Richmond Academy Of Medicine Trust
- Assets
- $39.7k
- Revenue
- $150.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 09/1975
- Data as of
- 10/2023
- EIN
- 51-0160045
Organization Overview
Richmond Academy Of Medicine Trust is located in Richmond, VA. The organization was established in 1975. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond Academy Of Medicine Trust 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 10/2023, Richmond Academy Of Medicine Trust generated $150.2k 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 (6.1%) each year. All expenses for the organization totaled $234.2k during the year ending 10/2023. 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 RICHMOND ACADEMY OF MEDICINE TRUST INSPIRES PHILANTHROPY AND MOBILIZES RESOURCES TO ENRICH LIVES IN THE GREATER RICHMOND METROPOLITAN REGION BY SUPPORTING SCIENTIFIC PROGRAMS AND CHARITABLE SERVICES THAT IMPROVE THE HEALTH STATUS OF THE COMMUNITY, INCREASE THE KNOWLEDGE, SKILLS, AND ABILITIES OF HEALTHCARE PROFESSIONALS, FURTHER THE ADVANCEMENT AND ADOPTION OF BEST PRACTICES BY THE HEALTHCARE COMMUNITY, EDUCATE CONSUMERS AND BUSINESSES ABOUT HEALTHCARE ACCESS, AFFORDABILITY AND QUALITY, SUPPORT RESEARCH, AND PRESERVE THE HISTORY OF MEDICINE FOR THE BENEFIT OF THE PROFESSION AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GALA: 200TH YEAR ANNIVERSARY CELEBRATION GALA OF THE RICHMOND ACADEMY OF MEDICINE.
LOVING LUNCHES RVA: EXISTING TO THANK AND SUPPORT MEDICAL AND SUPPORT STAFF INVOLVED IN THE DIAGNOSIS AND CARE OF PATIENTS WITH COVID-19 WHILE SIMULTANEOUSLY BOOSTING THE LOCAL FOOD SERVICE ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter A Zedler MD President | OfficerTrustee | 5 | $0 |
Harry S Bear MD Vice President | OfficerTrustee | 1 | $0 |
Ritsu Kuno MD Secretary/treasurer | OfficerTrustee | 1 | $0 |
Richard A Szucs MD Director | Trustee | 1 | $0 |
James G Beckner Ex. Dir-Ram, Ccvs, An, Sc, | Officer | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $50,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,128 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,128 |
| Total Program Service Revenue | $38,010 |
| 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 | $54,100 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $150,238 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $54,100 |
| 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. | $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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $173,700 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,659 |
| All other expenses | $0 |
| Total functional expenses | $234,159 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,263 |
| 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 | $1,473 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $39,736 |
| Accounts payable and accrued expenses | $30 |
| 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 | $0 |
| Total liabilities | $30 |
| Net assets without donor restrictions | $21,708 |
| Net assets with donor restrictions | $17,998 |
| 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 | $39,736 |