South Carolina Medical Association Foundation
- Assets
- $2.9m
- Revenue
- $977.7k
- Investments
- $1.8m
- Employees
- 0
- Location
- Columbia, SC
- Founding
- 05/1977
- Data as of
- 06/2021
- EIN
- 57-0168534
Organization Overview
South Carolina Medical Association Foundation is located in Columbia, SC. The organization was established in 1977. According to its NTEE Classification (H12) the organization is classified as: Fund Raising & Fund Distribution, 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. South Carolina Medical Association 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 06/2021, South Carolina Medical Association Foundation generated $977.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, South Carolina Medical Association Foundation has awarded 43 individual grants totaling $860,000. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE WORTHWHILE SOCIAL AND PROFESSIONAL ACTIVITIES IN THE FIELD OF MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL AWARDS AND SCHOLARSHIPS.
PATIENT-CENTERED MEDICAL HOME (PCMH) INITIATIVE. THE FOUNDATION HAS RECEIVED GRANT FUNDING FROM THE SOUTH CAROLINA DEPARTMENT OF HEALTH AND HUMAN SERVICES TO PROVIDE FREE EDUCATIONAL, CONSULTING, AND COACHING SERVICES TO PHYSICIAN PRACTICES SEEKING RECOGNITION FROM THE NATIONAL COMMITTEE FOR QUALITY ASSURANCE (NCQA) AS A PCMH.
CHARITABLE GIFT ANNUITY PLAN.
OTHER PROGRAM SERVICES: BURN OUT GRANT, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael T Finch Jr MD Pres. 7/20-4/21; Past Pres. 4/21-6/21 | OfficerTrustee | 1 | $0 |
John C Ropp III MD Pres-Elect 7/20-4/21;pres. 4/21-6/21 | OfficerTrustee | 1 | $0 |
Henry Fritz Butehorn III MD Vicechair 7/20-4/21; Chair 4/21-6/21 | OfficerTrustee | 1 | $0 |
M Mayes Dubose MD Chair 7/20-4/21; Treasurer 4/21-6/21 | OfficerTrustee | 1 | $0 |
Christopher A Yeakel MD Faap Treas. 7/20-4/21;preselect 4/21-6/21 | OfficerTrustee | 1 | $0 |
Michelle C Bolin Cfo/coo | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $207,845 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $765,988 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $973,833 |
| Total Program Service Revenue | $408 |
| Investment income | $1,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $977,722 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,980 |
| Grants and other assistance to domestic individuals. | $38,475 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,978 |
| Fees for services: Accounting | $21,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,216 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,656 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $88 |
| Insurance | $2,248 |
| All other expenses | $0 |
| Total functional expenses | $1,291,932 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $960,411 |
| Savings and temporary cash investments | $100,362 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,667 |
| 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 | $1,815 |
| Net Land, buildings, and equipment | $209 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,787,685 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,934,149 |
| Accounts payable and accrued expenses | $79,108 |
| Grants payable | $0 |
| Deferred revenue | $104,945 |
| 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 | $8,285,821 |
| Total liabilities | $8,469,874 |
| Net assets without donor restrictions | -$6,188,478 |
| Net assets with donor restrictions | $652,753 |
| 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 | $2,934,149 |
Grants Awarded
Over the last fiscal year, South Carolina Medical Association Foundation has awarded $200,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Greenwood, SC PURPOSE: PATIENT-CENTERED MEDICAL HOME INITIATIVE | $20,000 |
BEAUFORT PEDIATRICS PURPOSE: PATIENT-CENTERED MEDICAL HOME INITIATIVE | $20,000 |
THE PEDIATRIC CLINIC PURPOSE: PATIENT-CENTERED MEDICAL HOME INITIATIVE | $20,000 |
THE CHILDREN'S MEDICAL CENTER PURPOSE: PATIENT-CENTERED MEDICAL HOME INITIATIVE | $20,000 |
SOUTHERN MEDICAL MGMT PURPOSE: PATIENT-CENTERED MEDICAL HOME INITIATIVE | $20,000 |
PELICAN PEDIATRICS LLC PURPOSE: PATIENT-CENTERED MEDICAL HOME INITIATIVE | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that South Carolina Medical Association Foundation has recieved totaling $80,000.
| Awarding Organization | Amount |
|---|---|
The Physicians Foundation Inc Austin, TX PURPOSE: TO ADDRESS BURNOUT AMONG THE STATE'S PHYSICIANS BY PROVIDING TRAINING AND SUPPORT FOR IMPLEMENTING PRACTICE-LEVEL CHANGES | $80,000 |
Endowment Analysis
| Beg. Balance | $783,785 |
| Earnings | $1,910 |
| Net Contributions | $20,675 |
| Grants | $38,000 |
| Ending Balance | $768,370 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Research Triangle Foundation Of North Carolina Research Triangle Park, NC | $210,917,305 | $40,089,804 |
South Carolina Medical Association Foundation Columbia, SC | $2,934,149 | $977,722 |
Regenmed Development Organization Winstonsalem, NC | $1,918,667 | $1,082,279 |
Fore Batten Foundation Chapel Hill, NC | $1,880,374 | $1,570,342 |
Isakson Initiative Inc Atlanta, GA | $1,622,312 | $1,140,837 |
Paula Takacs Foundation For Sarcoma Research Weddington, NC | $577,201 | $617,474 |
A Cure In Sight Raleigh, NC | $90,213 | $324,456 |
Challenge To Conquer Cancer Greenville, SC | $15,012 | $206,385 |
Megs Smile Foundation Inc Holly Springs, NC | $388,009 | $280,550 |
Champ Foundation Durham, NC | $431,396 | $187,225 |
Jim Catfish Hunter Als Foundation Hertford, NC | $482,566 | $107,039 |
Carson Sarcoma Foundation Asheville, NC | $256,564 | $283,758 |