Rhode Island Medical Society Foundation
- Assets
- $720.0k
- Revenue
- $209.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 06/1983
- Data as of
- 12/2023
- EIN
- 05-0401176
Organization Overview
Rhode Island Medical Society Foundation is located in Providence, RI. The organization was established in 1983. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhode Island Medical Society Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Rhode Island Medical Society Foundation generated $209.5k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $309.1k during the year ending 12/2023. While expenses have increased by 4.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE BETTERMENT OF PUBLIC HEALTH BY ENGAGING IN EDUCATIONAL AND CHARITABLE ACTIVITIES RELATED TO THE FIELD OF MEDICINE, AND TO SUPPORT PEER REVIEW ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL PROFESSIONALS HEALTH ASSISTANCE - THIS PROGRAM SUPPORTS THE COSTS OF EMPLOYING TWO FULL-TIME CLINICAL SOCIAL WORKERS WHO PROVIDE SERVICES PERTAINING TO THE HEALTH OF PHYSICIANS AND CERTAIN OTHER CLINICIANS.
PUBLIC SERVICE AND EDUCATION - THIS PROGRAM SUPPORTS THE COSTS OF: (1) CONDUCTING A CAMPAIGN TO INCREASE THE FREQUENCY WITH WHICH MEDICAL OFFICES SCREEN PATIENTS FOR PRE-DIABETES AND THE RATE AT WHICH THEY REFER PRE-DIABETIC PATIENTS TO THE MANY NEW EVIDENCE-BASED DIABETES PREVENTION PROGRAMS THAT ARE ESTABLISHED IN RHODE ISLAND, AND ALSO COLLABORATE WITH OTHERS WORKING TOWARDS THIS COMMON GOAL; (2) SUPPORTING PUBLIC EDUCATIONAL PROGRAMS AND RAISE PUBLIC AWARENESS RELATING TO PROFESSIONAL LIABILITY TORT REFORM; (3) AND RESPONDING TO OTHER EDUCATIONAL AND SAFETY CONCERNS.
FINANCIAL ASSISTANCE FOR PHYSICIANS (BENEVOLENCE FUND) - THIS PROGRAM SUPPORTS PHYSICIANS AND THEIR FAMILIES IN TIMES OF FINANCIAL NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Brousseau MD MPH Trustee | Trustee | 0.02 | $0 |
Catherine A Cummings MD Trustee | Trustee | 0.02 | $0 |
Elizabeth B Lange MD Trustee | OfficerTrustee | 0.02 | $0 |
Thomas A Beldsoe MD Facp President Through Sept. 2023 | OfficerTrustee | 0.1 | $0 |
Heather Smith President Start Sept. 2023 | OfficerTrustee | 0.1 | $0 |
Matthew Smith MD Secretary/treas. | OfficerTrustee | 0.1 | $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 | $199,757 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $199,757 |
| Total Program Service Revenue | $0 |
| Investment income | $9,791 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $209,548 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,993 |
| 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 | $7,680 |
| Fees for services: Accounting | $5,900 |
| 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 | $2,616 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,199 |
| Travel | $2,300 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $219 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104 |
| Insurance | $0 |
| All other expenses | $1,981 |
| Total functional expenses | $309,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,621 |
| Savings and temporary cash investments | $124,886 |
| 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 | $8,735 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $21,800 |
| Net Land, buildings, and equipment | $372 |
| Investments—publicly traded securities | $496,245 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,335 |
| Total assets | $719,994 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,176 |
| 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 | $68,842 |
| Total liabilities | $74,018 |
| Net assets without donor restrictions | $51,699 |
| Net assets with donor restrictions | $594,277 |
| 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 | $719,994 |