2025-04-11T07:56:25-05:00 2024-05-31 990 2023-06-01 042050773 MASSACHUSETTS MEDICAL SOCIETY MASS 7818934610 860 WINTER STREET WALTHAM MA 024511411 LOIS DEHLS CORNELL EXECUTIVE VICE PRESIDENT 7814347352 2025-04-08 1 2023 2025-03-06 01:10:19Z LOIS DEHLS CORNELL 860 WINTER STREET WALTHAM MA 02451 221738721 0 9253 X WWW.MASSMED.ORG X 1781 MA SEE FORM 990, PART III, LINE 1. 30 24 498 800 23639990 219424 818694 1335321 98999992 74184052 2779854 21880552 23244530 40611873 125843070 138011798 825092 757980 0 0 77328182 79061889 0 0 0 58181270 53465410 136334544 133285279 -10491474 4726519 281862619 295176920 98164022 91242627 183698597 203934293 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, NEJM EVIDENCE, AND NEJM AI. AS THE FLAGSHIP OF NEJM GROUP, NEJM IS RECOGNIZED AS THE WORLD'S LEADING GENERAL MEDICAL JOURNAL. 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, 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. MEMBER SERVICES: THE MASSACHUSETTS MEDICAL SOCIETY (MMS) IS THE STATEWIDE PROFESSIONAL ASSOCIATION FOR PHYSICIANS AND MEDICAL STUDENTS, SUPPORTING APPROXIMATELY 24,000 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 FY24, MMS - 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. MEMBERS ACTIVELY PARTICIPATED IN ADVANCING DOZENS OF MMS INITIATIVES, ACTIVITIES, AND POLICIES. SOME KEY AREAS OF FOCUS AND IMPACT DURING FY24 WERE OPIOID ADDICTION; MENTAL HEALTH CARE; RESPONSIBLE ARTIFICIAL INTELLIGENCE; REDUCING POTENTIAL MEDICARE CUTS; PUBLIC HEALTH ISSUES, SUCH AS MPOX, RESPIRATORY SYNCYTIAL VIRUS (RSV), AND MEASLES; PHYSICIAN MENTORING AND SUPPORT PROGRAMS; THE SHORTAGE OF PRIMARY CARE PHYSICIANS; SEDATION AND ANESTHESIA FOR COLONOSCOPIES AND ENDOSCOPIES; AND PRIOR AUTHORIZATION AND OTHER ADMINISTRATIVE BURDENS FOR PHYSICIANS. 0 1 0 1 0 0 0 0 1 1 1 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 1 296 0 1 498 1 1 1 1 UK CA 0 0 0 0 0 0 X 30 24 0 0 1 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 X BARBARA S SPIVAK PRESIDENT 20.00 X X 138541 0 0 HUGH M TAYLOR PRESIDENT-ELECT 12.00 1.50 X X 71875 0 0 OLIVIA LIAO VICE PRESIDENT 12.00 X X 6667 0 22500 LYNDA KABBASH SECRETARY-TREASURER 12.00 1.70 X X 25000 0 0 LEE S PERRIN ASST. SECRETARY-TREAS 4.00 1.50 X X 0 0 0 THEODORE A CALIANOS IMMEDIATE PAST PRESIDENT 0.30 X 74917 0 0 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 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 PAULA JO CARBONE 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 S JAY JAYASANKAR MD 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 SAHDEV R PASSEY MD TRUSTEE 0.30 1.50 X 0 0 0 PATRICK LOWE MD RESIDENT TRUSTEE 0.30 X 0 0 0 SENILA YASMIN STUDENT TRUSTEE 0.30 X 0 0 0 MELODY J ECKARDT MD MPH FACOG SPEAKER 3.00 X X 25000 0 0 LOIS DEHLS CORNELL EXECUTIVE VICE PRESIDENT 50.00 0.40 X 594055 0 64125 PAUL SHANNON VICE PRESIDENT, FINANCE 50.00 0.20 X 321198 0 58995 ELI FREIMAN MD FAAP VICE SPEAKER 3.00 X 12500 0 0 DAVID SAMPSON VP/CHIEF PUBLISHING OFFICER, NEJM GROUP 50.00 X 429927 0 72109 THERESA E SCIARAPPA SENIOR VP, COO 50.00 X 443365 0 58294 ERIC JOSEPH RUBIN MD EDITOR-IN-CHIEF 50.00 X 591427 0 60734 ROBERT J STUART VP/CHIEF DIGITAL OFFICER 50.00 X 463168 0 62210 MARY BETH E HAMEL MD EXECUTIVE EDITOR 50.00 X 442814 0 75043 DARREN TAICHMAN MD DEPUTY EDITOR 50.00 X 434504 0 76306 DAN L LONGO MD DEPUTY EDITOR 50.00 X 414488 0 33041 JEFFREY M DRAZEN MD EDITOR (CURRENT); FORMER E 50.00 X 415739 0 70689 4905185 0 654046 246 1 1 0 QUAD GRAPHICS III COMPANY PO BOX 644840 PITTSBURGH PA 15264 PRINTING