Greater Louisville Medical Society Foundation Inc

Nonprofit profile at a glance

EIN
610598020
IRS 990 coverage
2015–2025
Forms available
Form 990 2025
Location
Louisville, KY, USA
Phone
5025892001
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$2,676,963
Expenses
$588,224
Assets
$8,532,970
Liabilities
$81,768

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

Leadership & pay

16 people listed

Executive titles in this filing

  • ANEETA BHATIA MD (GLMS PRESIDENT ELECT)
  • THOMAS HIGGINS MD (GLMS PRESIDENT)

Highest reported compensation

  • BERT GUINN (FOUNDATION DIRECTOR): $250,151 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 support the medical society and initiatives that improve the health and well-being of physicians and our community.

What it reported doing in 2025

The greater louisville medical society foundation fosters a healthier community by supporting charitable partners, advancing medical education, and promoting the well-being of physicians and the community.

Operating model

Revenue model
Investment-supported. 81% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.9%; rating input score 100
  • Program expense ratio: 58.8%; rating input score 59
  • Fundraising efficiency: $0.89 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 21st percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 77%; rating input score 77; 26th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 78%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 14.51; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 18.3% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 19.8% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 99.9% of revenue deployed · 58.8% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $346K in reported program spending
  • Leadership: top reported pay $250K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 9 filing years from 2015 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 4 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: Program expense ratio scored 59/100.
  • High — Financial Efficiency: Fundraising efficiency scored 2/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.