MICHIGAN STATE MEDICAL SOCIETY

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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

1866

Legal Domicile

Principal Officer

TOM M GEORGE MD

Phone

5173371351

Tax Period

2022-12-01 to 2023-11-30

MICHIGAN STATE MEDICAL SOCIETY, founded in 1866, is a community nonprofit that reported $3.9M in total revenue in fiscal year 2022. Expenses of $4.8M exceeded revenue, resulting in a 23% operating deficit.

Mission

PROMOTE A HEALTH CARE ENVIRONMENT THAT SUPPORTS PHYSICIANS IN CARING FOR AND ENHANCING THE HEALTH OF MICHIGAN CITIZENS THROUGH SCIENCE, QUALITY, AND ETHICS IN THE PRACTICE OF MEDICINE.

Program Service Accomplishments

Program 1

TO EDUCATE MEMBERS AND THE PUBLIC ON MEDICAL ISSUES AND PROMOTE THE INTERESTS OF THE HEALTH CARE INDUSTRY.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $50,000

Program Service Revenue $2,444,725

Investment Income $522,606

Other Revenue $888,793

TOTAL REVENUE $3,906,124

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,217,626

Fundraising Expenses $0

Other Expenses $1,593,465

TOTAL EXPENSES $4,811,091

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,906,124	$4,081,856	0.0%
Expenses	$4,811,091	$5,463,961	-0.1%
Net Income	$-904,967	$-1,382,105	-0.3%

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

Governance

Voting Members

Independent Members

Employees

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

$58,532

Total Directors

$37,500

Key Employees

$678,177

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANNA KANG	DIRECTOR	1.00	Director	$0	$0	$0
ANNETTE GILMER MD MPH	DIRECTOR	1.00	Director	$0	$0	$0
BELEN AMAT MD	DIRECTOR	1.00	Director	$0	$0	$0
BRADLEY J UREN MD	DIRECTOR - VICE CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN R STORK MD	DIRECTOR	1.00	Director	$0	$0	$0
BRYAN W HUFFMAN MD	DIRECTOR - VICE SPEAKER	1.00	Officer Director	$0	$0	$0
CHRISTOPHER MILBACK MD MBA	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL M RYAN MD	DIRECTOR	1.00	Director	$0	$0	$0
DAVID T WALSWORTH MD	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS M RAMUS MD	DIRECTOR	1.00	Director	$0	$0	$0
DONALD P CONDIT MD MBA	DIRECTOR	1.00	Director	$0	$0	$0
EKATERINA LAVROUSHINA CLARK	DIRECTOR	1.00	Director	$0	$0	$0
ERIC L LARSON MD	DIRECTOR	1.00	Director	$0	$0	$0
F REMINGTON SPRAGUE MD	DIRECTOR - EX-OFFICIO MEMBER	1.00	Director	$0	$0	$0
HERBERT C SMITHERMAN JR MD	DIRECTOR	1.00	Director	$0	$0	$0
JAYNE E COURTS MD FACP	DIRECTOR - SECRETARY	1.00	Officer Director	$0	$0	$0
JENNIFER E MORESE MD MPH	DIRECTOR	1.00	Director	$0	$0	$0
JOHN A WATERS MD	DIRECTOR - TREASURER	1.00	Officer Director	$2,500	$0	$2,500
KAITLYN D DOBESH MD JD	DIRECTOR	1.00	Director	$0	$0	$0
LARRY R JUNCK MD	DIRECTOR	1.00	Director	$0	$0	$0
LEAH C DAVIS DO	DIRECTOR	1.00	Director	$0	$0	$0
M SALIM SIDDIQUI MD PHD	DIRECTOR - PRESIDENT	1.00	Officer Director	$0	$0	$0
MARK C KOMOROWSKI MD	DIRECTOR - PRESIDENT-ELECT	1.00	Officer Director	$12,500	$0	$12,500
MARK E MEYER MD	DIRECTOR	1.00	Director	$0	$0	$0
MELANIE S MANARY MD	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL A KREMMER MD	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL J REDINGER MD	DIRECTOR	1.00	Director	$0	$0	$0
MILDRED J WILLY MD	DIRECTOR	1.00	Director	$0	$0	$0
NITA M KULKARNI MD	DIRECTOR	1.00	Director	$0	$0	$0
PAUL D BOZYK MD	DIRECTOR - CHAIR	1.00	Officer Director	$0	$0	$0
PAUL S HARKAWAY MD	DIRECTOR	1.00	Director	$0	$0	$0
PHILLIP G WISE MD	DIRECTOR - SPEAKER	1.00	Officer Director	$2,500	$0	$2,500
PINO D COLONE MD	DIRECTOR - PAST PRESIDENT	1.00	Officer Director	$15,000	$0	$15,000
PONON DILEEP KUMAR MD MBA	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT FRANCIS FLORA MD MBA	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT M DOANE MD	DIRECTOR	1.00	Director	$0	$0	$0
RYAN J BRANG MD	DIRECTOR	1.00	Director	$0	$0	$0
T JANN CAISON SOREY MD MSA	DIRECTOR - PAST SECRETARY	1.00	Officer Director	$2,500	$0	$2,500
TALAT DANISH MD MPH FAAP	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS J VEVERKA MD FACS	DIRECTOR - IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$2,500	$0	$2,500
S BOBBY MUKKAMALA MD	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
TABITHA MOSES	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
GUNJAN MALHOTRA MD	DIRECTOR - PART YEAR	1.00	Director	$0	$0	$0
THOMAS M GEORGE MD	CEO	28.00	Officer	$21,032	$0	$21,032
BENJAMIN LOUAGIE	CSO	32.00	Key Emp	$228,388	$27,128	$255,516
LAUCHLIN MACGREGOR	CFO	21.00	Key Emp	$206,091	$39,771	$245,862
KEVIN MCFATRIDGE	COO	17.00	Key Emp	$0	$19,951	$176,799
REBECCA BLAKE	SENIOR DIRECTOR	36.50	Highest	$135,373	$33,058	$168,431
CARL RICHARDS	SENIOR DIRECTOR	37.50	Highest	$139,095	$29,224	$168,319
VIRGINIA GIBSON	SENIOR DIRECTOR	7.50	Highest	$151,736	$14,886	$166,622
JOSIAH KISSLING	SENIOR DIRECTOR	37.50	Highest	$153,541	$30,192	$183,733
STACEY HETTIGER	SENIOR DIRECTOR	37.50	Highest	$124,486	$18,630	$143,116
JULIE NOVAK	FORMER CEO	28.50		$384,384	$34,279	$418,663

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$3,906,124	$4,811,091	$11,497,455	$-904,967
2022	$4,081,856	$5,463,961	$12,790,143	$-1,382,105
2021	$5,010,247	$5,158,120	$15,401,993	$-147,873
2020	$5,012,400	$4,726,877	$14,766,490	$285,523
2019	$6,063,537	$5,693,910	$13,874,651	$369,627
2018	$5,762,703	$5,390,359	$13,599,970	$372,344