Council Of Medical Specialty Societies
- Assets
- $4.5m
- Revenue
- $5.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Chicago, IL
- Founding
- 09/1976
- Data as of
- 12/2022
- EIN
- 36-2868605
Organization Overview
Council Of Medical Specialty Societies is located in Chicago, IL. The organization was established in 1976. As of 12/2022, Council Of Medical Specialty Societies employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Council Of Medical Specialty Societies 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 12/2022, Council Of Medical Specialty Societies generated $5.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $5.2m during the year ending 12/2022. While expenses have increased by 19.0% per year over the past 8 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.
Since 2021, Council Of Medical Specialty Societies has awarded 24 individual grants totaling $3,236,257. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING AND STRENGTHENING MEMBER SOCIETIES TO ADDRESS FUTURE CHALLENGES. CATALYZING IMPROVEMENT THROUGH CONVENING, COLLABORATION, COLLECTIVE VOICE AND ACTION ACROSS SPECIALTIES. PROVIDING A PROACTIVE PLATFORM TO ASSESS AND ADDRESS EMERGING AND CRITICAL ISSUES ACROSS SPECIALTY SOCIETIES THAT INFLUENCE THE FUTURE OF HEALTHCARE AND THE PATIENTS WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CMSS MAIN PURPOSE IS TO PROVIDE A FORUM FOR COLLABORATION TO INFLUENCE THE FUTURE OF HEALTHCARE, MEDICAL EDUCATION AND ACCREDITATION FROM A BROAD, CROSS-SPECIALTY PERSPECTIVE. CMSS IS THE UNIFIED VOICE FOR SPECIALTY SOCIETIES ESTABLISHED TO IMPROVE THE US HEALTHCARE SYSTEM AND HEALTH OF THE PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Sheppard CPA Cae President | OfficerTrustee | 2 | $0 |
Sue Sedory MA Cae President-Elect | OfficerTrustee | 1 | $0 |
Martha Liggett ESQ Past President | OfficerTrustee | 1 | $0 |
Paul Pomerantz Fache Treasurer | OfficerTrustee | 1 | $0 |
William Thorwarth MD Secretary | OfficerTrustee | 1 | $0 |
Dina Michels JD At-Large Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bostrom Corporation Management Company | 12/30/18 | $385,972 |
The Blackstone Hotel Hotel Services | 12/30/18 | $128,896 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,792,688 |
| All other contributions, gifts, grants, and similar amounts not included above | $860,309 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,652,997 |
| Total Program Service Revenue | $1,834,256 |
| Investment income | $37,697 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$20,931 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,516,538 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,991,048 |
| 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. | $585,511 |
| Compensation of current officers, directors, key employees. | $168,115 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $230,819 |
| Pension plan accruals and contributions | $30,307 |
| Other employee benefits | $3,035 |
| Payroll taxes | $35,566 |
| Fees for services: Management | $472,719 |
| Fees for services: Legal | $69,878 |
| Fees for services: Accounting | $9,515 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,700 |
| Fees for services: Other | $262,282 |
| Advertising and promotion | $2,847 |
| Office expenses | $62,358 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,040 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $380,392 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,804 |
| All other expenses | $0 |
| Total functional expenses | $5,187,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,320,147 |
| Savings and temporary cash investments | $29,403 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $678,857 |
| 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 | $19,074 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,408,452 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,650 |
| Total assets | $4,541,583 |
| Accounts payable and accrued expenses | $1,037,064 |
| Grants payable | $550,000 |
| Deferred revenue | $637,217 |
| 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 | $85,112 |
| Total liabilities | $2,309,393 |
| Net assets without donor restrictions | $2,232,190 |
| 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 | $4,541,583 |
Grants Awarded
Over the last fiscal year, Council Of Medical Specialty Societies has awarded $2,913,037 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN SOCIETY OF ANESTHESIOLOGISTS PURPOSE: Diagnostic Excellence Research Project with Deliverables | $50,000 |
AMERICAN ACADEMY OF PEDIATRICS PURPOSE: Diagnostic Excellence Research Project with Deliverables | $50,000 |
AMERICAN ACADEMY OF OPHTHALMOLOGY PURPOSE: Diagnostic Excellence Research Project with Deliverables | $50,000 |
AMERICAN COLLEGE OF SURGEONS PURPOSE: Diagnostic Excellence Research Project with Deliverables | $50,000 |
AMERICAN THORACIC SOCIETY PURPOSE: Diagnostic Excellence Research Project with Deliverables | $50,000 |
AMERICAN ACADEMY OF ALLERGY ASTHMA & IMMUNOLOGY PURPOSE: Diagnostic Excellence Research Project with Deliverables | $50,000 |