Indiana State Medical Association
- Assets
- $19.7m
- Revenue
- $4.4m
- Investments
- $1.0k
- Employees
- 32
- Location
- Indianapolis, IN
- Founding
- 07/1946
- Data as of
- 12/2023
- EIN
- 35-0411650
Organization Overview
Indiana State Medical Association is located in Indianapolis, IN. The organization was established in 1946. According to its NTEE Classification (E03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Health Care and related organizations. As of 12/2023, Indiana State Medical Association employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana State Medical Association 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 12/2023, Indiana State Medical Association generated $4.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $4.7m during the year ending 12/2023. While expenses have increased by 0.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE INDIANA STATE MEDICAL ASSOC EXISTS TO MAXIMIZE THE LEADERSHIP AND IMPACT OF PHYSICIANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION CONDUCTS BUSINESS FOR THE PURPOSE OF IMPROVING THE KNOWLEDGE AND STANDARDS OF MEDICAL MATTERS IN INDIANA. ALL ACTIVITIES ARE CARRIED ON TO ACCOMPLISH THE OBJECTIVES OF THE ASSOCIATION. THIS IS DONE THROUGH SEMINARS AND PUBLICATIONS WHICH EXTEND MEMBERS' MEDICAL KNOWLEDGE AND ELEVATE STANDARDS OF MEDICAL EDUCATION, FIELD SERVICES WHICH KEEP MEMBERS ABREAST OF NEW DEVELOPMENTS IN AN EVER-CHANGING ENVIRONMENT, AND LEGISLATIVE SERVICES WHICH HELP MEMBERS PARTICIPATE IN GOVERNMENT TO HELP DERIVE THE BEST HEALTH CARE SYSTEM FOR THE COMMUNITY, AND PROVIDE BENEFITS TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Kellams DO Trustee (deceased 03/2024) | Trustee | 1 | $0 |
Gregory Quin MD Trustee | Trustee | 1 | $0 |
Jane Bridges MD Trustee | Trustee | 1 | $0 |
Maria Del Rio Hoover MD Trustee | Trustee | 1 | $0 |
Mary Mcateer MD Trustee | Trustee | 1 | $0 |
Jacques Daoud MD Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Barnes & Thornburg Llp Legal | 12/30/23 | $198,546 |
Canal Square Limited Partnership Rent | 12/30/23 | $235,818 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,001,327 |
| 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 | $2,001,327 |
| Total Program Service Revenue | $177,318 |
| Investment income | $904,664 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $722,694 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $119,362 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,387,340 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,650 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $507,538 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,673,865 |
| Pension plan accruals and contributions | $202,058 |
| Other employee benefits | $565,526 |
| Payroll taxes | $141,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $207,389 |
| Fees for services: Accounting | $47,670 |
| Fees for services: Lobbying | $39,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,329 |
| Fees for services: Other | $202,878 |
| Advertising and promotion | $4,400 |
| Office expenses | $228,969 |
| Information technology | $126,097 |
| Royalties | $0 |
| Occupancy | $232,272 |
| Travel | $123,685 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $262,459 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,735 |
| Insurance | $39,404 |
| All other expenses | $1,442 |
| Total functional expenses | $4,724,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $625,554 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,270 |
| 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 | $150,483 |
| Net Land, buildings, and equipment | $55,424 |
| Investments—publicly traded securities | $18,652,735 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $187,377 |
| Total assets | $19,722,843 |
| Accounts payable and accrued expenses | $946,550 |
| Grants payable | $0 |
| Deferred revenue | $739,113 |
| 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 | $202,493 |
| Total liabilities | $1,888,156 |
| Net assets without donor restrictions | $17,834,687 |
| 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 | $19,722,843 |
Grants Awarded
Over the last fiscal year, Indiana State Medical Association has awarded $1,019,572 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
INDIANA UNIVERSITY SCHOOL OF MEDICINE CO TRUSTEES OF INDIANA UNIVERSITY PURPOSE: MEDICAL STUDENT ENDOWED SCHOLARSHIP FUND | $500,000 |
INDIANA STATE MEDICAL ASSOCIATION ALLIANCE INC PURPOSE: OPERATIONAL SUPPORT | $21,072 |
MARIAN UNIVERSITY - COLLEGE OF OSTEOPATHIC MEDICINE PURPOSE: MEDICAL STUDENT ENDOWED SCHOLARSHIP FUND | $473,500 |
THE HAHN FOUNDATION PURPOSE: OPERATIONAL SUPPORT TO THE ALLIANCE FOR A HEALTHIER INDIANA IN ITS EFFORTS TO RAISE AWARENESS OF INDIANA'S POOR HEALTH RANKINGS AND GROW GRASSROOTS SUPPORT FOR A HEALTHIER STATE. | $25,000 |