Overview
What is Medical Legacy Fund?
The Medical Legacy Fund is a nonprofit organization, established for the sole benefit of the Foundation of the Pennsylvania Medical Society. Its primary purpose is to serve as a platform for accepting deferred charitable contributions. The Medical Legacy Fund is dedicated to supporting the mission of the Foundation of the Pennsylvania Medical Society.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating. The Medical Legacy Fund has received a moderate rating, indicating that while the organization demonstrates some commendable practices, there are areas that could be improved. A score of 73% reflects a reasonable level of accountability and financial health, but it falls short of the higher standards set by top-rated charities.
The organization boasts a fully independent board with 86% of its members meeting this criterion, and it has shown no material diversion of assets, which speaks to its governance integrity. Additionally, the Medical Legacy Fund effectively documents board meeting minutes and maintains a favorable liabilities to assets ratio at 28.45%. A strong program expense ratio of 89.65% suggests that a significant portion of its funds is directed toward its programs rather than administrative costs.
Despite these strengths, the overall Two-Star rating implies that there are some aspects of the organization that may warrant scrutiny or enhancement. While the financial metrics are solid, the charity could work towards improving its scoring in areas that contribute to a higher overall evaluation. Engaging in further transparency and effectiveness measures could enhance its reputation and impact within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Medical Legacy Fund legitimate?
Medical Legacy Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Medical Legacy Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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For more financial information, click here
What is the mission statement of Medical Legacy Fund?
The Medical Legacy Fund is established for the exclusive benefit of the Foundation of the Pennsylvania Medical Society. Its primary purpose is to serve as a medium for accepting deferred contributions. The fund's mission, in essence, is to support the Foundation of the Pennsylvania Medical Society through the acceptance of contributions that are deferred in nature.
Who is the CEO of Medical Legacy Fund?
Heather A Wilson is the Director of Medical Legacy Fund.
What is the revenue of Medical Legacy Fund?
Medical Legacy Fund's revenue in 2022 was $8,843.
Who are the executives of Medical Legacy Fund and what are their salaries?
There 14 volunteers at Medical Legacy Fund.
Here are 16 key members and their salaries:
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Where can I find the form 990 for Medical Legacy Fund?
Medical Legacy Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Medical Legacy Fund
The Medical Legacy Fund, a nonprofit organization, is established for the exclusive benefit of the Foundation of the Pennsylvania Medical Society. Its primary purpose is to serve as a platform for accepting contributions that have a deferred nature. This means the Fund is designed to receive funds that are payable at a later date, thereby supporting the Foundation's initiatives in the medical field. The Medical Legacy Fund plays a crucial role in facilitating such deferred contributions, thereby contributing to the Foundation's mission and objectives.
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Impact
October, 2024
The Medical Legacy Fund plays a crucial role in supporting the Foundation of the Pennsylvania Medical Society by facilitating the acceptance of deferred contributions. This dedicated approach allows for the accumulation of resources that can be strategically allocated to advance health initiatives in Pennsylvania. By creating a sustainable financial mechanism, the Fund enables long-term planning and investment in healthcare programs, ensuring that the Foundation can effectively respond to the evolving needs of the medical community and the population it serves. Ultimately, the impact of the Medical Legacy Fund is reflected in enhanced health outcomes and strengthened medical practices throughout the region.
This information is meant to be a general summary of Medical Legacy Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $8,843
- Gross Receipts: $8,843
Assets and Liabilities:
- Total Assets: $330,842
- Total Liabilities: $94,146
- Net Assets: $236,696
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Organization Details
Founding Year
1991
Phone
(717) 558-7810Principal Officer
Heather A Wilson
Main Address
400 WINDING CREEK BLVD, MECHANICSBURG, PA, 17050
NTEE Category
Code: E11 - Health
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