2013-04-12T15:16:20-05:00 2012-05-31 263753134 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2011-06-01 042050773 MASSACHUSETTS MEDICAL SOCIETY MASS 7818934610 860 WINTER STREET WALTHAM MA 024511411 CORINNE BRODERICK 7818934610 2013-04-11 1 CRAIG KLEIN P00734640 6177610600 2011 2016-02-25 16:41:14Z SAME AS ABOVE CORINNE BRODERICK 860 WINTER STREET WALTHAM MA 024511411 194487880 0 9253 X WWW.MASSMED.ORG X 1781 MA THE PURPOSE OF THE MASSACHUSETTS MEDICAL SOCIETY SHALL BE TO DO ALL THINGS AS MAY BE NECESSARY AND APPROPRIATE 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 THE COMMONWEALTH. 30 23 422 0 21795233 -3504510 0 0 76929587 84747165 13210144 8942677 28805565 24848524 118945296 118538366 1468743 1181978 0 0 46451625 49793546 0 0 0 51403194 55967936 99323562 106943460 19621734 11594906 255147372 248779761 116579592 130761313 138567780 118018448 X THE PURPOSE OF THE MASSACHUSETTS MEDICAL SOCIETY SHALL BE TO DO ALL THINGS AS MAY BE NECESSARY AND APPROPRIATE 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 THE COMMONWEALTH. 0 0 PUBLISHING:THE NEW ENGLAND JOURNAL OF MEDICINE RELEASED THE DOCUMENTARY FILM, GETTING BETTER: 200 YEARS OF MEDICINE, A THREE PART 45 MINUTE DOCUMENTARY THAT EXPLORES THE EVOLUTION OF KNOWLEDGE IN MEDICINE AND SOME OF THE REMARKABLE ADVANCES REPORTED IN NEJM. THE NEJM IPAD EDITION WAS UNVEILED WHICH COMBINES ALL PRINT NEJM CONTENT WITH AUDIO SHARE, SEARCH AND NOTATION FEATURES IN AN INTEGRATED EASY-TO-NAVIGATE FORMAT.THE NEJM 200TH ANNIVERSARY SYMPOSIUM, 'DIALOGUES IN MEDICINE: PHYSICIANS AND PATIENTS ON 200 YEARS OF PROGRESS' WAS CONDUCTED AT HARVARD MEDICAL SCHOOL. CONTINUED PUBLICATIONS OF THE NEW ENGLAND MEDICINE AND RELATED PUBLICATIONS IN BOTH PRINT AND ELECTRONIC FORMAT, BOTH DOMESTICALLY AND INTERNATIONALLY.1.8 MILLION NEJM.ORG REGISTERED USERS, 327,000 NEJM FACEBOOK FRIENDS AND 79,000 TWITTER FOLLOWERS. EDUCATIONAL:THE SOCIETY HAS SO FAR ACCREDITED MORE THAN 50 HOSPITALS AND SPECIALTY SOCIETIES PROVIDING CME IN MASSACHUSETTS AND CONTIGUOUS STATES. THERE HAVE BEEN 1,000 LIVE, WEBINAR, ONLINE, ENDURING MATERIAL AND JOURNAL BASED CONTINUING MEDICAL EDUCATION (CME) ACTIVITIES OFFERED, WITH 150,000 PLUS PHYSICIAN PARTICIPANTS FROM ALL OVER THE UNITED STATES.IN 2012 NEW COURSES WERE OFFERED ON TOPICS INCLUDING ELECTRONIC MEDICAL RECORDS, UNINTENDED CONSEQUENCES OF DNRS, DISCUSSING END-OF-LIFE CARE WITH PATIENTS, PREVENTING PRESCRIPTION DRUG ABUSE AND ADVANCE DIRECTIVES.IN JOINT SPONSORSHIP WITH THE ANSWERPAGE.COM, OFFERED SOCRATIC-STYLE QUESTION AND ANSWER CONTENT IN PAIN MEDICINE, OPIOID PRESCRIBING, PALLIATIVE CARE, RISK MANAGEMENT, HOSPITAL MEDICINE, PERIOPERATIVE MEDICINE, ANESTHESIOLOGY AND CLINICAL STATISTICS. MEMBERSHIP:2012 BROUGHT MEMBERSHIP TOTALS TO 24,074 THE HIGHEST NUMBER EVER RECORDED. RATES OF NEW MEMBERS UNDER 40 YEARS OF AGE ROSE BY 7.4 PERCENT. FEMALE PHYSICIAN