Family Medicine Midwest Foundation
- Assets
- $265.6k
- Revenue
- $194.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Bolingbrook, IL
- Founding
- 06/2013
- Data as of
- 09/2023
- EIN
- 46-1777069
Organization Overview
Family Medicine Midwest Foundation is located in Bolingbrook, IL. The organization was established in 2013. According to its NTEE Classification (H03) the organization is classified as: Professional Societies & Associations, 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. Family Medicine Midwest 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 09/2023, Family Medicine Midwest Foundation generated $194.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $223.2k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE SCHOLARLY WORKS AND WORKFORCE DEVELOPMENT IN FAMILY MEDICINE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HOLDS AN ANNUAL CONFERENCE WHICH ATTRACTS FAMILYPHYSICIAN FACULTY, MEDICAL STUDENTS AND FAMILY MEDICINE PHYSICIANS TOPRESENT CLINICAL RESEARCH, CONDUCT FACULTY DEVELOPMENT EDUCATION ANDPROVIDE WORKSHOP TRAINING ON MEDICAL PROCEDURES. THE CONFERENCE AIMS TOINSPIRE MEDICAL STUDENTS TO CHOOSE MIDWEST FAMILY MEDICINE RESIDENCYPROGRAMS, PROVIDE A FORMAT FOR RESIDENTS TO PRESENT, TO LEARN FROM EACHOTHER AND FROM FACULTY PRESENTERS, TO SHOWCASE THE VARIETY OF CAREEROPPORTUNITIES IN FAMILY MEDICINE AND TO PROVIDE A PLATFORM TO SHAREIDEAS, BEST PRACTICES AND BUILD REGIONAL NETWORKS DEDICATED TO IMPROVETHE HEALTH OF ALL PATIENTS. THE FOUNDATION ALSO PROVIDES SCHOLARSHIPSTO MEDICAL STUDENTS TO ATTEND THE CONFERENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacob Prunuske Chair | OfficerTrustee | 0.25 | $0 |
Thomas Hahn Vice Chair | OfficerTrustee | 0.25 | $0 |
Andrew Slattengren Treasurer | Trustee | 0.25 | $0 |
Kathleen M Macken Emeritus | Trustee | 0.25 | $0 |
Janice Benson Emeritus | Trustee | 0.25 | $0 |
Alicia Vazquez Director | Trustee | 0.25 | $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 | $68,326 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,326 |
| Total Program Service Revenue | $123,715 |
| Investment income | $2,077 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $194,518 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $17,100 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $97,494 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,243 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,815 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $3,900 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $83,828 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,851 |
| Total functional expenses | $223,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,166 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $24,021 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $50,881 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $265,568 |
| Accounts payable and accrued expenses | $28,520 |
| Grants payable | $0 |
| Deferred revenue | $146,891 |
| 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 | $215,340 |
| Total liabilities | $390,751 |
| Net assets without donor restrictions | -$125,183 |
| 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 | $265,568 |