Institute Of Medicine Of Chicago
- Assets
- $815.4k
- Revenue
- $328.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1937
- Data as of
- 12/2021
- EIN
- 36-2217993
Organization Overview
Institute Of Medicine Of Chicago is located in Chicago, IL. The organization was established in 1937. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute Of Medicine Of Chicago 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 12/2021, Institute Of Medicine Of Chicago generated $328.5k 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 (3.9%) each year. All expenses for the organization totaled $220.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Institute Of Medicine Of Chicago has awarded 19 individual grants totaling $537,671. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE INSTITUTE OF MEDICINE OF CHICAGO (IOMC) IS AN INDEPENDENT ORGANIZATION OF DISTINGUISHED LEADERS IN THE HEALTH FIELD WHO COLLABORATE TO IMPROVE THE HEALTH OF THE PUBLIC. DRAWING UPON THE EXPERTISE OF A DIVERSE MEMBERSHIP AND OTHER REGIONAL LEADERS, THE IOMC ADDRESSES CRITICAL HEALTH ISSUES THROUGH A RANGE OF INTERDISCIPLINARY APPROACHES INCLUDING EDUCATION, RESEARCH, COMMUNICATION OF TRUSTED INFORMATION, AND COMMUNITY ENGAGEMENT. WITH THE HEALTH OF THE PUBLIC AT ITS CORE, IOMC IS BUILDING NEW PROGRAMS AND SERVICES TO BETTER MEET THE NEEDS OF ITS MEMBERS AND THE CHICAGOLAND COMMUNITY. VISIT WWW.IOMC.ORG.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NINE VIRTUAL EDUCATIONAL PROGRAMS WERE CONDUCTED IN 2021 AS PART OF THE CONTINUING STATE OF HEALTH OF CHICAGO PROGRAM- COLLABORATING FOR SYSTEMIC CHANGE DURING A PANDEMIC. EIGHT OF THESE VIRTUAL PROGRAMS WERE ACCREDITED FOR CONTINUING EDUCATIONAL CREDITS WITH RUSH UNIVERSITY. - 17 DEC 2021, PREVENTABLE: THE INSIDE STORY OF HOW LEADERSHIP FAILURES, POLITICS, AND SELFISHNESS DOOMED THE U.S. CORONAVIRUS RESPONSE. - 12 NOV 2021, CANNABIS - EVERYTHING YOU NEED TO KNOW ABOUT CANNABIS THERAPY IN THE 21ST CENTURY. - 8 OCT 2021, TACKLING MATERNAL HEALTH EQUITY TO ACHIEVE MATERNAL HEALTH JUSTICE IN ILLINOIS. - 10 SEP 2021, UNEQUAL CITIES: STRUCTURAL RACISM AND THE DEATH GAP IN AMERICA'S LARGEST CITIES. - 7 MAY 2021, MEDICAL MARIJUANA-WHAT DOES IT MEAN AND IS THERE EQUITY? - 23 APR 2021, THE PATH FORWARD FOR NURSING HOME RESIDENTS: LESSONS LEARNED FROM THE PANDEMIC. - 26 MAR 2021, CHILD AND FAMILY HEALTH IN CHICAGO AND THE COVID-19 PANDEMIC. - 19 FEB 2021, RACIAL INEQUITY IN HEALTHCARE. - 29 JAN 2021, CLOSING HEALTH GAPS FROM COVID-19 IN COOK & COLLAR COUNTIES & EXAMPLES.
IOMC COLLABORATED WITH THE PORTES FOUNDATION AND THE MICHAEL REESE RESEARCH AND EDUCATIONAL FOUNDATION, AND THREE RESEARCH GRANTS WERE AWARDED TO CONTINUE STUDIES IN DISEASE PREVENTION, DISEASE MANAGEMENT, AND REDUCING HEALTH DISPARITIES. RESEARCH GRANTS WERE AWARDED TO: - DR. TRAN H. TRAN, MIDWESTERN UNIVERSITY-COLLEGE OF PHARMACY 30,000 CLINICAL MODEL OF BEDSIDE DELIVERY OF PHARMACY MEDS. - MAUREEN DRAKES, PHD, LOYOLA UNIVERSITY-DEPT. OF MEDICINE 45,000 PREDICTING OVARIAN CANCER OUTCOMES BY ELUCIDATING MYELOID DERIVED SUPPRESSOR CELL FUNCTION. - ANNA MARIA MURPHY, PHD & DAVID ANSELL, MD, EQUAL HOPE-RUSH UNIVERSITY 30,000 REDUCING COVID19 HEALTH DISPARITIES BY LINKING CHICAGOANS TO MEDICAL HOMES: UNDERSTANDING CHICAGOANS' BARRIERS TO HAVE HAVING A PRIMARY CARE PROVIDER. IOMC MANAGED THE RESEARCH PROPOSAL PROCESS (LETTERS OF INTENT, SUBMITTALS, REVIEW OF PROPOSALS, RATING, AND DISTRIBUTION OF MONIES).
