Illinois State Medical Society
- Assets
- $9.7m
- Revenue
- $3.6m
- Investments
- $2.4m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/1947
- Data as of
- 12/2022
- 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 12/2022, Illinois State Medical Society generated $3.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $4.2m during the year ending 12/2022. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ISMS GOVERNMENTAL AFFAIRS TEAM REPRESENTED THE INTERESTS OF PHYSICIAN MEMBERS IN THE STATE CAPITAL AND WITH THE ILLINOIS CONGRESSIONAL DELEGATION. IN SPRINGFIELD, ISMS WORKED TO PRESERVE AND ENHANCE THE PRACTICE OF MEDICINE BY ADVOCATING FOR HIGH STANDARDS OF LICENSING FOR PHYSICIANS AND ALLIED HEALTH PROFESSIONALS, AND FOR MEASURES TO PROTECT THE PUBLIC HEALTH AND PRESERVE PHYSICIAN AUTONOMY IN CLINICAL DECISION-MAKING. ISMS ALSO ADVOCATED FOR ENHANCED ACCESS TO HEALTH CARE THROUGH PUBLIC AND PRIVATE PROGRAMS OF INSURANCE. THROUGH THE REALITY MEDICINE PUBLIC AWARENESS INITIATIVE, ISMS CONTINUED TO HIGHLIGHT THE IMPACT OF MEDICAL LIABILITY ISSUES ON PATIENT ACCESS TO HEALTH CARE IN ILLINOIS.
THE ISMS DIVISION OF HEALTH POLICY RESEARCH AND ADVOCACY FIELDED HUNDREDS OF MEMBER CALLS FOR ASSISTANCE IN 2022. IT REVIEWED AND ANALYZED SCORES OF HEALTH CARE REFORM PROPOSALS AND STATE LEGISLATIVE BILLS, AND WORKED TO VOICE PHYSICIANS POLICY CONCERNS BEFORE STATE GOVERNMENT AND PRIVATE SECTOR ENTITIES. ISMS DEVOTED SIGNIFICANT EDUCATIONAL RESOURCES TO ASSIST PHYSICIANS IN TRANSITIONING TO USE OF ELECTRONIC MEDICAL RECORDS AND RELATED TECHNOLOGY ISSUES. THE DIVISION PRODUCED A VARIETY OF PUBLICATIONS, EDUCATIONAL BROCHURES AND WEBINARS.
THE MEMBERSHIP AND MARKETING TEAM IS RESPONSIBLE FOR THE ONGOING MAINTENANCE AND ENHANCEMENT OF A STRONG PHYSICIAN MEMBERSHIP. THIS IS CRITITCAL TO SUPPORTING KEY ADVOCACY ACTIVITIES OF ISMS AND THE RESPECT AND CREDIBILITY ACCORDED TO IT AS THE ONLY ORGANIZATION REPRESENTING PHYSICIANS OF ALL MEDICAL SPECIALTIES IN ILLINOIS. MARKETING ACTIVITIES BOTH STATEWIDE AND AT THE LOCAL LEVEL, INCLUDE BUT ARE NOT LIMITED TO: FOCUSED OUTREACH AND MARKETING PROGRAMS TO PHYSICIANS AS WELL AS THEIR PROFESSIONAL OFFICE STAFF, DEVELOPMENT OF THE PARTNERS IN PRACTICE SERIES OF MARKETING MATERIALS FOCUSING ON SPECIFIC DEMOGRAPHICS, EXPANDED MEMBERSHIP BENEFITS PROGRAMS, STREAMLINING OF MEMBERSHIP APPLICATION AND RENEWAL PROCESSES, DEVELOPMENT AND IMPLEMENTATION OF EFFECTIVE PEER-TO-PEER MARKETING TOOLS, AND ENHANCEMENT OF ITS PHYSICIAN DATABASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President | OfficerTrustee | 2.5 | $63,679 |
Name Not Listed Secretary/treasurer | OfficerTrustee | 2.5 | $23,736 |
Name Not Listed President - Elect | OfficerTrustee | 2.5 | $18,750 |
Name Not Listed Trustee/chair | OfficerTrustee | 2.5 | $60,618 |
Name Not Listed Immediate Past Chair (thru 4/22) | Trustee | 2.5 | $0 |
Name Not Listed Trustee At Large | 2.5 | $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 | $66,679 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $66,679 |
| Total Program Service Revenue | $3,204,977 |
| Investment income | $85,884 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,106 |
| Net Gain/Loss on Asset Sales | $84,204 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,555,636 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $450 |
| 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 | $2,197,067 |
| Pension plan accruals and contributions | $98,198 |
| Other employee benefits | $222,717 |
| Payroll taxes | $118,410 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,674 |
| Fees for services: Accounting | $111,552 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $259,984 |
| Fees for services: Other | $15,789 |
| Advertising and promotion | $4,288 |
| Office expenses | $200,835 |
| Information technology | $3,219 |
| Royalties | $0 |
| Occupancy | $234,183 |
| Travel | $445,555 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,621 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $61,198 |
| All other expenses | -$4,595 |
| Total functional expenses | $4,200,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,904,528 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $329,022 |
| 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 | $81,049 |
| Net Land, buildings, and equipment | $7,900 |
| Investments—publicly traded securities | $4,450,041 |
| Investments—other securities | $2,441,982 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $530,010 |
| Total assets | $9,744,532 |
| Accounts payable and accrued expenses | $558,560 |
| Grants payable | $0 |
| Deferred revenue | $607,903 |
| 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 | $1,098,919 |
| Total liabilities | $2,265,382 |
| Net assets without donor restrictions | $7,479,150 |
| 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 | $9,744,532 |