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Nonprofiteer
← NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC

Form 990 for tax year 2022

Filed by NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC.

Totals

Total revenue
$1,345,809
Total expenses
$1,331,349
Contributions and grants received
$514,827
Grants paid
$240,555
Program service revenue
$140,668
Investment income
$690,314
Other revenue
$0
Total assets, end of year
$21,133,016
Total liabilities, end of year
$1,463,940
Net assets or fund balances, end of year
$19,669,076
Program services expenses (Part IX)
$1,230,484
Management and general expenses
$20,012
Fundraising expenses
$80,853
Program service expenses (Part III)
$1,230,484

Program services were 92.4% 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.

  • 1e · Government grants (contributions)

    $1,800

  • 1f · All other contributions, gifts and grants

    $513,027

  • 2a · Program service revenue: CONTRACT REVENUE

    total $107,650 · related or exempt $107,650

  • 2b · Program service revenue: TUITION

    total $28,671 · related or exempt $28,671

  • 2c · Program service revenue: SERVICE FEE INCOME

    total $3,271 · unrelated business $3,271

  • 2d · Program service revenue: OTHER PSA REVENUE

    total $1,076 · related or exempt $1,076

  • 3 · Investment income

    total $712,431 · excluded $712,431

  • 7a · Gross sales of assets other than inventory

    securities $1,162,087

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

    securities $1,184,204

  • 7c · Gain or loss

    securities -$22,117

  • 7d · Net gain or loss

    total -$22,117 · related or exempt -$22,117

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $240,555 · program services $240,555

  • 5 · Compensation of officers, directors and key employees

    total $360,425 · program services $334,148 · management and general $4,065 · fundraising $22,212

  • 7 · Other salaries and wages

    total $184,701 · program services $171,235 · management and general $2,083 · fundraising $11,383

  • 9 · Other employee benefits

    total $54,542 · program services $50,566 · management and general $615 · fundraising $3,361

  • 10 · Payroll taxes

    total $33,159 · program services $30,741 · management and general $375 · fundraising $2,043

  • 11a · Fees: management

    total $165,613 · program services $165,613

  • 11c · Fees: accounting

    total $16,143 · program services $11,070 · management and general $2,445 · fundraising $2,628

  • 13 · Office expenses

    total $16,274 · program services $13,116 · management and general $2,836 · fundraising $322

  • 14 · Information technology

    total $51,971 · program services $28,000 · fundraising $23,971

  • 16 · Occupancy

    total $28,000 · program services $28,000

  • 17 · Travel

    total $22,854 · program services $19,647 · management and general $103 · fundraising $3,104

  • 22 · Depreciation, depletion and amortization

    total $1,907 · management and general $1,907

  • 23 · Insurance

    total $17,405 · program services $17,405

  • 24a · Other expenses: PROGRAM EDUCATIONAL EXP

    total $119,894 · program services $110,600 · management and general $407 · fundraising $8,887

  • 24b · Other expenses: ADMIN SERVICES NCMS

    total $4,800 · management and general $4,800

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $4,681 · program services $4,144 · fundraising $537

  • 24d · Other expenses: TELEPHONE

    total $3,560 · program services $3,029 · fundraising $531

  • 24e · All other expenses

    total $4,865 · program services $2,615 · management and general $376 · fundraising $1,874

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,857,302 · end of year $4,414,442

  • 3 · Pledges and grants receivable

    beginning of year $28,000 · end of year $30,000

  • 4 · Accounts receivable

    beginning of year $9,000 · end of year $11,365

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

    $30,400

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

    $25,850

  • 10c · Land, buildings and equipment, net

    beginning of year $6,457 · end of year $4,550

  • 11 · Investments: publicly traded securities

    beginning of year $21,248,717 · end of year $16,672,659

  • 17 · Accounts payable and accrued expenses

    beginning of year $369,065 · end of year $532,526

  • 18 · Grants payable

    beginning of year $1,027,264 · end of year $921,214

  • 19 · Deferred revenue

    beginning of year $12,000 · end of year $10,200

  • 27 · Net assets without donor restrictions

    beginning of year $385,425 · end of year $408,416

  • 28 · Net assets with donor restrictions

    beginning of year $23,355,722 · end of year $19,260,660

Mission and programs · 2022

Mission

TO IMPROVE ACCESS TO QUALITY HEALTHCARE FOR ALL NORTH CAROLINIANS.

