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Nonprofiteer
← FOUNDATION OF THE MINNESOTA MEDICAL ASSOCIATION

Form 990 for tax year 2023

Filed by FOUNDATION OF THE MINNESOTA MEDICAL ASSOCIATION.

Totals

Total revenue
$294,735
Total expenses
$190,647
Contributions and grants received
$201,140
Grants paid
$20,407
Program service revenue
$0
Investment income
$89,455
Other revenue
$4,140
Total assets, end of year
$1,969,476
Total liabilities, end of year
$34,665
Net assets or fund balances, end of year
$1,934,811
Program services expenses (Part IX)
$130,683
Management and general expenses
$59,964
Fundraising expenses
$0
Program service expenses (Part III)
$130,683

Program services were 68.5% 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

    $201,140

  • 3 · Investment income

    total $68,839 · excluded $68,839

  • 7a · Gross sales of assets other than inventory

    securities $85,496

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

    securities $64,880

  • 7c · Gain or loss

    securities $20,616

  • 7d · Net gain or loss

    total $20,616 · excluded $20,616

  • 8a · Fundraising events: gross income

    $4,140

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $4,140 · excluded $4,140

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,000 · program services $13,000

  • 2 · Grants to domestic individuals

    total $7,407 · program services $7,407

  • 7 · Other salaries and wages

    total $61,592 · program services $27,735 · management and general $33,857

  • 8 · Pension plan contributions

    total $3,197 · program services $1,440 · management and general $1,757

  • 9 · Other employee benefits

    total $404 · program services $182 · management and general $222

  • 10 · Payroll taxes

    total $4,185 · program services $1,884 · management and general $2,301

  • 13 · Office expenses

    total $1,355 · program services $500 · management and general $855

  • 24a · Other expenses: CONSULTING

    total $93,876 · program services $73,133 · management and general $20,743

  • 24b · Other expenses: STAFF BUSINESS EXPENSE

    total $5,606 · program services $5,402 · management and general $204

  • 24c · Other expenses: STATE FILING FEES

    total $25 · management and general $25

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $500,267 · end of year $377,827

  • 3 · Pledges and grants receivable

    beginning of year $34,300 · end of year $6,200

  • 11 · Investments: publicly traded securities

    beginning of year $1,436,659 · end of year $1,562,593

  • 15 · Other assets

    beginning of year $0 · end of year $22,856

  • 17 · Accounts payable and accrued expenses

    beginning of year $103,106 · end of year $17,603

  • 19 · Deferred revenue

    beginning of year $151,897 · end of year $17,062

  • 25 · Other liabilities

    beginning of year $4,200 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,186,316 · end of year $1,388,803

  • 28 · Net assets with donor restrictions

    beginning of year $525,707 · end of year $546,008

Mission and programs · 2023

Mission

THE FOUNDATION'S MISSION IS TO ADVANCE THE MMA'S MISSION TO BE THE LEADING VOICE OF MEDICINE, TO MAKE MINNESOTA THE HEALTHIEST STATE, AND THE BEST PLACE TO PRACTICE.

  • THE MMA FOUNDATION SUPPORTS THE MISSION OF THE MMA TO MAKE MINNESOTA THE HEALTHIEST STATE AND BEST PLACE TO PRACTICE. IT DEVELOPS AND PROMOTES INITIATIVES TO ACCOMPLISH ITS VISION OF PHYSICIANS LEADING EFFORTS TO ADVANCE OPTIMAL HEALTH AND HEALTH EQUITY FOR EACH INDIVIDUAL AND ALL COMMUNITIES. IN 2023, THE FOUNDATION AWARDED TWO COMMUNITY HEALTH GRANTS. ONE OF THESE COMMUNITY HEALTH GRANTS PROVIDED $5,000 FOR A PROJECT TO PROVIDE MEDICAL STUDENT FELLOWS WITH ADVOCACY-RELATED SKILLS DEVELOPMENT; THE SECOND PROVIDED $8,000 FOR RESEARCH AND SCRIPT DEVELOPMENT TO SUPPORT AN INITIATIVE TO INCREASE AND NORMALIZE CONVERSATIONS ABOUT DEATH AND DYING AND INCREASE THE NUMBER OF COMPLETED HEALTH CARE DIRECTIVES. THE FOUNDATION ALSO CONTINUED ITS SUPPORT FOR MEDICAL STUDENTS, RESIDENTS, AND FELLOWS BY PROVIDING SCHOLARSHIPS FOR THEIR COMMUNITY SERVICE AND RESEARCH. IN 2023, THE FOUNDATION DELIVERED $11,235 IN SCHOLARSHIP GRANTS. IN 2023, THE FOUNDATION CONTINUED ITS SUICIDE PREVENTION INITIATIVE BY FUNDING PHYSICIAN-LED TRAINING IN COUNSELING ON ACCESS TO LETHAL MEANS AND QUESTION-PERSUADE-REFER SUICIDE PREVENTION GATEKEEPER TRAINING TO MEDICAL ASSOCIATION MEMBERS ACROSS MINNESOTA.IN THE PAST YEAR, THE FOUNDATION ALSO SUPPORTED ITS PHYSICIAN VOLUNTEERISM PROGRAM, WHICH IS A RESOURCE THAT IDENTIFIES VOLUNTEER OPPORTUNITIES SPECIFICALLY FOR PHYSICIANS. THE PROGRAM GROWS OUT OF THE FOUNDATION'S DESIRE TO IMPROVE ACCESS TO CARE IN MEDICALLY UNDERSERVED URBAN AND RURAL COMMUNITIES AND CALLS UPON THE INTEREST IN COMMUNITY SERVICE HELD BY MOST PHYSICIANS.

    Expenses $130,683 · Grants $20,407

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JUAN BOWEN MD

    PAST-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • GEORGE SCHOEPHOERSTER MD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JANET SILVERSMITH

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN PALMQUIST MD

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • GEORGE LOHMER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MACARAN BAIRD MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID AGERTER MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ED EHLINGER MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VERNA THORNTON MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • FATIMA JIWA MBCHB

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KASEY JUSTESEN MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TIFFANY ONYEJIAKA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALEX ANTEZANA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GABRIELLE CUMMINGS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NICK JUNGBAUER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARILYN PEITSO MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KRISTEN GLOEGE

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $113,495
    From this org
    $0
    From related orgs
    $97,013
    Other
    $16,482
    Hours/week
    12.9 + 27.1 related

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

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
2023
Filed
31 October 2024
IRS schema version
2023v5.1
Source object
202423069349301332

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