2024-04-11T15:34:46-05:00 2023-05-31 990 2022-06-01 042050773 MASSACHUSETTS MEDICAL SOCIETY MASS 7818934610 860 WINTER STREET WALTHAM MA 024511411 LOIS DEHLS CORNELL EXECUTIVE VICE PRESIDENT 7814347352 2024-04-10 LOIS DEHLS CORNELL XXX-XX-XXXX 1 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LOIS DEHLS CORNELL 860 WINTER STREET WALTHAM MA 024511411 245642377 0 9253 X WWW.MASSMED.ORG X 1781 MA SEE FORM 990, PART III, LINE 1. 30 25 489 800 25333387 1139126 1025953 818694 109359814 98999992 31102784 2779854 16079579 23244530 157568130 125843070 1122606 825092 0 0 78487384 77328182 0 0 0 57535687 58181270 137145677 136334544 20422453 -10491474 298279224 281862619 110610582 98164022 187668642 183698597 X 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. 0 0 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, AND NEJM EVIDENCE. AS THE FLAGSHIP OF NEJM GROUP, THE NEW ENGLAND JOURNAL OF MEDICINE (NEJM) IS RECOGNIZED AS THE WORLD'S LEADING GENERAL MEDICAL JOURNAL AND WEBSITE. 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. EDUCATION: TOGETHER, MMS AND NEJM GROUP PROVIDE UNPARALLELED CONTENT AND EDUCATION SERVICES TO REACH PRACTICING HEALTH CARE PROFESSIONALS AND IMPROVE PATIENT CARE. THE MASSACHUSETTS MEDICAL SOCIETY RECEIVED ACCREDITATION WITH COMMENDATION BY THE ACCME AND HAS MAINTAINED THIS CERTIFICATION OF EXCELLENCE SINCE THE PROGRAM'S INCEPTION. THROUGH OUR CONTINUING MEDICAL EDUCATION PROGRAM (CME), THE MASSACHUSETTS MEDICAL SOCIETY (MMS) SEEKS TO ENABLE CLINICALLY RELEVANT AND VALUABLE LEARNING, FRAMED BY THE BEST AVAILABLE EVIDENCE, DESIGNED TO ADVANCE THE QUALITY, ACCESSIBILITY, EQUITY, SAFETY, AND COST-EFFECTIVENESS OF HEALTH CARE FOR PATIENTS AND THE PUBLIC WHILE PROMOTING CLINICIAN PROFESSIONALISM AND WELLNESS. IN SUMMARY, WE SEEK TO ENSURE OPTIMAL HEALTH AND WELL-BEING OF PATIENTS AND PROVIDERS. UNDER THE AUSPICES OF NEJM GROUP, THE MMS FURTHER EXTENDS OUR MISSION GLOBALLY THROUGH OUR EDUCATION PRODUCTS FOR HEALTH CARE PROFESSIONALS: - NEJM KNOWLEDGE+, A COMPREHENSIVE ADAPTIVE LIFELONG LEARNING PLATFORM THAT HELPS CLINICIANS LEARN AND PREPARE FOR THEIR BOARD EXAM OR LONGITUDINAL ASSESSMENT, ASSESS AND IMPROVE CLINICAL KNOWLEDGE, AND ENHANCE THE QUALITY OF THEIR PRACTICE- NEJM RESIDENT 360, A TOOL THAT HELPS PHYSICIANS-IN-TRAINING PREPARE FOR THEIR ROTATIONS QUICKLY AND EFFICIENTLY, PROVIDES SUPPORT FOR COPING WITH PRESSURES OF RESIDENT LIFE, AND EQUIPS THEM FOR THE NEXT STEP IN THEIR CAREER- NEJM HEALER, AN ONLINE APPLICATION THAT HELPS MEDICAL EDUCATORS TEACH AND ASSESS STUDENTS' CLINICAL