Michigan State Medical Society
- Assets
- $15.4m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 37
- Location
- East Lansing, MI
- Founding
- 04/1985
- Data as of
- 11/2021
- EIN
- 38-0830717
Organization Overview
Michigan State Medical Society, operating under the name Msms, is located in East Lansing, MI. The organization was established in 1985. According to its NTEE Classification (E03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Health Care and related organizations. As of 11/2021, Msms employed 37 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Msms 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 11/2021, Msms generated $5.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $5.2m during the year ending 11/2021. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 6 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
PROMOTE A HEALTH CARE ENVIRONMENT THAT SUPPORTS PHYSICIANS IN CARING FOR AND ENHANCING THE HEALTH OF MICHIGAN CITIZENS THROUGH SCIENCE, QUALITY, AND ETHICS IN THE PRACTICE OF MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EDUCATE MEMBERS AND THE PUBLIC ON MEDICAL ISSUES AND PROMOTE THE INTERESTS OF THE HEALTH CARE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Novak CEO | Officer | 28.5 | $373,149 |
Lauchlin Macgregor CFO | Officer | 21 | $197,036 |
Virginia Gibson Senior Director | 7.5 | $139,037 | |
Rebecca Blake Senior Director | 36.5 | $136,213 | |
Kevin Mcfatridge Senior Director | 32.5 | $133,491 | |
Carl Richards Senior Director | 37.5 | $131,823 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $483,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $483,000 |
| Total Program Service Revenue | $2,948,328 |
| Investment income | $155,986 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$71,348 |
| Net Gain/Loss on Asset Sales | $717,081 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,010,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $650,622 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,955,189 |
| Pension plan accruals and contributions | $142,042 |
| Other employee benefits | $244,303 |
| Payroll taxes | $186,102 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $249,089 |
| Fees for services: Accounting | $36,825 |
| Fees for services: Lobbying | $130,250 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,105 |
| Fees for services: Other | $357,284 |
| Advertising and promotion | $102,673 |
| Office expenses | $211,814 |
| Information technology | $190,915 |
| Royalties | $0 |
| Occupancy | $295,071 |
| Travel | $35,515 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $65,206 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $226,183 |
| Insurance | $29,430 |
| All other expenses | $0 |
| Total functional expenses | $5,158,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,809,658 |
| Savings and temporary cash investments | $5,895,387 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $136,990 |
| 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 | $93,579 |
| Net Land, buildings, and equipment | $1,650,935 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,815,444 |
| Total assets | $15,401,993 |
| Accounts payable and accrued expenses | $260,004 |
| Grants payable | $0 |
| Deferred revenue | $1,157,670 |
| 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 | $199,045 |
| Total liabilities | $1,616,719 |
| Net assets without donor restrictions | $13,785,274 |
| 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 | $15,401,993 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michigan State Medical Society has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
American Medical Association Chicago, IL PURPOSE: SCOPE OF PRACTICE GRANT | $50,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
National Church Residences Columbus, OH | $6,772,830 | $11,332,666 |
Greater Dayton Area Hospital Assoc Dayton, OH | $5,189,718 | $9,300,133 |
Michigan Nurses Association Okemos, MI | $27,717,414 | $8,418,016 |
Michigan Dental Association Okemos, MI | $14,871,690 | $7,368,661 |
Michigan State Medical Society East Lansing, MI | $15,401,993 | $5,010,247 |
Ohio Nurses Association Hilliard, OH | $4,406,486 | $4,396,631 |
Indiana State Medical Association Indianapolis, IN | $22,274,244 | $4,315,865 |
Health Care Education And Training Inc Indianapolis, IN | $968,136 | $3,323,662 |
Columbus Medical Association Foundation Columbus, OH | $114,076,258 | $935,267 |
Ohio State Medical Association Dublin, OH | $8,799,720 | $5,500,872 |