Overview
What is Wisconsin Medical Society Foundation Inc?
Wisconsin Medical Society Foundation Inc is a nonprofit organization situated in Madison, Wisconsin. Their primary mission is to enhance the health of the state's population by fostering medical and health education. They accomplish this by offering student loans and scholarships. In 2022, they awarded $460,000 in interest-free student loans to 46 students attending the Medical College of Wisconsin or the University of Wisconsin School of Medicine and Public Health. The Foundation also has a scholarship committee that reviews applications and determines the amount and recipient of each award. In addition, they provide Future Superhero of Medicine scholarships for underrepresented minorities, granting access to test prep resources for the MATC and STEP 1 and 2 exams. In 2022, they awarded 76 scholarships in total, totaling $201,871.
Official website here: www.foundation.wismed
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating.
The Wisconsin Medical Society Foundation Inc has received a commendable rating of 88% from Charity Navigator, indicating a solid level of accountability and transparency. This rating reflects strong performance in several key areas, particularly in Leadership & Adaptability and Culture & Community, where it scored remarkably well. The organization boasts a fully independent board and has successfully implemented various policies that ensure ethical governance and operational integrity.
Strengths of the foundation include a robust leadership framework and investment in leadership development, both of which earned it full credit. Additionally, the foundation has demonstrated a commitment to its community with an impressive culture score of 97%. It also maintains a low liabilities-to-assets ratio, showcasing its financial health and stability.
However, while the overall program expense ratio stands at 60.64%, it may indicate areas for improvement in how funds are allocated toward programs versus administrative costs. Despite this, the organization shows promise in its mission and operational efficacy, making it a respectable choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Wisconsin Medical Society Foundation Inc legitimate?
Wisconsin Medical Society Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wisconsin Medical Society Foundation Inc 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:
Executive Compensation: $113,354
Professional Fundraising Fees: $0
Other Salaries and Wages: $134,987
For more financial information, click here
Official website here: www.foundation.wismed
What is the mission statement of Wisconsin Medical Society Foundation Inc?
The Wisconsin Medical Society Foundation Inc's mission is centered around enhancing the health of the general population. They accomplish this by supporting medical and health education. This support extends to offering interest-free student loans and scholarships to students attending specific medical schools, with a focus on providing assistance to underrepresented minorities. In 2022, they awarded a total of $661,871 in scholarships and loans to 55 students. The scholarship committee reviews applications and determines the amount of each award, offering generous deferral and repayment terms.
Official website here: www.foundation.wismed
What is the revenue of Wisconsin Medical Society Foundation Inc?
Wisconsin Medical Society Foundation Inc's revenue in 2023 was $831,576.
Official website here: www.foundation.wismed
Who are the executives of Wisconsin Medical Society Foundation Inc and what are their salaries?
There 338 volunteers at Wisconsin Medical Society Foundation Inc.
Here are 24 key members and their salaries:
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Official website here: www.foundation.wismed
Where can I find the form 990 for Wisconsin Medical Society Foundation Inc?
Wisconsin Medical Society Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.foundation.wismed
Learn more at the official website: www.foundation.wismed
Mission Statement of Wisconsin Medical Society Foundation Inc
Wisconsin Medical Society Foundation Inc, with its mission, strives to enhance the health of the Wisconsin population by fostering medical education and health initiatives. The organization's primary focus is on providing support for medical education, which includes awarding interest-free student loans to students at prestigious institutions such as the Medical College of Wisconsin and the University of Wisconsin School of Medicine and Public Health. In 2022, they granted loans totaling $460,000 to 46 deserving students, offering them generous deferral and repayment terms.
Beyond financial aid, the Wisconsin Medical Society Foundation Inc also offers scholarship opportunities. Applications for these scholarships are reviewed by a dedicated committee, which determines the recipients and the amount of each award. In 2022, they presented a total of 76 scholarships, amounting to $201,871. Additionally, they offer Future Superhero of Medicine scholarships specifically for underrepresented minorities, providing them with resources to prepare for crucial medical exams such as the MATC and STEP 1 and 2 exams. By providing these educational opportunities, the Wisconsin Medical Society Foundation Inc is making significant strides in nurturing the next generation of medical professionals in Wisconsin.
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Impact
July, 2024
Wisconsin Medical Society Foundation Inc impacts the health of the people of Wisconsin by supporting medical education and health initiatives. In 2022, they awarded a total of $460,000 in interest-free student loans to 46 students attending the Medical College of Wisconsin or the University of Wisconsin School of Medicine and Public Health. Additionally, they awarded 76 scholarships totaling $201,871, including scholarships for underrepresented minorities to access test prep resources for exams. This support helps future healthcare professionals achieve their educational goals and contribute to the healthcare system in Wisconsin.
This information is meant to be a general summary of Wisconsin Medical Society Foundation Inc. 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 2023.
- Investment Income: $267,464
- Program Service Revenue: $149,566
- Gross Receipts: $1,959,266
Assets and Liabilities:
- Total Assets: $12,590,792
- Total Liabilities: $99,723
- Net Assets: $12,491,069
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT LOAN
Revenue
$149,566
Organization Details
Founding Year
1955
Principal Officer
Elizabeth Ringle
Website
www.foundation.wismedNTEE Category
Code: B00 - Education
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