MEMBERSHIP GREW BY 6.3 PERCENT. MASSACHUSETTS PHYSICIAN MEMBERSHIP WAS UP NEARLY 5 PERCENT AND IN STATE AMA PHYSICIANS ROSE 13.3 PERCENT.MMS CHAMPIONED THE DISCLOSURE, APOLOGY AND OFFER APPROACH TO MEDICAL MALPRACTICE CASES IN THE COMMONWEALTH. MMS SUCCESSFULLY INFLUENCED THE OUTCOME OF DEBATE ON A BILL EXPANDING THE STATE'S PRESCRIPTION MONITORING PROGRAM DATABASE. THE SOCIETY CONTINUED TO BE ACTIVELY INVOLVED IN SUPPORTING AND IMPLEMENTING THE 2010 PATIENT PROTECTION AND AFFORDABLE CARE ACT. THE SOCIETY WAS ALSO ACTIVELY INVOLVED IN A PROPOSAL TO REPEAL THE FLAWED SGR (SUSTAINED GROWTH RATE) FORMULA AS WELL AS ADVOCACY ON MEDICARE AND GEOGRAPHIC VARIATIONS AS APPLIES TO MEDICARE PHYSICIAN PAYMENT FORMULA. 0 0 0 1 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 0 0 0 0 1 1 1 1 0 1 323 0 1 422 1 1 1 1 UK CA NL 0 0 1 1 0 X 30 23 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X JOHN W BURNS 7814347516 MASSACHUSETTS MEDICAL SOCIETY 860 WALTHAM MA 02451 ALICE A COOMBS MD 0.30 X 72917 0 0 LYNDA M YOUNG MD 20.00 X X 116833 0 16500 JESSE M EHRENFELD MD 3.00 X X 12500 0 0 PETER B KANG MD 4.00 X X 12500 0 0 RICHARD S PIETERS MD 3.00 X X 25000 0 0 DEANNA P RICKER MD 12.00 X X 8500 0 16500 BRUCE S AUERBACH MD 0.30 X 0 0 0 RONALD W DUNLAP MD 12.00 X X 29167 0 0 JAMES S GESSENER MD 0.30 X 0 0 0 MARIA HAN MD 0.30 X 0 0 0 RICHARD V AGHABABIAN MD 12.00 X X 48108 0 16500 JAMES B BROADHURST MD 0.30 X 0 0 0 HUBERT L CAPLAN MD 0.30 X 0 0 0 WILLIAM F DOYLE MD 0.30 X 0 0 0 HEIDI J FOLEY MD 0.30 X 0 0 0 EDITH M JOLIN MD 0.30 X 0 0 0 ANNA A MANATIS MD 0.30 X 0 0 0 JAMES R RALPH MD 0.30 X 0 0 0 ALAIN A CHAOUI MD 0.30 X 0 0 0 SARAH A KEMBLE MD 0.30 X 0 0 0 REBECCA L JOHNSON MD 0.30 X 0 0 0 JUDD L KLINE MD 0.30 X 0 0 0 STUART B MUSHLIN MD 0.30 X 0 0 0 ROBIN S RICHMAN MD 0.30 X 0 0 0 PURNIMA R SANGAI MD 0.30 X 0 0 0 MARK M SHERMAN MD 0.30 X 0 0 0 CHARLES A WELCH MD 0.30 X 0 0 0 GEORGE ABRAHAM MD 0.30 X 0 0 0 JOSEPH C BERGERON MD 0.30 X 0 0 0 MARYANNE C BOMBAUGH MD 0.30 X 0 0 0 WILLIAM A COOK MD 0.30 X 0 0 0 DANIEL M FRENDL 0.30 X 0 0 0 CYRUS C HOPKINS MD 0.30 X 0 0 0 BARRY STEINBERG MD 0.30 X 0 0 0 ALAN C WOODWARD MD 0.30 X 0 0 0 CAROLE E ALLEN MD 0.30 X 0 0 0 MARK A BIGDA DO 0.30 X 0 0 0 SVEND W BRUUN JR MD 0.30 X 0 0 0 JULIA F EDELMAN MD 0.30 X 0 0 0 MATTHEW D SCHMITZ MD 0.30 X 0 0 0 JAMES FX KENEALY MD 0.30 X 0 0 0 GLADYS C CHAN MD 0.30 X 0 0 0 THOMAS A LAMATTINA MD 0.30 X 0 0 0 BENJAMIN D SCHANKER 0.30 X 0 0 0 JOHN J WALSH MD 0.30 X 0 0 0 CLAUDIA L KOPPELMAN MD 0.30 X 0 0 0 DAVID S ADELSTEIN III DO 0.30 X 0 0 0 B HOAGLAND ROSANIA MD 0.30 X 0 0 0 ROBERT HERTZIG MD 0.30 X 0 0 0 SAMIR K PATEL MD 0.30 X 0 0 0 NASIR A KHAN MD 0.30 X 0 0 0 KEITH C NOBIL MD 0.30 X 0 0 0 FRANCIS X ROCKETT MD 0.30 X 0 0 0 VINCENT J RUSSO MD 0.30 X 0 0 0 CORINNE BRODERICK 50.00 X 458876 0 65295 JOHN W BURNS 50.00 X 278112 0 45768 CHRISTOPHER R LYNCH 50.00 X 