CHICAGO MEDICAL SOCIETY FOUNDATION

EIN: 362171684 501(c)(3) Diseases & Disorders

CHICAGO, IL

Total Revenue
$759,881
Total Expenses
$557,558
Total Assets
$4,014,612
Net Assets
$2,439,446
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1905
Legal Domicile
IL
Principal Officer
THEODORE KANELLAKES
Phone
3126702550
Tax Period
2023-01-01 to 2023-12-31

CHICAGO MEDICAL SOCIETY FOUNDATION, founded in 1905, is a small nonprofit in the Diseases & Disorders sector that reported $760K in total revenue in fiscal year 2023. Revenue fell 39% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $202K, a strong 27% operating margin.

Mission

THE CULTIVATION OF THE SCIENCE AND ART OF MEDICINE, THE INTERCHANGE OF PROFESSIONAL EXPERIENCE, THE EDUCATION OF ITS MEMBERS AND THE PUBLIC IN CURRENT MEDICAL TRENDS AND TECHNIQUES

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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 $163,166
Program Service Revenue $161,437
Investment Income $35,181
Other Revenue $400,097
TOTAL REVENUE $759,881

Expense Breakdown

Grants Paid $0
Salaries & Benefits $162,188
Fundraising Expenses $0
Program Expenses $28,616
Other Expenses $395,370
TOTAL EXPENSES $557,558

Year-over-Year Comparison

2023 2022 Change
Revenue $759,881 $1,237,945 -0.4%
Expenses $557,558 $491,330 +0.1%
Net Income $202,323 $746,615 -0.7%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
7
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
5
$263,023
Total Directors
5
$263,023
Key Employees
1
$263,023
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TED KANELLAKES EXECUTIVE DIRECTOR 012.00
Officer Director Key Emp
$263,023 $0 $263,023
MEGAN WHALEN VP OF CMS INSURANCE AGENCY N/A
Highest
$141,568 $0 $141,568
PATRICK DERSE DIRECTOR OF FINANCE 014.00
Highest
$110,856 $0 $110,856
RAJ B LAL MD CHAIRMAN 002.00
Officer Director
$0 $0 $0
MICHAEL R TREISTER MD VICE-CHAIRMAN 002.00
Officer Director
$0 $0 $0
EDWARD S LINN MD SECRETARY 002.00
Officer Director
$0 $0 $0
ROBERT BERNAT MD TREASURER 002.00
Officer 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 $759,881 $557,558 $4,014,612 $202,323
2022 $1,237,945 $491,330 $3,956,909 $746,615
2021 $905,117 $572,722 $4,197,917 $332,395
2020 $386,057 $1,444,574 $4,387,955 $-1,058,517
2019 $454,458 $1,110,264 $4,539,612 $-655,806
2018 $789,958 $692,405 $4,570,493 $97,553
2017 $719,094 $817,618 $4,460,757 $-98,524
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