REASONING SKILLS AND HELPS STUDENTS TO DEVELOP SOUND DIAGNOSTIC SKILLS MEMBER SERVICES: THE MASSACHUSETTS MEDICAL SOCIETY (MMS) IS THE STATEWIDE PROFESSIONAL ASSOCIATION FOR PHYSICIANS AND MEDICAL STUDENTS, SUPPORTING APPROXIMATELY 25,000 MEMBERS. THE MMS IS DEDICATED TO EDUCATING AND ADVOCATING FOR THE PHYSICIANS OF MASSACHUSETTS AND PATIENTS LOCALLY AND NATIONALLY. A LEADERSHIP VOICE IN HEALTH CARE, THE MMS CONTRIBUTES PHYSICIAN AND PATIENT PERSPECTIVES TO INFLUENCE HEALTH-RELATED LEGISLATION AT THE STATE AND FEDERAL LEVELS. THROUGH FY23, THE MMS, WHICH IS THE STATE'S LARGEST PHYSICIAN-LED MEMBERSHIP ORGANIZATION, CONTINUED TO BE A SOURCE OF PROFESSIONAL SUPPORT AND EDUCATION FOR PHYSICIANS WHILE ADVOCATING FOR PHYSICIANS AND PATIENTS. HUNDREDS OF MEMBERS ACTIVELY PARTICIPATED IN DOZENS OF MMS INITIATIVES, ACTIVITIES, AND NEW MMS POLICIES. KEY AREAS OF FOCUS AND IMPACT DURING FY23 WERE REPRODUCTIVE RIGHTS; GUN VIOLENCE; EQUITY IN HEALTH CARE; COMBATTING MISINFORMATION IN HEALTHCARE AND PUBLIC HEALTH; PHYSICIAN BURNOUT; MENTAL HEALTH CARE; MPOX (FORMERLY KNOWN AS MONKEYPOX); AND RESPIRATORY SYNCYTIAL VIRUS (RSV).MMS ADVOCACY EFFORTS THIS YEAR INCLUDED TELEHEALTH PAYMENTS; REDUCING PROPOSED MEDICARE CUTS; PROTECTING PATIENTS AND PROVIDERS OF REPRODUCTIVE HEALTHCARE; SUPPORTING MENTAL HEALTH; ADDRESSING GUN VIOLENCE; AND ADDRESSING PRIOR AUTHORIZATION AND OTHER ADMINISTRATIVE BURDENS FOR PHYSICIANS. 0 1 0 1 0 0 0 0 1 1 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 317 0 1 489 1 1 1 1 UK CA 0 0 0 0 0 0 X 30 25 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X PAUL SHANNON 7814347352 860 WINTER STREET WALTHAM MA 02451 THEODORE A CALIANOS II MD FACS PRESIDENT 20.00 X X 138542 0 0 BARBARA S SPIVAK MD PRESIDENT-ELECT 12.00 X X 71875 0 0 HUGH M TAYLOR MD VICE PRESIDENT 12.00 1.50 X X 29167 0 0 LYNDA G KABBASH MD SECRETARY-TREASURER 12.00 1.70 X X 25000 0 0 LEE S PERRIN MD ASST. SECRETARY-TREAS 4.00 1.50 X X 0 0 5208 JEAN M BRUCH MD DMD TRUSTEE 0.30 X 0 0 0 MICHAEL S KAPLAN MD TRUSTEE 0.30 X 0 0 0 CHRISTOPHER GAROFALO MD TRUSTEE 0.30 X 0 0 0 KENATH J SHAMIR MD TRUSTEE 0.30 X 0 0 0 CAROLE E ALLEN MD TRUSTEE, FORMER PRESIDENT 0.30 X 52417 0 20500 DAVID T GOLDEN MD TRUSTEE 0.30 X 0 0 0 ANN B SPIRES MD TRUSTEE 0.30 X 0 0 0 THOMAS A MURRAY III MD TRUSTEE 0.30 X 0 0 0 FLORA F SADRI-AZARBAYANI DO TRUSTEE 0.30 X 0 0 0 JAMES K WANG MD TRUSTEE 0.30 X 0 0 0 KATHERINE J ATKINSON MD TRUSTEE 0.30 X 0 0 0 ANA-CRISTINA VASILESCU MD TRUSTEE 0.30 X 0 0 0 SARAH F TAYLOR MD TRUSTEE 0.30 X 0 0 0 NIDHI K LAL MD TRUSTEE 0.30 X 0 0 0 JOHN A