394357 0 63322 JEFFERY M DRAZEN MD 50.00 X 541427 0 64381 CHARLES T ALAGERO 50.00 X 285172 0 44400 THEODORE J BLIZZARD 50.00 X 290475 0 57298 EDWARD D CAMPION 50.00 X 300141 0 59660 GREGORY D CURFMAN MD 50.00 X 369323 0 59886 ARTHUR P WILSCHEK 50.00 X 299767 0 54352 3543175 0 563862 83 0 1 0 COLLABORATIVE CONSULTING LLC 70 BLANCHARD RD STE 500 BURLINGTON MA 01803 INFORMATION TECHNOLOGY 1530085 ERNST & YOUNG LLP 200 PLAZA DR SECAUCUS NJ 07094 ACCOUNTING SYSTEMS 372175 DELOITTE TAX LLP PO BOX 2079 CAROL STREAM IL 601322079 TAX CONSULTING 337358 PRICEWATERHOUSECOOPERS PO BOX 7247-8001 PHILADELPHIA PA 191708001 ACCOUNTING/AUDIT 244760 JOHN K INGLEHART 10200 ADDISON CT BETHESDA MD 20817 EDITORIAL 151500 8 PUBLISHING 511120 79545892 79545892 EDUCATIONAL FEES 611710 3704198 3704198 MEMBERSHIP DUES 900099 1497075 1497075 84747165 4085645 4085645 2179011 2179011 874280 0 874280 874280 874280 80806546 75949514 4857032 4857032 4857032 ADVERTISING 541800 19343832 19343832 BUSINESS SERVICES 561000 2007851 2007851 FORMS AND OTHER INCOME 323100 182344 182344 261206 261206 21795233 118538366 84747165 21795233 11995968 1096978 85000 2819233 32225371 4939616 7188754 2620572 107617 220000 97000 902778 8706218 19605 2366192 2064605 7273693 1524700 1305538 3872200 492061 PUBLISHING - OTHER PROD 14195698 PUBLISHING - MARKETING/ 6822163 CONFERENCING 2618893 PUBLISHING - EDITORIAL 1319508 2059467 106943460 4438585 3177757 5665770 7300111 11002188 9560468 5542250 5369000 906661 559332 2751813 2791059 98926041 46807143 53925918 52118898 169236122 166182737 25000 25000 1653065 1695399 255147372 248779761 9449719 9278094 36073700 35755417 36925778 33758790 34130395 51969012 116579592 130761313 X 138567780 118018448 138567780 118018448 255147372 248779761 X 11594906 -32144238 X 0 1 1 X 0 0 0 0 2404046 622286 622286 841416 -219130 135398163 1618575 -5644840 131371898 107509330 2347222 25541611 135398163 95784252 11725078 107509330 125946879 3155 -30165782 95784252 1.00000 0 0 16788125 16788125 37902825 15970688 21932137 2524823 1771239 753584 15761575 14446581 1314994 25948693 14618635 11330058 52118898 DEFERRED COMPENSATION 556259 UNFUNDED PENSION LIABILITY 48535070 DEFERRED TAX LIABILITY 382269 DERIVATIVE INSTRUMENT LIABILITY 2495414 51969012 118538366 106943460 11594906 -15108202 -17036036 -32144238 -20549332 102527386 -15108202 -15108202 117635588 902778 902778 118538366 107104591 1063909 1063909 106040682 902778 902778 106943460 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: BOARD DESIGNATED TO ENSURE THE LONG TERM FINANCIAL HEALTH OF THE SOCIETY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SOCIETY FOLLOWS THE ACCOUNTING PRINCIPLES RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THAT PROVIDES CRITERIA FOR THE RECOGNITION, MEASUREMENT, PRESENTATION, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. A TAX BENEFIT FROM SUCH