INSTITUTE OF MEDICINE OF CHICAGO

EIN: 362217993 501(c)(3)

CHICAGO, IL

Total Revenue
$195,507
Total Expenses
$151,843
Total Assets
$579,683
Net Assets
$553,507
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1915
Legal Domicile
IL
Principal Officer
COURTNEY AVERY DAVIS MPH
Phone
3127092685
Tax Period
2024-01-01 to 2024-12-31

INSTITUTE OF MEDICINE OF CHICAGO, founded in 1915, is a small nonprofit that reported $196K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $44K, a strong 22% operating margin.

Mission

MISSION - THE INSTITUTE OF MEDICINE OF CHICAGO IS AN INDEPENDENT NON-PROFIT ORGANIZATION OF DISTINGUISHED LEADERS IN THE HEALTH FIELD WHO COLLABORATE TO IMPROVE THE HEALTH OF THE PUBLIC. DRAWING UPON THE EXPERTISE OF A DIVERSE MEMBERSHIP AND OTHER REGIONAL LEADERS, THE IOMC ADDRESSES CRITICAL HEALTH ISSUES THROUGH A RANGE OF INTERDISCIPLINARY APPROACHES INCLUDING EDUCATION, RESEARCH, COMMUNICATION OF TRUSTED INFORMATION, AND COMMUNITY ENGAGEMENT. WITH THE HEALTH OF THE PUBLIC AT ITS CORE, IOMC IS BUILDING NEW PROGRAMS AND SERVICES TO BETTER MEET THE NEEDS OF ITS MEMBERS AND THE CHICAGOLAND COMMUNITY, ITS COUNTIES AND THE STATE OF ILLINOIS. WWW.IOMC.ORG OUR MEMBERS ARE BILLINGS FELLOWS AND FELLOWS FROM THE METROPOLITAN CHICAGO AREA AND THE STATE OF ILLINOIS. THEY ARE ACADEMICS, PUBLIC HEALTH SPECIALISTS, PHYSICIANS, NURSES, PHARMACISTS, ADMINISTRATORS, COMMUNITY HEALTH SPECIALISTS, SOCIAL WORKERS, DENTISTS, EDUCATORS, LAWYERS AND COMMUNITY LEADERS. IOMC INDUCTED 18 NEW FELLOWS IN 2023.

Program Service Accomplishments

Program 1
Expenses: $83,185

ACCOMPLISHMENTS TO CONTINUE TO ADVANCE HEALTH EQUITY BY REDUCING HEALTHCARE DISPARITIES, IOMC CONDUCTED PROGRAMS TO DISCUSS, DETERMINE AND DEDICATE RESOURCES TO POSITIVELY IMPACT THE UNDERREPRESENTED...

