Form 990 for tax year 2024

Filed by NORTH CAROLINA MEDICAL SOCIETY 203.

Totals

Total revenue: $11,310,691
Total expenses: $5,125,516
Contributions and grants received: $10,000
Grants paid: $13,000
Program service revenue: $5,137,909
Investment income: $6,185,735
Other revenue: -$22,953
Total assets, end of year: $22,868,865
Total liabilities, end of year: $5,410,357
Net assets or fund balances, end of year: $17,458,508
Program services expenses (Part IX): not reported
Management and general expenses: not reported
Fundraising expenses: not reported
Program service expenses (Part III): not reported

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

$10,000
2a · Program service revenue: MEMBERSHIP DUES

total $2,114,820 · related or exempt $2,114,820
2b · Program service revenue: SERVICE FEE REVENUE

total $1,529,447 · related or exempt $1,529,447
2c · Program service revenue: SPECIALTY & COUNTY SOCIETY SERVIC

total $629,550 · related or exempt $629,550
2d · Program service revenue: PRODUCT SERVICES REVENUE

total $503,995 · related or exempt $428,995 · excluded $75,000
2e · Program service revenue: MEETING REVENUE

total $167,785 · related or exempt $167,785
2f · All other program service revenue

total $192,312 · related or exempt $192,312
3 · Investment income

total $346,467 · excluded $346,467
6a · Gross rents

real property $216,759
6b · Less rental expenses

real property $239,712
6c · Rental income or loss

real property -$22,953
6d · Net rental income or loss

total -$22,953 · excluded -$22,953
7a · Gross sales of assets other than inventory

securities $2,944,517 · other assets $8,752,881
7b · Less cost or other basis and sales expenses

securities $2,695,984 · other assets $3,162,146
7c · Gain or loss

securities $248,533 · other assets $5,590,735
7d · Net gain or loss

total $5,839,268 · excluded $5,839,268

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $13,000
5 · Compensation of officers, directors and key employees

total $1,018,040
7 · Other salaries and wages

total $1,850,345
9 · Other employee benefits

total $441,656
10 · Payroll taxes

total $206,536
11b · Fees: legal

total $60,045
11d · Fees: lobbying

total $221,042
11f · Fees: investment management

total $19,866
11g · Fees: other

total $139,213
13 · Office expenses

total $65,342
14 · Information technology

total $216,964
17 · Travel

total $62,977
19 · Conferences, conventions and meetings

total $187,162
22 · Depreciation, depletion and amortization

total $241,902
23 · Insurance

total $14,511
24a · Other expenses: MEMBERSHIP DEVELOPMENT

total $70,901
24b · Other expenses: DELEGATES TO AMA

total $68,326
24c · Other expenses: TRAINING

total $65,693
24d · Other expenses: DUES & SUBSCRIPTIONS

total $45,651
24e · All other expenses

total $116,344

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $662,134 · end of year $1,651,475
2 · Savings and temporary cash investments

beginning of year $678,865 · end of year $2,856,644
4 · Accounts receivable

beginning of year $596,071 · end of year $484,817
7 · Other notes and loans receivable

beginning of year $0 · end of year $6,974,662
9 · Prepaid expenses and deferred charges

beginning of year $33,571 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$640,646
10b · Land, buildings and equipment: accumulated depreciation

$639,890
10c · Land, buildings and equipment, net

beginning of year $3,364,630 · end of year $756
11 · Investments: publicly traded securities

beginning of year $3,868,116 · end of year $5,568,795
12 · Investments: other securities

beginning of year $3,493,566 · end of year $1,374,529
15 · Other assets

beginning of year $0 · end of year $3,957,187
17 · Accounts payable and accrued expenses

beginning of year $504,812 · end of year $545,997
19 · Deferred revenue

beginning of year $951,966 · end of year $886,599
25 · Other liabilities

beginning of year $107,144 · end of year $3,977,761
27 · Net assets without donor restrictions

beginning of year $11,133,031 · end of year $17,458,508

Mission and programs · 2024

Mission

TO ORGANIZE MEMBERS OF THE MEDICAL PROFESSION TO ADVANCE MEDICAL SCIENCE.

