NORTH CAROLINA MEDICAL SOCIETY EMP… - Form 990 Financial Data

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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

1998

Legal Domicile

Principal Officer

DR KENNETH A HOLT MD

Phone

9198787502

Tax Period

2024-01-01 to 2024-12-31

NORTH CAROLINA MEDICAL SOCIETY EMPLOYEE BENEFIT TRUST, founded in 1998, is a mid-sized nonprofit in the Health Care sector that reported $47.8M in total revenue in fiscal year 2024.

Mission

THE NORTH CAROLINA MEDICAL SOCIETY EMPLOYEE BENEFIT PLAN PROVIDES NORTH CAROLINA PHYSICIANS WITH A VALUE-ADDED PLAN THAT IS STRAIGHTFORWARD AND SPECIFICALLY CUSTOMIZED TO MEET THEIR PRACTICE AND EMPLOYEES' NEEDS. AS THE ONLY STATEWIDE HEALTH BENEFITS PLAN DESIGNED EXCLUSIVELY FOR NORTH CAROLINA PHYSICIANS, THE NCMS PLAN OFFERS CHOICES THAT ARE UNIQUE TO THE MARKET.

Program Service Accomplishments

Program 1

THE TRUST PROVIDES HEALTH, DENTAL, AND LIFE INSURANCE BENEFITS TO ELIGIBLE MEMBERS OF THE NORTH CAROLINA MEDICAL SOCIETY AND THEIR EMPLOYEES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $46,380,305

Investment Income $1,457,476

Other Revenue $0

TOTAL REVENUE $47,837,781

Expense Breakdown

Grants Paid $107,600

Salaries & Benefits $4,500

Fundraising Expenses $0

Other Expenses $6,852,463

TOTAL EXPENSES $52,613,797

Year-over-Year Comparison

	2024	2023	Change
Revenue	$47,837,781	$45,166,434	+0.1%
Expenses	$52,613,797	$49,222,917	+0.1%
Net Income	$-4,776,016	$-4,056,483	+0.2%

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

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

$3,000

Total Directors

$4,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH A HOLT MD	CHAIR	2.00	Officer Director	$3,000	$0	$3,000
SANDY COHEN MD	TRUSTEE	1.00	Director	$500	$0	$500
WILLIAM INGRAM III MD	TRUSTEE	1.00	Director	$500	$0	$500
MARY ANN CONTAGIANNIS MD	TRUSTEE	1.00	Director	$500	$0	$500

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	$47,837,781	$52,613,797	$24,111,332	$-4,776,016
2023	$45,166,434	$49,222,917	$29,038,709	$-4,056,483
2022	$49,002,886	$51,354,376	$33,134,903	$-2,351,490
2021	$53,921,759	$52,283,402	$37,037,700	$1,638,357
2020	$70,754,164	$67,814,799	$34,522,602	$2,939,365
2019	$111,230,026	$124,783,546	$38,419,595	$-13,553,520
2018	$107,228,395	$110,463,599	$51,859,136	$-3,235,204

NORTH CAROLINA MEDICAL SOCIETY EMPLOYEE BENEFIT TRUST