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ACCOMPLISHMENTS TO CONTINUE TO ADVANCE HEALTH EQUITY BY REDUCING HEALTHCARE DISPARITIES, IOMC CONDUCTED PROGRAMS TO DISCUSS, DETERMINE AND DEDICATE RESOURCES TO POSITIVELY IMPACT THE UNDERREPRESENTED AND COMMUNITIES. PROGRAMMATIC SERIES OF WEBINARS- ADVANCING HEALTH EQUITY BY REDUCING HEALTH CARE DISPARITIES KEY PROGRAMMATIC AREAS ---------------------- THE KEY PROGRAMMATIC AREAS OF FOCUS ARE: 1.MATERNAL AND CHILD HEALTH 2.LEAD EXPOSURE- PATHWAYS TO CHILDREN AND COMMUNITIES 3.HOMELESSNESS 4.NURSING HOME REFORM 5.BEHAVIORAL HEALTH 6.DCFS YOUTH PLACEMENT CRISIS THE INSTITUTE OF MEDICINE CONDUCTED FOUR (4) WEBINARS IN 2024 ADDRESSING KEY ISSUES: 1)HEALTH EQUITY IN ORGANIZED MEDICINE (1.30.2024) 2)YOUTH MENTAL HEALTH - IDENTIFICATION & ACCESS TO CARE (3.8.2024) 3)MEET MS. SENDY SOTO - CHICAGO'S FIRST CHIEF HOMELESSNESS OFFICER (9.27.2024) 4)CRITICAL FOUNDATIONS OF HEALTHCARE ARTIFICIAL INTELLIGENCE (10.29.2024) IN ADDITION TO HOSTING EDUCATIONAL WEBINARS ON THESE KEY PROGRAMMATIC EFFORTS, IOMC HOSTED TWO IN-PERSON PROGRAMS, THEY ARE: 1)2024 ANNUAL HEALTHCARE LEADERSHIP AWARDS AND ANNUAL MEETING - JUNE 20, 2024 OVER 125 HEALTHCARE AND PUBLIC HEALTH LEADERS ATTENDED THE EVENT AND DISCUSSED THE KEY ISSUES IMPACTING UNDERREPRESENTED POPULATIONS, CHALLENGED COMMUNITIES AND THE PROGRAMMATIC ISSUES FOCUSED ON ADVANCING HEALTHCARE EQUITY. DR. ERIK MIKAITIS, MD, MBA, FACP, CPE- HE WAS APPOINTED AS THE INTERIM CHIEF EXECUTIVE OFFICER FOR COOK COUNTY HEALTH IN NOVEMBER 2023 BY THE COOK COUNTY BOARD OF COMMISSIONERS. DR. MIKAITIS PROVIDES EXECUTIVE LEADERSHIP TO ADVANCE THE HEALTH SYSTEM'S STRATEGIC IMPERATIVES AND ENSURE THE PROVISION OF HIGH-QUALITY CARE AND SERVICES IN COLLABORATION WITH CCH'S MEDICAL AND BUSINESS LEADERS. DAVID T. JONES WAS NAMED, BY GOV. PRITZKER, THE ASSOCIATE SECRETARY AT THE ILLINOIS DEPARTMENT OF HUMAN SERVICES (IDHS), WHERE HE SERVES AS THE STATEWIDE CHIEF BEHAVIORAL HEALTH OFFICER (CBHO). CHIEF JONES JOINED IDHS AS THE DIRECTOR OF THE DIVISION OF SUBSTANCE USE PREVENTION AND RECOVERY (SUPR) IN OCTOBER 2020. FOUR LEADERS WERE HONORED WITH LEADERSHIP AWARDS RECOGNIZING THEIR IMPACT IN: IOMC OUTSTANDING LEADERSHIP & COMPASSION AWARD IN HEALTHCARE RICHARD LIEBER, PHD, CHIEF SCIENTIFIC OFFICER AND SENIOR VICE PRESIDENT, SHIRLEY RYAN ABILITYLAB IOMC GLOBAL HUMANITARIAN AWARD DAMIANO RONDELLI, MD, MICHAEL REESE PROFESSOR OF HEMATOLOGY, UNIVERSITY OF ILLINOIS AT CHICAGO IOMC INNOVATION IN HEALTHCARE DELIVERY - INDIVIDUAL ARVIND K. GOYAL, MD, MPH, MBA, FAAFP, FACPM MEDICAL DIRECTOR, STATE OF ILLINOIS MEDICAID, DEPT. OF HEALTHCARE & FAMILY SERVICES, CLINICAL ASSOCIATE PROFESSOR, CHICAGO MEDICAL SCHOOL IOMC INNOVATION IN HEALTHCARE DELIVERY - ORGANIZATION ROSALIND FRANKLIN UNIVERSITY OF MEDICINE AND SCIENCE 2) THE ELECTION IS OVER- WHAT DOES IT MEAN FOR HEALTHCARE & PUBLIC HEALTH? - DECEMBER 4, 2024 OBJECTIVE: WHOEVER IS IN THE WHITE HOUSE, WHAT WOULD YOU LIKE THEM TO FOCUS ON AND HOW WOULD IT IMPACT HEALTHCARE AND PUBLIC HEALTH? SPEAKERS OLUSIMBO (SIMBO) IGE, MD, MPH, COMMISSIONER, CHICAGO DEPARTMENT OF PUBLIC HEALTH, COMMISSIONER'S OFFICE LAMAR HASBROUCK, MD, MPH, MBA, CHIEF OPERATING OFFICER, COOK COUNTY-DEPT. OF PUBLIC HEALTH JAN KITAJEWSKI, PHD, DIRECTOR OF CANCER RESEARCH AT UIHEALTH TERESA GARATE, PHD, MANAGING DIRECTOR, HEALTH MANAGEMENT ASSOCIATES MARILYN