Illinois State Medical Society
- Assets
- $10.8m
- Revenue
- $3.9m
- Investments
- $2.7m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1947
- Data as of
- 12/2021
- EIN
- 36-2436054
Organization Overview
Illinois State Medical Society is located in Chicago, IL. The organization was established in 1947. According to its NTEE Classification (E03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Health Care and related organizations. This organization is the central organization for a national or regional group of organizations. Illinois State 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 12/2021, Illinois State Medical Society generated $3.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ILLINOIS STATE MEDICAL SOCIETY IS A PROFESSIONAL ORGANIZATION THAT REPRESENTS AND UNIFIES ITS PHYSICIAN MEMBERS AS THEY PRACTICE THE SCIENCE AND ART OF MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander Lerner CEO | Officer | 22.5 | $305,297 |
Suzanne Nelson COO | Officer | 22.5 | $123,202 |
Richard C Anderson Chair | OfficerTrustee | 2.5 | $76,572 |
David A Wichmann CFO | Officer | 7.5 | $71,757 |
J Regan Thomas President | OfficerTrustee | 2.5 | $63,679 |
Clarence W Brown Trustee | OfficerTrustee | 2.5 | $18,750 |
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 | $21,426 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,426 |
| Total Program Service Revenue | $3,259,917 |
| Investment income | $88,026 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $386 |
| Net Gain/Loss on Asset Sales | $172,835 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,910,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60 |
| 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. | $670,650 |
| Compensation of current officers, directors, key employees. | $670,650 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,430,119 |
| Pension plan accruals and contributions | $91,733 |
| Other employee benefits | $342,164 |
| Payroll taxes | $112,683 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,686 |
| Fees for services: Accounting | $121,715 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $161,332 |
| Fees for services: Other | $19,723 |
| Advertising and promotion | $4,164 |
| Office expenses | $214,880 |
| Information technology | $4,888 |
| Royalties | $0 |
| Occupancy | $406,232 |
| Travel | $208,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,010 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $54,057 |
| All other expenses | $27,226 |
| Total functional expenses | $4,138,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,390,448 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $162,805 |
| 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 | $44,212 |
| Net Land, buildings, and equipment | $9,900 |
| Investments—publicly traded securities | $5,703,669 |
| Investments—other securities | $2,709,694 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $755,985 |
| Total assets | $10,776,713 |
| Accounts payable and accrued expenses | $628,667 |
| Grants payable | $0 |
| Deferred revenue | $728,588 |
| 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 | $818,907 |
| Total liabilities | $2,176,162 |
| Net assets without donor restrictions | $8,600,551 |
| 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 | $10,776,713 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Illinois State Medical Society has recieved totaling $66,000.
| Awarding Organization | Amount |
|---|---|
American Medical Association Chicago, IL PURPOSE: SCOPE OF PRACTICE PARTNERSHIP GRANT | $66,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Illinois Primary Health Care Association Springfield, IL | $11,577,545 | $20,459,063 |
Accreditation Association For Ambulatory Health Care Inc Skokie, IL | $34,944,866 | $26,328,831 |
American Board Of Medical Specialties Chicago, IL | $33,424,313 | $22,297,576 |
Missouri Hospital Association Jefferson City, MO | $56,914,745 | $17,839,212 |
Indiana Hospital Association Inc Indianapolis, IN | $14,217,273 | $13,385,165 |
The Saturday Evening Post Society Inc Indianapolis, IN | $49,329,518 | $11,274,580 |
Iowa Hospital Association Des Moines, IA | $17,798,272 | $8,917,472 |
American Academy Of Physical Medicine And Rehabilitation Rosemont, IL | $24,985,225 | $10,237,461 |
American Organization For Nursing Leadership Chicago, IL | $20,744,562 | $7,460,958 |
Iowa Healthcare Collaborative Des Moines, IA | $12,881,277 | $5,601,701 |
Board Of Certification For Emergency Nursing Oak Brook, IL | $14,934,746 | $6,150,002 |
American Orthopaedic Foot & Ankle Society Rosemont, IL | $3,436,824 | $6,305,161 |