  • THE WORKFORCE RECRUITMENT AND RETENTION PROGRAM INCLUDES THE COMMUNITY PRACTITIONER PROGRAM (CPP. THE MAIN PURPOSE IS TO IMPROVE ACCESS TO CARE FOR PATIENTS LIVING IN RURAL AND/OR UNDER-SERVED AREAS OF NORTH CAROLINA. THE CPP RECRUITS AND RETAINS PRIMARY CARE PROVIDERS AS WELL AS GENERAL SURGEONS AND PSYCHIATRISTS THROUGH THE PROVISION OF EDUCATIONAL LOAN REPAYMENT AS WELL AS PRACTICE MANAGEMENT AND CLINICAL QUALITY SERVICES. CPP WORKS IN CONCERT WITH ADDITIONAL WORKFORCE EFFORTS THROUGHOUT THE STATE TO ASSESS HEALTH CARE WORKFORCE NEEDS AND PLAN STRATEGICALLY IN ORDER TO ASSURE A QUALITY PHYSICIAN WORKFORCE FOR UNDER-SERVED PATIENTS AND COMMUNITIES.

    Expenses $577,054 · Grants $240,555

  • LEADERSHIP DEVELOPMENT INITIATIVES FALL UNDER THE UMBRELLA OF THE KANOF INSTITUTE FOR PHYSICIAN LEADERSHIP (KIPL). KIPL'S MAIN PURPOSE IS TO PREPARE PHYSICIANS TO LEAD IN AN EVOLVING HEALTH CARE SYSTEM. KIPL OPERATES 2 EDUCATION PROGRAMS INCLUDING THE NCMS LEADERSHIP COLLEGE AND HEALTH CARE LEADERSHIP AND MANAGEMENT AND CUSTOMIZED TRAINING FOR PRACTICES SEEKING MORE INDIVIDUALIZED LEARNING.

    Expenses $335,619 · Revenue $140,668

  • OUR COMMUNITY HEALTH INITIATIVE ENDEAVORS TO FORM A COALITION THAT FOSTERS SINGLE SOURCE COLLABORATION BETWEEN COMMUNITY BASED ORGANIZATIONS (CBO'S) CURRENTLY PROVIDING SERVICES THAT IMPROVE HEALTH, WITH LOCAL HEALTHCARE PROVIDERS AND SOCIAL SUPPORT NETWORKS.

    Expenses $138,910

  • OTHER PROGRAMS INCLUDE PROJECT OFFICE BASED OPIOID TREATMENT, PHYSICIAN WELLNESS, DISASTER RELIEF, AND RURAL ACCOUNTABLE CARE ORGANIZATION INITIATIVE.

    Expenses $178,901

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

Listed in Part VII

  • Hurshell E Baggett Jr

    CEO

    Total calculated
    $349,429
    From this org
    $0
    From related orgs
    $300,841
    Other
    $48,588
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    not reported + $300,000 related
    Bonus
    not reported + $841 related
    Other
    not reported
    Deferred
    not reported + $12,080 related
    Nontaxable benefits
    not reported + $36,508 related
    Filer's total
    not reported + $349,429 related

  • Kristina Natt Och Dag

    VP OF EDUCAT

    Total calculated
    $183,918
    From this org
    $163,927
    From related orgs
    $0
    Other
    $19,991
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,927
    Bonus
    not reported
    Other
    not reported
    Deferred
    $6,560
    Nontaxable benefits
    $13,431
    Filer's total
    $183,918

  • Franklin Walker

    VP OF SOLUTI

    Total calculated
    $176,507
    From this org
    $156,832
    From related orgs
    $0
    Other
    $19,675
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,000
    Bonus
    $832
    Other
    not reported
    Deferred
    $6,240
    Nontaxable benefits
    $13,435
    Filer's total
    $176,507

  • Arthur E Apolinario

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Marc R Carruth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Palmer Edwards

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Cynthia Gary

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Roy Strowd III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lyndon K Jordan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rachel D Keever

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew S Lamb

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Katie Lowry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Connette McMahon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jason Newton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kelly A Pring

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Timothy Reeder

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Osi Udekwu

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Utecht

    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. 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

  • 3 · Compensation committee
  • 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
  • 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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202313119349303681

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