Wisconsin Medical Society Foundation Inc
- Assets
- $12.6m
- Revenue
- $489.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 12/1956
- Data as of
- 12/2022
- EIN
- 39-6045649
Organization Overview
Wisconsin Medical Society Foundation Inc is located in Madison, WI. The organization was established in 1956. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wisconsin Medical Society Foundation Inc 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, Wisconsin Medical Society Foundation Inc generated $489.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $778.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wisconsin Medical Society Foundation Inc has awarded 33 individual grants totaling $582,503. 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
TO ADVANCE THE HEALTH OF THE PEOPLE OF WISCONSIN BY SUPPORTING MEDICAL AND HEALTH EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL EDUCATION:- STUDENT LOAN AND SCHOLARSHIP PROGRAMALL STUDENT LOANS ARE AWARDED TO STUDENTS ATTENDING THE MEDICAL COLLEGE OF WISCONSIN OR THE UNIVERSITY OF WISCONSIN SCHOOL OF MEDICINE AND PUBLIC HEALTH. STUDENT LOANS TOTALING $460,000 WERE AWARDED IN 2022 TO 46 STUDENTS. THESE LOANS ARE INTEREST-FREE WHILE THE STUDENT IS IN SCHOOL AND OFFER GENEROUS DEFERRAL AND REPAYMENT TERMS.SCHOLARSHIP APPLICATIONS ARE REVIEWED BY A SCHOLARSHIP COMMITTEE THAT DETERMINES RECIPIENTS AND THE AMOUNT OF EACH AWARD. THERE ARE ALSO FUTURE SUPERHERO OF MEDICINE FOR UNDER REPRESENTED MINORITIES SCHOLARHIPS WERE AWARDED TO 9 STUDENTS TO ACCESS TEST PREP RESOURCES FOR THE MATC AND STEP 1 AND 2 EXAMS. A TOTAL OF 76 SCHOLARSHIPS WERE AWARDED IN 2022 TOTALING $201,871.
MENTORING: THE FOUNDATION OFFERS TWO MENTORING PROGRAMS. THROUGH THE WHITE COAT CAMPAIGN, THE FOUNDATION PROVIDES A WHITE COAT FOR EACH FIRST-YEAR MEDICAL STUDENT ATTENDING SCHOOL IN WISCONSIN ALONG WITH A LETTER OF WELCOME AND ENCOURAGEMENT FROM A DONOR PHYSICIAN. A TOTAL OF 439 WHITE COATS WERE AWARDED IN 4 CEREMONIES FROM EARLY JULY TO LATE AUGUST. THE FOUNDATION ALSO OFFERS OPERATION: EDUCATION, A FUN AND EDUCATIONAL PROGRAM HELD AT BOTH MEDICAL SCHOOLS. THIS BRINGS TOGETHER MEDICAL STUDENTS AND PHYSICIANS TO ENGAGE IN CONVERSATIONS ABOUT SPECIALTY AND PRIMARY CARE OPTIONS AVAILABLE TO THEM.
PUBLIC HEALTH:-GRANTS PROGRAMTHE FOUNDATION'S GRANTS PROGRAM IS ADMINISTERED THROUGH THE GRANT COMMITTEE. APPLICATIONS ARE ACCEPTED AND GRANTS ARE AWARDED FOR COMMUNITY HEALTH EDUCATION AND RESEARCH INITIATIVES. GRANT RECIPIENTS ARE REQUIRED TO REPORT BACK TO THE FOUNDATION ON RESULTS AND USE OF THE GRANT FUNDS. IN 2022, THE FOUNDATION AWARDED 17 GRANTS FOR A TOTAL OF $70,000.-SUMMER FELLOWSHIP PROGRAMTHE FOUNDATIONS' GRANT COMMITTEE ALSO ADMINISTERS THE FOUNDATION'S SUMMER FELLOWSHIP PROGRAM THAT OFFERS MEDICAL STUDENTS OPPORTUNITIES TO GAIN VALUABLE, HANDS-ON EXPERIENCE IN COMMUNITY HEALTH EDUCATION OR RESEARCH DURING MEDICAL SCHOOL. SEVEN FELLOWSHIPS WERE AWARDED TOTALING $24,500 IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Flesher Secretary (as Of 6/2022) | Officer | 1 | $0 |
Clyde Bud Chumbley MD Past Secretary, Director | OfficerTrustee | 1 | $0 |
Elizabeth Ringle Exec. Director (as Of 5/2022) | Officer | 37.5 | $86,812 |
Marje Murray Exec. Director (thru 5/2022) | Officer | 37.5 | $42,174 |
Jose Ortiz MD President (as Of 7/2022) | OfficerTrustee | 1 | $0 |
David Galbis-Reig MD Past President (thru 7/2022) | OfficerTrustee | 1 | $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 | $350,458 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $350,458 |
| Total Program Service Revenue | $109,375 |
| Investment income | $233,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$203,980 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $489,624 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,130 |
| Grants and other assistance to domestic individuals. | $226,829 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $143,861 |
| Compensation of current officers, directors, key employees. | $53,238 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,141 |
| Pension plan accruals and contributions | $5,304 |
| Other employee benefits | $16,036 |
| Payroll taxes | $14,062 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,434 |
| Fees for services: Other | $0 |
| Advertising and promotion | $19,317 |
| Office expenses | $9,775 |
| Information technology | $1,400 |
| Royalties | $0 |
| Occupancy | $4,151 |
| Travel | $1,336 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,742 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $786 |
| Insurance | $2,212 |
| All other expenses | $0 |
| Total functional expenses | $778,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $528,481 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,797 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,911,335 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,700 |
| Net Land, buildings, and equipment | $263 |
| Investments—publicly traded securities | $8,954,384 |
| Investments—other securities | $0 |
| Investments—program-related | $10,000 |
| Intangible assets | $0 |
| Other assets | $180,832 |
| Total assets | $12,590,792 |
| Accounts payable and accrued expenses | $36,217 |
| Grants payable | $0 |
| 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 | $63,506 |
| Total liabilities | $99,723 |
| Net assets without donor restrictions | $2,015,176 |
| Net assets with donor restrictions | $10,475,893 |
| 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 | $12,590,792 |
Grants Awarded
Over the last fiscal year, Wisconsin Medical Society Foundation Inc has awarded $22,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LATINO HEALTH COUNCIL OF DANE COUNTY PURPOSE: MENTAL HEALTH TRAINING FOR DIRECTORS/STAFF | $10,000 |
WISCONSIN MEDICAL SOCIETY INC PURPOSE: CONTINUING MEDICAL EDUCATION ON JEDI | $12,000 |