Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $200,000

• 1e · Government grants (contributions)

  $200,000

• 1f · All other contributions, gifts and grants

  $841,294

• 3 · Investment income

  total $815 · excluded $815

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $1,459 · related or exempt $1,459

• 11e · Other revenue, total

  $1,459

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $200,000 · program services $200,000

• 2 · Grants to domestic individuals

  total $53,470 · program services $53,470

• 11b · Fees: legal

  total $416 · management and general $416

• 11c · Fees: accounting

  total $18,500 · management and general $18,500

• 13 · Office expenses

  total $501 · management and general $501

• 16 · Occupancy

  total $2,656 · management and general $2,656

• 22 · Depreciation, depletion and amortization

  total $22 · management and general $22

• 23 · Insurance

  total $3,332 · management and general $3,332

• 24a · Other expenses: PCMH CONTRACT EXPENSE

  total $439,976 · program services $439,976

• 24b · Other expenses: CHARITABLE GIFT ANNUITY

  total $226,509 · program services $226,509

• 24c · Other expenses: RECRUITING EXPENSE

  total $4,754 · program services $4,754

• 24d · Other expenses: ANNUAL AWARDS

  total $3,400 · program services $3,400

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $963,466 · end of year $1,219,831

• 2 · Savings and temporary cash investments

  beginning of year $100,714 · end of year $100,865

• 4 · Accounts receivable

  beginning of year $282,321 · end of year $46,883

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,633 · end of year $3,847

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

  $14,675

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

  $14,532

• 10c · Land, buildings and equipment, net

  beginning of year $165 · end of year $143

• 12 · Investments: other securities

  beginning of year $1,760,248 · end of year $1,661,063

• 17 · Accounts payable and accrued expenses

  beginning of year $273,413 · end of year $307,297

• 19 · Deferred revenue

  beginning of year $85,970 · end of year $65,925

• 25 · Other liabilities

  beginning of year $8,466,309 · end of year $8,071,973

• 27 · Net assets without donor restrictions

  beginning of year -$6,362,753 · end of year -$6,062,173

• 28 · Net assets with donor restrictions

  beginning of year $645,608 · end of year $649,610

The filer's explanations (Part III)

PART I, LINE 3

THE FOUNDATION RECEIVES MANAGEMENT SERVICES FROM THE SOUTH CAROLINA MEDICAL ASSOCIATION. THE FOUNDATION DOES NOT PAY FOR THESE SERVICES NOR DIRECTLY DETERMINES THE COMPENSATION OF THE OFFICERS. THE SOUTH CAROLINA MEDICAL ASSOCIATION EXECUTIVE COMMITTEE FOLLOWS A REBUTTABLE PRESUMPTION PROCESS INVOLVING THE USE OF COMPENSATION EXPERTS, OPINIONS, AND SURVEY DATA TO CONFIRM THAT THE COMPENSATION PAID IS REASONABLE AND CONSISTENT WITH FAIR MARKET VALUE. THE SOUTH CAROLINA MEDICAL ASSOCIATION OFFICERS AND KEY EMPLOYEES' COMPENSATION IS DETERMINED BASED ON ANNUAL REVIEWS. COMPENSATION IS DOCUMENTED AND APPROVED THROUGH THE ORGANIZATION'S BUDGET. FOR GENERAL SALARY EVALUATIONS MANAGEMENT HAS ACCESS TO AND USES MARKET STUDIES PROVIDED BY ORGANIZATIONS SUCH AS AMA & AAMSE.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• SCMA PRACTICE MANAGEMENT SERVICES INC

  C · PHYSICIAN PRACTICE MGMT SERVICES · SC

  Directly controlled by SCMA

• FULCRUM RISK SOLUTIONS INC

  C · GENERAL INSURANCE AGENCY · SC

  Directly controlled by SCMA