California Medical Association Properties Inc
- Assets
- $31.2m
- Revenue
- $2.8m
- Investments
- $1.4m
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- 09/1932
- Data as of
- 12/2021
- EIN
- 94-6062821
Organization Overview
California Medical Association Properties Inc is located in Sacramento, CA. The organization was established in 1932. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., 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. California Medical Association Properties Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2021, California Medical Association Properties Inc generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $3.6m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO HOLD AND INVEST FUNDS ON BEHALF OF CALIFORNIA MEDICAL ASSOCIATION, A NON-PROFIT ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, CMA PROPERTIES PROVIDED $2,286,423 OF GENERAL FUNDS TO THE CALIFORNIA MEDICAL ASSOCIATION, A NOT-FOR-PROFIT RELATED ORGANIZATION, FOR THE PURPOSE OF SUPPORTING PROGRAMS AND SERVICES OFFERED BY CMA TO ITS MEMBERS.
CMA PROPERTIES INCURRED VARIOUS INVESTMENT AND OTHER ADVISORY FEES IN CONNECTION WITH THE MANAGEMENT AND OVERSIGHT OF ITS INVESTMENT PORTFOLIO. THESE EXPENSES WERE ESSENTIAL TO HELP CMA PROPERTIES FULFILL ITS MISSION TO HOLD AND RESPONSIBLY INVEST FUNDS ON BEHALF OF THE CALIFORNIA MEDICAL ASSOCIATION.
EACH YEAR, CMA PROPERTIES PRESENT AWARDS TO OUTSTANDING PHYSICIANS. THE PLESSNER MEMORIAL INVESTMENT FUND AWARDS ONE EXCEPTIONAL PHYSICIAN FOR PHENOMENAL ACCOMPLISHMENTS AS A PRACTICING PHYSICIAN IN A RURAL SETTING. THE GNANADEV ENDOWMENT FUND ALSO AWARDS ONE CMA PHYSICIAN MEMBER IN RECOGNITION OF WORKING RELENTLESSLY TO RECRUIT NEW MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lance R Lewis Chief Financial Officer | Officer | 2 | $0 |
Dustin E Corcoran Secretary - Treasurer | Officer | 2 | $0 |
Francisco J Silva Assistant Secretary General Counsel | Officer | 1 | $0 |
Peter N Bretan MD Immediate Past President Through Oct 2022 | Officer | 1 | $0 |
Robert E Wailes MD President | Officer | 1 | $0 |
David Aizuss MD Immediate Past President Through Oct 2021 | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $1,621,735 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,147,350 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,769,085 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,152,000 |
| 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. | $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 | $123,757 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,791 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $9,507 |
| Total functional expenses | $3,579,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $454,901 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,300,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $23,860,873 |
| Investments—other securities | $1,425,432 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $172,527 |
| Total assets | $31,213,733 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $24,749,675 |
| Total liabilities | $24,749,675 |
| Net assets without donor restrictions | $6,364,058 |
| Net assets with donor restrictions | $100,000 |
| 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 | $31,213,733 |
Grants Awarded
Over the last fiscal year, California Medical Association Properties Inc has awarded $1,152,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Sacramento, CA PURPOSE: A Board designated contribution transferred to California Medical Association primarily to support operating programs and activities. | $752,000 |
CALPAC - CALIFORNIA MEDICAL ASSOCIATION IEC PURPOSE: Actual amount of contribution transferred to related organization to support its mission to influence elections. | $400,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that California Medical Association Properties Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: Leg Def Fnd | | $6,000 |
Endowment Analysis
| Beg. Balance | $15,929,475 |
| Earnings | $1,577,047 |
| Admin Expense | $85,488 |
| Other Expense | $752,000 |
| Ending Balance | $16,669,034 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sequoia Hospital Foundation Redwood City Ca, CA | $24,695,467 | $5,009,692 |
Keiro Services Los Angeles, CA | $85,934,408 | $1,046,146 |
Creighton University Arizona Health Education Alliance Phoenix, AZ | $1,380,752 | $3,660,850 |
California Medical Association Properties Inc Sacramento, CA | $31,213,733 | $2,769,085 |
Covenant Health Network Phoenix, AZ | $1,059,787 | $3,272,102 |
Community Pathways Portland, OR | $2,518,524 | $2,996,605 |
Reproductive Health Investors Alliance Inc San Francisco, CA | $3,893,579 | $451,000 |
Los Angeles County Usc Medical Center Auxiliary Los Angeles, CA | $1,854,785 | $2,822,197 |
Center For Quality Systems Improvement Roseville, CA | $1,341,904 | $1,785,342 |
Private Essential Access Community Hospitals Inc Sacramento, CA | $531,216 | $1,410,595 |
Compass Cooperative Health Plan Inc Scottsdale, AZ | $3,820,448 | $10,074 |
Community Health Initiative Of Orange County Santa Ana, CA | $896,910 | $1,163,525 |