Massachusetts Medical Society

“District society members elect one of their members to serve on the board of trustees as a trustee with full voting rights.”

“District society members elect one of their members to serve on the board of trustees as a trustee with full voting rights.”

“The house of delegates members may override board of trustees action on prioritization of funding a house directive with a two-thirds vote of the delegates.”

“Form 990 and all related schedules are reviewed by the society's tax advisors at cbiz advisors, llc. In addition, a slide presentation is made to the society's committee on finance which highlights the major provisions of the form and other general information in regard to the form 990 filing and the tax responsibilities of non-profit organizations. A complete copy of form 990 is provided to the members of the board of trustees prior to filing.”

“The society's conflict of interest policy applies to its employees, including those meeting the definition of key employees. It also applies to those serving in the capacity of an officer, director, or trustee. New employees are required to read and sign a conflict of interest and disclosure statement upon being hired. Employees are also required to certify yearly that they continue to be in compliance with this policy. Board members are also required to read and sign a confirmation of compliance with the massachusetts medical society conflict of interest policy on an annual basis at the first meeting in june. Subsequent review and notice is made at the second meeting for those that have not yet complied with the requirement. Further review and notice is issued at the interim house of delegates meeting in the fall for those that have not yet submitted their confirmation of compliance form. The society's executive vice president must report in her annual report on overall board of trustee conflict of interest compliance rates. All new board members are invited to an orientation and the policy is covered in that orientation. Determination and review for officers, directors, and trustees, relative to conflict of interest are at the board of trustees level. Determination and review of employees are addressed through the society's executive vice president. Executive vice president conflicts are addressed through the society's president. Actions and restrictions relative to non-compliance with the policy are as follows: for trustees, the board shall determine by a majority vote of those present whether the trustee may continue to participate in and vote on the matter. Such a vote shall be dispositive. For officers, the president, president- elect, and vice president shall determine by consensus, not counting the disclosing officer, whether the officer may continue to participate in the matter. If the officers cannot reach consensus the matter shall be decided by a majority vote of the president, president- elect, vice president and secretary/treasurer not counting the disclosing officer. The officers vote shall be dispositive in the matter.”

“Compensation for senior leadership is reviewed by the committee on administration and management and the compensation sub-committee; compensation for the evp is also approved by the board of trustees. As part of the review and approval process, the society works with an independent third party compensation consulting firm that provides data for comparable positions. The deliberations and decisions were documented contemporaneously. This process applies annually to all senior executives, including the executive vice president, the editor-in-chief, and all employed vice presidents. For the officers/trustees who receive honoraria, which includes the president, president-elect, vice president, secretary-treasurer, speaker, and vice speaker, the board of trustees (bot) directs the committee on finance (cof) to conduct a review of their honoraria periodically and on a regular three-year schedule in conjunction with the budgeting process. Per the cof directive, and functioning as an independent committee, the cof contracts with an outside independent third party compensation consulting firm to provide a review of compliance issues associated with officer compensation and relevant market information to assist in determining alignment with market practice to establish compensation reasonableness. A review was conducted in april 2024.”

“The massachusetts medical society does not make its conflict of interest policy available to the public. The society does not make its financial statements or governing documents available to the public except as disclosed within its form 990.”

“The fluctuations in investment income reported on form 990, part i, line 10 (investment income) and part viii, line 7 (gain/loss from sale of securities) are primarily influenced by strategic decisions made by fund managers to align the portfolio with the organization's investment goals. It's important to note that the timing of sales determines whether gains/losses are reported as investment gains/losses or unrealized gains/losses. Unrealized gains/losses are detailed separately on form 990, part xi, line 5 and are not included in investment income on part i, line 10.”

“Over 800 members participated in mms committees and the house of delegates (hod). Mms committees form the backbone of the society, where the important work of the society is accomplished. The hod is the policymaking body of the mms. Members of the mms hod serve as an important communications, policy, and membership link between the mms and grassroots physicians. Each delegate is a key source of information on policies, activities, and programs of the mms.”

“Pension liability adjustment 3,676,079.”