Civic Intelligence

Wisconsin Medical Society Foundation Inc

EIN 39-6045649 • 501(c)3 • Madison, WI

Profile

To advance the health of the people of wisconsin by supporting medical education and health initiatives.

PO Box 1109Madison, WI 53701

foundation.wismed.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

15th percentile

0.01x

Higher debt load relative to assets than 15% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

45th percentile

0.18x

Higher debt load relative to revenue than 45% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

15th percentile

-14%

Higher net margin than 15% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

26th percentile

$117,952

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 16.7% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

65th percentile

9.1%

Faster asset growth than 65% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

-15%

Faster revenue growth than 15% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$15,123,629

Up $1,256,946 (+9.1%) from 2023

Liabilities

Up

$126,897

Up $19,995 (+19%) from 2023

Net Assets

Up

$14,996,732

Up $1,236,951 (+9.0%) from 2023

Revenue

Down

$705,251

Down $126,325 (-15%) from 2023

Expenses

Down

$803,484

Down $44,732 (-5.3%) from 2023

Net Income

Down

-$98,233

Down $81,593 (-490%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$20M$15M$10M$5.0M$0Assets 2010: $11,700,392Liabilities 2010: $2,761,950Net Assets 2010: $8,938,4422010Assets 2011: $11,370,544Liabilities 2011: $2,677,048Net Assets 2011: $8,693,4962011Assets 2012: $11,683,243Liabilities 2012: $2,595,494Net Assets 2012: $9,087,7492012Assets 2013: $12,745,000Liabilities 2013: $2,629,684Net Assets 2013: $10,115,3162013Assets 2014: $13,215,759Liabilities 2014: $2,726,628Net Assets 2014: $10,489,1312014Assets 2015: $12,987,222Liabilities 2015: $2,709,130Net Assets 2015: $10,278,0922015Assets 2016: $12,453,602Liabilities 2016: $1,649,703Net Assets 2016: $10,803,8992016Assets 2017: $13,648,653Liabilities 2017: $1,762,202Net Assets 2017: $11,886,4512017Assets 2018: $12,567,417Liabilities 2018: $1,344,615Net Assets 2018: $11,222,8022018Assets 2019: $14,444,579Liabilities 2019: $1,635,435Net Assets 2019: $12,809,1442019Assets 2020: $13,605,729Liabilities 2020: $39,814Net Assets 2020: $13,565,9152020Assets 2021: $14,872,089Liabilities 2021: $151,186Net Assets 2021: $14,720,9032021Assets 2022: $12,590,792Liabilities 2022: $99,723Net Assets 2022: $12,491,0692022Assets 2023: $13,866,683Liabilities 2023: $106,902Net Assets 2023: $13,759,7812023Assets 2024: $15,123,629Liabilities 2024: $126,897Net Assets 2024: $14,996,7322024

Highlighted filing

2024

Assets$15,123,629
Liabilities$126,897
Net Assets$14,996,732

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $490,0662010Expenses 2011: $752,2282011Revenue 2012: $744,068Expenses 2012: $534,201Net Income 2012: $209,8672012Revenue 2013: $886,820Expenses 2013: $522,171Net Income 2013: $364,6492013Revenue 2014: $855,049Expenses 2014: $602,131Net Income 2014: $252,9182014Revenue 2015: $1,392,672Expenses 2015: $712,501Net Income 2015: $680,1712015Revenue 2016: $795,841Expenses 2016: $768,790Net Income 2016: $27,0512016Revenue 2017: $959,102Expenses 2017: $612,183Net Income 2017: $346,9192017Revenue 2018: $1,272,769Expenses 2018: $621,805Net Income 2018: $650,9642018Revenue 2019: $786,588Expenses 2019: $670,435Net Income 2019: $116,1532019Revenue 2020: $649,734Expenses 2020: $759,099Net Income 2020: -$109,3652020Revenue 2021: $1,196,117Expenses 2021: $682,715Net Income 2021: $513,4022021Revenue 2022: $489,624Expenses 2022: $778,358Net Income 2022: -$288,7342022Revenue 2023: $831,576Expenses 2023: $848,216Net Income 2023: -$16,6402023Revenue 2024: $705,251Expenses 2024: $803,484Net Income 2024: -$98,2332024

