Royal Society Of Medicine
- Assets
- $51.3m
- Revenue
- $19.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Founding
- 11/1957
- Data as of
- 09/2019
- EIN
- 98-6001542
Organization Overview
Royal Society Of Medicine is located in null. The organization was established in 1957. According to its NTEE Classification (E03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Royal Society Of Medicine 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 09/2019, Royal Society Of Medicine generated $19.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $20.5m during the year ending 09/2019. As we would expect to see with falling revenues, expenses have declined by (3.6%) per year over the past 4 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE ROYAL SOCIETY OF MEDICINE'S MISSION IS TO ADVANCE HEALTH THROUGH EDUCATION AND INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: RSM REMAINS AT THE FOREFRONT OF PROVIDING HIGH QUALITY MEDICAL EDUCATION IN THE UK AND REMAINS THE BIGGEST PROVIDER OF CPD ACCREDITED MEETINGS. THE EDUCATIONAL PROGRAMME COMPRISES A WIDE RANGE OF MEETINGS PLANNED AND RUN BY THE SOCIETY'S 57 SECTIONS. OVER 36,500 DELEGATES ATTENDED 325 SECTION AND OTHER EDUCATIONAL MEETINGS DURING THE YEAR. 133 PRIZES WERE AWARDED TO STUDENTS AND TRAINEES. IN FURTHERANCE OF ITS EDUCATIONAL MISSION, RSM OPERATES A CONFERENCE CENTER THAT SERVES AS A FORUM TO CONVENE MEDICAL PROFESSIONALS FOR EXCHANGING KNOWLEDGE ABOUT THE PRACTICE OF MEDICINE. INCLUDED WITHIN TOTAL EXPENDITURES OF $13,923,510 ARE $7,373,760 IN CONFERENCE CENTER EXPENSES. INCLUDED WITHIN TOTAL REVENUES OF $11,549,190 IS $9,052,800 IN CONFERENCE CENTER REVENUE.
INFORMATION RESOURCES: THE ROYAL SOCIETY OF MEDICINE WAS ESTABLISHED TO PROVIDE EDUCATIONAL ACTIVITIES AND PROMOTE THE EXCHANGE OF KNOWLEDGE AND INFORMATION. THE LIBRARY PLAYS A VITAL ROLE IN PROVIDING SERVICES AND PRODUCTS TO MEET THESE OBJECTIVES. THE LIBRARY HAS A PRINT COLLECTION OF OVER 600,000 VOLUMES AND HAS SIGNIFICANTLY INCREASED THE AVAILABILITY OF ELECTRONIC CONTENT BY MIGRATING JOURNALS AND HIGH DEMAND TEXTS FROM PRINT TO ELECTRONIC FORMATS.THE LIBRARY HOSTED SOME EXHIBITIONS DURING 2017/18 EXPLOITING ITS RICH COLLECTION OF RARE AND HISTORICAL MATERIAL. 36,000 PEOPLE VISITED THE LIBRARY OVER THE YEAR; THE E-JOURNALS COLLECTION IS ONE OF THE LIBRARY'S BEST USED RESOURCES WITH 491,000 VISITS DURING THE YEAR.
MEMBERSHIP SUBSCRIPTIONS: THE RSM IS COMMITTED TO PROVIDING MEMBERS OF THE SOCIETY WITH RELEVANT EDUCATIONAL PROGRAMMES DESIGNED TO HELP DOCTORS AND HEALTHCARE PROFESSIONALS DELIVER THE BEST CARE POSSIBLE TO PATIENTS. AN ESSENTIAL ROLE PLAYED BY THE MEMBERSHIP DEPARTMENT IS GENERATING ON-GOING INCOME FROM MEMBERS RENEWING THEIR SUBSCRIPTIONS EACH YEAR AND THE PROCESS FOR THIS IS REVIEWED AND REFINED ANNUALLY. THE SOCIETY HAS 20,500 MEMBERS AND TOTAL SUBSCRIPTION INCOME OF $6.0M WAS RECEIVED. FORM 990, PART III, LINE 4(D) PUBLISHING: THE ROYAL SOCIETY OF MEDICINE'S TWO JOURNALS, THE JOURNAL OF THE ROYAL SOCIETY OF MEDICINE AND JRSM OPEN, ARE OUTLETS FOR SCHOLARLY COMMENT AND CLINICAL RESEARCH IN THE SPECIALTIES OF MEDICINE AND SURGERY. FOR MORE INFORMATION ABOUT BOTH PUBLICATIONS, PLEASE GO VISIT THE SOCIETY'S WEBSITE AT WW.RSM.AC.UK.
PUBLISHING
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mrs Helen Gordon Former Chief Executive | 0 | $208,091 | |
Mr Mark Johnstone Finance Director(thru 07/2019) | Officer | 40 | $160,650 |
Mr Nigel Collett Ce(thru 5/19)op Dir(from 6/19) | Officer | 40 | $131,466 |
Mrs Janice Liverseidge Comms & Marketing Director | Officer | 40 | $117,161 |
Ms Felicity Nath Head Of Finance | 40 | $102,462 | |
Ms Bridget Gildea Direct. Learning | Officer | 40 | $38,438 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $906,013 |
| Investment income | $381,300 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $67,650 |
| 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 | $19,166,593 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $46,740 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,077,653 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,841,448 |
| Pension plan accruals and contributions | $601,163 |
| Other employee benefits | $60,070 |
| Payroll taxes | $652,990 |
| Fees for services: Management | $450,052 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $76,220 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $852,056 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $765,060 |
| Royalties | $0 |
| Occupancy | $1,446,480 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,548,560 |
| Interest | $34,440 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,662,960 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $20,473,349 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,327,120 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,916,330 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $78,720 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $8,840,010 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,532,580 |
| Other assets | $4,115,580 |
| Total assets | $51,257,790 |
| Accounts payable and accrued expenses | $1,737,990 |
| Grants payable | $0 |
| Deferred revenue | $2,607,600 |
| 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 | $369,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,611,300 |
| Total liabilities | $6,325,890 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $44,931,900 |
Endowment Analysis
| Beg. Balance | $3,123,052 |
| Earnings | -$201,720 |
| Ending Balance | $2,921,332 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Global Alliance For Improved Nutrition | $44,416,966 | $54,421,348 |
Ontario Educational Communications Authority | $67,292,607 | $50,739,762 |
Amigour Asset Management Ltd | $32,967,956 | $48,566,564 |
Center For International Forestry Research | $34,476,961 | $45,346,432 |
Veba Inc Veba Tr | $1,816,913 | $41,959,741 |
Sir Mortimer B Davis Jewish General Hospital | $508,935,050 | $43,702,941 |
Victoria University | $655,176,000 | $66,175,309 |
United Israel Appeal Of Canada Inc | $41,748,744 | $42,397,130 |
United Bible Societies Association Inc | $115,618,182 | $43,860,125 |
International Financial Reporting Standards Foundation | $67,984,215 | $40,055,296 |
Coif Charities Investment Fund | $5,003,702,124 | $82,088,708 |
International Center Of Insect Physiology And Ecology | $70,607,275 | $37,905,862 |