Nonprofit · EIN 56-6088142
NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC
Tax-exempt · RALEIGH, NC 27601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $3,580,807 | $2,177,892 | $1,402,915 | $27,568,457 | $1,538,540 | $26,029,917 |
| December 31, 2024 | 990 | $2,611,253 | $2,208,365 | $402,888 | $25,449,057 | $1,449,035 | $24,000,022 |
| December 31, 2023 | 990 | $3,318,274 | $1,473,519 | $1,844,755 | $24,865,225 | $1,418,416 | $23,446,809 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $1,646,733
- of which government grants
- $1,800
- Program service revenue
- $101,886
- Investment income
- $1,832,188
- Net gain from sales of assets
- $940,952
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $658,505
- Compensation of officers, directors and key employees
- $220,799
- Other salaries and wages
- $390,291
- Salaries, compensation and benefits (total)
- $703,215
- Professional fundraising fees
- $0
- Accounting fees
- $33,825
- Occupancy
- $77,366
- Travel
- $14,898
- Program services (functional)
- $1,909,633
- Management and general (functional)
- $213,972
- Fundraising (functional)
- $54,287
Balance sheet and other
- Total assets, start of year
- $25,449,057
- Total assets, end of year
- $27,568,457
- Total liabilities, end of year
- $1,538,540
- Net assets, end of year
- $26,029,917
- Publicly traded securities
- $20,688,719
- Net assets without donor restrictions
- $1,571,066
- Net assets with donor restrictions
- $24,458,851
- Gross unrelated business income
- $713
- Gross receipts
- $9,737,843
- Employees
- 0
- Year formed
- 1966
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| HURSHELL E BAGGETT JR | CEO Officer | 52 | $0 | $328,475 | $40,550 |
| ASHLEY RODRIGUEZ | CLO Officer | 40 | $0 | $251,980 | $21,610 |
| JOHN THOMPSON | VP EXTERNAL Key employee | 40 | $0 | $227,894 | $21,033 |
| STEPHEN W KEENE | EVP/CEO Trustee or director, Officer | 52 | $0 | $240,000 | $0 |
| FRANKLIN WALKER | VP PRACTICE Key employee | 40 | $0 | $199,888 | $20,911 |
| LARRY CRAWFORD | VP FINANCE Key employee | 40 | $0 | $210,621 | $9,328 |
| ALLAN SKIPPER | VP LIASON Key employee | 40 | $0 | $184,377 | $16,867 |
| ASHLEY NEWTON | VP SOC MGMT Key employee | 40 | $0 | $168,592 | $18,662 |
| EVAN SIMMONS | CHIEF OF STA Officer | 40 | $0 | $175,227 | $4,162 |
| PAMELA HIGHSMITH | VP MMEBERSHI Officer | 40 | $0 | $148,414 | $18,407 |
| MONECIA THOMAS | VP PROF GROW Highest-paid employee | 40 | $0 | $131,338 | $17,171 |
| KELLY WILSON | DIRECTOR OPE Highest-paid employee | 40 | $0 | $127,359 | $17,290 |
| KATHERINE CROOM | DIRECTOR FIN Highest-paid employee | 40 | $0 | $121,913 | $16,432 |
| KRISTEN SHIPHERD | DIRECTOR MAR Highest-paid employee | 40 | $0 | $115,166 | $16,669 |
| FRANK SNYDER | DIRECTOR MEM Highest-paid employee | 40 | $0 | $112,901 | $17,185 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARC R CARRUTH | TRUSTEE Trustee or director | 1 | $0 |
| EMILY COLE | TRUSTEE Trustee or director | 1 | $0 |
| SHIRISH DEVASTHALI | TRUSTEE Trustee or director | 1 | $0 |
| PALMER EDWARDS | PRESIDENT EL Trustee or director | 1 | $0 |
| LELAND GARRETT | TRUSTEE Trustee or director | 1 | $0 |
| CYNTHIA GARY | PRESIDENT Trustee or director | 1 | $0 |
| CHRIS GRUBB | TRUSTEE Trustee or director | 1 | $0 |
| LACY HOBGOOD | TRUSTEE Trustee or director | 1 | $0 |
| ROY STROWD III | TRUSTEE Trustee or director | 1 | $0 |
| MICHELLE JONES | TRUSTEE Trustee or director | 1 | $0 |
| VENKAT PRASAD | TRUSTEE Trustee or director | 1 | $0 |
| TIMOTHY REEDER | TRUSTEE Trustee or director | 1 | $0 |
| VINAY SARANGA | TRUSTEE Trustee or director | 1 | $0 |
| OSI UDEKWU | TREASURER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 29 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| HURSHELL E BAGGETT JR | CEO Trustee or director | 52 | $0 | $346,171 | $49,695 |
| SHAWN SCOTT | COO Officer | 40 | $0 | $189,980 | $22,448 |
| JOHN THOMPSON | VP EXTERNAL Key employee | 40 | $0 | $190,615 | $21,798 |
| ASHLEY RODRIGUEZ | CLO Officer | 40 | $0 | $189,965 | $21,790 |
| FRANKLIN WALKER | VP PRACTICE Key employee | 40 | $0 | $171,670 | $20,664 |
| ASHLEY NEWTON | VP SOC MGMT Key employee | 40 | $0 | $159,214 | $20,489 |
