Memphis Medical Society Inc
- Assets
- $1.2m
- Revenue
- $488.0k
- Investments
- $325.9k
- Employees
- 18
- Location
- Memphis, TN
- Founding
- 12/1961
- Data as of
- 06/2023
- EIN
- 62-0292105
Organization Overview
Memphis Medical Society Inc is located in Memphis, TN. The organization was established in 1961. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2023, Memphis Medical Society Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis Medical Society Inc 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 06/2023, Memphis Medical Society Inc generated $488.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $291.2k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUSINESS LEAGUE OF MEDICAL DOCTORS
Describe the Organization's Program Activity:
Part 3 - Line 4a
BILLINGS & COLLECTIONS OF DUES, PROFESSIONAL MEETINGS, PUBLICATIONS, PUBLIC EDUCATION PROGRAMS AND OTHER NORMAL ACTIVITIES OF BUSINESS LEAGUE OF MEDICAL DOCTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Usdan MD President | OfficerTrustee | 2 | $0 |
Dale Criner MD President Elect | OfficerTrustee | 2 | $0 |
Christopher M Pokabla MD Immediate Past President | OfficerTrustee | 2 | $0 |
Tommy Campbell MD Past President | OfficerTrustee | 2 | $0 |
James Ensor MD Past President | OfficerTrustee | 2 | $0 |
Danielle H Hassel MD Past President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $247,572 |
| 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 | $247,572 |
| Total Program Service Revenue | $42,680 |
| Investment income | $109,811 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $49,725 |
| Net Gain/Loss on Asset Sales | $38,179 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $487,967 |
| 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. | $278,336 |
| Compensation of current officers, directors, key employees. | $83,501 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $266,106 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,103 |
| Payroll taxes | $78,726 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23 |
| Fees for services: Accounting | $7,740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $700 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,347 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $15,083 |
| Conferences, conventions, and meetings | $42,042 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,310 |
| Insurance | $6,899 |
| All other expenses | -$565,341 |
| Total functional expenses | $291,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,272 |
| Savings and temporary cash investments | $160,232 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $364,941 |
| 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 | $153,850 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $325,915 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,182 |
| Total assets | $1,187,392 |
| Accounts payable and accrued expenses | $36,808 |
| Grants payable | $6,616 |
| Deferred revenue | $0 |
| 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 | $43,424 |
| Net assets without donor restrictions | $1,143,968 |
| 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 | $1,187,392 |