Highlighted filing

2024

Revenue$705,251
Expenses$803,484
Net Income-$98,233

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.1$0.13$15.0$0.71$0.80$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.9$0.11$13.8$0.83$0.85$0.02
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.6$0.10$12.5$0.49$0.78$0.29
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.9$0.15$14.7$1.20$0.68$0.51
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.6$0.04$13.6$0.65$0.76$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.4$1.64$12.8$0.79$0.67$0.12
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.6$1.34$11.2$1.27$0.62$0.65
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.6$1.76$11.9$0.96$0.61$0.35
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.5$1.65$10.8$0.80$0.77$0.03
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.0$2.71$10.3$1.39$0.71$0.68
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.2$2.73$10.5$0.86$0.60$0.25
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.7$2.63$10.1$0.89$0.52$0.36
2012Summary only. Only limited summary data is available for this year.$11.7$2.60$9.09$0.74$0.53$0.21
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$2.68$8.69$0.75
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$2.76$8.94$0.49
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$2,630,635
Mission and Program Overview

Mission

To advance the health of the people of wisconsin by supporting medical and health education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,220,048$11,653,930▲ $1,433,882
Other Notes and Loans Receivable, Net$3,070,049$3,099,118▲ $29,069
Savings and Temporary Cash Investments$283,046$325,974▲ $42,928
Accounts Receivable$32,171$19,289▼ $12,882
Investments Program Related$10,000$10,000→ $0
Prepaid Expenses and Deferred Charges$2,500$9,751▲ $7,251
Total Assets$13,866,683$15,123,629▲ $1,256,946
Other Assets Total$248,869$5,567▼ $243,302
Liabilities
Other Liabilities$72,774$83,934▲ $11,160
Accounts Payable and Accrued Expenses$34,128$42,963▲ $8,835
Total Liabilities$106,902$126,897▲ $19,995
Net Assets / Fund Balance
Net Assets With Donor Restrictions$11,679,370$12,726,004▲ $1,046,634
Net Assets Without Donor Restrictions$2,080,411$2,270,728▲ $190,317
Total Net Assets Fund Balance$13,759,781$14,996,732▲ $1,236,951
Total Liabilities and Net Assets / Fund Balance$13,866,683$15,123,629▲ $1,256,946

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$837,074$2,100▲ $93,144$41,948$890,370
2023$775,769$2,000▲ $99,546$40,241$837,074
2022$932,295$2,000▼ $128,482$30,044$775,769
2021$868,976$2,000▲ $96,129$34,810$932,295
2020$833,066$2,000▲ $74,283$40,373$868,976
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth RingleExecutive DirectorFT$112,265$5,687$117,952

Board Members and Trustees

NameTitle
Jose Ortiz MdPresident
Noel Deep MdVice President - Physician
TOM O'DAY JDVice President - Public
Caroline Krolicki RnDirector
Clarence Chou MdDirector
David Galbis-reig MdDirector
David K Falk MdDirector
George Morris MdDirector
Heather Schmidt DoDirector
Latisha Smith-chase MdDirector
Joel Charles MdDirector (term 11/2024)
Bud Chumbley MdDirector (term 12/2024)
Jaclyn Gellings MdDirector - Resident Rep. (term 06/2024)
Ayanna Vasquez MdDirector - Resident Representative
Greigory Dimailig MdDirector - Student Rep. (term 04/2024)
Matida BojangDirector - Student Rep. (term 04/2024)
Andrew LabottDirector - Student Representative
Andrew NortonDirector - Student Representative
Cynthia Hart MdEx-officio Member
Michelle Graham MdEx-officio Member
Don Lee MdEx-officio Member (term 04/2024)
Richard a Dart MdSecretary
Mark Westover MbaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$398,596
Program Service Revenue
$187,019
Investment Income
$159,150
Other Revenue
$-39,514
All Other Contributions
$327,741
Change in Net Assets
$-98,233