GRIFFIN, MD, DFAPA, DFAACAP, BEHAVIORAL HEALTH MEDICAL DIRECTOR, AETNA BETTER HEALTH OF ILLINOIS, A CVS HEALTH COMPANY THESE PROGRAMS ARE PART OF IOMC'S SERIES ON PUBLIC HEALTH, POPULATION AND COMMUNITY HEALTH, AND REDUCING HEALTH DISPARITIES TO ACHIEVE HEALTH EQUITIES. MATERNAL & CHILD HEALTH WORKGROUP IOMC CONTINUED TO ADDRESS TRANSPORTATION ISSUES WITH PROVIDERS WITH THE STATE OF ILLINOIS AND IDENTIFIED SOLUTIONS TO PROVIDE BETTER ACCESS TO CARE. THE PATIENT RESTRICTIONS WERE CLARIFIED WITH PROVIDERS WHICH OFFERED BETTER ACCESS TO CARE BY COLLABORATING WITH THE DEPARTMENT OF HEALTH AND FAMILY SERVICES-MEDICAID- STATE OF ILLINOIS. OBJECTIVES: - IDENTIFYING OB-MANAGED CARE NETWORKS AND LIMITED LEVEL II ULTRASOUND ON THE SOUTH SIDE. - ADDRESS THE LACK OF OB CARE IN SPECIFIC AREAS - ADDRESS THE LACK OF TRANSPORTATION PREVENTING ACCESS TO HEALTH CARE. - PROMOTE THE NEED FOR IMPLICIT BIAS TRAINING. - IDENTIFY PHANTOM NETWORKS AND COOK COUNTY/UIC DECLINING TO PROVIDE SERVICES FOR PLANS. - EXPAND BANDWIDTH WITH MENTAL HEALTH ISSUES. - EDUCATE OTHERS AND THE STATE OF ILLINOIS ON NEED FOR BEHAVIORAL HEALTH. BEHAVIORAL HEALTH WORKGROUP THE BEHAVIORAL HEALTH WORKGROUP WAS ESTABLISHED TO ADDRESS IMPERATIVE ISSUES. THE WORKGROUP DEFINED ITS PURPOSE, OBJECTIVES AND WORKING ON AN ACTION PLAN TO DRIVE IMPACT TO MEETING ITS GOALS. PURPOSE: THE PURPOSE OF THE BEHAVIORAL HEALTH WORKGROUP IS TO IMPROVE EQUITABLE ACCESS TO QUALITY BEHAVIORAL HEALTHCARE IN ILLINOIS. OBJECTIVES: - INTEGRATIVE CARE - COLLABORATIVE STRATEGIES TO BRIDGE THE GAP BETWEEN BEHAVIORAL AND PHYSICAL HEALTH - ILLINOIS BEHAVIORAL HEALTHCARE WORKFORCE CHALLENGES, BEST PRACTICES AND NATIONAL TRENDS - HEALTH EQUITY INCLUDING GEOGRAPHY AND ACCESS TO CARE APPROACH: 1) IDENTIFY URGENT NEEDS & GAPS 2) ADDRESS IMMEDIATE CLINICAL - BASED CARE 3) PROMOTE ASSESSMENT-DRIVEN MENTAL HEALTH CARE GOALS: - IDENTIFY THE MENTAL HEALTH CHALLENGES AND IMPROVE OPTIONS FOR CARE - DESCRIBE THE OPIOID CRISIS AND ITS RELATIONSHIP TO BEHAVIORAL HEALTH - RELATE THE HUMAN, ECONOMIC, AND SOCIAL IMPACT TO COSTS TO COMMUNITIES THESE PROGRAMS ARE PART OF IOMC'S SERIES ON PUBLIC HEALTH, POPULATION AND COMMUNITY HEALTH, AND REDUCING HEALTH DISPARITIES TO ACHIEVE HEALTH EQUITIES. IOMC INDUCTED NEW 27 FELLOWS IN 2024. ACHIEVE - MEDICAL AND DENTAL STUDENT CAREER AND NETWORKING PROGRAM ACHIEVE PROGRAM CONTINUED TO GROW - COMPRISED OF 60 STUDENTS IN THE CAREER AND NETWORKING PROGRAM. IT OFFERS PROGRAMS THROUGHOUT THE YEAR TO SUPPORT CURRENTLY ENROLLED STUDENTS, MALE, BLACK OR LATINO, IN A FOUR-YEAR ACCREDITED UNIVERSITY OR COLLEGE PROGRAM LOCATED IN THE CHICAGO AREA. IN 2020, THE INSTITUTE OF MEDICINE OF CHICAGO (IOMC) WAS AWARDED A TWO-YEAR GRANT TO DEVELOP A CAREER MENTORING AND NETWORKING PROGRAM FOR BLACK AND LATINO MALE MEDICAL AND DENTAL STUDENTS CURRENTLY ENROLLED IN ACCREDITED FOUR-YEAR MEDICAL OR DENTAL SCHOOLS AND UNIVERSITIES. THE OTHO S.A. SPRAGUE MEMORIAL INSTITUTE PROVIDED A FUNDING GRANT TO DEVELOP THIS PROGRAM. GRADUATION RATES HAVE DECREASED IN BLACK AND LATINO MALE MEDICAL AND DENTAL STUDENTS SINCE 1917. THIS SPECIFIC PROGRAM AIMS TO ENCOURAGE AND SUPPORT STUDENTS AND ASSIST IN BUILDING A SOLID NETWORK IN THEIR RESPECTIVE FIELDS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $118,702
Program Service Revenue $56,625
Investment Income $20,180
Other Revenue $0
TOTAL REVENUE $195,507