DELOGE MD TRUSTEE 0.30 X 0 0 0 NICOLAS ARGY MD JD TRUSTEE 0.30 X 0 0 0 SIMONE S WILDES MD TRUSTEE 0.30 X 0 0 0 GEORGE J CLAIRMONT MD TRUSTEE 0.30 X 0 0 0 MICHAEL S ANNUNZIATA MDUNTIL 323 TRUSTEE 0.30 X 0 0 0 S JAY JAYASANKAR MD BEG 32023 TRUSTEE 0.30 X 0 0 0 MANJUL SHUKLA MD TRUSTEE 0.30 X 0 0 0 ROBERT B COIT MD TRUSTEE 0.30 X 0 0 0 BONNIE DUNLAP RN TRUSTEE 0.30 1.50 X 0 0 0 SAHDEV R PASSEY MD TRUSTEE 0.30 1.50 X 0 0 0 MARK A KASHTAN MD MPH RESIDENT TRUSTEE 0.30 X 0 0 0 BENNETT VOGT STUDENT TRUSTEE 0.30 X 0 0 0 LOIS DEHLS CORNELL EXECUTIVE VICE PRESIDENT 50.00 0.40 X 731756 0 60533 PAUL SHANNON VICE PRESIDENT, FINANCE 50.00 0.20 X 351668 0 56326 MELODY J ECKARDT MD MPH FACOG SPEAKER 3.00 X 25000 0 0 ELI FREIMAN MD FAAP VICE SPEAKER 3.00 X 12500 0 0 DAVID SAMPSON VP NEJM GROUP 50.00 X 525730 0 70707 ERIC JOSEPH RUBIN MD EDITOR-IN-CHIEF 50.00 X 646600 0 57276 THERESA E SCIARAPPA VP / CHIEF OPERATING OFFIC 50.00 X 537871 0 55430 CHARLES T ALAGERO VP / GENERAL COUNSEL 50.00 X 450540 0 72564 ROBERT J STUART VP / CHIEF DIGITAL OFFIC 50.00 X 437751 0 67240 MARY BETH E HAMEL MD EXECUTIVE EDITOR 50.00 X 430222 0 72731 JEFFREY M DRAZEN MD EDITOR (CURRENT); FORMER E 50.00 X 416228 0 69918 4882867 0 608433 229 1 1 0 QUAD GRAPHICS III COMPANY PO BOX 644840 PITTSBURGH PA 15264 PRINTING SERVICES 1666421 ATYPON SYSTEMS INC 5201 GREAT AMERICA PARKWAY SUITE 2 SANTA CLARA CA 95054 WEB DEVELOPMENT 1237071 HOLLISTER STAFFING INC 75 STATE ST BOSTON MA 02109 STAFFING SUPPORT 1101391 BLUE MANTIS INC PO BOX 844844 BOSTON MA 02284 IT SUPPORT 1058948 TECHLOGIX INC 400 TRADECENTER WOBURN MA 01801 TECHNOLOGY SERVICES 727800 80 X 818694 818694 PUBLICATION REVENUE 513120 90811128 66888547 23922581 EDUCATIONAL 611710 5519791 5519791 MEMBERSHIP & HEADQUART 900099 2669073 2669073 98999992 4402727 4402727 20621934 20621934 1053288 126940 926348 926348 926348 113925477 4124017 115797928 3874439 -1872451 249578 -1622873 -1622873 CONFERENCE CENTER/CAFE 722320 1696248 1410806 285442 1696248 125843070 95699345 25333387 3991644 687057 138035 2222395 54374265 8159416 8693222 3878884 423834 234984 100000 735811 13119207 3666391 564386 9369406 4309596 764930 629178 1824772 7301182 772417 INCOME TAX 333839 NEJM GROUP COGS 11469331 CONFERENCE CENTER FOOD 958695 CREDIT CARD PROCESSING 830387 772924 136334544 2161336 1280868 6143530 6664520 17131525 14315754 4794000 5018000 5140 0 3193178 3074000 126674289 78617044 53292467 48057245 207851118 193088170 1878830 8101759 1828100 2262303 298279224 281862619 13303095 10625415 38206938 35358982 39308098 35971112 19792451 