FORT WAYNE MEDICAL SOCIETY FOUNDATION INC

EIN: 356049685 501(c)(3) Health Care

FORT WAYNE, IN

Total Revenue
$9,041,513
Total Expenses
$10,179,020
Total Assets
$6,448,969
Net Assets
$2,175,217
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1976
Legal Domicile
IN
Principal Officer
JOEL HARMEYER
Phone
2604201011
Tax Period
2023-01-01 to 2023-12-31

FORT WAYNE MEDICAL SOCIETY FOUNDATION INC, founded in 1976, is a community nonprofit in the Health Care sector that reported $9.0M in total revenue in fiscal year 2023. Revenue surged 162% from the prior year, signaling strong growth momentum. Expenses of $10.2M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO MAKE DONATIONS TO OTHER CHARITABLE 501(C)(3) ORGANIZATIONS, TO ENCOURAGE AND DEVELOP EDUCATIONAL AND SCIENTIFIC ACTIVITY IN THE FIELD OF MEDICAL SCIENCE IN ALLEN COUNTY AND TO PROMOTE THE BETTERMENT OF PUBLIC HEALTH.

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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 $5,969,292
Program Service Revenue $3,008,310
Investment Income $-16,619
Other Revenue $80,530
TOTAL REVENUE $9,041,513

Expense Breakdown

Grants Paid $44,832
Salaries & Benefits $8,079,198
Fundraising Expenses $0
Program Expenses $9,099,240
Other Expenses $2,054,990
TOTAL EXPENSES $10,179,020

Year-over-Year Comparison

2023 2022 Change
Revenue $9,041,513 $3,449,582 +1.6%
Expenses $10,179,020 $12,097,698 -0.2%
Net Income $-1,137,507 $-8,648,116 -0.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
12
Employees
117
Volunteers
45

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
5
$414,830
Total Directors
15
$786,422
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ZACHRY WATERSON DO DIRECTOR 0.50
Director
$359,535 $41,687 $401,222
AARON CORAY DO ASSOC. PROGR 40.00
Highest
$281,082 $35,436 $316,518
ERIN JEFFERSON DO SECRETARY 0.50
Officer Director
$279,000 $32,327 $311,327
KIMBERLY SCHELB MD ASSOC. PROGR 40.00
Highest
$286,000 $21,504 $307,504
STEVEN SCHWIETERMAN MD ASSOC. PROGR 40.00
Highest
$266,236 $35,436 $301,672
ROBERT WILKINS MD ASSOC. PROGR 40.00
Highest
$261,000 $29,415 $290,415
AIWEN LIU MD ASSOC. PROGR 40.00
Highest
$188,629 $23,937 $212,566
JOEL HARMEYER EXEC. DIRECT 2.00
Officer
$0 $15,681 $103,503
JOEL VALCARCEL MD DIRECTOR 0.50
Director
$65,019 $8,854 $73,873
LINDA BUSKIRK DIRECTOR 0.50
Director
$0 $0 $0
CHRISTINA TATARA DO DIRECTOR 0.50
Director
$0 $0 $0
BRIAN HERR MD DIRECTOR 0.50
Director
$0 $0 $0
DAVID DONALDSON MD DIRECTOR 0.50
Director
$0 $0 $0
DAVID SMITH MD DIRECTOR 0.50
Director
$0 $0 $0
FEN-LEI CHANG MD BOARD CHAIRM 0.50
Officer Director
$0 $0 $0
GREGORY POND MD TREASURER 0.50
Officer Director
$0 $0 $0
JOSHUA WALLET MD DIRECTOR 0.50
Director
$0 $0 $0
LUCIA FOUTS MD DIRECTOR 0.50
Director
$0 $0 $0
PREETI DEMBLA MD DIRECTOR 0.50
Director
$0 $0 $0
SHARON SINGLETON MD PRESIDENT 0.50
Officer Director
$0 $0 $0
ROGER REECE DIRECTOR 0.50
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 No data No data No data No data
2023 $9,041,513 $10,179,020 $6,448,969 $-1,137,507
2022 $3,449,582 $12,097,698 $8,898,126 $-8,648,116
2021 $11,660,059 $12,294,496 $12,399,557 $-634,437
2020 $13,602,520 $13,747,567 $13,733,446 $-145,047
2019 $13,452,605 $13,460,410 $13,714,147 $-7,805
2018 $13,261,599 $12,722,653 $13,871,221 $538,946
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