CHICAGO MEDICAL SOCIETY

EIN: 300126886 Community Improvement

CHICAGO, IL

Total Revenue
$521,598
Total Expenses
$676,318
Total Assets
$2,148,395
Net Assets
$78,546
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
IL
Principal Officer
THEODORE KANELLAKES
Phone
3126702550
Tax Period
2024-01-01 to 2024-12-31

CHICAGO MEDICAL SOCIETY, founded in 2002, is a small nonprofit in the Community Improvement sector that reported $522K in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $676K exceeded revenue, resulting in a 30% operating deficit.

Mission

ORGANIZATION MISSION OR SIGNIFICANT ACTIVITIES - THE SOCIETYS PURPOSE IS TO PROMOTE FURTHER UNDERSTANDING OF THE MEDICAL PROFESSION AND TO PROVIDE EDUCATION TO MIDCIAL PROFESSIONALS PHYSICIANS OF COOK COUNTY, IL. THIS INCLUDES LITERATURE, PERIODICALS, MEETINGS AND FORMS FOR THE ADVANCEMENT OF THE PRACTICE OF MEDICINE. THE SOCIETY ASSISTS IN THE PROMOTION OF THE PUBLIC HEALTH BY MAINTAINING AWARENESS OF IMPORTANT ISSUES AND BY PROVIDING PUBLIC EDUCATION AND INFORMATION.

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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 $100,000
Program Service Revenue $319,482
Investment Income $29,074
Other Revenue $73,042
TOTAL REVENUE $521,598

Expense Breakdown

Grants Paid $0
Salaries & Benefits $226,792
Fundraising Expenses $0
Program Expenses $234,974
Other Expenses $449,526
TOTAL EXPENSES $676,318

Year-over-Year Comparison

2024 2023 Change
Revenue $521,598 $591,682 -0.1%
Expenses $676,318 $743,945 -0.1%
Net Income $-154,720 $-152,263 +0.0%
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

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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
17
Independent Members
17
Employees
N/A
Volunteers
N/A

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
$263,254
Total Directors
17
$0
Key Employees
1
$263,254
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TED KANELLAKES EXECUTIVE DIRECTOR 014.00
Officer Key Emp
$0 $0 $263,254
MEGAN WHALEN VP OF CMS INSURANCE AGENCY 014.00
Highest
$0 $0 $135,754
PATRICK DERSE DIRECTOR OF FINANCE 014.00
Highest
$0 $0 $110,856
VEMURI S MURTHY MD CHAIRMAN OF THE BOARD 002.00
Officer Director
$0 $0 $0
A JAY K CHAUHAN DO IMMEDIATE PAST PRESIDENT 002.00
Officer Director
$0 $0 $0
TARIQ BUTT MD PRESIDENT/TREASURER 002.00
Officer Director
$0 $0 $0
CHRISTINE P BISHOF MD CHAIR OF THE COUNCIL 002.00
Officer Director
$0 $0 $0
VICTOR ROMANO MD VICE-CHAIR OF COUNCIL 002.00
Officer Director
$0 $0 $0
NIVA LUBIN-JOHNSON MD DIRECTOR 002.00
Director
$0 $0 $0
ANNE G SZPINDOR MD DIRECTOR 002.00
Director
$0 $0 $0
CHERYL D WOLFE MD DIRECTOR 002.00
Director
$0 $0 $0
EDWARD S LINN MD DIRECTOR 002.00
Director
$0 $0 $0
ROGER RODRIGUES MD DIRECTOR 002.00
Director
$0 $0 $0
MICHAEL R TREISTER MD DIRECTOR 002.00
Director
$0 $0 $0
TRISTA NEGELE MD DIRECTOR 002.00
Director
$0 $0 $0
RAJ B LAL MD SECRETARY 002.00
Officer Director
$0 $0 $0
ROBERT BERNAT MD DIRECTOR 002.00
Director
$0 $0 $0
LANCE WALLACE MD DIRECTOR 002.00
Director
$0 $0 $0
TERRY VANDEN HOEK MD DIRECTOR 002.00
Director
$0 $0 $0
SREENIVAS REDDY MD DIRECTOR 002.00
Director
$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 $521,598 $676,318 $2,148,395 $-154,720
2023 $591,682 $743,945 $2,099,375 $-152,263
2022 $212,800 $694,567 $2,068,080 $-481,767
2021 $659,770 $749,963 $2,651,392 $-90,193
2020 $689,354 $809,772 $2,673,213 $-120,418
2019 $751,854 $781,090 $2,484,943 $-29,236
2018 $779,583 $788,181 $2,102,898 $-8,598
2017 $868,813 $848,870 $2,280,099 $19,943
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