Form 990 for tax year 2022
Filed by MASSACHUSETTS MEDICAL BENEVOLENT SOCIETY.
Totals
- Total revenue
- $316,751
- Total expenses
- $180,080
- Contributions and grants received
- $132,006
- Grants paid
- $112,680
- Program service revenue
- $0
- Investment income
- $184,745
- Other revenue
- $0
- Total assets, end of year
- $6,589,470
- Total liabilities, end of year
- $7,227
- Net assets or fund balances, end of year
- $6,582,243
- Program services expenses (Part IX)
- $136,512
- Management and general expenses
- $43,568
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $136,512
Program services were 75.8% 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
$132,006
-
3 · Investment income
total $122,600 · excluded $122,600
-
7a · Gross sales of assets other than inventory
securities $230,866
-
7b · Less cost or other basis and sales expenses
securities $168,721
-
7c · Gain or loss
securities $62,145
-
7d · Net gain or loss
total $62,145 · related or exempt $62,145
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $112,680 · program services $112,680
-
11c · Fees: accounting
total $4,700 · management and general $4,700
-
24a · Other expenses: PROFESSIONAL FEES
total $23,832 · program services $23,832
-
24b · Other expenses: INVESTMENT MGT FEES
total $20,082 · management and general $20,082
-
24c · Other expenses: POSTAGE AND PRINTING
total $11,707 · management and general $11,707
-
24d · Other expenses: CONSULTING SERVICES
total $5,000 · management and general $5,000
-
24e · All other expenses
total $2,079 · management and general $2,079
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $307,457 · end of year $270,422
-
11 · Investments: publicly traded securities
beginning of year $4,897,079 · end of year $5,167,401
-
15 · Other assets
beginning of year $1,146,885 · end of year $1,151,647
-
17 · Accounts payable and accrued expenses
beginning of year $6,270 · end of year $2,127
-
18 · Grants payable
beginning of year $10,000 · end of year $5,100
-
27 · Net assets without donor restrictions
beginning of year $4,299,153 · end of year $4,535,835
-
28 · Net assets with donor restrictions
beginning of year $2,035,998 · end of year $2,046,408
Mission and programs · 2022
Mission
SEE SCHEDULE OMASSACHUSETTS MEDICAL BENEVOLENT SOCIETY (THE "SOCIETY") IS A NOT-FOR-PROFIT ORGANIZATION ESTABLISHED IN MARCH 1857 TO PROVIDE FINANCIAL ASSISTANCE TO MEMBERS OF THE MEDICAL PROFESSION, THEIR WIDOWS AND THEIR CHILDREN. THE MISSION OF THE MMBS IS TO SUPPORT THE RECOVERY AND REHABILITATION OF THE MA PHYSICIANS AND THEIR FAMILIES FROM PERSONAL, PROFESSIONAL OR FINANCIAL CRISIS, BY PROVIDING TIME-TARGETED FINANCIAL ASSISTANCE. THE SOCIETY'S COLLEGIAL OUTREACH HELPS MEMBERS OF THE MEDICAL FAMILY HOLD TO THEIR POTENTIAL AS VALUED MEMBERS OF THE PROFESSION AND THE COMMUNITY.
Activities or mission (Part I)
MASSACHUSETTS MEDICAL BENEVOLENT SOCIETY (THE "SOCIETY") IS A NOT-FOR-PROFIT ORGANIZATIONESTABLISHED IN MARCH 1857 TO PROVIDE FINANCIAL ASSISTANCE TO MEMBERS OF THE MEDICAL PROFESSION.
-
THE SOCIETY PROVIDES DIRECT ASSISTANCE IN THE FORM OF FINANCIAL AND OTHER ASSISTANCE TO INDIVIDUALS ON "NEED BASE" ASSESSMENT THAT IS DETERMINED BY PROFESSIONAL SOCIAL WORKERS AND APPROVED BY THE BOARD OF TRUSTEES. CRITERIA OF NEED ASSESSMENT IS BASED ON AN EVALUATION OF EACH INDIVIDUAL CASE AND A REVIEW OF THE CIRCUMSTANCE THAT LED TO THE REQUEST FOR ASSISTANCE.
Expenses $112,680 · Grants $112,680
-
SERVICES OF SOCIAL WORKERS TO EVALUATE THE FINANCIAL AND SOCIAL NEEDS OF INDIVIDUALS THAT HAVE BEEN REFERRED TO THE SOCIETY AS A POTENTIAL BENEFICIARY.
Expenses $23,832
As filed on the 2022 return.
Listed in Part VII
-
RONALD W DUNLAP MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
MARILYN PRICE MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
DEAN NICASTRO ESQ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
MATT HITRON MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
M DONNA YOUNGER MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
MARCIA FRANKLIN MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
CHARLES A WELCH MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
MARK A ROCKOFF MD
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
AMY E VINSON MD
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
DENNIS DIMITRI MD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
DONNA NORRIS MD
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
DANIA ALI-AHMAD MD
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
LISA I IEZZONI MD
TRUSTEE
- 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 16 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202440479349301704
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