Educational and Scientific Foundation of the Illinois State Medical Society

Nonprofit profile at a glance

EIN
366078979
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Chicago, IL, USA
Phone
3127821654
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$102,094
Expenses
$79,956
Assets
$2,899,691
Liabilities
$208,050

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Highest reported compensation

  • CHERYL KOOS (COO): $235,747 total reported compensation
  • OLIVER J ROBERT MD (TRUSTEE): $83,373 total reported compensation
  • DAVID A WICHMANN (CFO): $78,629 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote educational, scientific, charitable, and benevolent interests in Illinois. The board periodically establishes projects for administrative purposes in accomplishing the foundation objectives.

What it reported doing in 2025

To implement and manage loans to medical students and the implementation of educational programs for physicians and patients.

Operating model

Revenue model
Investment-supported. 80% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 75
  • Accountability: 43
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.5%; rating input score 55
  • Program expense ratio: 59.4%; rating input score 59
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 20%; rating input score 20; 17th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.7%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 36.27; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 19.7% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 14.7% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 54.5% of revenue deployed · 59.4% of spending went to programs
  • Governance: 1 of 5 board members independent · 6 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $47K in reported program spending
  • Leadership: top reported pay $236K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Accountability: Independent voting board scored 20/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.