WISCONSIN MEDICAL SOCIETY FOUNDATI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

ELIZABETH RINGLE

Phone

6084423800

Tax Period

2023-01-01 to 2023-12-31

WISCONSIN MEDICAL SOCIETY FOUNDATION INC, founded in 1955, is a small nonprofit that reported $832K in total revenue in fiscal year 2023. Revenue surged 70% from the prior year, signaling strong growth momentum. Net assets of $13.8M represent 199 months of operating reserves.

Mission

TO ADVANCE THE HEALTH OF THE PEOPLE OF WISCONSIN BY SUPPORTING MEDICAL EDUCATION AND HEALTH INITIATIVES.

Program Service Accomplishments

Program 1

Expenses: $402,285 Revenue: $149,566

MEDICAL EDUCATION:- STUDENT LOAN AND SCHOLARSHIP PROGRAMALL STUDENT LOANS ARE AWARDED TO STUDENTS ATTENDING THE MEDICAL COLLEGE OF WISCONSIN OR THE UNIVERSITY OF WISCONSIN SCHOOL OF MEDICINE AND...

MEDICAL EDUCATION:- STUDENT LOAN AND SCHOLARSHIP PROGRAMALL STUDENT LOANS ARE AWARDED TO STUDENTS ATTENDING THE MEDICAL COLLEGE OF WISCONSIN OR THE UNIVERSITY OF WISCONSIN SCHOOL OF MEDICINE AND PUBLIC HEALTH. STUDENT LOANS TOTALING $405,000 WERE AWARDED IN 2023 TO 41 STUDENTS. THESE LOANS ARE INTEREST-FREE WHILE THE STUDENT IS IN SCHOOL AND OFFER GENEROUS DEFERRAL AND REPAYMENT TERMS.SCHOLARSHIP APPLICATIONS ARE REVIEWED BY A SCHOLARSHIP COMMITTEE THAT DETERMINES RECIPIENTS AND THE AMOUNT OF EACH AWARD. THERE ARE ALSO FUTURE SUPERHERO OF MEDICINE SCHOLARSHIPS AWARDED FOR UNDER REPRESENTED MINORITIES. IN 2023, SUPERHERO OF MEDICINE SCHOLARHIPS WERE AWARDED TO 8 STUDENTS TO ACCESS TEST PREP RESOURCES FOR THE MCAT AND STEP 1 AND 2 EXAMS. IN 2023, 72 SCHOLARSHIPS WERE AWARDED TOTALING $212,785.

Program 2

Expenses: $34,949

MENTORING: THE FOUNDATION OFFERS TWO MENTORING PROGRAMS. THROUGH THE WHITE COAT CAMPAIGN, THE FOUNDATION PROVIDES A WHITE COAT FOR EACH FIRST-YEAR MEDICAL STUDENT ATTENDING SCHOOL IN WISCONSIN ALONG WITH A LETTER OF WELCOME AND ENCOURAGEMENT FROM A DONOR PHYSICIAN. A TOTAL OF 437 WHITE COATS WERE AWARDED IN 4 CEREMONIES FROM EARLY JULY TO LATE AUGUST. THE FOUNDATION ALSO OFFERS OPERATION: EDUCATION, A FUN AND EDUCATIONAL PROGRAM HELD AT BOTH MEDICAL SCHOOLS. THIS BRINGS TOGETHER MEDICAL STUDENTS AND PHYSICIANS TO ENGAGE IN CONVERSATIONS ABOUT SPECIALTY AND PRIMARY CARE OPTIONS AVAILABLE TO THEM.

Program 3

Expenses: $152,129

PUBLIC HEALTH:-GRANTS PROGRAMTHE FOUNDATION'S GRANTS PROGRAM IS ADMINISTERED THROUGH ITS GRANT COMMITTEE. APPLICATIONS ARE ACCEPTED AND GRANTS ARE AWARDED FOR COMMUNITY HEALTH EDUCATION AND RESEARCH INITIATIVES. GRANT RECIPIENTS ARE REQUIRED TO REPORT THEIR RESULTS AND USE OF THE GRANT FUNDS. IN 2023, THE FOUNDATION AWARDED 18 GRANTS FOR A TOTAL OF $72,200.-SUMMER FELLOWSHIP PROGRAMTHE FOUNDATION'S GRANT COMMITTEE ALSO ADMINSTERS ITS SUMMER FELLOWSHIP PROGRAM. THE PROGRAM OFFERS MEDICAL STUDENTS OPPORTUNITIES TO GAIN VALUABLE, HANDS-ON EXPERIENCE IN COMMUNITY HEALTH EDUCATION OR RESEARCH DURING MEDICAL SCHOOL. IN 2023, 7 FELLOWSHIPS WERE AWARDED TOTALING $27,500.

