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Nonprofiteer
← MEDICAL ASSOCIATION OF GEORGIA FOUNDATION INC

Form 990 for tax year 2023

Filed by MEDICAL ASSOCIATION OF GEORGIA FOUNDATION INC.

Totals

Total revenue
$4,143,823
Total expenses
$744,969
Contributions and grants received
$3,928,939
Grants paid
$0
Program service revenue
$16,250
Investment income
$106,845
Other revenue
$91,789
Total assets, end of year
$2,700,928
Total liabilities, end of year
$1,519,979
Net assets or fund balances, end of year
$1,180,949
Program services expenses (Part IX)
$689,727
Management and general expenses
$55,242
Fundraising expenses
$0
Program service expenses (Part III)
$689,727

Program services were 92.6% 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.

  • 1f · All other contributions, gifts and grants

    $3,928,939

  • 2a · Program service revenue: REGISTRATION FEES

    total $16,250 · related or exempt $16,250

  • 3 · Investment income

    total $106,845 · unrelated business -$25,234 · excluded $132,079

  • 11a · Other revenue: REFUND OF SEC 170 ANNU

    total $73,467 · excluded $73,467

  • 11b · Other revenue: REIMBURSEMENTS, REFUND

    total $18,322 · excluded $18,322

  • 11e · Other revenue, total

    $91,789

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $4,104 · management and general $4,104

  • 11f · Fees: investment management

    total $26,834 · management and general $26,834

  • 11g · Fees: other

    total $163,602 · program services $139,298 · management and general $24,304

  • 13 · Office expenses

    total $110 · program services $110

  • 17 · Travel

    total $9,137 · program services $9,137

  • 19 · Conferences, conventions and meetings

    total $67,946 · program services $67,946

  • 24a · Other expenses: ANNUITY EXPENSE FOR ANN

    total $452,736 · program services $452,736

  • 24b · Other expenses: BAD DEBTS

    total $20,500 · program services $20,500

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $410,308 · end of year $392,433

  • 2 · Savings and temporary cash investments

    beginning of year $130,054 · end of year $167,582

  • 3 · Pledges and grants receivable

    beginning of year $34,500

  • 11 · Investments: publicly traded securities

    beginning of year $5,279,514 · end of year $1,502,963

  • 15 · Other assets

    beginning of year $260,115 · end of year $637,950

  • 17 · Accounts payable and accrued expenses

    beginning of year $107,877

  • 18 · Grants payable

    beginning of year $20,000 · end of year $20,000

  • 19 · Deferred revenue

    beginning of year $19,500 · end of year $19,500

  • 25 · Other liabilities

    beginning of year $8,308,894 · end of year $1,480,479

  • 27 · Net assets without donor restrictions

    beginning of year -$2,649,532 · end of year $927,143

  • 28 · Net assets with donor restrictions

    beginning of year $307,752 · end of year $253,806

Mission and programs · 2023

Mission

THE MISSION OF THE MAG FOUNDATION IS TO ADVANCE POSITIVE HEALTH OUTCOMES FOR GEORGIANS BY PROMOTING INFORMATION ABOUT MEDICAL CARE AND THE SYSTEMS THAT DELIVER IT.

Activities or mission (Part I)

THE FOUNDATION IS A PUBLIC CHARITY ENABLING GEORGIA PHYSICIANS TO SUPPORT AND ENGAGE IN CHARITABLE AND EDUCATIONAL PROJECTS AFFECTING MEDICINE AND PUBLIC HEALTH.

  • THE GPLA IS A FOUNDATION PROGRAM DESIGNED TO PROVIDE A LEADERSHIP EXPERIENCE BENEFITING AND EDUCATING PHYSICIANS WHO WANT TO IMPROVE HEALTH CARE DELIVERY FOR THEIR PATIENTS, COMMUNITIES, AND THE MEDICAL PROFESSION. EACH PARTICIPANT ATTENDS OVER A ONE-YEAR PERIOD SIX SESSIONS COMPRISED OF INTERACTIVE CLASSES ENABLING THE STUDENTS TO ENHANCE THEIR LEADERSHIP SKILLS AND DEVELOP CONTINUING RELATIONSHIPS WITH COLLEAGUES.

    Expenses $689,727 · Revenue $16,250

As filed on the 2023 return.

Listed in Part VII

  • Jack M Chapman MD

    PRES. & TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John S Antalis MD

    VP & TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Steven M Walsh MD

    SEC/TREAS. & TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Uma Jonnalagadda MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William E Silver MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Harvey MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Charles Wilmer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Randy Frank Rizor MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • Tom Emerson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Jeremy Bonfini

    EXECUTIVE DIRECTOR

    Total calculated
    $333,050
    From this org
    $0
    From related orgs
    $323,300
    Other
    $9,750
    Hours/week
    10 + 57.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $323,300 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,750 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $333,050 related

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

None.

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
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443239349300149

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