Medical Society Of Virginia Foundation
- Assets
- $6.2m
- Revenue
- $5.9m
- Investments
- $1.8m
- Employees
- 8
- Location
- Richmond, VA
- Founding
- 07/1985
- Data as of
- 12/2021
- EIN
- 52-1394768
Organization Overview
Medical Society Of Virginia Foundation is located in Richmond, VA. The organization was established in 1985. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2021, Medical Society Of Virginia Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Society Of Virginia 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 12/2021, Medical Society Of Virginia Foundation generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 41.1% each year . All expenses for the organization totaled $4.0m during the year ending 12/2021. While expenses have increased by 33.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 BETTER EQUIP THE PHYSICIAN COMMUNITY TO IMPROVE THE HEALTH OF VIRGINIANS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL LEADERSHIP: TO PROVIDE A TRUSTED SOURCE OF LEADERSHIP DEVELOPMENT FOR VIRGINIA'S PHYSICIANS, WITH A GOAL OF EFFECTIVELY ADVANCING HEALTH AND HEALTH CARE IN VIRGINIA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark D Townsend MD Treasurer | OfficerTrustee | 2 | $0 |
Steven Lewis MD Secretary | OfficerTrustee | 2 | $0 |
Varun Choudhary MD President | OfficerTrustee | 2 | $0 |
Patricia Pletke MD Vice President | OfficerTrustee | 2 | $0 |
Larry G Mitchell MD Msv Secretary-Treasurer | Trustee | 2 | $0 |
Jose M Morey MD Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $144,893 |
| Related organizations | $25,000 |
| Government grants | $5,424,847 |
| All other contributions, gifts, grants, and similar amounts not included above | $142,877 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,737,617 |
| Total Program Service Revenue | $0 |
| Investment income | $15,520 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $94,647 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,868,321 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $700 |
| 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 | $1,382,290 |
| Pension plan accruals and contributions | $4,741 |
| Other employee benefits | $47,242 |
| Payroll taxes | $9,538 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,376 |
| Fees for services: Other | $2,335,100 |
| Advertising and promotion | $4,135 |
| Office expenses | $14,471 |
| Information technology | $17,147 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,429 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,447 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,278 |
| Total functional expenses | $3,994,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,239,273 |
| Savings and temporary cash investments | $478,081 |
| Pledges and grants receivable | $2,140,175 |
| 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 | $863 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $589,403 |
| Investments—other securities | $1,754,021 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,201,816 |
| Accounts payable and accrued expenses | $952,953 |
| 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 | $1,218,704 |
| Total liabilities | $2,171,657 |
| Net assets without donor restrictions | $3,955,159 |
| Net assets with donor restrictions | $75,000 |
| 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 | $6,201,816 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Medical Society Of Virginia Foundation has recieved totaling $60,059.
| Awarding Organization | Amount |
|---|---|
National Foundation For The Ctrs For Disease Contr & Prevention Inc Atlanta, GA PURPOSE: EMERGENCY RESPONSE FUND-CORONAVIRUS | $60,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $59 |
Endowment Analysis
| Beg. Balance | $25,000 |
| Earnings | $161 |
| Other Expense | $161 |
| Ending Balance | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Construction Industry Of Kansas Health & Welfare Trust Fund Agreem Lexington, KY | $4,313,780 | $19,547,175 |
Carpenters Health Fund Of West Virginia Ona, WV | $33,945,838 | $18,485,815 |
Baptist Memorial Health Care Foundation Memphis, TN | $704,887,527 | $54,101,503 |
Sheltering Arms Foundation Mechanicsville, VA | $205,278,403 | $11,542,533 |
Childrens Hospital Foundation Louisville, KY | $121,952,447 | $19,774,743 |
Le Bonheur Childrens Hospital Foundation Memphis, TN | $96,675,707 | $25,710,554 |
Rowan Regional Medical Center Foundation Inc Winston Salem, NC | $63,491,170 | $11,479,503 |
Bath Community Hospital Foundation Hot Springs, VA | $25,068,775 | $7,394,465 |
Communicare Services Elizabethtown, KY | $10,036,197 | $20,763,461 |
Johns Hopkins All Childrens Foundation Inc Baltimore, MD | $150,122,516 | $24,043,790 |
Potomac Health Foundation Woodbridge, VA | $124,789,436 | $8,932,196 |
Washington Wholesalers Health And Welfare Fund Columbia, MD | $20,227,407 | $10,192,011 |