Audited Revenue Reconciliation

Revenue per Audited Statements
$644,208
Revenue Not Reported on Financial Statements
$61,043
Revenue Not Reported on Form 990
$1,388,396
Total Revenue per Audited Statements
$2,032,604
Total Revenue per Form 990
$705,251
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$311,249
Salaries, Compensation, and Employee Benefits$253,007
Other Expenses$239,228
Total Fundraising Expense$60,854
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$246,000--$246,000
Current Officers, Directors, Trustees, and Key Employees$69,801$48,151-$117,952
Other Salaries and Wages$66,226-$41,897$108,123
Fees for Services Other$51,472$16,936$15,126$83,534
Grants to Domestic Orgs$65,249--$65,249
Fees for Service Investment Mgmnt Fees-$61,043-$61,043
Conferences and Meetings$2,374$2,229$35,406$40,009
Fees for Services Accounting-$33,652-$33,652
Advertising$32,212--$32,212
Office Expenses$12,759$1,913$14,637$29,309
Payroll Taxes$7,362$2,606$2,267$12,235
Other Employee Benefits$5,651$2,000$1,740$9,391
Travel$3,536$1,385$702$5,623
Pension Plan Contributions$3,193$1,130$983$5,306
Occupancy$3,060$1,083$943$5,086
Insurance$1,186$421$365$1,972
Other Expenses--$-53,212$-53,212
Total Functional Expenses$570,081$172,549$60,854$803,484

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$803,484
Total Expenses per Audited Statements$795,653
Expenses per Audited Statements$742,441
Expenses Not Reported on Financial Statements$61,043
Expenses Not Reported on Form 990$53,212
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wisconsin Medical Society IncFitchburg, WI501(c)(6)To Support Continuing Medical Education on Physician Wellness.$12,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$53,212
Fundraising Gross Income$13,420
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fundraising Event$84,275$13,420$4,335$9,085
Total Events$84,275$13,420$53,212$-39,792
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Wisconsin Medical Society$46,175
Ppp Loan$37,759
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The board of trustees reviews the form 990 prior to the filing of the form. This is typically done at a meeting of the trustees.

Form 990, Part VI, Section B, Line 12C

The organization requires the trustees, officers, and key employees to complete a conflict of interest statement at the beginning of their tenure. The conflict of interest statement imposes an ongoing obligation on the reporting individual to update the conflict of interest statement when circumstances change. The organization requires all trustees, officers, and key employees to review and update the conflict of interest statement annually. The conflict of interest statement identifies partnerships, affiliations and other relationships with hospitals and other organizations and the position that the reporting individual holds in each organization or venture. The conflict of interest statement also requires a listing of professional memberships. The office of the organization's executive director receives, reviews and maintains the conflict of interest statement. The organization's conflict of interest policy requires reporting individuals to promptly disclose any conflict of interest that might arise and take steps to prevent the conflict of interest from affecting organization's decisions or activities by refraining from voting on the issue.

Form 990, Part VI, Section B, Line 15A

The organization establishes the compensation for its executive director based on compensation surveys and form 990 of other organizations. The compensation of the executive director is approved by the board of directors.

Form 990, Part VI, Section C, Line 19

The organization will honor any requests by members of the public for inspection of its governing documents, conflict of interest policy and financial statements. The inspection would occur at the organization's primary place of business.

Filing and Contact Details

Filer

Filer Name
Wisconsin Medical Society
EIN
39-6045649
Phone
6084423800
Address
PO BOX 1109, MADISON, WI 53701

Signing Officer

Name
Mark Westover
Title
Treasurer
Phone
6084423800
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Ringle
Formed
1955
Legal Domicile
Wi
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
455

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
790 N WATER ST SUITE 2000, MILWAUKEE, WI 53202
Preparer
Shelby Netz
Phone
4147775500
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Professional fees: program service expenses 51,472. Management and general expenses 16,936. Fundraising expenses 15,126. Total expenses 83,534.

FORM 990, PART XI, LINE 9:

Change in value of charitable remainder trust 5,176.

