Medical Society Of S C
- Assets
- $559.5m
- Revenue
- $46.8m
- Investments
- $0.0
- Employees
- 2
- Location
- Charleston, SC
- Founding
- 04/1979
- Data as of
- 12/2022
- EIN
- 57-0288358
Organization Overview
Medical Society Of S C is located in Charleston, SC. The organization was established in 1979. 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 S C employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Society Of S C 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 S C generated $46.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $8.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Medical Society Of S C has awarded 111 individual grants totaling $9,520,800. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH OF OUR COMMUNITY THROUGH CLINICAL EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
- INCOME IS DESIGNATED FOR THE CONTINUING SUPPORT OF THE ROPER ST. FRANCES HEALTHCARE MISSION IN THE COMMUNITY. - THE MEDICAL SOCIETY OF SC PARTICIPATES IN GRANT MAKING PROGRAMS IN THE COMMUNITY WHICH PROVIDE FUNDING TO BE USED TOWARDS EDUCATION IN THE MEDICAL FIELD. - IN ADDITION, THE MEDICAL SOCIETY PROVIDES FUNDING FOR UPGRADES AND IMPROVEMENTS TO THE HOSPITAL SYSTEM.- LASTLY, THE MEDICAL SOCIETY PROCURES AND CONSTRUCTS PROPERTIES WHICH ARE UTILIZED BY THE HOSPITAL SYSTEM TO FURTHER ITS MISSION TO HEAL ALL PEOPLE WITH COMPASSION, FAITH, AND EXCELLENCE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Henry C West President | OfficerTrustee | 1 | $75,000 |
Jonathan Donaldson MD Secretary-Treasurer | OfficerTrustee | 1 | $0 |
J Rick Mcevoy MD Vice President | OfficerTrustee | 1 | $0 |
Brian G Cuddy MD Director | OfficerTrustee | 1 | $0 |
David M Ellison MD Director | Trustee | 1 | $0 |
Susan Datta MD Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Womble Carlyle Sandridge & Rice Legal Services | 12/30/19 | $449,149 |
Rogers Townsend And Thomas Pc Legal Services | 12/30/19 | $229,829 |
Cambridge Associates Llc Portfolio Managment | 12/30/19 | $203,695 |
Dixon Hughes Goodman Llp Accounting Services | 12/30/19 | $105,915 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $55,750 |
| 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 | $55,750 |
| Total Program Service Revenue | $0 |
| Investment income | $5,722,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,125,581 |
| Net Gain/Loss on Asset Sales | $35,264,260 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,820,067 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $628,526 |
| 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. | $444,863 |
| Compensation of current officers, directors, key employees. | $88,973 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,212 |
| Pension plan accruals and contributions | $13,337 |
| Other employee benefits | $0 |
| Payroll taxes | $20,716 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78,470 |
| Fees for services: Accounting | $81,302 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $750,026 |
| Fees for services: Other | $30,445 |
| Advertising and promotion | $0 |
| Office expenses | $104,776 |
| Information technology | $8,452 |
| Royalties | $0 |
| Occupancy | $26,351 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $240,813 |
| Interest | $3,059,340 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,648,260 |
| Insurance | $70,255 |
| All other expenses | $0 |
| Total functional expenses | $8,216,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,305,599 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $436,224 |
| 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 | $0 |
| Net Land, buildings, and equipment | $75,091,333 |
| Investments—publicly traded securities | $181,016,931 |
| Investments—other securities | $0 |
| Investments—program-related | $287,620,350 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $559,470,437 |
| Accounts payable and accrued expenses | $1,535,750 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $79,308,459 |
| 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 | $0 |
| Total liabilities | $80,844,209 |
| Net assets without donor restrictions | $478,626,228 |
| 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 | $559,470,437 |
Grants Awarded
Over the last fiscal year, Medical Society Of S C has awarded $150,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: OPERATIONAL SUPPORT | $10,750 |
ARK PURPOSE: OPERATIONAL SUPPORT | $10,000 |
ASSOCIATION FOR THE BLIND & VISUALLY IMPAIRED SOUTH CAROLINA (ABVI) PURPOSE: OPERATIONAL SUPPORT | $10,000 |
BARRIER ISLAND FREE MEDICAL CLINIC PURPOSE: OPERATIONAL SUPPORT | $9,500 |
CHILDREN IN CRISIS DBA CHILDREN'S ADVOCACY CENTER PURPOSE: OPERATIONAL SUPPORT | $20,000 |
CLOSING THE GAP IN HEALTHCARE PURPOSE: OPERATIONAL SUPPORT | $10,000 |