UNCERTAIN TAX POSITIONS MAY BE RECOGNIZED ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE POSITION IS SUSTAINABLE BASED ON TECHNICAL MERITS. BASED ON ITS ANALYSIS AND REVIEW OF ALL OPEN TAX YEARS (FISCAL 2010 THROUGH 2011), AND THE CURRENT YEAR TO BE FILED, THE SOCIETY DETERMINED THAT THE APPLICATION OF THIS GUIDANCE DOES NOT HAVE A MATERIAL IMPACT ON THE SOCIETY'S FINANCIAL POSITION, RESULTS OF OPERATIONS, OR CASH FLOWS. PART XI, LINE 8 - OTHER ADJUSTMENTS: PENSION LIABILITY ADJUSTMENT -15,972,127. UNREALIZED LOSS ON DERIVATIVE INSTRUMENT -1,063,909. TOTAL TO SCHEDULE D, PART XI, LINE 8: -17,036,036. PART XIII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED DERIVATIVE INSTRUMENT LOSS 1,063,909. EUROPE (INCLUDING ICELAND & GREENLAND) UNRELATED BUSINESS 3184460 EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICE SUBSCRIPTION SALES EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICE BULK REPRINT SALES EAST ASIA AND THE PACIFIC UNRELATED BUSINESS 1035363 EAST ASIA AND THE PACIFIC PROGRAM SERVICE SUBSCRIPTION SALES EAST ASIA AND THE PACIFIC PROGRAM SERVICE BULK REPRINT SALES NORTH AMERICA UNRELATED BUSINESS 1182324 NORTH AMERICA PROGRAM SERVICE SUBSCRIPTION SALES NORTH AMERICA PROGRAM SERVICE BULK REPRINT SALES 0 0 0 0 0 0 5402147 0 5402147 0 0 0 0 0 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: ACCOUNTING METHOD: ACCRUAL BASIS. 1 MMS & ALLIANCE CHARITABLE FOUNDATION 860 WINTER ST WALTHAM MA 024511411 223199624 501(C)(3) 185500 NOT APPLICABLE NOT APPLICABLE COMMUNITY ACTION PHYSICIAN HEALTH SERVICES 860 WINTER ST WALTHAM MA 024511411 223234975 501(C)(3) 498000 NOT APPLICABLE NOT APPLICABLE ABUSE TREATMENT MASS MEDICAL BENEVOLENT SOC 860 WINTER ST WALTHAM MA 024511411 237089741 501(C)(3) 50000 NOT APPLICABLE NOT APPLICABLE FINANCIAL RELIEF MASS MEDICAL SOCIETY ALLIANCE 860 WINTER ST WALTHAM MA 024511411 237055291 501(C)(6) 25000 NOT APPLICABLE NOT APPLICABLE HEALTH EDUCATION AMA FOUNDATION 9050 PAYSHPERE CR CHICAGO IL 60674 366080517 501(C)(3) 14000 NOT APPLICABLE NOT APPLICABLE MEDICAL EDUCATION BETH ISRAEL DEACONESS MED CTR 330 BROOKLINE AV BOSTON MA 02215 042103881 501(C)(3) 200000 NOT APPLICABLE NOT APPLICABLE MEDICAL LIABILITY 5 6 MEDICAL STUDENT GRANTS 8 80000 NOT APPLICABLE NOT APPLICABLE PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: AMOUNTS LISTED IN PART II ARE GENERAL UNRESTRICTED CONTRIBUTIONS AND NOT GRANTS. AMOUNTS QUALIFYING AS GRANTS ARE REPORTED IN PART III OF SCHEDULE I. THE FOLLOWING PROCESS APPLIES TO MEDICAL STUDENT GRANTS: STUDENTS MUST BE 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. X X X X X X 0 0 0 CORINNE BRODERICK 401322 0 41054 0 16500 0 35443 0 29852 0 524171 0 0 0 JOHN W BURNS 225603 0 36009 0 16500 0 24005 0 21763 0 323880 0 0 0 CHRISTOPHER R LYNCH 328607 0 65750 0 0 0 30352 0 32970 0 457679 0 0 0 JEFFERY M DRAZEN MD 476823 0 48104 0 16500 0 40724 