IOWA MEDICAL SOCIETY FOUNDATION

EIN: 426078626 501(c)(3)

DES MOINES, IA

Total Revenue
$55,010
Total Expenses
$173,924
Total Assets
$1,881,133
Net Assets
$1,881,133
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1952
Legal Domicile
IA
Principal Officer
STEVEN W CHURCHILL
Phone
5152231401
Tax Period
2023-01-01 to 2023-12-31

IOWA MEDICAL SOCIETY FOUNDATION, founded in 1952, is a micro nonprofit that reported $55K in total revenue in fiscal year 2023. Revenue fell 80% from the prior year — a significant decline worth monitoring. Expenses of $174K exceeded revenue, resulting in a 216% operating deficit.

Mission

TO INSPIRE, FACILIATE AND EXPAND THE PHILANTHROPIC ENDEAVORS OF THE IOWA MEDIAL SOCIETY.

Program Service Accomplishments

Program 1
Expenses: $121,616

FINANCIAL SUPPORT FOR PROGRAMS AND ACTIVITIES WHICH ENHANCE THE IMAGE OF PHYSICANS AND PROMOTE THE PUBLIC HEALTH OF IOWANS.

Program 2
Expenses: $8,000

FUNDING OF MEDICAL STUDENT SCHOLARSHIPS AND STUDY GRANTS. CONTRIBUTIONS ARE MADE TO DES MOINES UNIVERSITY WHICH ADMINISTERS A SCHOLARSHIP PROGRAM FOR ITS STUDENTS, AND STUDY GRANTS AWARDED TO...

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FUNDING OF MEDICAL STUDENT SCHOLARSHIPS AND STUDY GRANTS. CONTRIBUTIONS ARE MADE TO DES MOINES UNIVERSITY WHICH ADMINISTERS A SCHOLARSHIP PROGRAM FOR ITS STUDENTS, AND STUDY GRANTS AWARDED TO INDIVIDUAL MEDICAL STUDENTS.

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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 $33,972
Program Service Revenue $0
Investment Income $21,038
Other Revenue $0
TOTAL REVENUE $55,010

Expense Breakdown

Grants Paid $129,616
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $129,616
Other Expenses $44,308
TOTAL EXPENSES $173,924

Year-over-Year Comparison

2023 2022 Change
Revenue $55,010 $281,505 -0.8%
Expenses $173,924 $167,879 +0.0%
Net Income $-118,914 $113,626 -2.0%
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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Governance

Voting Members
12
Independent Members
12
Employees
N/A
Volunteers
12

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
$280,946
Total Directors
13
$280,946
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TRUHLAR SCOTT CHAIR 3.50
Officer Director
$0 $0 $0
ZUZGA-REED JESSICA VICE CHAIR 3.50
Officer Director
$0 $0 $0
CHURCHILL STEVEN W SECRETARY/TREASURER 3.50
Officer Director
$0 $22,540 $280,946
ELSON MARYGRACE DIRECTOR 1.00
Director
$0 $0 $0
GUTU STEPHEN DIRECTOR 1.00
Director
$0 $0 $0
HEININGER ERIC DIRECTOR 1.00
Director
$0 $0 $0
KITCHELL MARY DIRECTOR 1.00
Director
$0 $0 $0
KITCHELL MICHAEL DIRECTOR 1.00
Director
$0 $0 $0
MILLESS TIFFANI DIRECTOR 1.00
Director
$0 $0 $0
ROMANO MICHAEL DIRECTOR 1.00
Director
$0 $0 $0
SINIK MEGAN DIRECTOR 1.00
Director
$0 $0 $0
TAYLOR CHRISTI DIRECTOR 1.00
Director
$0 $0 $0
WONG HUMPHREY 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 No data No data No data No data
2023 $55,010 $173,924 $1,881,133 $-118,914
2022 $281,505 $167,879 $1,756,882 $113,626
2021 $285,480 $183,025 $2,184,496 $102,455
2020 $103,332 $172,153 $2,034,727 $-68,821
2019 $270,534 $188,636 $2,006,847 $81,898
2018 $177,150 $187,742 $1,856,547 $-10,592
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