| ALLAN SKIPPER | VP LIASON Key employee | 40 | $0 | $151,133 | $19,865 |
| LARRY CRAWFORD | VP FINANCE Key employee | 40 | $0 | $151,087 | $7,442 |
| PAMELA HIGHSMITH | VP MMEBERSHI Highest-paid employee | 40 | $0 | $130,740 | $19,185 |
| RANDY ALRIDGE | VP COMMUNICA Highest-paid employee | 40 | $0 | $115,249 | $18,515 |
| KELLY WILSON | DIRECTOR OPE Highest-paid employee | 40 | $0 | $105,694 | $17,319 |
| EVAN SIMMONS | CHIEF OF STA Officer | 40 | $0 | $112,106 | $6,081 |
| KATHERINE CROOM | DIRECTOR FIN Highest-paid employee | 40 | $0 | $101,140 | $17,031 |
| MICHELLE LAWS | FORMER DIREC Former | 40 | $0 | $113,333 | $0 |
| FRANK SNYDER | DIRECTOR MEM Officer | 40 | $0 | $95,790 | $16,915 |
| MARC R CARRUTH | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| EMILY COLE | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| SHIRISH DEVASTHALI | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| PALMER EDWARDS | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| LELAND GARRETT | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| CYNTHIA GARY | PRESIDENT Trustee or director | 1 | $0 | $0 | $0 |
| CHRIS GRUBB | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| LACY HOBGOOD | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| ROY STROWD III | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| MICHELLE JONES | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| VENKAT PRASAD | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| TIMOTHY REEDER | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| VINAY SARANGA | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| OSI UDEKWU | TREASURER Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 27 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| HURSHELL E BAGGETT JR | CEO Trustee or director | 52 | $0 | $333,945 | $38,807 |
| ASHLEY RODRIGUEZ | CLO Officer | 40 | $0 | $185,612 | $21,591 |
| MICHELLE LAWS | DIRECTOR Officer | 40 | $0 | $187,461 | $18,827 |
| SHAWN SCOTT | COO Officer | 40 | $0 | $181,966 | $21,952 |
| KRISTINA NATT OCH DAG | VP TRAINING Key employee | 40 | $166,673 | $0 | $19,881 |
| FRANKLIN WALKER | VP FOUNDATIO Key employee | 40 | $161,452 | $0 | $20,488 |
| ASHLEY NEWTON | VP MEMBERSHI Key employee | 40 | $0 | $150,645 | $20,053 |
| ALLAN SKIPPER | VP LIASON Highest-paid employee | 40 | $0 | $146,066 | $20,003 |
| PAMELA HIGHSMITH | VP DEVELOPME Highest-paid employee | 40 | $0 | $123,638 | $18,756 |
| RANDY ALRIDGE | VP COMMUNICA Highest-paid employee | 40 | $0 | $107,063 | $18,199 |
| RIAZ MULLICK | VP FINANCE Highest-paid employee | 40 | $0 | $100,132 | $13,178 |
| LARRY CRAWFORD | VP FINANCE Highest-paid employee | 40 | $0 | $103,712 | $5,566 |
| ARTHUR E APOLINARIO | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| MARC R CARRUTH | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| EMILY COLE | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| SHIRISH DEVASTHALI | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| PALMER EDWARDS | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| LELAND GARRETT | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| CYNTHIA GARY | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| LACY HOBGOOD | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| ROY STROWD III | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| LYNDON K JORDAN | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| ANDREW S LAMB | PRESIDENT Trustee or director | 1 | $0 | $0 | $0 |
| JASON NEWTON | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| KELLY A PRING | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| TIMOTHY REEDER | TRUSTEE Trustee or director | 1 | $0 | $0 | $0 |
| OSI UDEKWU | TREASURER Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 222 N PERSON STREET, RALEIGH, NC 27601-1067
- Principal officer (990 for 2025)
- STEPHEN W KEENE, 222 N PERSON STREET, RALEIGH, NC 27601
- Signed the 990
- STEPHEN W KEENE, EVP/CEO
- Phone
- (919) 833-3836
- Website
- WWW.NCMSFOUNDATION.ORG
- Return prepared by
- LANGDON & COMPANY LLP
Mission
TO IMPROVE ACCESS TO QUALITY HEALTHCARE FOR ALL NORTH CAROLINIANS.