0 23657 0 605808 0 0 0 CHARLES T ALAGERO 247964 0 37208 0 0 0 17357 0 27043 0 329572 0 0 0 THEODORE J BLIZZARD 252085 0 38390 0 0 0 24402 0 32896 0 347773 0 0 0 EDWARD D CAMPION 293991 0 6150 0 0 0 27929 0 31731 0 359801 0 0 0 GREGORY D CURFMAN MD 342923 0 9900 0 16500 0 31355 0 28531 0 429209 0 0 0 ARTHUR P WILSCHEK 189622 0 104145 0 6000 0 20624 0 33728 0 354119 0 0 0 VANESSA P KENEALY SEE BELOW 35448 SEE BELOW 0 PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC SEE BELOW 701063 SEE BELOW 0 PART IV, COLUMN (B): VENESSA P. KENEALY IS A FAMILY MEMBER OF JAMES KENEALY, M.D., TRUSTEE.PHYSICIAN'S INSURANCE AGENCY OF MA IS A FOR PROFIT SUBSIDIARY OF THE MASSACHUSETTS MEDICAL SOCIETY. PART IV, COLUMN (D): VENESSA P. KENEALY: PAYMENT FOR INDEPENDENT CONTRACTOR SERVICESPHYSICIAN'S INSURANCE AGENCY OF MA: RECEIPT OF RENT AND REIMBURSED EXPENSES FORM 990, PART VI, SECTION A, LINE 2 SPEAKER, RICHARD PIETERS, M.D. IS MARRIED TO MMS TRUSTEE, EDITH JOLIN, M.D. MMS TRUSTEE, BRUCE AUERBACH, M.D. IS MARRIED TO MMS TRUSTEE, ROBIN S. RICHMAN, M.D. MMS TRUSTEES, DRS. DEANNA RICKER, RONALD DUNLAP, MARYANNE BOMBAUGH AND BRUCE AUERBACH SERVE ON THE BOARD OF CONVERYS. MMS TRUSTEES, GLADYS CHAN AND ALAN WOODWARD, M.D. SERVE ON THE BOARD OF MMS AND ALLIANCE CHARITABLE FOUNDATION. MMS TRUSTEE, JUDD KLINE, M.D. AND ALTERNATE TRUSTEE, SVEND BRUUN, M.D. HAVE A BUSINESS RELATIONSHIP WITH OFFICER, JOHN BURNS AS DIRECTORS OF PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS. FORM 990, PART VI, SECTION A, LINE 6 DISTRICT SOCIETY MEMBERS ELECT TWO OF THEIR MEMBERS TO SERVE AS TRUSTEE AND ALTERNATE, RESPECTIVELY, OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A DISTRICT SOCIETY MEMBERS ELECT TWO OF THEIR NUMBERS TO SERVE AS TRUSTEE AND ALTERNATE, RESPECTIVELY, OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE HOUSE OF DELEGATE MEMBERS MAY OVERRIDE BOARD OF TRUSTEE ACTION ON PRIORITIZATION OF FUNDING A HOUSE DIRECTIVE WITH A TWO-THIRDS VOTE OF THE DELEGATES. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 AND ALL RELATED SCHEDULES ARE REVIEWED BY THE SOCIETY'S TAX ADVISORS AT CBIZ TOFIAS. 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 RESPONSIBILITIES OF NON-PROFIT ORGANIZATIONS. AN ADDITIONAL SLIDE PRESENTATION IS THEN PRESENTED TO THE SOCIETYS BOARD OF TRUSTEES PRIOR TO ITS FORM 990 FILING. A COMPLETE COPY OF FORM 990 AND ALL RELATED SCHEDULES AS FILED WITH THE INTERNAL REVENUE SERVICE IS PROVIDED TO THE MEMBERS OF THE BOARD OF TRUSTEES IN ELECTRONIC FORM IN A SECURED SECTION OF THE SOCIETY'S WEBSITE PRIOR TO FILING. BOARD OF TRUSTEE MEMBERS ARE NOTIFIED OF THIS POSTING BY E-MAIL AND PROVIDED A LINK TO THE SECURED SITE PRIOR TO FILING OF THE FORM. FORM 990, PART VI, SECTION B, LINE 12C THE SOCIETYS 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 (AT THE TIME OF THEIR ANNUAL REVIEW) 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 SOCIETYS EXECUTIVE VICE PRESIDENT MUST REPORT IN HER ANNUAL REPORT ON OVERALL BOARD OF TRUSTEE CONFLICT OF INTEREST COMPLIANCE RATES. 