Medical Society Of S C
- Assets
- $641.1m
- Revenue
- $16.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Charleston, SC
- Founding
- 04/1979
- Data as of
- 12/2021
- 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. 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 12/2021, Medical Society Of S C generated $16.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $9.1m during the year ending 12/2021. While expenses have increased by 0.9% per year over the past 7 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 2014, Medical Society Of S C has awarded 100 individual grants totaling $9,370,800. 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
2021
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 |
|---|---|---|---|
Charles F Rivers Chief Executive Officer | Officer | 40 | $302,500 |
Henry C West President | OfficerTrustee | 1 | $60,000 |
J Rick Mcevoy MD Vice President | OfficerTrustee | 1 | $0 |
Jonathan Donaldson MD Secretary-Treasurer | OfficerTrustee | 1 | $0 |
John Spratt MD Immediate Past President | OfficerTrustee | 1 | $0 |
Jules Ivester 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 |
Dixon Hughes Goodman Llp Accounting Services | 12/30/19 | $105,915 |
Cambridge Associates Llc Portfolio Managment | 12/30/19 | $203,695 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $46,391 |
| 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 | $46,391 |
| Total Program Service Revenue | $0 |
| Investment income | $3,002,510 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,135,420 |
| Net Gain/Loss on Asset Sales | $8,714,977 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,899,363 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $787,393 |
| 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. | $362,500 |
| Compensation of current officers, directors, key employees. | $72,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $103,115 |
| Pension plan accruals and contributions | $17,839 |
| Other employee benefits | $20,997 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $94,858 |
| Fees for services: Accounting | $96,409 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,476,865 |
| Fees for services: Other | $63,287 |
| Advertising and promotion | $0 |
| Office expenses | $41,029 |
| Information technology | $9,346 |
| Royalties | $0 |
| Occupancy | $47,627 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $92,466 |
| Interest | $3,152,240 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,648,683 |
| Insurance | $77,590 |
| All other expenses | $0 |
| Total functional expenses | $9,092,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $42,967,444 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $428,134 |
| 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 | $77,739,593 |
| Investments—publicly traded securities | $180,139,417 |
| Investments—other securities | $0 |
| Investments—program-related | $339,840,630 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $641,115,218 |
| Accounts payable and accrued expenses | $1,549,197 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $81,386,727 |
| 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 | $82,935,924 |
| Net assets without donor restrictions | $558,179,294 |
| 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 | $641,115,218 |
Grants Awarded
Over the last fiscal year, Medical Society Of S C has awarded $250,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Ladson, SC PURPOSE: OPERATIONAL SUPPORT | $120,000 |
Los Angeles, CA PURPOSE: OPERATIONAL SUPPORT | $30,000 |
Mount Pleasant, SC PURPOSE: OPERATIONAL SUPPORT | $20,000 |
Kennesaw, GA PURPOSE: OPERATIONAL SUPPORT | $15,000 |
Summerville, SC PURPOSE: OPERATIONAL SUPPORT | $15,000 |
Charleston, SC PURPOSE: OPERATIONAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Healthcare System Inc Warner Robins, GA | $2,831,389 | $10,479,781 |
West Georgia Health Foundation Inc Marietta, GA | $8,141,093 | $4,609,093 |
Trustees Of Medical Services Of Am Inc Empl Health Ben Plan 6 Tr Lexington, SC | $5,490 | $14,210,986 |
Rowan Regional Medical Center Foundation Inc Winston Salem, NC | $63,491,170 | $11,479,503 |
Medical Society Of S C Charleston, SC | $641,115,218 | $16,899,363 |
Forsyth Medical Center Foundation Winston Salem, NC | $87,707,112 | $11,824,054 |
Foundation Of Firsthealth Inc Pinehurst, NC | $97,006,378 | $9,255,156 |
Conway Hospital Emergency Professional Services Conway, SC | $693,381 | $5,206,730 |
Moses Cone-Wesley Long Community Health Foundation Inc Greensboro, NC | $128,321,235 | $23,346,538 |
Gwinnett Hospital System Foundation Inc Lawrenceville, GA | $16,671,809 | $3,369,324 |
Cem Health And Welfare Benefit Trust Matthews, NC | $250,139 | $4,240,274 |
Musc Health Partners Charleston, SC | $1,610,302 | $4,424,727 |