Medical Society Of Delaware
- Assets
- $7.3m
- Revenue
- $1.5m
- Investments
- $5.6m
- Employees
- 18
- Location
- Newark, DE
- Founding
- 10/1947
- Data as of
- 12/2021
- EIN
- 51-0061011
Organization Overview
Medical Society Of Delaware is located in Newark, DE. The organization was established in 1947. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2021, Medical Society Of Delaware employed 18 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Medical Society Of Delaware 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 12/2021, Medical Society Of Delaware generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE ART & SCIENCE OF MEDICINE AMONG OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE SOCIETY IS TO PROMOTE THE ART & SCIENCE OF MEDICINE AMONG ITS MEMBERS AND TO UPHOLD THE IDEALS AND THE ETHICAL PRINCIPLES OF THE MEDICAL PROFESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Thompson Executive Director | Officer | 40 | $147,656 |
Matthew J Burday DO President | OfficerTrustee | 1 | $27,500 |
Joseph J Straight MD Immediate Past President | OfficerTrustee | 1 | $15,000 |
Robert J Varipapa MD President-Elect | OfficerTrustee | 1 | $0 |
Bhavin R Dave MD Vice President | OfficerTrustee | 1 | $0 |
Brian J Galinat MD Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $503,195 |
| Fundraising events | $0 |
| Related organizations | $145,365 |
| Government grants | $410,499 |
| 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 | $1,059,059 |
| Total Program Service Revenue | $397,475 |
| Investment income | $0 |
| 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 | $1,518,541 |
| 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. | $185,305 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $678,564 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,697 |
| Payroll taxes | $38,200 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,775 |
| Fees for services: Accounting | $9,350 |
| Fees for services: Lobbying | $42,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $138,213 |
| Advertising and promotion | $0 |
| Office expenses | $35,281 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,800 |
| Travel | $2,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,700 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $39,123 |
| All other expenses | $600 |
| Total functional expenses | $1,550,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $415,408 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,340,876 |
| 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 | $15,046 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,570,768 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,342,098 |
| Accounts payable and accrued expenses | $6,512,989 |
| Grants payable | $0 |
| Deferred revenue | $419,214 |
| 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 | $6,932,203 |
| Net assets without donor restrictions | $409,895 |
| 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 | $7,342,098 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Medical Society Of Delaware has recieved totaling $136,432.
| Awarding Organization | Amount |
|---|---|
Delaware Foundation For Medical Services Ltd Newark, DE PURPOSE: THE ORGANIZATION PROVIDES GRANTS TO ITS SUPPORTED ORGANIZATION TO HELP FURTHER DFMS'S PROGRAMS. | $136,432 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grand View - Lehigh Valley Health Services Sellersville, PA | $1,306,518 | $2,758,169 |
Medical Professional Liability Association Rockville, MD | $4,011,687 | $4,616,937 |
American Board Of Ophthalmology Doylestown, PA | $11,729,185 | $5,597,359 |
Amda-The Society For Post-Acute And Long-Term Care Medicine Inc Columbia, MD | $3,545,749 | $4,167,777 |
Pennsylvania Dental Association Harrisburg, PA | $21,759,277 | $13,492,593 |
American Board Of Plastic Surgery Inc Philadelphia, PA | $10,377,925 | $3,692,721 |
American Association Of Feline Practitioners Bridgewater, NJ | $2,633,101 | $2,996,348 |
Maryland State Dental Association Columbia, MD | $1,739,612 | $2,132,601 |
Catholic Medical Association Fort Washington, PA | $757,837 | $1,642,943 |
Medical Society Of Delaware Newark, DE | $7,342,098 | $1,518,541 |
Old Bridge Township Emergency Medical Services Inc Old Bridge, NJ | $523,679 | $1,392,710 |
Association Of Pathology Chairs Inc Wilmington, DE | $2,155,491 | $986,725 |