California Medical Association Properties Inc
- Assets
- $21.5m
- Revenue
- $7.0m
- Investments
- $1.4m
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- 09/1932
- Data as of
- 12/2022
- 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 12/2022, California Medical Association Properties Inc generated $7.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $2.9m during the year ending 12/2022. While expenses have increased by 8.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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 NOT-FOR-PROFIT ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, CMA PROPERTIES PROVIDED 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.
IN 2022, CMA PROPERTIES, INC. CONTRIBUTED $950,000 TO THE CALIFORNIA MEDICAL ASSOCIATION TO SUPPORT THE YES ON 1 CAMPAIGN WHOSE PURPOSE WAS TO PROTECT ABORTIONS RIGHTS OF THE PEOPLE. THE OBJECTIVE WAS FOR THE STATE CONSTITUTION TO PROHIBIT FROM DENYING OR INTERFERING WITH PERSONAL CHOICES RELATED TO REPRODUCTIVE HEALTH CARE. PROPOSITION 1 WAS TO ENSURE ABORTIONS REMAIN SAFE AND LEGAL AND THAT IMPORTANT HEALTH CARE DECISIONS ARE LEFT TO INDIVIDUALS AND THEIR PROVIDER WITH THE BACKING OF SCIENCE AND EVIDENCE BASED MEDICINE.
CMA PROPERTIES, INC. CONTRIBUTED $1.4 MILLION TO SUPPORT THE CALIFORNIA MEDICAL ASSOCIATION FOR THE MICRA BALLOT INITIATIVE THAT WOULD HAVE ELIMINATED MICRA'S CAP ON NON-ECONOMIC DAMAGES. THE BATTLE RESULTED IN A WITHDRAWAL OF THE FAIRNESS FOR INJURED PATIENTS ACT INITIATIVE IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dustin E Corcoran Secretary Treasurer | Officer | 2 | $0 |
Lance R Lewis Chief Financial Officer | Officer | 2 | $0 |
Jamie Ostroff Assistant Secretary General Counsel | Officer | 1 | $0 |
Robert E Wailes MD Immediate Past President Through Oct 2023 | OfficerTrustee | 1 | $0 |
Donaldo Hernandez MD President | OfficerTrustee | 1 | $0 |
Tanya W Spirtos MD President-Elect | OfficerTrustee | 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 | $1,273,709 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$202,824 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,007,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,824,109 |
| 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 | $0 |
| 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 | $104,401 |
| 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 | $11,417 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $10 |
| Total functional expenses | $2,939,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,045 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,500 |
| 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 | $0 |
| Investments—publicly traded securities | $19,746,299 |
| Investments—other securities | $1,414,466 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,481,310 |
| 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 | $961,271 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,055,981 |
| Total liabilities | $15,017,252 |
| 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 | $21,481,310 |
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 |
|---|---|
CALIFORNIA MEDICAL ASSOCIATION 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 |