16208513 110610582 98164022 X 187668642 183698597 187668642 183698597 298279224 281862619 X -10491474 -381756 6903185 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 1996182 488289 488289 598855 -110566 59011513 36878291 920323 96810127 66092406 -4862497 2218396 59011513 53335566 14848810 2091970 66092406 52407973 2937318 2009725 53335566 52133080 2221299 1946406 52407973 1.00000 0.00000 0.00000 0 0 16788125 16788125 54366811 35798522 18568289 1210004 1210004 0 5985023 4880024 1104999 48324326 36728494 11595832 48057245 DEFERRED COMPENSATION 1376504 UNFUNDED PENSION LIABILITY 14830635 OTHER CURRENT LIABILITY 1374 16208513 PART V, LINE 4: THE BOARD DESIGNATED ENDOWMENT IS INTENDED TO ENSURE THE LONG-TERM FINANCIAL HEALTH OF THE SOCIETY. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 15 PROGRAM SERVICES PUBLISHING 1919000 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 6 PROGRAM SERVICES PUBLISHING 519000 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 5 PROGRAM SERVICES PUBLISHING 139000 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 4 PROGRAM SERVICES PUBLISHING 1382000 SOUTH AMERICA 0 1 PROGRAM SERVICES PUBLISHING 3000 CENTRAL AMERICAL AND THE CARIBBEAN 0 INVESTMENTS 3929000 0 31 0 0 0 31 7891000 0 7891000 1 0 1 0 1 1 PART I, LINE 2: THE SOCIETY DID NOT MAKE GRANTS OUTSIDE OF THE UNITED STATES. PART I, LINE 3: ACCRUAL BASIS PART III ACCOUNTING METHOD: PART I, LINE 3, COLUMN (C) EMPLOYEES, AGENTS, AND INDEPENDENT CONTRACTORS THE MASSACHUSETTS MEDICAL SOCIETY DOES NOT HAVE ANY EMPLOYEES OUTSIDE OF THE UNITED STATES. THE INDIVIDUALS COUNTED IN PART I, LINE 3, COLUMN C, ARE INDEPENDENT SERVICE PROVIDERS. 1 PHYSICIAN HEALTH SERVICES 860 WINTER STREET WALTHAM MA 02451 223234975 501(C)(3) 458000 0 PHYSICIAN OUTREACH SERVICES MMS AND ALLIANCE CHARITABLE FOUNDATION 860 WINTER STREET WALTHAM MA 02451 223199624 501(C)(3) 100000 0 COMMUNITY ACTION MASS MEDICAL BENEVOLENT SOCIETY 860 WINTER STREET WALTHAM MA 02451 237089741 501(C)(3) 50000 0 FINANCIAL RELIEF BOSTON MEDICAL LIBRARY 333 SOUTH STREET SHREWSBURY MA 01545 042013908 501(C)(3) 25000 0 MEDICAL KNOWLEDGE MASS MEDICAL ALLIANCE 860 WINTER STREET WALTHAM MA 02451 237055291 501(C)(6) 10000 0 HEALTH EDUCATION ALL OTHERS (5000 OR LESS) 860 WINTER STREET WALTHAM MA 02451 501(C)(3) 44057 0 VARIOUS 4 1 MEDICAL STUDENT GRANTS - SCHOLAR AWARDS PROGRAM 23 95000 ACHIEVEMENT AWARDS AND OTHER AWARDS 12 33500 LGBTQ HEALTH DISPARITIES GRANT 3 9535 PART I, LINE 2: PART II THE AMOUNTS LISTED IN PART II ARE GENERAL UNRESTRICTED CONTRIBUTIONS AND NOT GRANTS. PART III