Massachusetts Medical Benevolent Society

Nonprofit profile at a glance

EIN
237089741
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Waltham, MA, USA
Phone
7814347809
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$524,705
Expenses
$180,514
Assets
$8,839,705
Liabilities
$0

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

Leadership & pay

13 people listed

Executive titles in this filing

  • MARK A ROCKOFF MD (PAST PRESIDENT)
  • DONNA M NORRIS MD (PRESIDENT)

People named in this filing

  • RONALD W DUNLAP MD (TRUSTEE)
  • MARILYN PRICE MD (TRUSTEE)
  • DEAN NICASTRO ESQ (TRUSTEE)

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

See schedule omassachusetts medical benevolent society (the "society") is a not-for-profit organization established in march 1857 to provide financial assistance to members of the medical profession, their widows and their children. The mission of the mmbs is to support the recovery and rehabilitation of the ma physicians and their families from personal, professional or financial crisis, by providing time-targeted financial assistance. The society's collegial outreach helps members of the medical family hold to their potential as valued members of the profession and the community.

What it reported doing in 2024

The society provides direct assistance in the form of financial and other assistance to individuals on "need base" assessment that is determined by professional social workers and approved by the board of trustees. Criteria of need assessment is based on an evaluation of each individual case and a review of the circumstance that led to the request for assistance.

Operating model

Revenue model
Investment-supported. 64% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 95
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.6%; rating input score 68
  • Program expense ratio: 79.3%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 65.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 48.97; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: 12.6% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 67.6% of revenue deployed · 79.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $143K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.