IOMC WAS AWARDED A GRANT BY THE OTHO S. A. SPRAGUE TO DEVELOP A TWO-YEAR MENTORING & NETWORKING PROGRAM FOR BLACK AND LATINX MALE MEDICAL STUDENTS. THERE HAS BEEN A SIGNIFICANT DECREASE IN BLACK AND LATINX MALE PHYSICIANS OVER THE PAST FEW YEARS. WE FEEL IT IS IMPERATIVE TO CORRECT THIS PROBLEM BEFORE IT IS A CRISIS. THE GRANT AWARD IS 150,000 FOR A TWO-YEAR PROGRAM. IOMC AWARDED NINE HEALTHCARE AWARDS IN JUNE 2021 AT ITS ANNUAL MEETING TO RECOGNIZE HEALTHCARE LEADERS FOR EXEMPLARY CONTRIBUTIONS. THE RECIPIENTS WERE FROM NORTHWESTERN UNIVERSITY FEINBERG SCHOOL OF MEDICINE, GUIDEHOUSE, THE SAFEHAVEN FOUNDATION, STATE OF ILLINOIS, CITY OF CHICAGO, AND SIX COUNTY PUBLIC HEALTH DIRECTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Rucker-Whitaker Mdmphfacp President | OfficerTrustee | 3 | $0 |
Raul Garza Vice Preside | OfficerTrustee | 1 | $0 |
Lorenzo Pence DO Secretary | OfficerTrustee | 1 | $0 |
Richard Ferraro Treasurer | OfficerTrustee | 5 | $0 |
Mark Grach Immediate Pa | Trustee | 1 | $0 |
Les Sandlow MD Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $40,145 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $264,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $304,170 |
| Total Program Service Revenue | $2,500 |
| Investment income | $9,384 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,475 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $328,529 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $105,000 |
| 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 | $70,461 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,217 |
| Advertising and promotion | $807 |
| Office expenses | $1,067 |
| Information technology | $2,993 |
| Royalties | $0 |
| Occupancy | $3,310 |
| Travel | $11 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $609 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,311 |
| All other expenses | $0 |
| Total functional expenses | $219,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,462 |
| Savings and temporary cash investments | $2,543 |
| Pledges and grants receivable | $116,000 |
| 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 | $4,220 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $448,166 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $815,391 |
| Accounts payable and accrued expenses | $47,547 |
| Grants payable | $0 |
| Deferred revenue | $9,575 |
| 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 | $57,122 |
| Net assets without donor restrictions | $520,775 |
| Net assets with donor restrictions | $237,494 |
| 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 | $815,391 |
Grants Awarded
Over the last fiscal year, Institute Of Medicine Of Chicago has awarded $105,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Maywood, IL PURPOSE: SEE FORM 990, PAGE 2 | $45,000 |
Chicago, IL PURPOSE: SEE FORM 990, PAGE 2 | $30,000 |
Downers Grove, IL PURPOSE: SEE FORM 990, PAGE 2 | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Institute Of Medicine Of Chicago has recieved totaling $82,500.
| Awarding Organization | Amount |
|---|---|
Michael Reese Research And Education Foundation Chicago, IL PURPOSE: IOMC DR M DRAKES RESEARCH-PREDICTING OVARIAN CANCER | $47,500 |
Northwestern Memorial Healthcare Chicago, IL PURPOSE: Community Support | $25,000 |
University Of Chicago Medical Center Chicago, IL PURPOSE: CB sponsorship of State of Health of Chicago | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Four Lakes Education Inc Mcfarland, WI | $19,510,761 | $31,025,737 |
Spencer Foundation Chicago, IL | $670,624,797 | $32,472,140 |
Childrens First Fund The Chicago Public School Foundation Chicago, IL | $26,791,850 | $26,985,163 |
Inside Track Impact Inc Indianapolis, IN | $23,220,663 | $19,614,456 |
Lycee Francais De Chicago Inc Chicago, IL | $48,724,560 | $20,322,112 |
Strada Collaborative Inc Indianapolis, IN | $87,757,237 | $36,146,755 |
Sertoma Centre Inc Alsip, IL | $22,208,490 | $17,472,414 |
Connected Nation Inc Bowling Green, KY | $5,021,239 | $16,572,653 |
National Association Of State Procurement Officials Lexington, KY | $137,920,901 | $31,374,950 |
Cross Trails Medical Center Cape Girardeau, MO | $16,622,925 | $13,747,968 |
Institute For Quality Education Inc Indianapolis, IN | $12,107,092 | $12,010,135 |
Lac Courte Oreilles Ojibwe School Hayward, WI | $14,755,136 | $9,679,407 |