Mag Institute For Excellence In Medicine Inc
- Assets
- $406.0k
- Revenue
- $87.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Atlanta, GA
- Founding
- 06/2004
- Data as of
- 12/2022
- EIN
- 30-0211350
Organization Overview
Mag Institute For Excellence In Medicine Inc is located in Atlanta, GA. The organization was established in 2004. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2022, Mag Institute For Excellence In Medicine Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mag Institute For Excellence In Medicine Inc 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 12/2022, Mag Institute For Excellence In Medicine Inc generated $87.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (25.1%) each year. All expenses for the organization totaled $97.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (24.9%) per year over the past 6 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 IMPROVE PATIENT SAFETY AND ACHIEVE CLINICAL IMPROVEMENTS FOR GEORGIA PHYSICIANS AND THEIR PATIENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL ASSOCIATION OF GEORGIA MEDICAL RESERVE CORPS ("MAG MRC")THE MAG MRC RESPONDS TO DECLARED EMERGENCIES IN THE STATE, INCLUDING NATURAL DISASTERS AND DISEASE OUTBREAKS.THE MAG MRC IS PREPARED TO DEPLOY AND STAFF MOBILE HOSPITALS AND SUPPORT EMERGENCY SHELTERS UNDER THE DIRECTION OF DPH.THE MAG MRC COMPLEMENTS THE OFFICIAL MEDICAL AND PUBLIC HEALTH AND EMERGENCY SERVICES RESOURCES IN THE STATE.THE MAG MRC IS PART OF A STATE AND NATIONAL NETWORK OF MRC. THERE ARE NEARLY 1,000 COMMUNITY-BASED MRC UNITS AND 200,000 MRC VOLUNTEERS IN THE U.S. AND ITS TERRITORIES, INCLUDING 19 MRC UNITS IN GEORGIA.THE MAG MRC HAS RECEIVED GRANTS FROM THE GEORGIA TRAUMA CARE NETWORK AND THE NATIONAL ASSOCIATION OF COUNTY AND CITY HEALTH OFFICIALS.MAG MRC MEMBERS ARE CITIZEN VOLUNTEERS. THE MAG MRC INCLUDES PHYSICIANS AND NON-PHYSICIANS.THE MAG MRC IS A GREAT WAY FOR RESIDENTS AND MEDICAL STUDENTS TO DEVELOP THEIR SKILL SETS AND PROFESSIONAL NETWORKS.THE MAG MRC CONDUCTS MONTHLY CLASSROOM TRAINING AND QUARTERLY DRILLS (E.G., RESPONDING TO MASS CASUALTY EVENTS, SETTING UP MOBILE HOSPITALS, AND PRACTICING AEROMEDICAL TRANSPORTATION AND EVACUATION).MAG MRC MEMBERS PARTICIPATE IN AT LEAST ONE TRAINING EXERCISE A YEAR WHICH NORMALLY LAST ONE TO TWO DAYS.MAG MRC MEMBERS ARE REQUIRED TO REGISTER WITH THE 'GEORGIA RESPONDS: STATE EMERGENCY REGISTRY OF VOLUNTEERS IN GEORGIA' (SERVGA) SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy T Bonfini Executive Director | OfficerTrustee | 10 | $0 |
Bethany Sherrer Director Of Legal Relation | 10 | $0 | |
Frederick C Flandry MD Director | Trustee | 1 | $0 |
Kelly M Degraffenreid MD President | OfficerTrustee | 0.5 | $0 |
Manoj H Shah MD Vice President | OfficerTrustee | 0.5 | $0 |
Zachary Lopater MD Treasurer | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $85,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,654 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $87,654 |
| Total Program Service Revenue | $0 |
| Investment income | $211 |
| 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 | $87,865 |
| 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. | $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 | $0 |
| Fees for services: Other | $52,004 |
| Advertising and promotion | $0 |
| Office expenses | $2,208 |
| Information technology | $10,278 |
| Royalties | $0 |
| Occupancy | $3,600 |
| Travel | $9,114 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,965 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $97,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $363,516 |
| Pledges and grants receivable | $42,500 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $406,016 |
| Accounts payable and accrued expenses | $10,448 |
| Grants payable | $0 |
| Deferred revenue | $50,000 |
| 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 | $60,448 |
| Net assets without donor restrictions | $75,904 |
| Net assets with donor restrictions | $269,664 |
| 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 | $406,016 |
Grants Awarded
Over the last fiscal year, Mag Institute For Excellence In Medicine Inc has awarded $68,846 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
KENTUCKY MEDICAL ASSOCIATION PURPOSE: SMS CORE 3 OPIOID EDUCATION | $5,000 |
LOUISIANA STATE MEDICAL SOCIETY PURPOSE: SMS CORE 3 OPIOID EDUCATION | $10,500 |
MEDICAL ASSOCIATION OF THE STATE OF ALABAMA PURPOSE: SMS CORE 3 OPIOID EDUCATION | $20,000 |
MEDICAL SOCIETY OF VIRGINIA FOUNDATION PURPOSE: SMS CORE 2 OPIOID EDUCATION | $5,346 |
MICHIGAN STATE MEDICAL SOCIETY PURPOSE: SMS CORE 2 & 3 OPIOID EDUCATION | $12,500 |
MISSISSIPPI STATE MEDICAL SOCIETY PURPOSE: SMS CORE 3 OPIOID EDUCATION | $5,000 |