KENTUCKY MEDICAL ASSOCIATION

EIN: 610246800

LOUISVILLE, KY

Total Revenue
$2,158,580
Total Expenses
$2,412,095
Total Assets
$6,167,998
Net Assets
$3,706,225
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1929
Legal Domicile
KY
Principal Officer
PATRICK T PADGETT
Phone
5024266200
Tax Period
2023-01-01 to 2023-12-31

KENTUCKY MEDICAL ASSOCIATION, founded in 1929, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2023. Revenue surged 72% from the prior year, signaling strong growth momentum. Expenses of $2.4M exceeded revenue, resulting in a 12% operating deficit.

Mission

THE KENTUCKY MEDICAL ASSOCIATION PROVIDES PHYSICIAN ADVOCACY THROUGH GOVERNMENTAL INTERACTION, LEGAL INTERVENTION, AND PUBLIC EDUCATION, AS WELL AS PROVIDING PHYSICIAN EDUCATION THROUGH PERIODIC WORKSHOPS/SEMINARS, AN ANNUAL CONVENTION WITH EDUCATIONAL SEMINARS, AND VARIOUS PUBLICATIONS.

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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 $18,435
Program Service Revenue $1,806,699
Investment Income $128,474
Other Revenue $204,972
TOTAL REVENUE $2,158,580

Expense Breakdown

Grants Paid $30,500
Salaries & Benefits $1,375,102
Fundraising Expenses $0
Other Expenses $1,006,493
TOTAL EXPENSES $2,412,095

Year-over-Year Comparison

2023 2022 Change
Revenue $2,158,580 $1,254,057 +0.7%
Expenses $2,412,095 $1,281,689 +0.9%
Net Income $-253,515 $-27,632 +8.2%
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

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Governance

Voting Members
38
Independent Members
38
Employees
12
Volunteers
200

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
31
$305,194
Total Directors
38
$0
Key Employees
1
$178,189
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL K KUDUK MD PRESIDENT 4.00
Officer Director
$0 $0 $0
EVELYN MONTGOMERY JONES MD PRESIDENT-ELECT 1.00
Officer Director
$0 $0 $0
JIAPENG HUANG MD VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
CHRISTOPHER JONES MD SECRETARY 2.00
Officer Director
$0 $0 $0
CHRISTINE KO MD TREASURER 2.00
Officer Director
$0 $0 $0
ISMAEL W STEVENS JR MD BOARD CHAIR, 13TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
STEPHEN K TOADVINE MD BOARD VICE CHAIR, 9TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
ANITA FLEENOR-FORD MD TRUSTEE AT LARGE, 1ST DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
JOHN A GODFREY MD TRUSTEE AT LARGE, 4TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
MONALISA M TAILOR MD IMMEDIATE PAST PRESIDENT, AMA ALTERNATE DELEGATE 2.00
Officer Director
$0 $0 $0
DANESH MAZLOOMDOOST MD SPEAKER, HOUSE OF DELEGATES 2.00
Officer Director
$0 $0 $0
HEIDI KOENIG MD VICE SPEAKER, HOUSE OF DELEGATES 2.00
Officer Director
$0 $0 $0
SHIRISHKUMAR N PATEL MD 2ND DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
JAMES M DONLEY MD 3RD DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
ERIC F LYDON MD 5TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
DAVID A CIOCHETTY MD 6TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
MAMATA MAJMUNDAR MD 7TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
JAMES SCHACK MD 8TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
TUYEN T TRAN MD 10TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
JOHN M JOHNSTONE MD 11TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
REBECCA P CHATHAM MD 12TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
DON STACY MD 14TH DISTRICT TRUSTEE 1.00
Officer Director
$0 $0 $0
PHILIP B HURLEY MD 2ND DISTRICT ALTERNATE TRUSTEE 1.00
Officer Director
$0 $0 $0
K JOHN YUN MD 4TH DISTRICT ALTERNATE TRUSTEE 1.00
Officer Director
$0 $0 $0
ERIC FISHER MD 6TH DISTRICT ALTERNATE TRUSTEE 1.00
Officer Director
$0 $0 $0
JAMES L BORDERS MD 10TH DISTRICT ALTERNATE TRUSTEE 1.00
Officer Director
$0 $0 $0
WILLIAM H MITCHELL MD 11TH DISTRICT ALTERNATE TRUSTEE 1.00
Officer Director
$0 $0 $0
DAVID L BRABON MD 12TH DISTRICT ALTERNATE TRUSTEE 1.00
Officer Director
$0 $0 $0
J ROGER POTTER MD 13TH DISTRICT ALTERNATE TRUSTEE 1.00
Officer Director
$0 $0 $0
SHRIYA DODWANI PRESIDENT, MEDICAL STUDENT SECTION 2.00
Officer Director
$0 $0 $0
DAVID J BENSEMA MD AMA DELEGATE 2.00
Director
$0 $0 $0
J GREGORY COOPER MD AMA DELEGATE 2.00
Director
$0 $0 $0
JOHN L ROBERTS MD AMA DELEGATE 2.00
Director
$0 $0 $0
DONALD J SWIKERT MD AMA DELEGATE 2.00
Director
$0 $0 $0
SHAWN C JONES MD AMA ALTERNATE DELEGATE 2.00
Director
$0 $0 $0
NEAL J MOSER MD AMA ALTERNATE DELEGATE 2.00
Director
$0 $0 $0
R BRENT WRIGHT MD AMA ALTERNATE DELEGATE 2.00
Director
$0 $0 $0
ALEX THEBERT MD RESIDENT FELLOW SECTION 1.00
Director
$0 $0 $0
PATRICK T PADGETT EXECUTIVE VICE PRESIDENT 55.00
Officer
$275,069 $30,125 $305,194
CORY MEADOWS DEPUTY EXECUTIVE VICE PRESIDENT 55.00
Key Emp
$161,921 $16,268 $178,189
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 $2,158,580 $2,412,095 $6,167,998 $-253,515
2022 $2,526,975 $1,992,760 $6,003,978 $534,215
2022 $1,254,057 $1,281,689 $5,897,102 $-27,632
2021 $2,527,003 $2,041,591 $5,977,584 $485,412
2020 $2,243,878 $3,688,666 $4,762,733 $-1,444,788
2019 $2,388,872 $2,137,389 $5,434,717 $251,483
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