MASSACHUSETTS MEDICAL SOCIETY (EIN 042050773) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1781

Legal Domicile

Principal Officer

LOIS DEHLS CORNELL

Phone

7818934610

Tax Period

2024-06-01 to 2025-05-31

MASSACHUSETTS MEDICAL SOCIETY, founded in 1781, is a major nonprofit that reported $148.7M in total revenue in fiscal year 2024. Expenses of $132.9M left a modest 11% surplus.

Mission

SEE FORM 990, PART III, LINE 1.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,573,846

Program Service Revenue $70,849,119

Investment Income $17,112,864

Other Revenue $59,124,309

TOTAL REVENUE $148,660,138

Expense Breakdown

Grants Paid $647,962

Salaries & Benefits $80,575,855

Fundraising Expenses $0

Other Expenses $51,662,590

TOTAL EXPENSES $132,886,407

Year-over-Year Comparison

	2024	2023	Change
Revenue	$148,660,138	$138,011,798	+0.1%
Expenses	$132,886,407	$133,285,279	0.0%
Net Income	$15,773,731	$4,726,519	+2.3%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

462

Volunteers

800

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,533,337

Total Directors

$345,230

Key Employees

$1,166,649

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HUGH M TAYLOR	PRESIDENT	20.00	Officer Director	$138,542	$0	$138,542
OLIVIA LIAO	PRESIDENT-ELECT	12.00	Officer Director	$48,875	$23,000	$71,875
LEE S PERRIN	SECRETARY-TREASURER	12.00	Officer Director	$2,083	$12,500	$14,583
ELI FREIMAN MD FAAP	SPEAKER	3.00	Officer Director	$19,792	$0	$19,792
BARBARA SPIVAK	TRUSTEE, FORMER PRESIDENT	0.30	Officer Director	$100,438	$0	$100,438
JEAN M BRUCH MD DMD	TRUSTEE	0.30	Director	$0	$0	$0
CHRISTOPHER GAROFALO MD	TRUSTEE	0.30	Director	$0	$0	$0
KENATH J SHAMIR MD	TRUSTEE	0.30	Director	$0	$0	$0
DAVID T GOLDEN MD	TRUSTEE	0.30	Director	$0	$0	$0
ANN B SPIRES MD	TRUSTEE	0.30	Director	$0	$0	$0
THOMAS A MURRAY III MD	TRUSTEE	0.30	Director	$0	$0	$0
FLORA F SADRI-AZARBAYANI DO	TRUSTEE	0.30	Director	$0	$0	$0
JAMES K WANG MD	TRUSTEE	0.30	Director	$0	$0	$0
KATHERINE J ATKINSON MD	TRUSTEE	0.30	Director	$0	$0	$0
ANA-CRISTINA VASILESCU MD	TRUSTEE	0.30	Director	$0	$0	$0
PAULA JO CARBONE MD	TRUSTEE	0.30	Director	$0	$0	$0
NIDHI K LAL MD	TRUSTEE	0.30	Director	$0	$0	$0
JOHN A DELOGE MD	TRUSTEE	0.30	Director	$0	$0	$0
NICOLAS ARGY MD JD	TRUSTEE	0.30	Director	$0	$0	$0
SIMONE S WILDES MD	TRUSTEE	0.30	Director	$0	$0	$0
GEORGE J CLAIRMONT MD	TRUSTEE	0.30	Director	$0	$0	$0
S JAY JAYASANKAR MD	TRUSTEE	0.30	Director	$0	$0	$0
MANJUL SHUKLA MD	TRUSTEE	0.30	Director	$0	$0	$0
JOHN R BOGDASARIAN MD	TRUSTEE	0.30	Director	$0	$0	$0
CHARLES ROUSSEL MBA	TRUSTEE	0.30	Director	$0	$0	$0
TIFFANY BELLOMO MD	RESIDENT TRUSTEE	0.30	Director	$0	$0	$0
SENILA YASMIN	STUDENT TRUSTEE	0.30	Director	$0	$0	$0
LOIS DEHLS CORNELL	EXECUTIVE VICE PRESIDENT	50.00	Officer	$686,768	$67,204	$753,972
PAUL SHANNON	VICE PRESIDENT, FINANCE	50.00	Officer	$365,546	$61,297	$426,843
GRAYSON ARMSTRONG	VICE SPEAKER	3.00	Officer	$7,292	$0	$7,292
DAVID SAMPSON	VP NEJM GROUP	50.00	Key Emp	$488,947	$67,204	$556,151
THERESA E SCIARAPPA	SENIOR VP, COO	50.00	Key Emp	$554,325	$56,173	$610,498
ERIC JOSEPH RUBIN MD	EDITOR-IN-CHIEF	50.00	Highest	$657,559	$63,129	$720,688
ROBERT J STUART	VP / CHIEF DIGITAL OFFIC	50.00	Highest	$456,917	$61,082	$517,999
MARY BETH E HAMEL MD	EXECUTIVE EDITOR	50.00	Highest	$449,370	$68,261	$517,631
DARREN TAICHMAN MD	DEPUTY EDITOR	50.00	Highest	$441,561	$69,985	$511,546
JAMES PHIMISTER	MANAGING DIRECTOR, NEW BUSINESS & STRATEGIC PARTNE	50.00	Highest	$444,821	$89,223	$534,044
JEFFREY M DRAZEN MD	EDITOR (CURRENT); FORMER E	50.00		$422,806	$56,687	$479,493

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$148,660,138	$132,886,407	$309,838,514	$15,773,731
2024	$138,011,798	$133,285,279	$295,176,920	$4,726,519
2023	$125,843,070	$136,334,544	$281,862,619	$-10,491,474
2022	$157,568,130	$137,145,677	$298,279,224	$20,422,453
2021	$139,442,743	$137,447,167	$325,303,905	$1,995,576
2020	$131,501,375	$142,729,781	$286,857,197	$-11,228,406
2019	$135,083,380	$142,636,840	$291,874,604	$-7,553,460
2018	$145,878,840	$134,510,829	$302,796,191	$11,368,011

MASSACHUSETTS MEDICAL SOCIETY