SERVICES 1557392 HOLLISTER STAFFING INC 75 STATE ST BOSTON MA 02109 STAFFING SUPPORT 911853 SEASIA INFOTECH PRIVATE LTD C-136 PHASE VIII INDUSTRIAL AREA MOHALI IN 160062 TECHNOLOGY SERVICES 855422 ATYPON SYSTEMS INC 5201 GREAT AMERICA PARKWAY SUITE 2 SANTA CLARA CA 95054 WEB DEVELOPMENT 733238 TECHLOGIX INC 400 TRADECENTER WOBURN MA 01801 TECHNOLOGY SERVICES 725385 70 1335321 1335321 PUBLICATION REVENUE 513120 66673497 45038287 21635210 EDUCATIONAL 611710 4548419 4548419 MEMBERSHIP & HEADQUART 900099 2962136 2962136 74184052 6346116 6346116 37675081 37675081 1053288 127448 925840 925840 925840 88786842 10347069 83223634 375841 5563208 9971228 15534436 15534436 CONFERENCE CENTER/CAFE 722320 2010952 2004780 6172 2010952 138011798 90223923 23639990 22812564 623206 134774 2483313 56229213 7037892 9197218 4114253 293734 274867 100000 392076 12301931 3119675 647548 9709023 3952060 822968 691220 1809039 5532807 740587 NEJM GROUP COGS 10406306 CONFERENCE CENTER FOOD 1022417 CREDIT CARD PROCESSING 869621 AMA DUES & MMS DISTRICT 254848 524683 133285279 1280868 975597 6664520 6378849 14315754 16018705 5018000 4509000 3074000 3139426 125417915 80379786 48057245 45038129 193088170 194416901 8101759 15685590 2262303 9014723 281862619 295176920 10625415 10310781 35358982 34494258 35971112 22208333 16208513 24229255 98164022 91242627 X 183698597 203934293 183698597 203934293 281862619 295176920 X 4726519 16162759 -653582 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 2126337 546424 546424 637901 -91477 96810127 12343503 3780264 105373366 59011513 36878291 920323 96810127 66092406 -4862497 2218396 59011513 53335566 14848810 2091970 66092406 52407973 2937318 2009725 53335566 1.00000 0 0 16788125 16788125 54279645 37406269 16873376 1031767 1031767 0 4735484 4031004 704480 48582894 37910746 10672148 45038129 OTHER SECURITIES 15685590 F 15685590 DEFERRED COMPENSATION 1745607 UNFUNDED PENSION LIABILITY 15611405 OTHER CURRENT LIABILITY 6872243 24229255 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 12 PROGRAM SERVICES PUBLISHING 1531000 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 6 PROGRAM SERVICES PUBLISHING 527000 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 7 PROGRAM SERVICES PUBLISHING 138000 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 4 PROGRAM SERVICES PUBLISHING 1429000 SOUTH AMERICA 0 1 PROGRAM SERVICES PUBLISHING 3000 CENTRAL AMERICAL AND THE CARIBBEAN 0 0 INVESTMENTS 5634000 0 30 0 0 0 30 9262000 0 9262000 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 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) 409000 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 BOSTON HEALTHCARE FOR THE HOMELESS 780 ALBANY STREET BOSTON MA 02118 043160480 501(C)(3) 8588 0 HEALTH EDUCATION ALL OTHERS (5000 OR LESS) 860 WINTER STREET WALTHAM MA 02451 501(C)(3) 30618 0 VARIOUS 5 0 MEDICAL STUDENT GRANTS - SCHOLAR AWARDS PROGRAM 24 96000 ACHIEVEMENT AWARDS AND OTHER AWARDS 28 26200 HEALTH DISPARITIES GRANT 4 12574 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 HEALTH DISPARITIES GRANT IS GIVEN TO MEDICAL STUDENTS AND RESIDENTS/FELLOWS TO IMPROVE HEALTH CARE QUALITY AND ACCESS FOR 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 566073 0 0 0 27982 0 33000 0 31125 0 658180 0 0 0 ERIC JOSEPH RUBIN MD EDITOR-IN-CHIEF 559909 0 200 0 31318 0 33102 0 27632 0 652161 0 0 0 ROBERT J STUART VP/CHIEF DIGITAL OFFICER 382468 0 77200 0 3500 0 33333 0 28877 0 525378 0 0 0 MARY BETH E HAMEL MD EXECUTIVE EDITOR 432037 0 5200 0 5577 0 61950 0 