Educational and Scientific Foundation of the Illinois State Medical Society

EIN: 366078979 501(c)(3)

CHICAGO, IL

Total Revenue
$114,545
Total Expenses
$76,345
Total Assets
$2,298,972
Net Assets
$2,252,945
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1961
Legal Domicile
IL
Phone
3127821654
Tax Period
2023-01-01 to 2023-12-31

Educational and Scientific Foundation of the Illinois State Medical Society, founded in 1961, is a small nonprofit that reported $115K in total revenue in fiscal year 2023. Revenue surged 143% from the prior year, signaling strong growth momentum. The organization ran a surplus of $38K, a strong 33% operating margin.

Mission

TO PROMOTE EDUCATIONAL, SCIENTIFIC, CHARITABLE, AND BENEVOLENT INTERESTS IN ILLINOIS. THE BOARD PERIODICALLY ESTABLISHES PROJECTS FOR ADMINISTRATIVE PURPOSES IN ACCOMPLISHING THE FOUNDATION OBJECTIVES.

Program Service Accomplishments

Program 1
Expenses: $36,330

TO IMPLEMENT AND MANAGE LOANS TO MEDICAL STUDENTS AND THE IMPLEMENTATION OF EDUCATIONAL PROGRAMS FOR PHYSICIANS AND PATIENTS.

Program 2
Expenses: $6,816

TO PROVIDE BENEVOLENCE TO NEEDY DOCTORS AND THEIR FAMILIES WHO ARE MEMBERS OF THE ILLINOIS STATE MEDICAL SOCIETY.

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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 $60,840
Program Service Revenue $0
Investment Income $53,705
Other Revenue $0
TOTAL REVENUE $114,545

Expense Breakdown

Grants Paid $43,146
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $43,146
Other Expenses $33,199
TOTAL EXPENSES $76,345

Year-over-Year Comparison

2023 2022 Change
Revenue $114,545 $47,144 +1.4%
Expenses $76,345 $75,185 +0.0%
Net Income $38,200 $-28,041 -2.4%
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
2
Employees
N/A
Volunteers
2

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
3
$342,375
Total Directors
5
$146,761
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A CHAIR 0.3
Officer Director
$0 $0 $63,679
N/A Trustee (Term End 04/19/23) 0.3
Director
$0 $0 $0
N/A TRUSTEE 0.3
Director
$0 $0 $0
N/A Trustee 0.3
Director
$0 $0 $6,510
N/A TRUSTEE 0.3
Director
$0 $0 $76,572
N/A COO 0.3
Officer
$0 $0 $199,305
N/A CFO 0.3
Officer
$0 $0 $79,391
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 $114,545 $76,345 $2,298,972 $38,200
2022 $47,144 $75,185 $2,103,658 $-28,041
2021 $652,981 $54,715 $2,232,227 $598,266
2020 $103,243 $44,701 $1,220,425 $58,542
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