Massachusetts Medical Benevolent Society
- Assets
- $6.4m
- Revenue
- $339.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Waltham, MA
- Founding
- 03/1959
- Data as of
- 10/2022
- EIN
- 23-7089741
Organization Overview
Massachusetts Medical Benevolent Society is located in Waltham, MA. The organization was established in 1959. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Medical Benevolent Society 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 10/2022, Massachusetts Medical Benevolent Society generated $339.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $191.9k during the year ending 10/2022. 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
MASSACHUSETTS MEDICAL BENEVOLENT SOCIETY (THE "SOCIETY") IS A NOT-FOR-PROFIT ORGANIZATIONESTABLISHED IN MARCH 1857 TO PROVIDE FINANCIAL ASSISTANCE TO MEMBERS OF THE MEDICAL PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOCIETY PROVIDES DIRECT ASSISTANCE IN THE FORM OF FINANCIAL AND OTHER ASSISTANCE TO INDIVIDUALS ON "NEED BASE" ASSESSMENT THAT IS DETERMINED BY PROFESSIONAL SOCIAL WORKERS AND APPROVED BY THE BOARD OF TRUSTEES. CRITERIA OF NEED ASSESSMENT IS BASED ON AN EVALUATION OF EACH INDIVIDUAL CASE AND A REVIEW OF THE CIRCUMSTANCE THAT LED TO THE REQUEST FOR ASSISTANCE.
SERVICES OF SOCIAL WORKERS TO EVALUATE THE FINANCIAL AND SOCIAL NEEDS OF INDIVIDUALS THAT HAVE BEEN REFERRED TO THE SOCIETY AS A POTENTIAL BENEFICIARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark A Rockoff MD President | OfficerTrustee | 2 | $0 |
Amy E Vinson MD Treasurer | OfficerTrustee | 1 | $0 |
Donna Norris MD Vice President | OfficerTrustee | 1 | $0 |
Dania Al-Ahmad MD Secretary | OfficerTrustee | 1 | $0 |
George Santos MD Trustee | Trustee | 1 | $0 |
Ronald W Dunlap MD Trustee | Trustee | 1 | $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 | $206,104 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $206,104 |
| Total Program Service Revenue | $0 |
| Investment income | $138,458 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,707 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $339,855 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $132,650 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $322 |
| Total functional expenses | $191,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,457 |
| Savings and temporary cash investments | $0 |
| 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 | $4,897,079 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,146,885 |
| Total assets | $6,351,421 |
| Accounts payable and accrued expenses | $6,270 |
| Grants payable | $10,000 |
| Deferred revenue | $0 |
| 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 | $16,270 |
| Net assets without donor restrictions | $4,299,153 |
| Net assets with donor restrictions | $2,035,998 |
| 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 | $6,351,421 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Massachusetts Medical Benevolent Society has recieved totaling $23,652.
| Awarding Organization | Amount |
|---|---|
Tr Ua Hervey L Smith 3-09920-02 Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $23,652 |
Endowment Analysis
| Beg. Balance | $2,335,829 |
| Earnings | -$299,831 |
| Ending Balance | $2,035,998 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Health Imperatives Inc Brockton, MA | $4,033,830 | $14,059,212 |
State Legislative Leaders Marstons Mills, MA | $6,407,523 | $3,615,798 |
Healthcare Educational & Research Fund Inc Rensselaer, NY | $46,830 | $1,180,177 |
Episcopal Ministries Of Long Island Garden City, NY | $14,549,145 | $957,910 |
Berkshire Area Health Education Center Inc Dalton, MA | $601,315 | $589,957 |
Chinese American Medical Society New York, NY | $3,127,243 | $324,901 |
Western New York Educational Service Council West Seneca, NY | $164,706 | $294,498 |
Hellenic Medical Society Of New York Inc Brooklyn, NY | $907,370 | $122,742 |
Ecu-Health Care Inc North Adams, MA | $149,861 | $202,579 |
Massachusetts Medical Benevolent Society Waltham, MA | $6,351,421 | $339,855 |
Medical Society Of The County Of Westchester Inc Valhalla, NY | $114,418 | $223,589 |
Pines Care Center Inc Fire Island Pines, NY | $378,268 | $209,864 |