Overview
What is Medical Alumni Association Of The University Of Maryland Inc?
Medical Alumni Association of the University of Maryland Inc is a nonprofit organization situated in Baltimore, Maryland. Their primary mission is to support the educational mission of the University of Maryland Medical School by providing an alumni association. They raise funds, with a notable contribution of $1,688,513 in gifts benefiting the medical school, some of which directly support programs and services for university affiliates. Additionally, they administer five student loan funds, including the MAA Revolving Student Loan Fund, Rowland Student Loan Fund, Rogers Loan Fund, White Emergency Loan Fund, and Hoffman Emergency Loan Fund, worth approximately $800,000. The association's activities aim to enhance efforts in carrying on the medical school's educational mission and preserve a historic teaching facility for future use by alumni and students. They currently have a workforce of three individuals.
Official website here: www.medicalalumni.org
What are the reviews and ratings of this charity?
The Medical Alumni Association of the University of Maryland Inc has received a Three-Star out of Four Star rating from Charity Navigator, with an overall score of 86%. This score reflects a solid performance in accountability and finance, indicating that the organization is well-managed in various aspects, including having a fully independent board and utilizing effective financial oversight mechanisms.
Strengths of the organization include its high percentage of independent board members and effective audit practices. Additionally, it has demonstrated a strong commitment to financial responsibility, as evidenced by a low liabilities to assets ratio and a significant portion of its expenses directed towards programs. However, the organization does face some limitations, particularly in governance policies, as it lacks a whistleblower and a document retention policy, which are critical for maintaining transparency and accountability.
Overall, while the Medical Alumni Association of the University of Maryland Inc shows a robust financial standing and dedicated governance practices, the absence of certain policies could be seen as areas for improvement. The organization appears to be on a positive trajectory, but addressing these gaps could enhance its credibility and operational effectiveness further.
This AI summary has been generated from information found on Charity Navigator.
Is Medical Alumni Association Of The University Of Maryland Inc legitimate?
Medical Alumni Association Of The University Of Maryland Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Medical Alumni Association Of The University Of Maryland 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: $343,025
Professional Fundraising Fees: $0
Other Salaries and Wages: $129,196
For more financial information, click here
Official website here: www.medicalalumni.org
What is the mission statement of Medical Alumni Association Of The University Of Maryland Inc?
The Medical Alumni Association of the University of Maryland Inc. serves as an alumni association for graduates of the University of Maryland Medical School, with a mission to strengthen efforts in upholding the school's educational mission. The association aims to preserve a historic teaching facility for future use by alumni and students. As a means of support, the Medical Alumni Association (MAA) raised funds, with a significant portion directed towards benefiting the medical school and its community, including 10,000 alumni, faculty, students, and friends. Furthermore, the MAA managed five student loan funds, including the MAA Revolving Student Loan Fund, Rowland Student Loan Fund, Rogers Loan Fund, White Emergency Loan Fund, and Hoffman Emergency Loan Fund, which were turned over to the university in FY22. These funds collectively hold an estimated value of $800,000.
Official website here: www.medicalalumni.org
What is the revenue of Medical Alumni Association Of The University Of Maryland Inc?
Medical Alumni Association Of The University Of Maryland Inc's revenue in 2024 was $2,047,744.
Official website here: www.medicalalumni.org
Who are the executives of Medical Alumni Association Of The University Of Maryland Inc and what are their salaries?
The average compensation at Medical Alumni Association Of The University Of Maryland Inc during 2024 was $157,407. There are 3 employees at Medical Alumni Association Of The University Of Maryland Inc.
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- Compensation: $285,788
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- Other: $76,746
Official website here: www.medicalalumni.org
Where can I find the form 990 for Medical Alumni Association Of The University Of Maryland Inc?
Medical Alumni Association Of The University Of Maryland Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.medicalalumni.org
Learn more at the official website: www.medicalalumni.org
Mission Statement of Medical Alumni Association Of The University Of Maryland Inc
The Medical Alumni Association of the University of Maryland Inc is established with a mission to bolster the educational mission of the University of Maryland Medical School. This mission is achieved by serving as an alumni association for graduates of the medical school. The association's primary objective is to enhance efforts in carrying forward the educational mission of the respected institution. Furthermore, the Medical Alumni Association aims to preserve a historic teaching facility for the use of alumni and students, ensuring its continued utility for future generations.
In addition to its educational mission, the Medical Alumni Association of the University of Maryland Inc also engages in fundraising activities. The association raised a significant amount of $1,688,513 in gifts, contributing directly to the benefit of the medical school. A portion of these funds were allocated towards various programs and services, benefiting 10,000 alumni, faculty, students, and friends of the medical school. The association also administers several student loan funds, including the MAA Revolving Student Loan Fund, Rowland Student Loan Fund, Rogers Loan Fund, White Emergency Loan Fund, and Hoffman Emergency Loan Fund. These funds, valued at approximately $800,000, are instrumental in supporting medical students in need.
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Impact
July, 2024
The impact of the Medical Alumni Association of the University of Maryland Inc is significant in enhancing the educational mission of the University of Maryland Medical School. Through fundraising efforts, the association raised over $1.6 million to benefit the medical school. This funding directly supported programs and services for alumni, faculty, students, and friends of the medical school.
Additionally, the association administered student loan funds valued at approximately $800,000, which provided financial assistance to students in need. By providing this support, the association is helping to ensure that students can pursue their education without being burdened by excessive financial constraints.
Overall, the Medical Alumni Association plays a crucial role in supporting the educational and financial needs of the University of Maryland Medical School community, contributing to the ongoing success and development of the institution.
This information is meant to be a general summary of Medical Alumni Association Of The University Of Maryland 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 2024.
- Investment Income: $164,394
- Program Service Revenue: $45,165
- Gross Receipts: $2,047,744
Assets and Liabilities:
- Total Assets: $4,491,533
- Total Liabilities: $37,642
- Net Assets: $4,453,891
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REUNIONS & ACTIVITIES
Revenue
$45,165
Organization Details
Founding Year
1875
Principal Officer
Harry A Oken Md
Website
www.medicalalumni.orgNTEE Category
Code: B84Z - Education
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