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Nonprofiteer
← SOUTH DAKOTA STATE MEDICAL ASSOCIATION FOUNDATION

Form 990 for tax year 2022

Filed by SOUTH DAKOTA STATE MEDICAL ASSOCIATION FOUNDATION.

Totals

Total revenue
$335,867
Total expenses
$147,178
Contributions and grants received
$60,036
Grants paid
$87,350
Program service revenue
$7,262
Investment income
$268,569
Other revenue
$0
Total assets, end of year
$5,464,460
Total liabilities, end of year
$24,956
Net assets or fund balances, end of year
$5,439,504
Program services expenses (Part IX)
$87,350
Management and general expenses
$59,828
Fundraising expenses
$0
Program service expenses (Part III)
$87,350

Program services were 59.3% 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

    $60,036

  • 2a · Program service revenue: MEDICAL STUDENT LOAN INTEREST

    total $7,262 · related or exempt $7,262

  • 3 · Investment income

    total $104,193 · related or exempt $52,347 · excluded $51,846

  • 7a · Gross sales of assets other than inventory

    securities $649,106 · other assets $132,552

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

    securities $617,282

  • 7c · Gain or loss

    securities $31,824 · other assets $132,552

  • 7d · Net gain or loss

    total $164,376 · related or exempt $31,824 · excluded $132,552

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $87,350 · program services $87,350

  • 11a · Fees: management

    total $51,091 · management and general $51,091

  • 11c · Fees: accounting

    total $4,808 · management and general $4,808

  • 11g · Fees: other

    total $420 · management and general $420

  • 12 · Advertising and promotion

    total $290 · management and general $290

  • 13 · Office expenses

    total $3,219 · management and general $3,219

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $52,002 · end of year $70,391

  • 2 · Savings and temporary cash investments

    beginning of year $237,550 · end of year $159,330

  • 7 · Other notes and loans receivable

    beginning of year $67,476 · end of year $52,196

  • 11 · Investments: publicly traded securities

    beginning of year $6,128,444 · end of year $5,181,293

  • 15 · Other assets

    beginning of year $8,125 · end of year $1,250

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,518 · end of year $24,956

  • 27 · Net assets without donor restrictions

    beginning of year $3,459,321 · end of year $2,940,977

  • 28 · Net assets with donor restrictions

    beginning of year $3,006,758 · end of year $2,498,527

Mission and programs · 2022

Mission

TO AID AND SUPPORT MEDICAL RESEARCH, TEACHING AND EDUCATION.

Activities or mission (Part I)

TO AID AND SUPPORT MEDICAL RESEARCH, TEACHING AND EDUCATION. THE FOUNDATION GRANTS STUDENT SPONSORSHIPS TO THOSE PURSUING A MEDICAL EDUCATION AND GRANTS MONIES TO THE UNIVERSITY OF SOUTH DAKOTA SANFORD SCHOOL OF MEDICINE TO MATCH GRANTS RECEIVED.

  • ANNUAL SCHOLARSHIPS PRESENTED TO THE USD SANFORD SCHOOL OF MEDICINE STUDENTS.

    Expenses $87,350 · Grants $87,350

  • REVOLVING LOAN FUND

    Revenue $7,262

  • MATCHING PORTION OF SCHOLARSHIPS BY SDSMA FOUNDATION

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Barb Smith

    CEO OF SDSMA

    Total calculated
    $0

  • Mary J Milroy MD

    CHAIRPERSON

    Total calculated
    $0

  • Lucio Margallo II

    VICE CHAIRPE

    Total calculated
    $0

  • Jennifer Tinguely MD

    SECRETARY/TR

    Total calculated
    $0

  • Scott Boyens MD

    DIRECTOR

    Total calculated
    $0

  • Jennifer May MD

    DIRECTOR

    Total calculated
    $0

  • Brian Wilson MD

    DIRECTOR

    Total calculated
    $0

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 October 2023
IRS schema version
2022v5.0
Source object
202342919349301204

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