Medical Letter Inc
- Assets
- $4.2m
- Revenue
- $4.6m
- Investments
- $1.7m
- Employees
- 23
- Location
- New Rochelle, NY
- Founding
- 07/1961
- Data as of
- 06/2022
- EIN
- 13-1881832
Organization Overview
Medical Letter Inc is located in New Rochelle, NY. The organization was established in 1961. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Medical Letter Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Letter Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Medical Letter Inc generated $4.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $4.3m during the year ending 06/2022. 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
PUBLICATION "THE MEDICAL LETTER", A NEWSLETTER DISTRIBUTED EVERY OTHER WEEK ON A SUBSCRIPTION BASIS TO VARIOUS PROFESSIONAL AND STUDENT GROUPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS AN EDUCATIONAL ORGANIZATION (SECTION501(C)(3)) WHICH PUBLISHES "THE MEDICAL LETTER". IT IS ANEWSLETTER WHICH IS DISTRIBUTED EVERY OTHER WEEK ON ASUBSCRIPTION BASIS TO VARIOUS PROFESSIONALS & STUDENTGROUPS. THERE IS A CIRCULATION OF OVER 100,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Abramowicz MD President | OfficerTrustee | 40 | $352,490 |
Stephen Baum Director - Chairman | Trustee | 1 | $0 |
Howard Presant Director | Trustee | 1 | $1,000 |
William Frishman MD Director | Trustee | 1 | $0 |
Jean-Marie Pflomm Editor In Chief | Officer | 40 | $257,500 |
Joanne Valentino-Rosen Exec. Dir. - Marketing & C | 40 | $163,620 |
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 | $4,415,200 |
| Investment income | $74,413 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $107,452 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,825 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,609,890 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $785,560 |
| Compensation of current officers, directors, key employees. | $1,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,732,913 |
| Pension plan accruals and contributions | $49,316 |
| Other employee benefits | $197,379 |
| Payroll taxes | $173,289 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,768 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,518 |
| Office expenses | $0 |
| Information technology | $89,092 |
| Royalties | $0 |
| Occupancy | $176,747 |
| Travel | $43 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,889 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,269 |
| Insurance | $31,195 |
| All other expenses | $109,393 |
| Total functional expenses | $4,287,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $336,709 |
| Savings and temporary cash investments | $916,024 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,369 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $27,651 |
| Prepaid expenses and deferred charges | $32,218 |
| Net Land, buildings, and equipment | $11,458 |
| Investments—publicly traded securities | $383,435 |
| Investments—other securities | $1,679,918 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $771,464 |
| Total assets | $4,194,246 |
| Accounts payable and accrued expenses | $165,095 |
| Grants payable | $0 |
| Deferred revenue | $3,114,638 |
| 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 | $23,939 |
| Total liabilities | $3,303,672 |
| Net assets without donor restrictions | $890,574 |
| 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 | $4,194,246 |