Financial Statement Notes

PART V, LINE 4:

The foundation's endowment consists of six individual funds established by donors, three of which were established to fund scholarships, and three were established to fund health initiatives and research. Net assets are associated with endowment funds classified and reported based on the existence or absence of donor-imposed restrictions.

PART X, LINE 2:

The foundation follows the provisions of the uncertainty in income taxes section of the income taxes topic of the financial accounting standards board (fasb) accounting standards codification. These provisions address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. The foundation files a form 990 (return of organization exempt from income tax) annually. When this return is filed it is highly certain that some positions taken would be sustained upon examination by the taxing authorities while others are subject to uncertainty about the merits of the position taken or the amount of the position that would ultimately be sustained. Examples of tax positions include such matters as the following: the tax exempt status of the entity and various positions relative to potential sources of unrelated business taxable income (ubit). Ubit is reported on form 990t, as appropriate. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes that it is more likely than not that the positions will be sustained upon examination, including the resolution of appeals or litigation process, if any.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of charitable remainder trust 5,176. Direct fundraising event expenses 53,212.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising event expenses 53,212.

Raw XML AppendixShowing 400 of 681 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm20MATIDA BOJANG
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IRS990/Form990PartVIISectionAGrp/PersonNm22DON LEE MD
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT - PHYSICIAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT - PUBLIC
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR - STUDENT REPRESENTATIVE
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR - STUDENT REPRESENTATIVE
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR - RESIDENT REPRESENTATIVE
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR (TERM 12/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIR. - STUDENT REP. (TERM 04/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIR. - RESIDENT REP. (TERM 06/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR (TERM 11/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt21EX-OFFICIO MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22EX-OFFICIO MEMBER (TERM 04/2024)
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IRS990/MissionDesc0TO ADVANCE THE HEALTH OF THE PEOPLE OF WISCONSIN BY SUPPORTING MEDICAL EDUCATION AND HEALTH INITIATIVES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0MENTORINGTHE FOUNDATION OFFERS TWO MENTORING PROGRAMS. THROUGH THE WHITE COAT CAMPAIGN, THE FOUNDATION PROVIDES A WHITE COAT FOR EACH FIRST-YEAR MEDICAL STUDENT ATTENDING SCHOOL IN WISCONSIN ALONG WITH A LETTER OF WELCOME AND ENCOURAGEMENT FROM A DONOR PHYSICIAN. A TOTAL OF 444 WHITE COATS WERE AWARDED IN 4 CEREMONIES FROM EARLY JULY TO LATE AUGUST.THE FOUNDATION ALSO OFFERS OPERATION: EDUCATION, A FUN AND EDUCATIONAL PROGRAM HELD AT BOTH MEDICAL SCHOOLS. THIS BRINGS TOGETHER MEDICAL STUDENTS AND PHYSICIANS TO ENGAGE IN CONVERSATIONS ABOUT SPECIALTY AND PRIMARY CARE OPTIONS AVAILABLE TO THEM.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt033806
IRS990/ProgSrvcAccomActy3Grp/Desc0PUBLIC HEALTH - GRANTS PROGRAMTHE FOUNDATION'S GRANTS PROGRAM IS ADMINISTERED THROUGH ITS GRANT COMMITTEE. APPLICATIONS ARE ACCEPTED AND GRANTS ARE AWARDED FOR COMMUNITY HEALTH EDUCATION AND RESEARCH INITIATIVES. GRANT RECIPIENTS ARE REQUIRED TO REPORT THEIR RESULTS AND USE OF THE GRANT FUNDS. IN 2024, THE FOUNDATION AWARDED 16 GRANTS FOR A TOTAL OF $73,050.SUMMER FELLOWSHIP PROGRAMTHE FOUNDATION'S GRANT COMMITTEE ALSO ADMINISTERS ITS SUMMER FELLOWSHIP PROGRAM. THE PROGRAM OFFERS MEDICAL STUDENTS OPPORTUNITIES TO GAIN VALUABLE, FIRSTHAND EXPERIENCE IN COMMUNITY HEALTH EDUCATION OR RESEARCH DURING MEDICAL SCHOOL. IN 2024, 5 FELLOWSHIPS WERE AWARDED TOTALING $17,500.
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