MEDICAL SOCIETY OF THE STATE OF NEW YORK

EIN: 131030760

WESTBURY, NY

Total Revenue
$6,695,868
Total Expenses
$6,689,483
Total Assets
$21,519,017
Net Assets
$18,550,340
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1807
Legal Domicile
NY
Principal Officer
THOMAS LEE MD
Phone
5164886100
Tax Period
2023-01-01 to 2023-12-31

MEDICAL SOCIETY OF THE STATE OF NEW YORK, founded in 1807, is a community nonprofit that reported $6.7M in total revenue in fiscal year 2023. Net assets of $18.6M represent 33 months of operating reserves.

Mission

TO CONTRIBUTE TO THE PROFESSIONAL DEVELOPMENT OF MEMBER PHYSICIANS, TO SERVE AS A RESOURCE FOR ITS MEMBERS AND ASSIST THEM IN ADDRESSING THE MANY ISSUES AND NEEDS WHICH THEY FACE IN PROVIDING HEALTH CARE TO THE RESIDENTS OF NEW YORK STATE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $4,437,481
Program Service Revenue $25,995
Investment Income $556,035
Other Revenue $1,676,357
TOTAL REVENUE $6,695,868

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,331,085
Fundraising Expenses $0
Program Expenses $4,687,703
Other Expenses $2,358,398
TOTAL EXPENSES $6,689,483

Year-over-Year Comparison

2023 2022 Change
Revenue $6,695,868 $6,664,655 +0.0%
Expenses $6,689,483 $6,668,510 +0.0%
Net Income $6,385 $-3,855 -2.7%
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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Governance

Voting Members
19
Independent Members
19
Employees
47
Volunteers
650

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
12
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TROY OECHSNER EXECUTIVE VP 35.00
$348,054 $0 $348,054
JEFFREY SELZER MEDICAL DIRE 35.00
Highest
$207,963 $0 $207,963
MORRIS AUSTER ASSOCIATE CO 35.00
Highest
$170,315 $0 $170,315
PATRICIA CLANCY VP OF PUBLIC 35.00
Highest
$149,038 $0 $149,038
JOHN VECCHIO CONTROLLER 35.00
Highest
$140,633 $0 $140,633
TERRANCE BEDIENT VICE PRESIDE 35.00
Highest
$119,266 $0 $119,266
CHARLES ROTHBERG MD TRUSTEE 2.00
Director
$0 $0 $0
JEROME C COHEN MD PRESEDENT EL 20.00
Director
$0 $0 $0
NAMEER HAIDER MD TRUSTEE N/A
Director
$0 $0 $0
ROBERT FRANKEL MD CHAIR N/A
Director
$0 $0 $0
SANA BLOCH MD TRUSTEE N/A
Director
$0 $0 $0
THOMAS J MADEJSKI MD TRUSTEE 2.00
Director
$0 $0 $0
BERNADETTE RILEY DO ASSISTANT SE 2.00
Officer
$0 $0 $0
ARTHUR C FOUGNER MD TRUSTEE N/A
Officer
$0 $0 $0
BONNIE L LITVACK MD TRUSTEE/DIRE N/A
Officer
$0 $0 $0
DAVID JAKUBOWICZ MD VICE PRESIDE 2.00
Officer
$0 $0 $0
FRANK G DOWLING MD ASSISTANT TR N/A
Officer
$0 $0 $0
HOWARD H HUANG MD SECRETARY 2.00
Officer
$0 $0 $0
LUIS CARLOS ZAPATA MD VICE SPEAKER 2.00
Officer
$0 $0 $0
MARK J ADAMS MD TREASURER 2.00
Officer
$0 $0 $0
PARAG H MEHTA MD PAST PRESIDE 10.00
Officer
$0 $0 $0
PAUL PIPIA MD PRESIDENT 10.00
Officer
$0 $0 $0
THOMAS LEE MD EXECUTIVE VI 35.00
Officer
$0 $0 $0
WILLIAM R LATREIILE JR MD SPEAKER N/A
Officer
$0 $0 $0
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 No data No data No data No data
2023 $6,695,868 $6,689,483 $21,519,017 $6,385
2022 $6,664,655 $6,668,510 $20,179,374 $-3,855
2021 $6,678,439 $6,370,774 $23,626,898 $307,665
2020 $6,610,688 $6,625,828 $21,376,354 $-15,140
2019 $11,640,097 $8,087,071 $20,580,061 $3,553,026
2018 $6,580,020 $6,574,571 $19,202,864 $5,449
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