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Nonprofiteer
← CALIFORNIA MEDICAL ASSOCIATION PROPERTIES INC

Form 990 for tax year 2022

Filed by CALIFORNIA MEDICAL ASSOCIATION PROPERTIES INC.

Totals

Total revenue
$7,007,562
Total expenses
$2,939,937
Contributions and grants received
$0
Grants paid
$2,824,109
Program service revenue
$0
Investment income
$1,070,885
Other revenue
$5,936,677
Total assets, end of year
$21,481,310
Total liabilities, end of year
$15,017,252
Net assets or fund balances, end of year
$6,464,058
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% 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.

  • 3 · Investment income

    total $1,273,709 · related or exempt $0 · unrelated business $0 · excluded $1,273,709

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $3,526,931 · other assets $0

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

    securities $3,729,755 · other assets $0

  • 7c · Gain or loss

    securities -$202,824 · other assets $0

  • 7d · Net gain or loss

    total -$202,824 · related or exempt $0 · unrelated business $0 · excluded -$202,824

  • 11a · Other revenue: Affiliate Administrative Fees

    total $5,936,677 · related or exempt $0 · unrelated business $0 · excluded $5,936,677

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $5,936,677

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,824,109

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $104,401

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $11,417

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24e · All other expenses

    total $10

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $454,901 · end of year $283,045

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $37,500

  • 5 · Loans and receivables from officers and key people

    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 $5,300,000 · end of year $0

  • 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

  • 11 · Investments: publicly traded securities

    beginning of year $23,860,873 · end of year $19,746,299

  • 12 · Investments: other securities

    beginning of year $1,425,432 · end of year $1,414,466

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $172,527 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 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 $961,271

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $24,749,675 · end of year $14,055,981

  • 27 · Net assets without donor restrictions

    beginning of year $6,364,058 · end of year $6,364,058

  • 28 · Net assets with donor restrictions

    beginning of year $100,000 · end of year $100,000

Mission and programs · 2022

Mission

California Medical Association Properties, Inc. is a non-profit corporation whose principal function is to hold and invest funds on behalf of the California Medical Association, Inc. under the provision of IRS 501(c)(2).

Activities or mission (Part I)

The mission of the organization is to hold and invest funds on behalf of California Medical Association, a not-for-profit organization.

  • In 2022, CMA Properties provided general funds to the California Medical Association, a not-for-profit related organization, for the purpose of supporting programs and services offered by CMA to its members.

  • In 2022, CMA Properties, Inc. contributed $950,000 to the California Medical Association to support the Yes on 1 Campaign whose purpose was to protect abortions rights of the people. The objective was for the State Constitution to prohibit from denying or interfering with personal choices related to reproductive health care. Proposition 1 was to ensure abortions remain safe and legal and that important health care decisions are left to individuals and their provider with the backing of science and evidence based medicine.

  • CMA Properties, Inc. contributed $1.4 million to support the California Medical Association for the MICRA ballot initiative that would have eliminated MICRA's cap on non-economic damages. The battle resulted in a withdrawal of the Fairness for Injured Patients Act Initiative in 2022.

As filed on the 2022 return.

Listed in Part VII

  • Dustin E Corcoran

    Secretary Treasurer

    Total calculated
    $1,269,677
    From this org
    $0
    From related orgs
    $1,164,095
    Other
    $105,582
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $813,750 related
    Bonus
    $0 + $329,116 related
    Other
    $0 + $21,229 related
    Deferred
    $0 + $47,950 related
    Nontaxable benefits
    $0 + $57,632 related
    Filer's total
    $0 + $1,269,677 related

  • Lance R Lewis

    Chief Financial Officer

    Total calculated
    $679,241
    From this org
    $0
    From related orgs
    $573,659
    Other
    $105,582
    Hours/week
    2 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $402,536 related
    Bonus
    $0 + $150,000 related
    Other
    $0 + $21,123 related
    Deferred
    $0 + $47,950 related
    Nontaxable benefits
    $0 + $57,632 related
    Filer's total
    $0 + $679,241 related

  • Jamie Ostroff

    Assistant Secretary General Counsel

    Total calculated
    $401,829
    From this org
    $0
    From related orgs
    $387,114
    Other
    $14,715
    Hours/week
    1 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $344,255 related
    Bonus
    $0 + $40,000 related
    Other
    $0 + $2,860 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $14,715 related
    Filer's total
    $0 + $401,830 related

  • Robert E Wailes MD

    Immediate Past President through Oct 2023

    Total calculated
    $139,208
    From this org
    $0
    From related orgs
    $139,208
    Other
    $0
    Hours/week
    1 + 1 related

  • Donaldo Hernandez MD

    President

    Total calculated
    $131,348
    From this org
    $0
    From related orgs
    $131,348
    Other
    $0
    Hours/week
    1 + 1 related

  • Tanya W Spirtos MD

    President-Elect

    Total calculated
    $64,704
    From this org
    $0
    From related orgs
    $64,704
    Other
    $0
    Hours/week
    1 + 1 related

  • Shannon Udovic-Constant MD

    Chair Board of Trustees

    Total calculated
    $56,933
    From this org
    $0
    From related orgs
    $56,933
    Other
    $0
    Hours/week
    1 + 1 related

  • Peter Bretan MD

    Immediate Past President through Oct 2022

    Total calculated
    $53,974
    From this org
    $0
    From related orgs
    $53,974
    Other
    $0
    Hours/week
    1 + 1 related

  • Sergio R Flores MD

    Vice-Chair Board of Trustees

    Total calculated
    $40,242
    From this org
    $0
    From related orgs
    $40,242
    Other
    $0
    Hours/week
    1 + 1 related

  • Lawrence C Cheung MD

    Vice Speaker House of Delegates

    Total calculated
    $5,659
    From this org
    $0
    From related orgs
    $5,659
    Other
    $0
    Hours/week
    1 + 1 related

  • Jack Chou MD

    Speaker House of Delegates

    Total calculated
    $0
    Hours/week
    1 + 1 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

The filer's explanations (Part III)

Schedule J, Part II
The compensation of the officers and key employees of the California Medical Association is determined based on review of form 990s of other organization, written employment contract, compensation of study and approval of CMA's Executive Committee.

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343189349318109

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