Council of Medical Specialty Societies

Analysis

Council of Medical Specialty Societies is a registered charity in United States, based in Schaumburg, IL. It received its IRS tax-exemption ruling in September 1976, 50 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Council of Medical Specialty Societies reported income of $12.5m and spending of $12.5m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $12.5m (+643%), an average of +65% a year. The sharpest change came in the year to December 2022, when income rose by 199%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Council of Medical Specialty Societies sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include CPM Educational Program ($12.5m), Saint Francis School ($12.5m) and Hyde Leadership Charter School-Brooklyn ($12.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $594k (4.8% of expenses). Other salaries and wages came to $519k. At year end it held assets of $5.6m against liabilities of $3.2m, net assets of $2.4m. It reported 8 employees.