Massachusetts Medical Society

Nonprofit profile at a glance

EIN
042050773
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Waltham, MA, USA
Phone
7818934610
Rating confidence
Limited

Official website

Reported finances

Revenue
$148,660,138
Expenses
$132,886,407
Assets
$309,838,514
Liabilities
$86,866,061

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

Leadership & pay

38 people listed

Executive titles in this filing

  • HUGH M TAYLOR (PRESIDENT)
  • OLIVIA LIAO (PRESIDENT-ELECT)
  • BARBARA SPIVAK (TRUSTEE, FORMER PRESIDENT)
  • LOIS DEHLS CORNELL (EXECUTIVE VICE PRESIDENT)
  • PAUL SHANNON (VICE PRESIDENT, FINANCE)

Highest reported compensation

  • LOIS DEHLS CORNELL (EXECUTIVE VICE PRESIDENT): $753,972 total reported compensation
  • ERIC JOSEPH RUBIN MD (EDITOR-IN-CHIEF): $720,688 total reported compensation
  • THERESA E SCIARAPPA (SENIOR VP, COO): $610,498 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 advance medical knowledge, to develop and maintain the highest professional and ethical standards of medical practice and health care, and to promote medical institutions formed on liberal principles for the health, benefit, and welfare of the citizens of Massachusetts.

What it reported doing in 2024

Publishing medical information: as a state medical society, the mms is in the unique position of managing a world-wide brand, nejm group. Nejm group publishes the new england journal of medicine (nejm), nejm journal watch, nejm catalyst, nejm evidence, and nejm ai. As the flagship of nejm group, nejm is recognized as the world's leading general medical journal. Nejm delivers high-quality, peer-reviewed research and interactive clinical content to physicians, educators, researchers, and the global medical community. Nejm's mission is to publish the best research and information at the intersection of biomedical science and clinical practice and to present this information in understandable, clinically useful formats that inform health care delivery and improve patient outcomes. Nejm keeps health care professionals at the leading edge of medical knowledge, helps them to gain broad understanding in their areas of interest, and provides a variety of engaging and innovative ways to learn. Nejm has more than one million readers from nearly every country.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 75
  • Accountability: 89
  • Sustainability: 64
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 6th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 50%; rating input score 50; 10th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 81.5%; rating input score 81; 29th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 10.6%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 2.33; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.5% per year; rating input score 100; 11th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 13th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 22 of 27 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $754K · 38 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.9M reported
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 21 filed money-flow records
  • Related organizations: 11 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: Foreign activity oversight: 7 of 8 not reported.
  • Review — Transparency & Controls: Grant itemization coverage scored 50/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.