THE OLDEST PROFESSIONAL ORGANIZATION WITHIN THE STATE. THE NORTH CAROLINA MEDICAL SOCIETY (NCMS) BEGAN IN 1849 WHEN 25 PHYSICIANS UNITED TO ADVANCE MEDICAL SCIENCE AND TO RAISE THE STANDARDS FOR THEIR PROFESSION. TODAY, WE ARE MORE THAN 10,000 STRONG AND CHAMPION THE SAME GOALS AND IDEALS WHILE REPRESENTING THE INTERESTS OF PHYSICIANS AND PROTECTING THE QUALITY OF PATIENT CARE.
THE NORTH CAROLINA MEDICAL SOCIETY EMPLOYEE BENEFIT PLAN (NCMS PLAN) IS THE ONLY STATEWIDE EMPLOYEE BENEFITS PLAN DESIGNED SPECIFICALLY FOR NORTH CAROLINA PHYSICIANS AS A BENEFIT OF SOCIETY MEMBERSHIP.

As filed on the 2024 return.

Listed in Part VII

Eileen RaynorEILEEN RAYNOR

MD, PRESIDENT

Total calculated

$0

Hours/week

0.5
John J Meier IV MDJOHN J MEIER IV MD

MD, PRESIDENT-ELECT

Total calculated

$0

Hours/week

0.5
Tracy Eskra MDTRACY ESKRA MD

MD, SECRETARY TREASURER

Total calculated

$0

Hours/week

0.5
Claude JarrettCLAUDE JARRETT

MD, REGION 1

Total calculated

$0

Hours/week

0.5
Charul HauganCHARUL HAUGAN

MD, REGION 2

Total calculated

$0

Hours/week

0.5
Karen SmithKAREN SMITH

MD, REGION 3

Total calculated

$0

Hours/week

0.5
Martin PalmeriMARTIN PALMERI

MD, REGION 4

Total calculated

$0

Hours/week

0.5
William FerrellWILLIAM FERRELL

MD, AT-LARGE

Total calculated

$0

Hours/week

0.5
Jugta KahaiJUGTA KAHAI

MD, AT-LARGE

Total calculated

$0

Hours/week

0.5
Bryant MurphyBRYANT MURPHY

MD, AT-LARGE

Total calculated

$0

Hours/week

0.5
Carl WestcottCARL WESTCOTT

MD, AT-LARGE

Total calculated

$0

Hours/week

0.5
Ronald B Laney JrRONALD B LANEY JR

MD, AT-LARGE

Total calculated

$0

Hours/week

0.5
Michelle LawsMICHELLE LAWS

CHIEF KNOWLEDGE OFFICER

Total calculated

$113,333

From this org

$113,333

From related orgs

$0

Other

$0

Hours/week

40 + 45 related
Evan SimmonsEVAN SIMMONS

CHIEF OF STAFF

Total calculated

$106,069

From this org

$99,988

From related orgs

$0

Other

$6,081

Hours/week

40 + 45 related
Ashley H RodriguezASHLEY H RODRIGUEZ

CHIEF LEGAL OFFICER

Total calculated

$191,996

From this org

$170,206

From related orgs

$0

Other

$21,790

Hours/week

40 + 45 related

Schedule J breakdown matched by us

Base

$160,206

Bonus

$10,000

Other

$0

Deferred

$7,599

Nontaxable benefits

$14,191

Filer's total

$191,996
Shawn ScottSHAWN SCOTT

IMMEDIATE PAST CEO

Total calculated

$184,023

From this org

$161,575

From related orgs

$0

Other

$22,448

Hours/week

40 + 45 related

Schedule J breakdown matched by us

Base

$156,575

Bonus

$5,000

Other

$0

Deferred

$7,599

Nontaxable benefits

$14,849

Filer's total

$184,023
Hurschell E Baggett JrHURSCHELL E BAGGETT JR

CHIEF EXECUTIVE OFFICER

Total calculated

$395,866

From this org

$346,171

From related orgs

$0

Other

$49,695

Hours/week

50 + 45 related

Schedule J breakdown matched by us

Base

$311,171

Bonus

$35,000

Other

$0

Deferred

$13,847

Nontaxable benefits

$35,848

Filer's total

$395,866
Franklin T WalkerFRANKLIN T WALKER

VICE PRESIDENT PRACTICE SOLUTIONS

Total calculated

$161,834

From this org

$141,170

From related orgs

$0

Other

$20,664

