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← MASSACHUSETTS MEDICAL SOCIETY CHARITABLE & EDUCATIONAL FUND

Form 990 for tax year 2023

Filed by MASSACHUSETTS MEDICAL SOCIETY CHARITABLE & EDUCATIONAL FUND.

Totals

Total revenue
$153,087
Total expenses
$157,734
Contributions and grants received
$275
Grants paid
$0
Program service revenue
$151,273
Investment income
$0
Other revenue
$1,539
Total assets, end of year
$8,991,241
Total liabilities, end of year
$5,062,722
Net assets or fund balances, end of year
$3,928,519
Program services expenses (Part IX)
$131,774
Management and general expenses
$25,960
Fundraising expenses
$0
Program service expenses (Part III)
$131,774

Program services were 83.5% 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

    $275

  • 2a · Program service revenue: INTEREST ON STUDENT LO

    total $151,273 · related or exempt $151,273

  • 11a · Other revenue: MISC REVENUE

    total $1,539 · related or exempt $1,539

  • 11e · Other revenue, total

    $1,539

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $18,875 · management and general $18,875

  • 20 · Interest

    total $108,395 · program services $108,395

  • 24a · Other expenses: CREDIT CARD PROCESSING

    total $23,379 · program services $23,379

  • 24b · Other expenses: GENERAL & ADMINISTRATIV

    total $7,085 · management and general $7,085

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $733,708 · end of year $108,517

  • 4 · Accounts receivable

    beginning of year $8,279,852 · end of year $8,882,724

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,100

  • 25 · Other liabilities

    beginning of year $5,070,294 · end of year $5,062,722

  • 27 · Net assets without donor restrictions

    beginning of year $3,933,166 · end of year $3,928,519

Mission and programs · 2023

Mission

ISSUANCE OF LOW INTEREST LOANS TO THIRD AND FOURTH YEAR MEDICAL STUDENTS ENROLLED IN AN ACCREDITED MEDICAL SCHOOL IN THE COMMONWEALTH OF MASSACHUSETTS.

Activities or mission (Part I)

ISSUANCE OF MEDICAL STUDENT LOANS TO THIRD AND FOURTH YEAR STUDENTS ENROLLED IN AN ACCREDITED MEDICAL SCHOOL IN THE COMMONWEALTH OF MASSACHUSETTS.

  • IN FY24, THE C&E FUND ISSUED LOANS TO 65 QUALIFIED MEDICAL STUDENTS IN THE AMOUNT OF $ 970,000.

    Expenses $131,774 · Revenue $152,812

As filed on the 2023 return.

Listed in Part VII

  • Michele P Pugnaire MD

    CHAIR

    Total calculated
    $0
    Hours/week
    0.02

  • Ronald A Arky MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02

  • Archita Goyal

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02

  • Marie T Walsh Condon MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02

  • Lynda G Kabbash MD

    DIRECTOR

    Total calculated
    $25,000
    From this org
    $0
    From related orgs
    $25,000
    Other
    $0
    Hours/week
    0.02 + 12 related

  • Joseph D Feuerstein MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02

  • Thomas D Sequist MD MPH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02

  • Spiro Spanakis MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.02

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.

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.

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.

  • PHYSICIANS INSURANCE AGENCY

    C · INSURANCE · MA

Provenance

Return type
form_990
Tax year
2023
Filed
14 April 2025
IRS schema version
2023v6.0
Source object
202541049349300329

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