Richmond Academy Of Medicine Inc
- Assets
- $6.8m
- Revenue
- $2.3m
- Investments
- $30.0k
- Employees
- 18
- Location
- Richmond, VA
- Founding
- 04/1938
- Data as of
- 12/2021
- EIN
- 54-0356395
Organization Overview
Richmond Academy Of Medicine Inc is located in Richmond, VA. The organization was established in 1938. According to its NTEE Classification (E99) the organization is classified as: Health Care N.E.C., under the broad grouping of Health Care and related organizations. As of 12/2021, Richmond Academy Of Medicine Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond Academy Of Medicine Inc 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, Richmond Academy Of Medicine Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. 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
PROMOTE SCIENCE & PRACTICE OF MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE SCIENCE AND PRACTICE OF MEDICINE AND SURGERY BY COMMUNICATING TO THE GENERAL PUBLIC THROUGH AWARENESS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James G Beckner Ex. Dir.-Ram, Ccvs, An, Sc | Officer | 17 | $166,233 |
Mark B Monahan MD Immediate Past President | OfficerTrustee | 1 | $0 |
Carolyn Burns MD President | OfficerTrustee | 1 | $0 |
Sidney R Jones III MD Vice President | OfficerTrustee | 1 | $0 |
Jake O'shea MD Treasurer | OfficerTrustee | 1 | $0 |
Tovia Smith MD Secretary | OfficerTrustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,075,674 |
| Investment income | $147,753 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $33,596 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $882,019 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,333,231 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $56,300 |
| 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. | $188,595 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $367,340 |
| Pension plan accruals and contributions | $13,470 |
| Other employee benefits | $36,754 |
| Payroll taxes | $39,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $600 |
| Fees for services: Accounting | $70,731 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,860 |
| Fees for services: Other | $2,204 |
| Advertising and promotion | $0 |
| Office expenses | $60,501 |
| Information technology | $17,717 |
| Royalties | $0 |
| Occupancy | $130,683 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,063 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,939 |
| Insurance | $4,837 |
| All other expenses | $1,132 |
| Total functional expenses | $1,139,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113 |
| Savings and temporary cash investments | $1,752,661 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,580 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $696,664 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $27,964 |
| Net Land, buildings, and equipment | $73,518 |
| Investments—publicly traded securities | $4,062,141 |
| Investments—other securities | $30,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $180,870 |
| Total assets | $6,826,511 |
| Accounts payable and accrued expenses | $48,868 |
| Grants payable | $0 |
| Deferred revenue | $268,102 |
| 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 | $72,649 |
| Total liabilities | $389,619 |
| Net assets without donor restrictions | $6,436,892 |
| 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 | $6,826,511 |
Grants Awarded
Over the last fiscal year, Richmond Academy Of Medicine Inc has awarded $56,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, VA PURPOSE: ORGANIZATION SUPPORT | $50,000 |
Richmond, VA PURPOSE: ORGANIZATION SUPPORT | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Richmond Academy Of Medicine Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Bon Secours St Marys Hospital Of Richmond Llc Richmond, VA PURPOSE: MISSION SUPPORT | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Healthcare Access Maryland Inc Baltimore, MD | $7,425,097 | $18,316,703 |
Qsource Memphis, TN | $27,560,294 | $14,798,417 |
North Carolina Alliance Of Public Health Agencies Inc Raleigh, NC | $4,947,207 | $12,977,982 |
Omnipath Inc Paducah, KY | $660,564 | $9,841,059 |
Home Care Partners Inc Washington, DC | $5,019,390 | $9,648,122 |
Zero Prostate Cancer Alexandria, VA | $7,871,432 | $10,066,484 |
Interfaith Dental Clinic Of Nashville Nashville, TN | $11,283,071 | $7,836,230 |
American Medical Informatics Association Inc Rockville, MD | $9,361,102 | $6,613,417 |
National Pace Association Alexandria, VA | $5,227,385 | $6,590,874 |
National Indian Health Board Washington, DC | $4,076,098 | $6,827,428 |
Warwick Manor Behavioral Health Inc East New Market, MD | $5,114,240 | $7,017,566 |
Hereditary Angioedema Association Inc Fairfax, VA | $9,129,787 | $7,202,295 |