Greater Louisville Medical Society
- Assets
- $4.4m
- Revenue
- $1.6m
- Investments
- $3.5m
- Employees
- 14
- Location
- Louisville, KY
- Founding
- 12/1939
- Data as of
- 03/2024
- EIN
- 61-0237560
Organization Overview
Greater Louisville Medical Society is located in Louisville, KY. The organization was established in 1939. According to its NTEE Classification (E03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Health Care and related organizations. As of 03/2024, Greater Louisville Medical Society employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Louisville Medical Society 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 03/2024, Greater Louisville Medical Society generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $1.5m during the year ending 03/2024. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
GREATER LOUISVILLE MEDICAL SOCIETY EMPOWERS PHYSICIANS BY CREATING ENGAGING EXPERIENCES, ADVANCING MEANINGFUL ADVOCACY AND BUILDING IMPACTFUL RELATIONSHIPS IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENCOURAGE AND DEVELOP EDUCATION AND SCIENTIFIC ACTIVITY IN THE FIELD OF MEDICAL SCIENCE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monalisa Tailor MD Ama Alternate Delegate | Trustee | 0.5 | $0 |
Brian Sosnin DO Board Chair (partial Year) | Trustee | 1 | $0 |
Valerie Briones-Pryor MD Board Chair (partial Year) | Trustee | 2 | $0 |
Patricia Purcell MD President | Trustee | 2 | $0 |
Lewis Hargett MD President-Elect & Nma Treasurer | Trustee | 2 | $0 |
Thomas Higgins Jr MD Vice-President | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $630,292 |
| 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 | $630,292 |
| Total Program Service Revenue | $754,709 |
| Investment income | $91,882 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $120,196 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,604,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $232,941 |
| Compensation of current officers, directors, key employees. | $31,576 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $692,622 |
| Pension plan accruals and contributions | $32,861 |
| Other employee benefits | $113,836 |
| Payroll taxes | $70,728 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,234 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,731 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,940 |
| Office expenses | $106,490 |
| Information technology | $137,826 |
| Royalties | $0 |
| Occupancy | $10,492 |
| Travel | $52,380 |
| 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 | $4,149 |
| Insurance | $12,697 |
| All other expenses | $32,360 |
| Total functional expenses | $1,540,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203,939 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $460,205 |
| 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 | $75,755 |
| Net Land, buildings, and equipment | $8,822 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,458,090 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $201,728 |
| Total assets | $4,408,539 |
| Accounts payable and accrued expenses | $37,259 |
| Grants payable | $0 |
| Deferred revenue | $472,930 |
| 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 | $0 |
| Total liabilities | $510,189 |
| Net assets without donor restrictions | $3,898,350 |
| 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 | $4,408,539 |