Hours/week

40 + 45 related

Schedule J breakdown matched by us

Base

$141,170

Bonus

$0

Other

$0

Deferred

$6,867

Nontaxable benefits

$13,797

Filer's total

$161,834
Larry CrawfordLARRY CRAWFORD

VICE PRESIDENT OF FINANCE

Total calculated

$158,529

From this org

$151,087

From related orgs

$0

Other

$7,442

Hours/week

40 + 45 related

Schedule J breakdown matched by us

Base

$150,000

Bonus

$1,000

Other

$87

Deferred

$6,043

Nontaxable benefits

$1,399

Filer's total

$158,529
Allan SkipperALLAN SKIPPER

VICE PRESIDENT LIAISON

Total calculated

$170,998

From this org

$151,133

From related orgs

$0

Other

$19,865

Hours/week

40 + 45 related

Schedule J breakdown matched by us

Base

$146,133

Bonus

$5,000

Other

$0

Deferred

$6,045

Nontaxable benefits

$13,820

Filer's total

$170,998
Ashley D NewtonASHLEY D NEWTON

VP, SOCIETIES MANAGEMENT

Total calculated

$173,521

From this org

$153,032

From related orgs

$0

Other

$20,489

Hours/week

40 + 45 related

Schedule J breakdown matched by us

Base

$153,032

Bonus

$0

Other

$0

Deferred

$6,369

Nontaxable benefits

$14,120

Filer's total

$173,521
John ThompsonJOHN THOMPSON

VICE PRESIDENT EXTERNAL AFFAIRS

Total calculated

$201,526

From this org

$179,728

From related orgs

$0

Other

$21,798

Hours/week

40 + 45 related

Schedule J breakdown matched by us

Base

$129,728

Bonus

$50,000

Other

$0

Deferred

$7,625

Nontaxable benefits

$14,173

Filer's total

$201,526

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

1a · Health or social club dues or initiation fees
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Form 990 of other organizations
3 · Written employment contract
3 · Compensation survey or study
3 · Approval by the board or compensation committee

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)

PART I, LINE 1A: HEALTH CLUB DUES ARE PROVIDED ON BEHALF OF THE ASSOCIATION EMPLOYEES. THESE DUES ARE NOT CONSIDERED TAXABLE TO THE RECIPIENT.

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 CENTER FOR INNOVATIVE POLICY

$10,000

TO FURTHER THE EXEMPT ORGANIZATION'S MISSION

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.

NORTH CAROLINA MEDICAL SOCIETY EMPLOYEE BENEFIT TRUST

501(C)9 · VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION · NC
NC MEDICAL SOCIETY FEDERAL POL ED & ACTION COMMITTEE

527(F) · POLITICAL ACTION COMMITTEE · NC · controlled entity

Directly controlled by NORTH CAROLINA MEDICAL SOCIETY
NC MEDICAL SOCIETY STATE POL ED & ACTION COMMITTEE

527(F) · POLITICAL ACTION COMMITTEE · NC · controlled entity

Directly controlled by NORTH CAROLINA MEDICAL SOCIETY
CITIZENS FOR A HEALTHLY NORTH CAROLINA

527(F) · POLITICAL FUND · NC · controlled entity

Directly controlled by NORTH CAROLINA MEDICAL SOCIETY

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.

MEDICAL SOCIETY SERVICES INC

C · SALES & SERVICES · NC · 100% owned

Provenance

Return type: form_990
Tax year: 2024
Filed: 7 November 2025
IRS schema version: 2024v5.2
Source object: 202533159349301538

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