Academy Of Medicine Of Cincinnati
- Assets
- $545.3k
- Revenue
- $260.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Cincinnati, OH
- Founding
- 07/1948
- Data as of
- 12/2022
- EIN
- 31-0524369
Organization Overview
Academy Of Medicine Of Cincinnati is located in Cincinnati, OH. The organization was established in 1948. According to its NTEE Classification (E01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Health Care and related organizations. As of 12/2022, Academy Of Medicine Of Cincinnati employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Of Medicine Of Cincinnati 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, Academy Of Medicine Of Cincinnati generated $260.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $360.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (9.4%) per year over the past 7 years. 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 ACADEMY OF MEDICINE IS THE PROFESSIONAL ASSOCIATION THAT EXISTS TO ORGANIZE, REPRESENT, ADVOCATE FOR AND SERVE PHYSICIANS OF GREATER CINCINNATI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY WORKS TO CONNECT MEMBER PHYSICIANS WITH OTHER PHYSICIANS, PATIENTS, AND THE COMMUNITY AT LARGE THROUGH PRODUCTION OF AN ONLINE AND PHONE PHYSICIAN REFERRAL SERVICE. THE ACADEMY ALSO SERVES AS THE OFFICIAL BODY FOR EMERGENCY SERVICE PROTOCOLS ACROSS THE CITY THROUGH ITS VARIOUS VOLUNTEER COMMITTEES. ALL PROTOCOLS ARE REVISED AND PUBLISHED ANNUALLY.
SPECIAL EVENT OUTINGS - THE ACADEMY OF MEDICINE HOLDS SEVERAL SOCIAL AND EDUCATIONAL EVENTS DURING THE YEAR TO FOSTER CONNECTIVITY AMONG PHYSICIANS, PROMOTES PHYSICIAN WELL-BEING, AND EDUCATES ON IMPORTANT TOPICS. EVENTS IN 2022 INCLUDED:3/10/2022 - COVID WEBINAR4/26/2022 - FINANCIAL HEALTH 1016/6/2022 - GOLF OUTING 6/24/2022 - WOMEN'S WELLNESS8/24/2022 - SUMMER SOCIAL10/28/3033 - 50 YEAR PHYSICIANS AWARD LUNCHEON11/21/2022 - CONTRACT NEGOTIATIONS
ANNUAL MEETING - ON MAY 17, 2022, THE ANNUAL MEETING CELEBRATION WAS HELD TO ELECT OFFICERS, AND TO HONOR MEMBERS FOR OUTSTANDING SERVICE. THE 2022 ANNUAL MEETING INCLUDED AWARDS TO RECOGNIZE PHYSICIANS FOR SERVICE OF AT LEAST 50 YEARS, PRESENT THE ACADEMY DISTINGUISHED SERVICE AWARD TO A MEMBER, AND TO BESTOW THE UC MEDICAL STUDENT SCHOLARSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Sellar Executive Dir. | Officer | 38 | $66,277 |
Robert Pettit MD Councilor | Trustee | 1 | $0 |
Stephen Feagins MD Councilor | Trustee | 1 | $0 |
Adam Miller MD Councilor | Trustee | 1 | $0 |
Rani Nasser MD Councilor | Trustee | 1 | $0 |
Andrew Petersen MD Councilor | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $210,025 |
| Investment income | $15,915 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,129 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $260,069 |
| 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. | $66,277 |
| Compensation of current officers, directors, key employees. | $13,255 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $102,327 |
| Pension plan accruals and contributions | $7,476 |
| Other employee benefits | $0 |
| Payroll taxes | $16,601 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,114 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $833 |
| Fees for services: Other | $19,212 |
| Advertising and promotion | $457 |
| Office expenses | $14,677 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,532 |
| Travel | $516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $113 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,777 |
| Insurance | $6,241 |
| All other expenses | $12,286 |
| Total functional expenses | $360,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $82,221 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,221 |
| 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 | $5,461 |
| Net Land, buildings, and equipment | $9,216 |
| Investments—publicly traded securities | $419,156 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $545,275 |
| Accounts payable and accrued expenses | $19,670 |
| Grants payable | $0 |
| Deferred revenue | $132,342 |
| 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 | $152,012 |
| Net assets without donor restrictions | $393,263 |
| 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 | $545,275 |