ACHIEVEMENT AWARDS AND OTHER AWARDS ARE UNRESTRICTED AWARDS AND NOT GRANTS. SCHOLAR AWARDS ARE GIVEN TO STUDENTS ENROLLED IN A MEDICAL SCHOOL IN MASSACHUSETTS. THE MEDICAL SCHOOLS SELECT CANDIDATES BASED ON THEIR ACADEMIC EXCELLENCE, COMMUNITY SERVICE, AND FINANCIAL NEED. THE MASSACHUSETTS MEDICAL SOCIETY SELECTION COMMITTEE INTERVIEWS CANDIDATES AND FINAL AWARDS (GRANTS) ARE BASED ON THEIR DECISION. THE LGBTG HEALTH DISPARITIES GRANT IS GIVEN TO MEDICAL STUDENTS AND RESIDENTS/FELLOWS TO IMPROVE HEALTH CARE QUALITY, ACCESS, AND EQUITY FOR LGBTQ PATIENTS IN THE COMMONWEALTH. RECIPIENTS ARE REQUIRED TO SUBMIT A REPORT DETAILING HOW GRANT FUNDS WERE USED, ALONG WITH REPORTS DETAILING THE RESULTS OF THE FUNDED PROJECT. X X X X X X 0 0 0 LOIS DEHLS CORNELL EXECUTIVE VICE PRESIDENT 551202 0 150062 0 30492 0 30500 0 30033 0 792289 0 0 0 ERIC JOSEPH RUBIN MD EDITOR-IN-CHIEF 537666 0 82700 0 26234 0 30398 0 26878 0 703876 0 0 0 DAVID SAMPSON VP NEJM GROUP 394903 0 108350 0 22477 0 32923 0 37784 0 596437 0 0 0 THERESA E SCIARAPPA VP / CHIEF OPERATING OFFIC 417372 0 117438 0 3061 0 30052 0 25378 0 593301 0 0 0 CHARLES T ALAGERO VP / GENERAL COUNSEL 385233 0 59876 0 5431 0 36581 0 35983 0 523104 0 0 0 ROBERT J STUART VP / CHIEF DIGITAL OFFIC 367833 0 65199 0 4719 0 31238 0 36002 0 504991 0 0 0 MARY BETH E HAMEL MD EXECUTIVE EDITOR 419437 0 5950 0 4835 0 59690 0 13041 0 502953 0 0 0 JEFFREY M DRAZEN MD EDITOR (CURRENT); FORMER E 382089 0 2200 0 31939 0 41790 0 28128 0 486146 0 0 0 PAUL SHANNON VICE PRESIDENT, FINANCE 288036 0 46550 0 17082 0 30448 0 25878 0 407994 0 0 0 PART I, LINE 3 THE EXECUTIVE VICE PRESIDENT IS THE TOP MANAGEMENT OFFICIAL. THE PROCESS FOR DETERMINING HER COMPENSATION IS DESCRIBED ON SCHEDULE O, PART VI, SECTION B, LINE 15. FORM 990, PART I, LINE 6, VOLUNTEERS 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. FORM 990, PART VI, SECTION A, LINE 6 DISTRICT SOCIETY MEMBERS ELECT TWO OF THEIR MEMBERS TO SERVE ON THE BOARD OF TRUSTEES. ONE AS TRUSTEE WITH FULL VOTING RIGHTS AND THE OTHER AS AN ALTERNATE TRUSTEE. FORM 990, PART VI, SECTION A, LINE 7A DISTRICT SOCIETY MEMBERS ELECT TWO OF THEIR MEMBERS TO SERVE ON THE BOARD OF TRUSTEES. ONE AS TRUSTEE WITH FULL VOTING RIGHTS AND THE OTHER AS AN ALTERNATE TRUSTEE. FORM 990, PART VI, SECTION A, LINE 7B 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, PART VI, SECTION B, LINE 11B FORM 990 AND ALL RELATED SCHEDULES ARE REVIEWED BY THE SOCIETY'S TAX ADVISORS AT CBIZ. IN ADDITION, A DETAILED 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. