Academy Of Medicine Of Cleveland
- Assets
- $494.7k
- Revenue
- $344.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Independence, OH
- Founding
- 03/1957
- Data as of
- 12/2023
- EIN
- 34-0051440
Organization Overview
Academy Of Medicine Of Cleveland is located in Independence, OH. The organization was established in 1957. According to its NTEE Classification (E01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Health Care and related organizations. As of 12/2023, Academy Of Medicine Of Cleveland employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Academy Of Medicine Of Cleveland 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 12/2023, Academy Of Medicine Of Cleveland generated $344.0k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $328.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROFESSIONAL MEDICAL SOCIETY FOR PHYSICIANS IN CUYAHOGA COUNTY, OHIO
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVICE TO MEMBERS VIA EDUCATIONAL PROGRAMS, REFFERALS, PEER REVIEW, COMMUNITY PROJECTS, ADMIN. SERVICE FOR SPECIALTY SOCIETIES, LIAISON WITH STATE & FEDERAL GOVT. OFFICES, COMMUNICATIONS IN LEGISLATIVE & PRACTICE MGMT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tanveer Singh MD Director | Trustee | 2 | $0 |
Richard Watkins MD Director | Trustee | 2 | $0 |
John Hanicak MD Director | Trustee | 2 | $0 |
Gerard Isenberg MD Immediate Past President | OfficerTrustee | 2 | $0 |
Jonathan Scharfstein MD President | OfficerTrustee | 2 | $0 |
Michael Shaugnessy MD Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,645 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,431 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,076 |
| Total Program Service Revenue | $208,113 |
| Investment income | $104,738 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,367 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $344,019 |
| 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. | $139,050 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,981 |
| Pension plan accruals and contributions | $1,549 |
| Other employee benefits | $3,736 |
| Payroll taxes | $19,712 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,186 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,555 |
| Fees for services: Other | $17,016 |
| Advertising and promotion | $4,816 |
| Office expenses | $2,718 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,051 |
| Travel | $3,636 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $38 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,776 |
| All other expenses | $5,968 |
| Total functional expenses | $328,073 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,104 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,036 |
| Investments—publicly traded securities | $471,728 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,828 |
| Total assets | $494,696 |
| Accounts payable and accrued expenses | $10,276 |
| Grants payable | $0 |
| Deferred revenue | $102,425 |
| 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 | $112,701 |
| Net assets without donor restrictions | $253,428 |
| Net assets with donor restrictions | $128,567 |
| 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 | $494,696 |