Duval County Medical Society

Nonprofit profile at a glance

EIN
590613659
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Jacksonville, FL, USA
Phone
8132157140
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$443,507
Expenses
$415,075
Assets
$587,110
Liabilities
$147,175

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • FERDINAND FORMOSO DO (PRESIDENT)
  • ALI KASRAEIAN MD (PRESIDENT EL)

People named in this filing

  • FERDINAND FORMOSO DO (PRESIDENT)
  • ALI KASRAEIAN MD (PRESIDENT EL)
  • TIMOTHY GROOVER MD (VICE PRESIDE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Helping physicians care for the health of our community.

What it reported doing in 2024

The duval county medical society is indispensable to the duval county physician community. The core values of the dcms represent the four critical conditions for success of the organization: education: bringing necessary information to allow members to meet continuing education needs, stay on top of current trends, and improve the efficiency of their practices. Advocacy: working with local, state, and national elected officials to promote legislation which preserves the rights of members to practice medicine, while maintaining high standards of care. Healthcare quality: working with members, hospitals, government agencies and other groups to provide the highest possible healthcare quality for residents of north Florida. Operational excellence: professional staff continually striving to improve the benefits of membership and the financial ability of the organization to support members and fulfill the mission statement.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 50
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.2%; rating input score 75
  • Program expense ratio: 83.4%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.4%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 1.41; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -5.2% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: -0.4% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: 6.3% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 75.2% of revenue deployed · 83.4% of spending went to programs
  • Governance: 20 of 20 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $346K in reported program spending
  • Leadership: top reported pay $0 · 21 people listed
  • Highest-paid contractors: 1 contractor listed · $340K reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.