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15 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 OFFICER/TRUSTEES WHO RECEIVE HONORARIA, WHICH INCLUDES THE PRESIDENT, PRESIDENT-ELECT, VICE PRESIDENT, SECRETARY-TREASURER, ASSISTANT 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 JANUARY, 2022. FORM 990, PART VI, SECTION C, LINE 19 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. FORM 990, PART I, LINE 10 & PART VIII, LINE 7, INVESTMENT INCOME: 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. FORM 990, PART XI, LINE 9: PENSION LIABILITY ADJUSTMENT 6,826,001. CHANGE IN UNREALIZED GAIN ON DERIVATIVE INSTRUMENT 77,184. MMS WINTER STREET LLC 860 WINTER STREET WALTHAM MA 024511411 043384431 PROPERTY DE 0 28814157 MASSACHUSETTS MEDICAL SOCIETY MMS LOT 2 LLC 860 WINTER STREET WALTHAM MA 024511411 043500736 PROPERTY DE 0 10619395 MASSACHUSETTS MEDICAL SOCIETY MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND 860 WINTER STREET WALTHAM MA 024511411 046075905 MEDICAL STUDENT LOANS MA 501(C)(3) 12, TYPE I MASSACHUSETTS MEDICAL SOCIETY 1 PHYSICIAN HEALTH SERVICES INC 860 WINTER STREET WALTHAM MA 024511411 223234975 OUTREACH SERVICES MA 501(C)(3) 12, TYPE I MASSACHUSETTS MEDICAL SOCIETY 1 MASSACHUSETTS MEDICAL SOCIETY & ALLIANCE CHARITABLE FOUNDATION 860 WINTER STREET WALTHAM MA 024511411 223199614 GRANTMAKING MA 501(C)(3) 12, TYPE I MASSACHUSETTS MEDICAL SOCIETY 1 BOSTON MEDICAL LIBRARY 10 SHATTUCK STREET BOSTON MA 02115 042013908 EDUCATION MA 501(C)(3) 12, TYPE II MASSACHUSETTS MEDICAL SOCIETY 0 PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC 860 WINTER STREET WALTHAM MA 024511411 043135954 INSURANCE MA N/A C 2010954 7568020 1.00000 1 1 1 0 1 0 0 0 0 0 1 0 1 1 1 1 0 1 1 1 PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC A 89993 FAIR MARKET VALUE PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC O 196000 COST ALLOCATION PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC Q 81689 COST ALLOCATION MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND D 5018000 PROMISSORY NOTE MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND A 119713 PROMISSORY NOTE PHYSICIAN HEALTH SERVICES INC A 54600 LEASE PHYSICIAN HEALTH SERVICES INC B 458000 COST PHYSICIAN HEALTH SERVICES INC Q 145172 COST ALLOCATION PHYSICIAN HEALTH SERVICES INC L 51788 COST ALLOCATION MASSACHUSETTS MEDICAL SOCIETY AND ALLIANCE CHARITABLE FOUNDATION B 100000 COST MASSACHUSETTS MEDICAL SOCIETY AND ALLIANCE CHARITABLE FOUNDATION L 115060 COST ALLOCATION MASSACHUSETTS MEDICAL SOCIETY AND ALLIANCE CHARITABLE FOUNDATION L 90368 COST