CONNECTICUT STATE MEDICAL SOCIETY INC

EIN: 060665164

NORTH HAVEN, CT

Total Revenue
$943,665
Total Expenses
$815,210
Total Assets
$2,061,117
Net Assets
$1,134,705
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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
1792
Legal Domicile
CT
Principal Officer
LAYNE GAKOS
Phone
2038650587
Tax Period
2024-01-01 to 2024-12-31

CONNECTICUT STATE MEDICAL SOCIETY INC, founded in 1792, is a small nonprofit that reported $944K in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Expenses of $815K left a modest 14% surplus.

Mission

TO UNITE AND SUPPORT THE PHYSICIANS OF CT IN PROMOTING THE HEALTH OF ITS CITIZENS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $658,552
Program Service Revenue $166,931
Investment Income $0
Other Revenue $118,182
TOTAL REVENUE $943,665

Expense Breakdown

Grants Paid $84
Salaries & Benefits $493,915
Fundraising Expenses $0
Other Expenses $321,211
TOTAL EXPENSES $815,210

Year-over-Year Comparison

2024 2023 Change
Revenue $943,665 $1,053,908 -0.1%
Expenses $815,210 $862,950 -0.1%
Net Income $128,455 $190,958 -0.3%
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

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Governance

Voting Members
9
Independent Members
8
Employees
5
Volunteers
8

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
7
$233,326
Total Directors
10
$26,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIAN KEYES MD SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
DAVID J HASS MD LEGISLATIVE CHAIRPERSON 1.00
Director
$0 $0 $6,000
DAVID K EMMEL MD OUTGOING LEGISLATIVE CHAIRPERSON 1.00
Director
$0 $0 $0
DEBORAH DESIR MD BOARD MEMBER 1.00
Director
$0 $0 $0
KATHERINE HARVEY MD COUNCIL CHAIR 1.00
Director
$0 $0 $0
KHURAM GHUMMAN MD PRESIDENT 1.00
Officer Director
$0 $0 $0
LAUREEN RUBINO MD BOARD MEMBER 1.00
Director
$0 $0 $0
MARIAM HAKIM-ZARGAR MD PRESIDENT ELECT 1.00
Officer Director
$0 $0 $0
ROBERT MCLEAN MD VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
STACY J TAYLOR MD IMMEDIATE PAST PRESIDENT 1.00
Officer Director
$20,000 $0 $20,000
LAYNE GAKOS EXECUTIVE DIRECTOR 38.00
Officer
$138,648 $11,621 $150,269
SUSAN SUCKLEY FINANCE MANAGER 35.00
Officer
$60,985 $2,072 $63,057
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
2024 $943,665 $815,210 $2,061,117 $128,455
2023 $1,053,908 $862,950 $1,901,800 $190,958
2022 $1,144,797 $900,417 $1,634,782 $244,380
2021 $1,201,082 $1,006,392 $1,803,405 $194,690
2020 $1,406,610 $1,298,254 $1,583,297 $108,356
2019 $1,896,539 $2,198,473 $1,734,805 $-301,934
2018 $1,986,484 $2,342,308 $1,889,412 $-355,824
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