Medical Society Of Virginia Foundation
- Assets
- $7.0m
- Revenue
- $7.4m
- Investments
- $1.2m
- Employees
- 8
- Location
- Richmond, VA
- Founding
- 07/1985
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Medical Society Of Virginia Foundation generated $7.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 39.1% each year . All expenses for the organization totaled $6.9m during the year ending 12/2022. While expenses have increased by 38.1% per year over the past 8 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
2022
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Pletke MD President | OfficerTrustee | 2 | $0 |
Jose Morey MD Vice President | OfficerTrustee | 2 | $0 |
Mark D Townsend MD Treasurer | OfficerTrustee | 2 | $0 |
Raymond L Mccue MD Secretary | OfficerTrustee | 2 | $0 |
David K Chow MD Director | Trustee | 2 | $0 |
Alvin E Harris MD Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $137,570 |
| Related organizations | $275,570 |
| Government grants | $6,713,773 |
| All other contributions, gifts, grants, and similar amounts not included above | $260,260 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,387,173 |
| Total Program Service Revenue | $0 |
| Investment income | $13,208 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$32,605 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,384,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,599 |
| 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 | $1,698,660 |
| Pension plan accruals and contributions | $5,510 |
| Other employee benefits | $49,133 |
| Payroll taxes | $12,237 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,630 |
| Fees for services: Accounting | $14,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,058 |
| Fees for services: Other | $2,945,738 |
| Advertising and promotion | $14,100 |
| Office expenses | $59,184 |
| Information technology | $723,281 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,213 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,324 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $35,743 |
| Total functional expenses | $6,856,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,620,977 |
| Savings and temporary cash investments | $651,528 |
| Pledges and grants receivable | $3,021,054 |
| 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 | $498,924 |
| Investments—other securities | $1,180,417 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,973,763 |
| Accounts payable and accrued expenses | $1,206,876 |
| Grants payable | $0 |
| Deferred revenue | $300 |
| 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 | $1,271,949 |
| Total liabilities | $2,479,125 |
| Net assets without donor restrictions | $4,294,638 |
| Net assets with donor restrictions | $200,000 |
| 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 | $6,973,763 |