North Carolina Medical Society 203
- Assets
- $12.7m
- Revenue
- $4.9m
- Investments
- $3.5m
- Employees
- 36
- Location
- Raleigh, NC
- Founding
- 09/1944
- Data as of
- 12/2023
- EIN
- 56-0320130
Organization Overview
North Carolina Medical Society 203 is located in Raleigh, NC. The organization was established in 1944. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2023, North Carolina Medical Society 203 employed 36 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. North Carolina Medical Society 203 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 12/2023, North Carolina Medical Society 203 generated $4.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $6.0m during the year ending 12/2023. While expenses have increased by 3.3% per year over the past 9 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.
Since 2015, North Carolina Medical Society 203 has awarded 33 individual grants totaling $386,071. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ORGANIZE MEMBERS OF THE MEDICAL PROFESSION TO ADVANCE MEDICAL SCIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OLDEST PROFESSIONAL ORGANIZATION WITHIN THE STATE. THE NORTH CAROLINA MEDICAL SOCIETY (NCMS) BEGAN IN 1849 WHEN 25 PHYSICIANS UNITED TO ADVANCE MEDICAL SCIENCE AND TO RAISE THE STANDARDS FOR THEIR PROFESSION. TODAY, WE ARE MORE THAN 10,000 STRONG AND CHAMPION THE SAME GOALS AND IDEALS WHILE REPRESENTING THE INTERESTS OF PHYSICIANS AND PROTECTING THE QUALITY OF PATIENT CARE.
THE NORTH CAROLINA MEDICAL SOCIETY EMPLOYEE BENEFIT PLAN (NCMS PLAN) IS THE ONLY STATEWIDE EMPLOYEE BENEFITS PLAN DESIGNED SPECIFICALLY FOR NORTH CAROLINA PHYSICIANS AS A BENEFIT OF SOCIETY MEMBERSHIP.
LAST YEAR, WE RECEIVED FUNDING FROM THE NORTH CAROLINA DEPARTMENT OF HEALTH AND HUMAN SERVICES (NCDHHS) IN THE AMOUNT OF $1,500,000. FUNDS IN THE AMOUNT OF $951,527 WERE DISBURSED TO THE NEUROIMMUNE FOUNDATION IN CALENDAR YEAR 2022. IN DECEMBER OF 2022, THE NCMS COMPLETED A CONTRACT WITH STANFORD AND DISBURSED $508,762 IN FUNDS TO STANFORD UNIVERSITY THE FIRST WEEK OF JANUARY 2023. NCMS EXPENSES RELATED TO THIS GRANT WERE $39,711. THE NORTH CAROLINA MEDICAL SOCIETY (NCMS) IS MONITORING EXPENDITURES ACCORDING TO THE GRANT CONTRACT AND BUDGET ON A QUARTERLY BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arthur E Apololinario MD Past President | Trustee | 0.5 | $0 |
Micheal Utecht MD Member | Trustee | 0.5 | $0 |
Claudius Jarrett MD Member | Trustee | 0.5 | $0 |
Charul Haugan MD Member | Trustee | 0.5 | $0 |
Rachel Keever MD Member | Trustee | 0.5 | $0 |
John J Meier IV MD President-Elect | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Smith Anderson Blount Dorsett Mitche Legal | 12/30/17 | $248,201 |
Theo Davis Printing Inc Printing | 12/30/17 | $121,860 |
Grandover Resort & Conference Ctr Conference Space | 12/30/17 | $109,068 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $574,069 |
| All other contributions, gifts, grants, and similar amounts not included above | $115,275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $689,344 |
| Total Program Service Revenue | $3,982,446 |
| Investment income | $233,796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$91,189 |
| Net Gain/Loss on Asset Sales | $71,023 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,885,420 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $586,040 |
| 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. | $799,757 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,338,817 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $406,441 |
| Payroll taxes | $208,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $201,928 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $224,257 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,985 |
| Fees for services: Other | $84,791 |
| Advertising and promotion | $0 |
| Office expenses | $32,536 |
| Information technology | $170,452 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $81,097 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $245,067 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $143,837 |
| Insurance | $65,273 |
| All other expenses | $103,851 |
| Total functional expenses | $5,971,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $662,134 |
| Savings and temporary cash investments | $678,865 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $596,071 |
| 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 | $33,571 |
| Net Land, buildings, and equipment | $3,364,630 |
| Investments—publicly traded securities | $3,868,116 |
| Investments—other securities | $3,493,566 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,696,953 |
| Accounts payable and accrued expenses | $504,812 |
| Grants payable | $0 |
| Deferred revenue | $951,966 |
| 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 | $107,144 |
| Total liabilities | $1,563,922 |
| Net assets without donor restrictions | $11,133,031 |
| 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 | $12,696,953 |
Grants Awarded
Over the last fiscal year, North Carolina Medical Society 203 has awarded $191,071 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
DOCTORS MAKING HOUSECALLS PURPOSE: TO ALLEVIATE SHORTAGE OF PPE | $6,593 |
DIGESTIVE HEALTH PARTNERS PURPOSE: TO ALLEVIATE SHORTAGE OF PPE | $4,998 |
NORTH CAROLINA INSTITUTE OF MEDICINE PURPOSE: NORTH CAROLINA MEDICAL JOURNAL SUPPORT | $5,000 |
EASTERN RADIOLOGISTS INC PURPOSE: TO ALLEVIATE SHORTAGE OF PPE | $6,990 |
HENDERSONVILLE PEDIATRICS PA PURPOSE: TO ALLEVIATE SHORTAGE OF PPE | $6,990 |
HIGH POINT NEPHROLOGY ASSOCIATES PC PURPOSE: TO ALLEVIATE SHORTAGE OF PPE | $6,529 |