Lorain County Medical Society
- Assets
- $40.3k
- Revenue
- $31.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Elyria, OH
- Founding
- 02/1968
- Data as of
- 11/2022
- EIN
- 34-0828815
Organization Overview
Lorain County Medical Society is located in Elyria, OH. The organization was established in 1968. 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. Lorain County Medical Society 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 11/2022, Lorain County Medical Society generated $31.6k 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 (20.2%) each year. All expenses for the organization totaled $30.3k during the year ending 11/2022. As we would expect to see with falling revenues, expenses have declined by (18.1%) 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
RECOGNIZING HEALTH CARE NEEDS OF THE COMMUNITY, TAKING A LEADERSHIP ROLE ABOUT HEALTH ISSUES, PROMOTING PATIENT-PHYSICIAN RELATIONSHIP, AND UPHOLDING MEDICAL ETHICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTING AS A STRONG PHYSICIAN ADVOCATE WITHIN THE BOUNDARIES OF PROFESSIONAL INTEGRITY WHILE RECOGNIZING AND REPRESENTING THE DIVERSITY WITHIN THE MEDICAL COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Nelson Past President | OfficerTrustee | 5 | $0 |
Dr Kodsy Past President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $9,615 |
| 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 | $9,615 |
| Total Program Service Revenue | $21,990 |
| Investment income | $0 |
| 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 | $31,605 |
| 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. | $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 | $3,000 |
| 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 | $4,043 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,444 |
| 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 | $1,200 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $30,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,432 |
| 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 | $22,908 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $40,340 |
| Accounts payable and accrued expenses | $1,095 |
| Grants payable | $0 |
| 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 | $1,095 |
| Net assets without donor restrictions | $39,245 |
| 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 | $40,340 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lorain County Medical Society has recieved totaling $125.
| Awarding Organization | Amount |
|---|---|
Lakeland Community Foundation Amherst, OH PURPOSE: GENERAL OPERATING EXPENSES | $125 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association Of Equine Practitioners Lexington, KY | $8,765,231 | $7,398,673 |
Grand View - Lehigh Valley Health Services Sellersville, PA | $1,306,518 | $2,758,169 |
American Board Of Ophthalmology Doylestown, PA | $11,729,185 | $5,597,359 |
Pennsylvania Dental Association Harrisburg, PA | $21,759,277 | $13,492,593 |
American Board Of Plastic Surgery Inc Philadelphia, PA | $10,377,925 | $3,692,721 |
Center For Eating Disorders & Psychotherapy Columbus, OH | $2,140,567 | $2,172,592 |
Kentucky Medical Assn Louisville, KY | $5,977,584 | $2,527,003 |
Indiana Dental Association Indianapolis, IN | $5,179,468 | $2,299,278 |
Catholic Medical Association Fort Washington, PA | $757,837 | $1,642,943 |
National Comm For Certification Of Anesthesiologist Asst Inc Florence, KY | $988,140 | $932,650 |
Compassion Health Toledo Toledo, OH | $799,071 | $928,207 |
Lexington Medical Society Lexington, KY | $896,278 | $986,905 |