Program accomplishments
- THE WORKFORCE RECRUITMENT AND RETENTION PROGRAM INCLUDES THE COMMUNITY PRACTITIONER PROGRAM (CPP). THE MAIN PURPOSE IS TO IMPROVE ACCESS TO CARE FOR PATIENTS LIVING IN RURAL AND/OR UNDER-SERVED AREAS OF NORTH CAROLINA. THE CPP RECRUITS AND RETAINS PRIMARY CARE PROVIDERS AS WELL AS GENERAL SURGEONS AND PSYCHIATRISTS THROUGH THE PROVISION OF EDUCATIONAL LOAN REPAYMENT AS WELL AS PRACTICE MANAGEMENT AND CLINICAL QUALITY SERVICES. CPP WORKS IN CONCERT WITH ADDITIONAL WORKFORCE EFFORTS THROUGHOUT THE STATE TO ASSESS HEALTH CARE WORKFORCE NEEDS AND PLAN STRATEGICALLY IN ORDER TO ASSURE A QUALITY PHYSICIAN WORKFORCE FOR UNDER-SERVED PATIENTS AND COMMUNITIES.Expenses $1,242,789 · grants $518,480
- LEADERSHIP DEVELOPMENT INITIATIVES FALL UNDER THE UMBRELLA OF THE KANOF INSTITUTE FOR PHYSICIAN LEADERSHIP (KIPL). KIPL'S MAIN PURPOSE IS TO PREPARE PHYSICIANS TO LEAD IN AN EVOLVING HEALTH CARE SYSTEM. KIPL OPERATES 2 EDUCATION PROGRAMS INCLUDING THE NCMS LEADERSHIP COLLEGE AND HEALTH CARE LEADERSHIP AND MANAGEMENT AND CUSTOMIZED TRAINING FOR PRACTICES SEEKING MORE INDIVIDUALIZED LEARNING.Expenses $337,263 · revenue $101,886
- THE PHYSICIAN WELLNESS PROGRAM DEVOTES RESOURCES TO PHYSICIANS' WELL-BEING TO HELP REDISCOVER THE JOY OF PRACTICING MEDICINE AND THE BEAUTY OF RECONNECTING WITH PATIENTS. EFFORTS ARE FOCUSED ON CHANGING THE CULTURE AROUND SEEKING HELP, GATHERING, AND DISSEMINATING BEST PRACTICES, EDUCATION AND BUILDING FINANCIAL RESOURCES.Expenses $226,945 · grants $125,025
- OTHER PROGRAMS INCLUDE OFFICE-BASED OPIOD TREATMENT AND OUR COMMUNITY HEALTH INITIATIVE.Expenses $102,636 · grants $15,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-6088142
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1967
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $27,568,457
- Income (IRS master file)
- $9,737,843
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $3,580,807 | $2,177,892 | $27,568,457 | XML |
| 990-T | December 2025 | – | – | – | IRS |
| 990 | December 2024 | $2,611,253 | $2,208,365 | $25,449,057 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $3,318,274 | $1,473,519 | $24,865,225 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $1,345,809 | $1,331,349 | $21,133,016 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-6088142).
Questions about NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC
- What is the EIN of NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC?
- The employer identification number (EIN) of NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC is 56-6088142.
- Is NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1967.
- Are donations to NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC?
- The 990 for the year ended December 31, 2025 names STEPHEN W KEENE.
- Who are the officers and directors of NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC?
- The 990 for the year ended December 31, 2025 lists 29 people; 0 received compensation from the organization.
- How much revenue does NORTH CAROLINA MEDICAL SOCIETY FOUNDATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $3,580,807, expenses of $2,177,892 and total assets of $27,568,457 at year end.
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