Medical Society Of Delaware
- Assets
- $7.3m
- Revenue
- $1.5m
- Investments
- $5.6m
- Employees
- 19
- Location
- Middletown, DE
- Founding
- 10/1947
- Data as of
- 12/2023
- EIN
- 51-0061011
Organization Overview
Medical Society Of Delaware is located in Middletown, DE. The organization was established in 1947. 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 12/2023, Medical Society Of Delaware employed 19 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Medical Society Of Delaware 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, Medical Society Of Delaware generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.7%) 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
TO PROMOTE THE ART & SCIENCE OF MEDICINE AMONG OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE SOCIETY IS TO PROMOTE THE ART & SCIENCE OF MEDICINE AMONG ITS MEMBERS AND TO UPHOLD THE IDEALS AND THE ETHICAL PRINCIPLES OF THE MEDICAL PROFESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew J Burday DO Immediate Past President | OfficerTrustee | 1 | $0 |
Robert J Varipapa MD President | OfficerTrustee | 1 | $30,000 |
Joseph J Straight MD Holding Company Board Representative - Hc Vice Cha | OfficerTrustee | 1 | $0 |
Bhavin R Dave MD President-Elect | OfficerTrustee | 1 | $0 |
Shalini B Shah MD Treasurer | OfficerTrustee | 1 | $0 |
Brian J Galinat MD Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $458,010 |
| Fundraising events | $0 |
| Related organizations | $191,509 |
| Government grants | $444,674 |
| 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 | $1,094,193 |
| Total Program Service Revenue | $400,678 |
| Investment income | $0 |
| 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 | $1,549,886 |
| 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. | $416,227 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $645,604 |
| Pension plan accruals and contributions | $39,498 |
| Other employee benefits | $10,314 |
| Payroll taxes | $43,395 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,987 |
| Fees for services: Accounting | $8,638 |
| Fees for services: Lobbying | $42,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $185,216 |
| Advertising and promotion | $0 |
| Office expenses | $47,557 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $59,600 |
| Travel | $37,361 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,870 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $41,501 |
| All other expenses | $1,300 |
| Total functional expenses | $1,804,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,432 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,349,287 |
| 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 | $14,240 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,570,768 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,290,727 |
| Accounts payable and accrued expenses | $7,130,432 |
| Grants payable | $0 |
| Deferred revenue | $278,282 |
| 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 | $7,408,714 |
| Net assets without donor restrictions | -$117,987 |
| Net assets with donor restrictions | $0 |
| 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 | $7,290,727 |