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $5,885
Program Expenses $83,185
Other Expenses $151,843
TOTAL EXPENSES $151,843

Year-over-Year Comparison

2024 2023 Change
Revenue $195,507 $174,396 +0.1%
Expenses $151,843 $291,442 -0.5%
Net Income $43,664 $-117,046 -1.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
20
Independent Members
20
Employees
N/A
Volunteers
33

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
9
$0
Total Directors
20
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
COURTNEY AVERY DAVIS MPH PRES ELECT/P 2.50
Officer Director
$0 $0 $0
LORENZO PENCE DO PRESIDENT/ P 2.50
Officer Director
$0 $0 $0
PATRICIA MERRYWEATHER-ARGES MA SECRETARY 2.50
Officer Director
$0 $0 $0
CLARK STANFORD PHD DDS MHA TREASURER 3.50
Officer Director
$0 $0 $0
RAUL GARZA MBA PAST PRESIDE 2.50
Officer Director
$0 $0 $0
NELI VAZQUEZ-ROWLAND DIRECTOR/PRE 2.50
Officer Director
$0 $0 $0
DORIANE MILLER MD DIRECTOR/VIC 2.50
Officer Director
$0 $0 $0
ARCHANA CHATTERJEE MD DIRECTOR/SEC 2.50
Officer Director
$0 $0 $0
LISA GREEN DO MPH VICE PRES/DI 1.00
Officer Director
$0 $0 $0
IAN JASENOF MD FACOG MHA CPE DIRECTOR 1.00
Director
$0 $0 $0
TOM ALLEN MD DIRECTOR 3.00
Director
$0 $0 $0
HOWARD NOCHUMSON MA DIRECTOR 1.00
Director
$0 $0 $0
ANITA STEWART MD MPH JD MBA DIRECTOR 2.00
Director
$0 $0 $0
MAURICE LEMON MD DIRECTOR 1.00
Director
$0 $0 $0
PETER ORRIS MD MPH DIRECTOR 1.25
Director
$0 $0 $0
FERNANDO DEMAIO PHD DIRECTOR 1.50
Director
$0 $0 $0
DAWN GAY MBA-HCM DIRECTOR 1.00
Director
$0 $0 $0
KALEEM MALIK MD MPH MS DIRECTOR 1.50
Director
$0 $0 $0
BEENA PETERS DNP RN DIRECTOR 1.50
Director
$0 $0 $0
MYRTIS SULLIVAN MD MPH FAAP DIRECTOR 1.00
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 $195,507 $151,843 $579,683 $43,664
2023 $174,396 $291,442 $528,254 $-117,046
2022 $148,580 $241,840 $597,049 $-93,260
2021 $328,529 $219,953 $815,391 $108,576
2020 $241,912 $195,941 $768,551 $45,971
2019 $292,928 $249,747 $612,333 $43,181
2019 $292,928 $249,747 $612,333 $43,181
2018 $246,253 $213,245 $538,739 $33,008
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