Medical Society of South Carolina

Nonprofit profile at a glance

EIN
570288358
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Charleston, SC, USA
Phone
8437891798
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$17,721,491
Expenses
$7,416,734
Assets
$701,647,063
Liabilities
$76,616,382

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

Leadership & pay

15 people listed

Executive titles in this filing

  • JASON CURRY MD (VICE PRESIDENT)
  • RON TURNER MD (PRESIDENT)
  • CHARLES F RIVERS (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • CHARLES F RIVERS (CHIEF EXECUTIVE OFFICER): $542,586 total reported compensation
  • MELISSA MCGUIRE (SENIOR EXECUTIVE ASSISTANT): $92,203 total reported compensation

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

Overview

Mission

See Schedule O.

What it reported doing in 2024

- income is designated for the continuing support of the roper st. Frances healthcare mission in the community. - the medical society of sc participates in grant making programs in the community which provide funding to be used towards education in the medical field. - in addition, the medical society provides funding for upgrades and improvements to the hospital system. - lastly, the medical society procures and constructs properties which are utilized by the hospital system to further its mission to heal all people with compassion, faith, and excellence

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 93% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 95
  • Accountability: 71
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.1%; rating input score 81
  • Program expense ratio: 89.7%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 8th 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: 58.1%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 94.6; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 12.1% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 81.1% of revenue deployed · 89.7% of spending went to programs
  • Governance: 7 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.7M in reported program spending
  • Leadership: top reported pay $543K · 15 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 25 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 — Accountability: Independent voting board scored 50/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.