCELLENCE.

  • - INCOME IS DESIGNATED FOR THE CONTINUING SUPPORT OF THE ROPER ST. FRANCES HEALTHCARE MISSION IN THE COMMUNITY. - THE MEDICAL SOCIETY OF SC PARTICIPATES IN GRANT MAKING PROGRAMS IN THE COMMUNITY WHICH PROVIDE FUNDING TO BE USED TOWARDS EDUCATION IN THE MEDICAL FIELD. - IN ADDITION, THE MEDICAL SOCIETY PROVIDES FUNDING FOR UPGRADES AND IMPROVEMENTS TO THE HOSPITAL SYSTEM. - LASTLY, THE MEDICAL SOCIETY PROCURES AND CONSTRUCTS PROPERTIES WHICH ARE UTILIZED BY THE HOSPITAL SYSTEM TO FURTHER ITS MISSION TO HEAL ALL PEOPLE WITH COMPASSION, FAITH, AND EXCELLENCE

    Expenses $6,650,133 · Grants $451,675 · Revenue $5,126,515

As filed on the 2024 return.

Listed in Part VII

  • JASON CURRY MD

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH SANFRANCESCO MD

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • RON TURNER MD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • BRYAN ASHLEY MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID M ELLISON MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HENRY C WEST MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 40 related

  • JOHN MITCHELL MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN SPRATT MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN WALTERS MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JULIUS IVESTER MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KAREN WRIGHTEN DR EDU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SCOTT WOODFIELD MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VALERIE SCOTT MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHARLES F RIVERS

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $542,586
    From this org
    $512,100
    From related orgs
    $0
    Other
    $30,486
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $437,100
    Bonus
    $75,000
    Other
    $0
    Deferred
    $27,900
    Nontaxable benefits
    $2,586
    Filer's total
    $542,586

  • MELISSA MCGUIRE

    SENIOR EXECUTIVE ASSISTANT

    Total calculated
    $92,203
    From this org
    $85,859
    From related orgs
    $0
    Other
    $6,344
    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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 7 Non-fixed payments
CHARLES F RIVERS 2024 COMPENSATION STATEMENT INCLUDES A BONUS OF $75,000. THE DETERMINATION OF THE BONUS AMOUNT WAS DISCRETIONARY.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SPE FAYSSOUX PROPERTIES LLC

    HOLDS RENTAL PROPERTIES & ADMINISTERS BOND FUNDS · SC · income $5,215,290 · assets $73,688,309

    Directly controlled by MEDICAL SOCIETY OF SOUTH CAROLINA

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.1
Source object
202523159349301647

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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