Rhode Island Medical Society
- Assets
- $1.3m
- Revenue
- $707.2k
- Investments
- $0.0
- Employees
- 12
- Location
- Providence, RI
- Founding
- 03/1991
- Data as of
- 12/2022
- EIN
- 05-0250010
Organization Overview
Rhode Island Medical Society is located in Providence, RI. The organization was established in 1991. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2022, Rhode Island Medical Society employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island 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 12/2022, Rhode Island Medical Society generated $707.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $756.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE ART AND SCIENCE OF MEDICINE FOR THE BETTERMENT OF PUBLIC HEALTH AND TO ADVOCATE QUALITY PATIENT CARE AND PROMOTE THE EXCHANGE OF INFORMATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROFESSIONAL REPRESENTATION BEFORE GOVERNMENTAL BODIES REGARDING MEDICAL AND PUBLIC HEALTH ISSUES
PUBLICATION OF "THE RI MEDICAL JOURNAL"
PROVISION OF STAFF SERVICES TO OTHER MEDICAL SPECIALTY SOCIETIES AND NOT-FOR-PROFIT ENTITIES IN RHODE ISLAND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Paterno Executive Director | Officer | 40 | $129,990 |
Elizabeth B Lange MD Past President/current Director | OfficerTrustee | 1 | $9,000 |
Newell E Warde PHD Exec. Dir. Through 12/31/21 | Officer | 0 | $3,881 |
Thomas A Bledsoe MD President | OfficerTrustee | 1 | $3,000 |
Kara Stavros MD Vice President | OfficerTrustee | 1 | $0 |
Matthew Smith MD Treasurer | 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 | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,000 |
| Total Program Service Revenue | $569,462 |
| Investment income | $17,965 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $34,199 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $707,186 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $319 |
| 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. | $151,784 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $272,593 |
| Pension plan accruals and contributions | $5,737 |
| Other employee benefits | $5,500 |
| Payroll taxes | $33,574 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,733 |
| Fees for services: Accounting | $11,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $500 |
| Office expenses | $83,796 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $74,163 |
| Travel | $11,178 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,965 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,254 |
| Insurance | $4,657 |
| All other expenses | $4,040 |
| Total functional expenses | $756,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,581 |
| Savings and temporary cash investments | $409 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,970 |
| 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 | $6,909 |
| Net Land, buildings, and equipment | $30,384 |
| Investments—publicly traded securities | $944,371 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $197,257 |
| Total assets | $1,292,881 |
| Accounts payable and accrued expenses | $45,202 |
| Grants payable | $0 |
| Deferred revenue | $31,065 |
| 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 | $190,827 |
| Total liabilities | $267,094 |
| Net assets without donor restrictions | $1,023,011 |
| Net assets with donor restrictions | $2,776 |
| 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 | $1,292,881 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rhode Island Medical Society has recieved totaling $15,500.
| Awarding Organization | Amount |
|---|---|
Care New England Health System Providence, RI PURPOSE: GENERAL SUPPORT | $15,500 |
Endowment Analysis
| Beg. Balance | $1,134,652 |
| Earnings | -$174,281 |
| Other Expense | $16,000 |
| Ending Balance | $944,371 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
R I H Orthopaedic Foundation Inc Providence, RI | $8,806,507 | $8,596,679 |
American Healthcare Radiology Administrators Inc Marlborough, MA | $4,341,536 | $3,296,728 |
Diagnostic Imaging Foundation Warwick, RI | $10,449 | $1,617,000 |
Connecticut State Medical Society Inc North Haven, CT | $1,803,405 | $1,201,082 |
Rhode Island Medical Society Providence, RI | $1,292,881 | $707,186 |
American Academy Of Psychiatry & The Law Bloomfield, CT | $2,884,642 | $945,687 |
Bih Pathology Foundation Inc Boston, MA | $11,873,178 | $1,097,685 |
Massachusetts Society Of Anesthesiologists Inc Waltham, MA | $1,062,737 | $369,198 |
Connecticut Podiatry Association Incorporated Springfield, MA | $58,575 | $286,208 |
Chiropractic Society Inc Massachusetts Braintree, MA | $22,730 | $231,565 |
Massachusetts Academy Of Dermatology Inc Westford, MA | $408,542 | $220,725 |
New Haven County Medical Association Inc Hartford, CT | $480,446 | $195,419 |