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Nonprofiteer
← WISCONSIN MEDICAL SOCIETY FOUNDATION INC

Form 990 for tax year 2022

Filed by WISCONSIN MEDICAL SOCIETY FOUNDATION INC.

Totals

Total revenue
$489,624
Total expenses
$778,358
Contributions and grants received
$350,458
Grants paid
$326,959
Program service revenue
$109,375
Investment income
$29,791
Other revenue
$0
Total assets, end of year
$12,590,792
Total liabilities, end of year
$99,723
Net assets or fund balances, end of year
$12,491,069
Program services expenses (Part IX)
$518,427
Management and general expenses
$175,808
Fundraising expenses
$84,123
Program service expenses (Part III)
$518,427

Program services were 66.6% 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

    $350,458

  • 2a · Program service revenue: STUDENT LOAN

    total $109,375 · related or exempt $109,375

  • 3 · Investment income

    total $233,771 · excluded $233,771

  • 7a · Gross sales of assets other than inventory

    securities $1,447,923

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

    securities $1,632,903 · other assets $19,000

  • 7c · Gain or loss

    securities -$184,980 · other assets -$19,000

  • 7d · Net gain or loss

    total -$203,980 · excluded -$203,980

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100,130 · program services $100,130

  • 2 · Grants to domestic individuals

    total $226,829 · program services $226,829

  • 5 · Compensation of officers, directors and key employees

    total $143,861 · program services $90,623 · management and general $53,238

  • 7 · Other salaries and wages

    total $69,141 · program services $12,581 · fundraising $56,560

  • 8 · Pension plan contributions

    total $5,304 · program services $2,570 · management and general $1,326 · fundraising $1,408

  • 9 · Other employee benefits

    total $16,036 · program services $7,770 · management and general $4,008 · fundraising $4,258

  • 10 · Payroll taxes

    total $14,062 · program services $6,813 · management and general $3,515 · fundraising $3,734

  • 11c · Fees: accounting

    total $31,561 · management and general $31,561

  • 11f · Fees: investment management

    total $52,434 · management and general $52,434

  • 12 · Advertising and promotion

    total $19,317 · program services $19,317

  • 13 · Office expenses

    total $9,775 · program services $2,732 · management and general $4,480 · fundraising $2,563

  • 14 · Information technology

    total $1,400 · management and general $1,400

  • 16 · Occupancy

    total $4,151 · program services $2,054 · management and general $971 · fundraising $1,126

  • 17 · Travel

    total $1,336 · program services $816 · management and general $520

  • 19 · Conferences, conventions and meetings

    total $1,742 · program services $334 · management and general $45 · fundraising $1,363

  • 22 · Depreciation, depletion and amortization

    total $786 · program services $389 · management and general $184 · fundraising $213

  • 23 · Insurance

    total $2,212 · program services $1,095 · management and general $517 · fundraising $600

  • 24a · Other expenses: PROFESSIONAL FEES

    total $78,241 · program services $44,374 · management and general $21,569 · fundraising $12,298

  • 24b · Other expenses: STAFF TRAINING

    total $40 · management and general $40

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $431,751 · end of year $528,481

  • 3 · Pledges and grants receivable

    beginning of year $800 · end of year $0

  • 4 · Accounts receivable

    beginning of year $6,062 · end of year $3,797

  • 7 · Other notes and loans receivable

    beginning of year $2,737,650 · end of year $2,911,335

  • 9 · Prepaid expenses and deferred charges

    beginning of year $130 · end of year $1,700

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

    $2,886

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

    $2,623

  • 10c · Land, buildings and equipment, net

    beginning of year $1,049 · end of year $263

  • 11 · Investments: publicly traded securities

    beginning of year $11,428,982 · end of year $8,954,384

  • 13 · Investments: program-related

    beginning of year $10,000 · end of year $10,000

  • 15 · Other assets

    beginning of year $255,665 · end of year $180,832

  • 17 · Accounts payable and accrued expenses

    beginning of year $81,376 · end of year $36,217

  • 25 · Other liabilities

    beginning of year $69,810 · end of year $63,506

  • 27 · Net assets without donor restrictions

    beginning of year $2,473,643 · end of year $2,015,176

  • 28 · Net assets with donor restrictions

    beginning of year $12,247,260 · end of year $10,475,893

Mission and programs · 2022

Mission

TO ADVANCE THE HEALTH OF THE PEOPLE OF WISCONSIN BY SUPPORTING MEDICAL EDUCATION AND HEALTH INITIATIVES.

Activities or mission (Part I)

TO ADVANCE THE HEALTH OF THE PEOPLE OF WISCONSIN BY SUPPORTING MEDICAL AND HEALTH EDUCATION.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $353,866 · Grants $232,459 · Revenue $109,375

  • MENTORING: THE FOUNDATION OFFERS TWO MENTORING PROGRAMS. THROUGH THE WHITE COAT CAMPAIGN, THE FOUNDATION PROVIDES A WHITE COAT FOR EACH FIRST-YEAR MEDICAL STUDENT ATTENDING SCHOOL IN WISCONSIN ALONG WITH A LETTER OF WELCOME AND ENCOURAGEMENT FROM A DONOR PHYSICIAN. A TOTAL OF 439 WHITE COATS WERE AWARDED IN 4 CEREMONIES FROM EARLY JULY TO LATE AUGUST. THE FOUNDATION ALSO OFFERS OPERATION: EDUCATION, A FUN AND EDUCATIONAL PROGRAM HELD AT BOTH MEDICAL SCHOOLS. THIS BRINGS TOGETHER MEDICAL STUDENTS AND PHYSICIANS TO ENGAGE IN CONVERSATIONS ABOUT SPECIALTY AND PRIMARY CARE OPTIONS AVAILABLE TO THEM.