13093 0 517857 0 0 0 DARREN TAICHMAN MD DEPUTY EDITOR 428025 0 4200 0 2279 0 33000 0 43306 0 510810 0 0 0 DAVID SAMPSON VP/CHIEF PUBLISHING OFFICER, NEJM GR 406834 0 200 0 22893 0 33000 0 39109 0 502036 0 0 0 THERESA E SCIARAPPA SENIOR VP, COO 439330 0 1700 0 2335 0 32162 0 26132 0 501659 0 0 0 JEFFREY M DRAZEN MD EDITOR (CURRENT); FORMER E 387614 0 2200 0 25925 0 43011 0 27678 0 486428 0 0 0 DAN L LONGO MD DEPUTY EDITOR 406180 0 3200 0 5108 0 33000 0 41 0 447529 0 0 0 PAUL SHANNON VICE PRESIDENT, FINANCE 303378 0 350 0 17470 0 32363 0 26632 0 380193 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 4 UNDER AN INITIATIVE DESIGNED TO IMPROVE THE EFFECTIVENESS OF THE BOARD OF TRUSTEES ("BOT"), THE MASSACHUSETTS MEDICAL SOCIETY CHANGED ITS BYLAWS IN FY2024 AND FY2025 TO UPDATE THE COMPOSITION OF THE BOT VOTING MEMBERS AND OFFICERS. IN THE FY2024 BYLAWS (UPDATED MAY 2023), THE POSITION OF SPEAKER BECAME A VOTING TRUSTEE, WHILE IN PREVIOUS YEARS IT WAS A NONVOTING TRUSTEE. THE POSITION OF VICE SPEAKER WAS REMOVED FROM THE BOT. IN ADDITION, IN FY2024, THE PRESIDENT OF THE MASSACHUSETTS MEDICAL SOCIETY ALLIANCE IS NO LONGER A TRUSTEE. THE BYLAWS ALSO ADDED A NON-PHYSICIAN MEMBER TRUSTEE TO BE FILLED BEGINNING IN FY2025. ALTERNATE TRUSTEES WERE REMOVED FROM THE BOT, WITH THE EXCEPTION OF THE ALTERNATE MEDICAL STUDENT AND RESIDENT TRUSTEES, WHICH WERE RENAMED AS SECONDARY TRUSTEES. FINALLY, THE QUORUM REQUIREMENT WAS CHANGED FROM 20 MEMBERS OF THE BOT, TO A MAJORITY OF VOTING MEMBERS OF THE BOT. IN FY2025 BYLAWS (UPDATED MAY 2024), THE ROLE OF IMMEDIATE PAST PRESIDENT IS NOW AN OFFICER OF THE CORPORATION, AND IT CONTINUES TO BE A VOTING TRUSTEE. THE POSITIONS OF VICE PRESIDENT AND ASSISTANT SECRETARY TREASURER WERE ELIMINATED AS OFFICERS AND TRUSTEES. THE SECRETARY-TREASURER NOW SERVES AS THE CHAIR OF THE COMMITTEE ON FINANCE, AND AS SUCH, THERE IS NO LONGER A SEPARATE POSITION ON THE BOARD FOR THE CHAIR OF THE COMMITTEE ON FINANCE. FORM 990, PART VI, SECTION A, LINE 6 DISTRICT SOCIETY MEMBERS ELECT ONE OF THEIR MEMBERS TO SERVE ON THE BOARD OF TRUSTEES AS A TRUSTEE WITH FULL VOTING RIGHTS. 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 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. 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 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. 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 -638,530. CHANGE IN UNREALIZED GAIN ON DERIVATIVE INSTRUMENT -15,052. MMS WINTER STREET LLC 860 WINTER STREET WALTHAM MA 024511411 043384431 PROPERTY DE 0 27154648 MASSACHUSETTS MEDICAL SOCIETY MMS LOT 2 LLC 860 WINTER STREET WALTHAM MA 024511411 043500736 PROPERTY DE 0 10535443 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 2139533 4598409 1.00000 1 1 1 0 1 0 1 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 201881 COST ALLOCATION PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC Q 67221 COST ALLOCATION PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC F 2000000 COST MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND D 4509000 PROMISSORY NOTE MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND A 108395 PROMISSORY NOTE PHYSICIAN HEALTH SERVICES INC A 54600 LEASE PHYSICIAN HEALTH SERVICES INC B 409000 COST PHYSICIAN HEALTH SERVICES INC Q 159504 COST ALLOCATION PHYSICIAN HEALTH SERVICES INC L 65233 COST ALLOCATION MASSACHUSETTS MEDICAL SOCIETY AND ALLIANCE CHARITABLE FOUNDATION B 100000 COST MASSACHUSETTS MEDICAL SOCIETY AND ALLIANCE CHARITABLE FOUNDATION L 127896 COST ALLOCATION