Iowa Medical Society Foundation

Nonprofit profile at a glance

EIN
426078626
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Des Moines, IA, USA
Phone
5152231401
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$181,694
Expenses
$234,110
Assets
$1,964,446
Liabilities
$3,280

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

Leadership & pay

13 people listed

Highest reported compensation

  • CHURCHILL STEVEN W (SECRETARY/TREASURER): $309,672 total reported compensation
  • OPIE SARA (COMMUNICATIONS AND MARKETING DIRECTOR): $127,854 total reported compensation
  • TAYLOR CHRISTINA (VICE CHAIR): $8,800 total reported compensation

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

Overview

Mission

To inspire, faciliate and expand the philanthropic endeavors of the Iowa medial society.

What it reported doing in 2024

Funding of medical student scholarships and study grants. Contributions are made to des moines university which administers a scholarship program for its students, and study grants awarded to individual medical students.

Operating model

Revenue model
Donor-supported. 73% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.6%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd 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: 85.6%; rating input score 86; 50th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 88
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -28.8%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 8.39; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 19%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $191K in reported program spending
  • Leadership: top reported pay $310K · 13 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 10/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.