    Expenses $30,743

  • PUBLIC HEALTH:-GRANTS PROGRAMTHE FOUNDATION'S GRANTS PROGRAM IS ADMINISTERED THROUGH THE GRANT COMMITTEE. APPLICATIONS ARE ACCEPTED AND GRANTS ARE AWARDED FOR COMMUNITY HEALTH EDUCATION AND RESEARCH INITIATIVES. GRANT RECIPIENTS ARE REQUIRED TO REPORT BACK TO THE FOUNDATION ON RESULTS AND USE OF THE GRANT FUNDS. IN 2022, THE FOUNDATION AWARDED 17 GRANTS FOR A TOTAL OF $70,000.-SUMMER FELLOWSHIP PROGRAMTHE FOUNDATIONS' GRANT COMMITTEE ALSO ADMINISTERS THE FOUNDATION'S SUMMER FELLOWSHIP PROGRAM THAT OFFERS MEDICAL STUDENTS OPPORTUNITIES TO GAIN VALUABLE, HANDS-ON EXPERIENCE IN COMMUNITY HEALTH EDUCATION OR RESEARCH DURING MEDICAL SCHOOL. SEVEN FELLOWSHIPS WERE AWARDED TOTALING $24,500 IN 2022.

    Expenses $133,818 · Grants $94,500

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Michael Flesher

    SECRETARY (AS OF 6/2022)

    Total calculated
    $224,702
    From this org
    $0
    From related orgs
    $206,455
    Other
    $18,247
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,455 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,379 related
    Nontaxable benefits
    $0 + $12,868 related
    Filer's total
    $0 + $224,702 related

  • Clyde Bud Chumbley MD

    PAST SECRETARY, DIRECTOR

    Total calculated
    $147,212
    From this org
    $0
    From related orgs
    $133,758
    Other
    $13,454
    Hours/week
    1 + 39 related

  • Elizabeth Ringle

    EXEC. DIRECTOR (AS OF 5/2022)

    Total calculated
    $91,437
    From this org
    $86,812
    From related orgs
    $0
    Other
    $4,625
    Hours/week
    37.5

  • Marje Murray

    EXEC. DIRECTOR (THRU 5/2022)

    Total calculated
    $52,424
    From this org
    $42,174
    From related orgs
    $0
    Other
    $10,250
    Hours/week
    37.5

  • Jose Ortiz MD

    PRESIDENT (AS OF 7/2022)

    Total calculated
    $0
    Hours/week
    1

  • David Galbis-Reig MD

    PAST PRESIDENT (THRU 7/2022)

    Total calculated
    $0
    Hours/week
    1

  • Noel Deep MD

    VICE PRESIDENT (AS OF 7/2022)

    Total calculated
    $0
    Hours/week
    1

  • Sarah Krolicki MD

    VP - PUBLIC HEALTH (AS OF 3/2022)

    Total calculated
    $0
    Hours/week
    1

  • Mark Westover

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Alyssa Daily Fleishman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ashley Anderson MD

    DIRECTOR (THRU 5/2022)

    Total calculated
    $0
    Hours/week
    1

  • Clarence Chou MD

    DIRECTOR (AS OF 5/2022)

    Total calculated
    $0
    Hours/week
    1

  • David K Falk MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jacklyn Gellings MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joel Charles MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kyle Cass

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Latisha Smith-Chase MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Pamela Wilson MD

    DIRECTOR (THRU 7/2022)

    Total calculated
    $0
    Hours/week
    1

  • Richard A Dart MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom O'Day JD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alicia C Arnold MD

    EX-OFFICIO MEMBER (THRU 4/2022)

    Total calculated
    $0
    Hours/week
    1

  • Don Lee MD

    EX-OFFICIO MEMBER (AS OF 4/2022)

    Total calculated
    $0
    Hours/week
    1

  • Wendy Molaska MD

    EX-OFFICIO MEMBER

    Total calculated
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

PART I, LINE 3
ALL COMPENSATION IS PAID BY WISCONSIN MEDICAL SOCIETY, INC. (FEIN 39-0634758), A RELATED ORGANIZATION EXEMPT UNDER IRC 501(C)(6), BUT THE FILING ORGANIZATION ESTABLISHES THE COMPENSATION FOR ITS EXECUTIVE DIRECTOR BASED ON COMPENSATION SURVEYS AND FORM 990 OF OTHER ORGANIZATIONS. THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS APPROVED BY THE BOARD OF DIRECTORS OF THE FILING ORGANIZATION.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303179349310805

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