Wound Healing Society
- Assets
- $1.3m
- Revenue
- $337.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Beverly, MA
- Founding
- 09/1990
- Data as of
- 12/2021
- EIN
- 54-1543698
Organization Overview
Wound Healing Society is located in Beverly, MA. The organization was established in 1990. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wound Healing Society 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, Wound Healing Society generated $337.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $278.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PREMIER SCIENTIFIC ORGANIZATION FOCUSED ON THE ADVANCEMENT AND PRACTICE OF WOUND HEALING.
Describe the Organization's Program Activity:
ANNUAL AND OTHER SCIENTIFIC MEETINGS: THESE PROVIDE A MEDICAL RELATED SCIENTIFIC FORUM TO DISCUSS DEVELOPMENTS AND RESEARCH IN THE AREA OF WOUND HEALING.
FALL SYMPOSIUM AND REGIONAL MEETINGS GRANTS
PUBLICATIONS: PUBLICATION OF SCIENTIFIC JOURNAL WOUND REPAIR AND REGENERATION WHICH UPDATES THE MEDICAL PROFESSION OF DEVELOPMENTS AND RESEARCH IN THE AREA OF WOUND HEALING.
OFFICERS AND COMMITTEES: EXPENSES RELATED TO THE GOVERNANCE AND OVERSIGHT OF THE SOCIETY'S EDUCATIONAL INITIATIVES INCLUDING KEEPING THE MEMBERSHIP INFORMED OF ITS OWN AND OTHER MEDICAL SOCIETY DEVELOPMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Liechty President/pr | OfficerTrustee | 2 | $0 |
Traci Wilgus President-El | OfficerTrustee | 2 | $0 |
Sundeep Keswani Vice Preside | OfficerTrustee | 2 | $0 |
Alan Wells Past Pres/pr | OfficerTrustee | 2 | $0 |
Praveen Arany Secretary | OfficerTrustee | 2 | $0 |
Herbert B Slade Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,048 |
| Investment income | $20,745 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $50,027 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,906 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $337,084 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $500 |
| 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 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 | $103,927 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,706 |
| Fees for services: Other | $52,000 |
| Advertising and promotion | $0 |
| Office expenses | $6,214 |
| Information technology | $7,500 |
| 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 | $8,216 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,834 |
| All other expenses | $0 |
| Total functional expenses | $278,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $181,916 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,113 |
| 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 | $5,042 |
| Investments—publicly traded securities | $1,137,485 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,344,556 |
| Accounts payable and accrued expenses | $8,000 |
| Grants payable | $0 |
| Deferred revenue | $17,415 |
| 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 | $25 |
| Total liabilities | $25,440 |
| Net assets without donor restrictions | $1,314,498 |
| Net assets with donor restrictions | $4,618 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,319,116 |
Grants Awarded
Over the last fiscal year, Wound Healing Society has awarded $31,066 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WOUND HEALING FOUNDATION PURPOSE: GENERAL SUPPORT | $11,066 |
UC REGENTS PURPOSE: WHS FALL SYMPOSIUM | $20,000 |