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 SOCIETYS EXECUTIVE VICE PRESIDENT. EXECUTIVE VICE PRESIDENT CONFLICTS ARE ADDRESSED THROUGH THE SOCIETYS 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 THE FOLLOWING OFFICE/POSITION COMPENSATION WAS BASED ON REVIEW AND APPROVAL BY THE GOVERNING BODY AND COMPENSATION COMMITTEE, USE OF DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED POSITIONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS AND WITH CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION AGREEMENT: EXECUTIVE VICE PRESIDENT VICE PRESIDENT OF FINANCE VICE PRESIDENT OF PUBLISHING EDITOR-IN-CHIEF OFFICERS APRIL 2012 IS THE LAST DATE FOR WHICH COMPENSATION REVIEWS WERE CONDUCTED FOR THE EXECUTIVE VICE PRESIDENT, VICE PRESIDENT OF FINANCE, VICE PRESIDENT OF PUBLISHING, AND EDITOR-IN-CHIEF POSITIONS. FEBRUARY 2012 IS THE LAST DATE FOR WHICH HONORARIA REVIEWS WERE CONDUCTED FOR OFFICER POSITIONS. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -15,108,202. PENSION LIABILITY ADJUSTMENT -15,972,127. UNREALIZED LOSS ON DERIVATIVE INSTRUMENT -1,063,909. TOTAL TO FORM 990, PART XI, LINE 5: -32,144,238. MMS WINTER STREET LLC 860 WINTER STREET WALTHAM MA 024511411 043384431 PROPERTY DE 5000000 39543739 N/A MMS LOT 2 LLC 860 WINTER STREET WALTHAM MA 024511411 043500736 PROPERTY DE 784956 11663379 N/A MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND 860 WINTER STREET WALTHAM MA 024511411 046075905 MEDICAL STUDENT LOANS MA 501(C)(3) 11, TYPE I N/A 1 PHYSICIAN HEALTH SERVICES INC 860 WINTER STREET WALTHAM MA 024511411 223234975 OUTREACH SERVICES MA 501(C)(3) 11, TYPE I N/A 1 MASSACHUSETTS MEDICAL SOCIETY & ALLIANCE CHARITABLE FOUNDATION 860 WINTER STREET WALTHAM MA 024511411 223199614 GRANTMAKING MA 501(C)(3) 11, TYPE I N/A 1 PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC 860 WINTER STREET WALTHAM MA 024511411 043135954 INSURANCE MA N/A C 2593546 3611587 1.00000 1 1 0 1 0 0 0 0 1 0 1 0 1 1 0 1 1 1 PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC A 89324 FAIR MARKET VALUE PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC N 180989 COST PHYSICIAN'S INSURANCE AGENCY OF MASSACHUSETTS INC P 430750 COST MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND A 137258 PROMISSORY NOTE MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND D 5426985 PROMISSORY NOTE MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND Q 400000 PROMISSORY NOTE MASSACHUSETTS MEDICAL SOCIETY CHARITABLE AND EDUCATIONAL FUND R 573250 FAIR MARKET VALUE PHYSICIAN HEALTH SERVICES INC P 167264 COST PHYSICIAN HEALTH SERVICES INC B 498000 FAIR MARKET VALUE MASSACHUSETTS MEDICAL SOCIETY AND ALLIANCE CHARITABLE FOUNDATION B 187972 FAIR MARKET VALUE