American Medical Association Foundation
- Assets
- $28.0m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 03/1962
- Data as of
- 06/2023
- EIN
- 36-6080517
Organization Overview
American Medical Association Foundation is located in Chicago, IL. The organization was established in 1962. According to its NTEE Classification (H12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Medical Association Foundation 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 06/2023, American Medical Association Foundation generated $2.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $4.3m during the year ending 06/2023. While expenses have increased by 4.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE AMA FOUNDATION BRINGS TOGETHER PHYSICIANS AND COMMUNITIES TO IMPROVE OUR NATION'S HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL SCHOLARSHIPS - PHYSICIANS OF TOMORROW PROVIDES SCHOLARSHIP FUNDING TO ACADEMICALLY OUTSTANDING MEDICAL STUDENTS WITH A FINANCIAL NEED WHO ARE ALREADY DEMONSTRATING A COMMITMENT TO PUBLIC HEALTH. THE UNDERREPRESENTED IN MEDICINE SCHOLARSHIPS ARE SPECIFICALLY AWARDED TO MEDICAL STUDENTS WHO MEET THE ABOVE CRITERIA AND ARE ALSO FROM RACIAL/ETHNIC/CULTURAL GROUPS UNDER-REPRESENTED IN THE PRACTICING PHYSICIAN POPULATION PROMOTING DIVERSITY, HEALTH EQUITY AND THE DELIVERY OF CULTURALLY COMPETENT CARE. THESE STUDENTS OFTEN CHOOSE TO SERVE AT-RISK MINORITY AND SOCIO-ECONOMICALLY DISADVANTAGED PATIENT POPULATIONS. CONTINUED ON SCHEDULE O.
GENERAL PROGRAM SERVICES
THE COMMUNITY HEALTH PROGRAM (CHP) - LAUNCHED IN 2018, FORMS AND SUPPORTS A COHORT OF COMMUNITY BASED ORGANIZATIONS ACROSS THE COUNTRY FOCUSED ON THE PREVENTION AND MANAGEMENT OF CHRONIC DISEASES AMONG VULNERABLE POPULATIONS - CURRENTLY, TYPE-2 DIABETES AND HYPERTENSION. THIS COHORT APPROACH IS MEANT TO PROMOTE NOWLEDGE/RESOURCE SHARING, FOSTER MEASUREABLE HEALTH IMPROVEMENTS AND, SUSTAIN DELIVERY OF CARE BEYOND THE FOUNDATION'S INVOLVEMENT. CONTINUED ON SCHEDULE O.
THE AMA FOUNDATION PUBLICLY RECOGNIZES AND PROVIDES AWARDS TO ALTRUISTIC PHYSICIANS. THESE AWARDS ARE DESIGNED TO CELEBRATE THEIR ACCOMPLISHMENTS AND FURTHER INSPIRE AND ENCOURAGE VOLUNTEERISM IN THE MEDICAL PROFESSION WHILE IMPROVING THE HEALTH OF UNDERSERVED COMMUNITIES. TO DATE, MORE THAN 90 ALTRUISTIC PHYSICIANS HAVE BEEN HONORED FOR THEIR INSPIRATIONAL WORK TO INCREASE CARE FOR THOUSANDS IN NEED ACROSS THE COUNTRY AND THE GLOBE. CONTINUED ON SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barkley Payne Executive Director | Officer | 40 | $236,904 |
Sandra Smith Director Of Advancement | Officer | 40 | $134,520 |
Ivy Gard Senior Corporate Relations Off | Officer | 40 | $100,928 |
Mary Beth Ellison Secretary | Trustee | 5 | $0 |
Nancy Mueller MD President-Elect | Trustee | 5 | $0 |
Albert Ray MD Treasurer | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
American Medical Assoc Payroll | 6/29/23 | $1,442,004 |
Lexicon Strategies Llc Consulting | 6/29/23 | $238,500 |
Lipton Strategies Llc Consulting | 6/29/23 | $122,595 |
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 | $2,898,212 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,898,212 |
| Total Program Service Revenue | $0 |
| Investment income | $527,685 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,170,423 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,255,474 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,386,975 |
| Grants and other assistance to domestic individuals. | $325,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,152,553 |
| Compensation of current officers, directors, key employees. | $453,534 |
| 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 | $0 |
| Fees for services: Legal | $55,551 |
| Fees for services: Accounting | $29,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,703 |
| Fees for services: Other | $505,742 |
| Advertising and promotion | $0 |
| Office expenses | $33,810 |
| Information technology | $36,874 |
| Royalties | $0 |
| Occupancy | $95,769 |
| Travel | $139,699 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $174,783 |
| Interest | $0 |
| Payments to affiliates | $73,464 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,096 |
| All other expenses | $13,513 |
| Total functional expenses | $4,288,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,321,915 |
| Pledges and grants receivable | $2,032,351 |
| 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 | $153,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $24,456,250 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,964,016 |
| Accounts payable and accrued expenses | $341,587 |
| Grants payable | $1,303,854 |
| Deferred revenue | $0 |
| 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 | $1,645,441 |
| Net assets without donor restrictions | $14,033,879 |
| Net assets with donor restrictions | $12,284,696 |
| 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 | $27,964,016 |
Grants Awarded
Over the last fiscal year, American Medical Association Foundation has awarded $214,717 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHED LIST PURPOSE: HEALTHY COMMUNITIES HEALTHY AMERICA GRANTS | $80,000 |
SEE ATTACHED LIST PURPOSE: HEALTHY LIVING GRANTS | $114,717 |
SEE ATTACHED LIST PURPOSE: AHLA | $20,000 |