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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 (2023)

Revenue Breakdown

Contributions & Grants $359,761

Program Service Revenue $149,566

Investment Income $338,835

Other Revenue $-16,586

TOTAL REVENUE $831,576

Expense Breakdown

Grants Paid $346,181

Salaries & Benefits $292,058

Fundraising Expenses $88,754

Program Expenses $589,363

Other Expenses $209,977

TOTAL EXPENSES $848,216

Year-over-Year Comparison

	2023	2022	Change
Revenue	$831,576	$489,624	+0.7%
Expenses	$848,216	$778,358	+0.1%
Net Income	$-16,640	$-288,734	-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

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

N/A

Volunteers

338

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

$619,421

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL FLESHER	SECRETARY, EX OFFICIO - NON-VOTING DIRECTOR	1.00	Officer	$0	$41,602	$366,498
KRISTOPHER ROUG	CFO	1.00	Officer	$0	$15,591	$139,569
ELIZABETH RINGLE	EXECUTIVE DIRECTOR	40.00	Officer	$107,927	$5,427	$113,354
JOSE ORTIZ MD	PRESIDENT	1.00	Officer Director	$0	$0	$0
NOEL DEEP MD	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
SARAH KROLICKI	VICE PRESIDENT - PUBLIC HEALTH	1.00	Officer Director	$0	$0	$0
MARK WESTOVER	TREASURER	1.00	Officer Director	$0	$0	$0
ALYSSA FLEISCHMAN MD	DIRECTOR (THRU 4/2023)	1.00	Director	$0	$0	$0
AYANNA VASQUEZ MD	DIRECTOR (AS OF 12/2023)	1.00	Director	$0	$0	$0
BUD CHUMBLEY MD	DIRECTOR	1.00	Director	$0	$0	$0
CLARENCE CHOU MD	DIRECTOR	1.00	Director	$0	$0	$0
DAVID K FALK MD	DIRECTOR	1.00	Director	$0	$0	$0
GREIGORY DIMAILIG MD	DIRECTOR (AS OF 4/2023)	1.00	Director	$0	$0	$0
HEATHER SCHMIDT DO	DIRECTOR (AS OF 7/2023)	1.00	Director	$0	$0	$0
JACLYN GELLINGS MD	DIRECTOR (THRU 7/2023)	1.00	Director	$0	$0	$0
JOEL CHARLES MD	DIRECTOR	1.00	Director	$0	$0	$0
KYLE CASS MD	DIRECTOR (THRU 4/2023)	1.00	Director	$0	$0	$0
LATISHA SMITH-CHASE MD	DIRECTOR	1.00	Director	$0	$0	$0
MATIDA BOJANG	DIRECTOR (AS OF 4/2023)	1.00	Director	$0	$0	$0
RICHARD A DART MD	DIRECTOR	1.00	Director	$0	$0	$0
TOM O'DAY JD	DIRECTOR	1.00	Director	$0	$0	$0
CYNTHIA HART MD	EX-OFFICIO MEMBER (AS OF 4/2023)	1.00	Director	$0	$0	$0
DON LEE MD	EX-OFFICIO MEMBER	1.00	Director	$0	$0	$0
WENDY MOLASKA MD	EX-OFFICIO MEMBER (THRU 4/2023)	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	No data	No data	No data	No data
2023	$831,576	$848,216	$13,866,683	$-16,640
2022	$489,624	$778,358	$12,590,792	$-288,734
2021	$1,196,117	$682,715	$14,872,089	$513,402
2020	$649,734	$759,099	$13,605,729	$-109,365
2019	$786,588	$670,435	$14,444,579	$116,153
2018	$1,272,769	$621,805	$12,567,417	$650,964

WISCONSIN MEDICAL SOCIETY FOUNDATION INC