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Nonprofiteer
← MICHIGAN STATE MEDICAL SOCIETY FOUNDATION

Form 990 for tax year 2022

Filed by MICHIGAN STATE MEDICAL SOCIETY FOUNDATION.

Totals

Total revenue
$346,432
Total expenses
$407,717
Contributions and grants received
$87,444
Grants paid
$83,766
Program service revenue
$252,243
Investment income
-$4,871
Other revenue
$11,616
Total assets, end of year
$1,245,016
Total liabilities, end of year
$168,052
Net assets or fund balances, end of year
$1,076,964
Program services expenses (Part IX)
$354,921
Management and general expenses
$52,796
Fundraising expenses
$0
Program service expenses (Part III)
$354,921

Program services were 87.1% 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

    $87,444

  • 2a · Program service revenue: EDUCATION FUND

    total $252,243 · related or exempt $252,243

  • 3 · Investment income

    total $24,750 · excluded $24,750

  • 7a · Gross sales of assets other than inventory

    securities $275,918

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

    securities $305,539

  • 7c · Gain or loss

    securities -$29,621

  • 7d · Net gain or loss

    total -$29,621 · excluded -$29,621

  • 11a · Other revenue: MISCELLANEOUS

    total $11,616 · related or exempt $11,616

  • 11e · Other revenue, total

    $11,616

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $83,766 · program services $83,766

  • 11a · Fees: management

    total $11,616 · management and general $11,616

  • 11c · Fees: accounting

    total $5,050 · management and general $5,050

  • 11f · Fees: investment management

    total $8,434 · management and general $8,434

  • 11g · Fees: other

    total $230,000 · program services $220,000 · management and general $10,000

  • 13 · Office expenses

    total $985 · management and general $985

  • 19 · Conferences, conventions and meetings

    total $51,155 · program services $51,155

  • 23 · Insurance

    total $1,923 · management and general $1,923

  • 24a · Other expenses: BANK FEES

    total $12,433 · management and general $12,433

  • 24b · Other expenses: BAD DEBT

    total $2,355 · management and general $2,355

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $421,164 · end of year $353,438

  • 4 · Accounts receivable

    beginning of year $49,705 · end of year $20,735

  • 12 · Investments: other securities

    beginning of year $869,218 · end of year $870,843

  • 17 · Accounts payable and accrued expenses

    beginning of year $100,646 · end of year $44,819

  • 19 · Deferred revenue

    beginning of year $157,594 · end of year $123,062

  • 25 · Other liabilities

    beginning of year $143 · end of year $171

  • 27 · Net assets without donor restrictions

    beginning of year $1,081,704 · end of year $1,076,964

Mission and programs · 2022

Mission

TO ADVANCE THE FIELD OF HEALTH FOR THE PUBLIC GOOD.

  • PROMOTING HEALTH EDUCATION PROJECTS THROUGHOUT THE STATE, AS WELL AS INCREASING PHYSICIAN AND PUBLIC AWARENESS OF THE FOUNDATION THROUGH ITS ANNUAL "MAKE A DIFFERENCE" INITIATIVE.

    Expenses $354,921 · Grants $83,766 · Revenue $263,859

As filed on the 2022 return.

Listed in Part VII

  • Rebecca Blake

    SECRETARY/MSMSF EXECUTIVE DIRECTOR

    Total calculated
    $168,431
    From this org
    $0
    From related orgs
    $135,373
    Other
    $33,058
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $131,729 related
    Bonus
    $0 + $400 related
    Other
    $0 + $3,244 related
    Deferred
    $0 + $9,449 related
    Nontaxable benefits
    $0 + $23,609 related
    Filer's total
    $0 + $168,431 related

  • Cheryl Gibson Fountain MD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Paul D Bozyk MD

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Debasish Mridha MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael W Smith MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Anita R Avery

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Theodore B Jones MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Donna Lake

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tom M George MD

    VICE PRESIDENT

    Total calculated
    $21,032
    From this org
    $0
    From related orgs
    $21,032
    Other
    $0
    Hours/week
    1 + 31 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. 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

None.

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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
THE COMPENSATION COMMITTEE AND BOARD OF DIRECTORS OF THE RELATED ORGANIZATION, MICHIGAN STATE MEDICAL SOCIETY, REVIEW THE CEO'S SALARY ANNUALLY. AN INDEPENDENT CEO SALARY SURVEY WAS COMPLETED IN AUGUST 2014. EVERY COUPLE OF YEARS, MSMS COMPARES THEIR SALARY STRUCTURE TO INDEPENDENT SALARY SURVEYS OF ASSOCIATIONS. MOST RECENTLY (JULY 2018) MSMS ENGAGED AN INDEPENDENT FIRM TO REVIEW THE OVERALL SALARY STRUCTURE.

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

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
2022
Filed
18 September 2024
IRS schema version
2022v5.0
Source object
202412639349300446

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