Waterbury Medical Association Inc
- Assets
- $1.9m
- Revenue
- $59.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomfield, CT
- Founding
- 05/1948
- Data as of
- 12/2022
- EIN
- 06-6025659
Organization Overview
Waterbury Medical Association Inc is located in Bloomfield, CT. The organization was established in 1948. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waterbury Medical Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Waterbury Medical Association Inc generated $59.1k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $66.3k during the year ending 12/2022. While expenses have increased by 3.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSES OF THIS ASSOCIATION ARE TO DEVISE AND EFFECT MEASURES FOR THE SCIENTIFIC AND EDUCATIONAL ADVANCEMENT OF THE MEMBERS OF SAID ASSOCIATION, TO PROMOTE A GOOD UNDERSTANDING AND HARMONIOUS RELATIONSHIP AMONG THE MEMBERS, AND TO AID THE DEVELOPMENT OF BETTER HEALTH IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION WORKED FOR THE SCIENTIFIC AND EDUCATIONAL ADVANCEMENT OF ITS MEMBERS, PROMOTED A GOOD UNDERSTANDING AND HARMONIOUS RELATIONSHIP AMONG THE MEMBERS, AND AIDED THE DEVELOPMENT OF BETTER HEALTH IN THE COMMUNITY THROUGH VARIOUS MEETINGS AND PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Finn MD President | OfficerTrustee | 0.5 | $0 |
Andrea Needleman MD President Elect | OfficerTrustee | 0.5 | $0 |
Salvatore Ferrante MD Secretary | OfficerTrustee | 0.5 | $0 |
Stephen Torrey MD Treasurer | OfficerTrustee | 0.5 | $0 |
Neil F Schiff MD Immediate Past President | Trustee | 0.5 | $0 |
Stephen Torrey MD Past President At Large | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $19,766 |
| Investment income | $39,287 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $59,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,595 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $33,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,525 |
| Fees for services: Lobbying | $6,227 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,328 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $82 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,326 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,157 |
| All other expenses | $2,033 |
| Total functional expenses | $66,273 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,178 |
| Savings and temporary cash investments | $55,064 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,838,473 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,938,715 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $6,700 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,700 |
| Net assets without donor restrictions | $1,932,015 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,938,715 |