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Aaem Foundation INC FY2022 filing

Tax-deductible

Milwaukee, WI501(c)(3)Foundations & Grantmakers EIN 20-2080841Revenue $181K in FY2022

On file with the IRSaaem.org/about-aaem/aaem-foundation555 E Wells St Ste 1100, 53202-3800 · Milwaukee, WITax-exempt since Jul 2005Supporting organization — 509(a)(3)

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The Aaem Foundation is a 501(c)(3) non profit organization established to enforce cpom laws and protect the rights of physicians against corporations that violate cpom laws.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $27K a year · 10% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Plus $416K in investments, Pt X · Ln 11–13
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$40K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$181K
+190% vs prior year
Spent
$267K
To programs
96%
Net assets
$449K
By yearFY2020–FY2024
Revenue
$181K
FY2022▲ +190%
Tap a bar for its year
Revenue by fiscal year
FY2020$42K
FY2021$62K
FY2022$181K
FY2023$268K
FY2024$800K
Expenses
$267K
FY2022▲ +93%
Tap a bar for its year
Expenses by fiscal year
FY2020$25K
FY2021$139K
FY2022$267K
FY2023$633K
FY2024$425K
Net assets
$449K
FY2022▼ -36%
Tap a bar for its year
Net assets by fiscal year
FY2020$670K
FY2021$702K
FY2022$449K
FY2023$20K
FY2024$395K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $255K Management & general 4% · $12K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Robert Frolichstein MD
President-Elect
$0Pt VII · Sec A
Le Gomez MD, MBA
Secretary-Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
William Durkin JR MD MBA Maaem
Past President's Council R
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Aaem Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Enforces physician rights against corporations violating CPOM laws.

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Provided by the organization

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1 program · $255K · in their own filed words · FY2022
01

The aaem fountation supported those who are (1) studying and providing education relating to the access and availability of emergency medical care, and (2) defending the rights of patients to receive such care, and emergency physicians to provide such care.

$255Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Jcl Anderson Family FoundationFY2024$1K
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$181K
Ln 12
Gifts and grantsLn 1h$124K
Investment incomeLn 3$57K
Money outPt IX
$267K
Ln 25
Programscol B$255K
Managementcol C$12K
Owns and owesPt X
$449K
net assets · Ln 32
Cash and savingsLn 1–2$58K
Total assetsLn 16$488K
LiabilitiesLn 26$40K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$124K
Investment incomeLn 3$57K
Gains on assetsLn 7$48K
Total revenueLn 12$181K
Assets in detailPt X, end of year
CashLn 1$58K
SavingsLn 2$0
Cash and savings togetherLn 1–2$58K
InvestmentsLn 11–13$416K
Total assetsLn 16$488K
LiabilitiesLn 26$40K
Net assetsLn 32$449K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$19K$58K
InvestmentsLn 11–13$677K$416K
Total assetsLn 16$721K$488K
LiabilitiesLn 26$18K$40K
Net assetsLn 32$702K$449K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$266K$255K$11K
Office expensesLn 13$251$123$128
InsuranceLn 23$1K$1K
Total functional expensesLn 25$267K$255K$12K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $800K$425K$375K$395K 990 PDF
FY2023 $268K$633K−$365K$20K 990 PDF
FY2022 Viewing $181K$267K−$87K$449K 990 PDF
FY2021 $62K$139K−$76K$702K 990 PDF
FY2020 $42K$25K$17K$670K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $180,578 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $53,381$124,072
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $8,977$56,506
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $62,358$180,578
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $138,742$267,189
I-18 Total expensesPrior year $138,742$267,189
I-19 Revenue less expensesPrior year −$76,384−$86,611
Part VI · Governance 14 of 14 board members independent, 1 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $180,578 across 5 lines filed
VIII-1f All other contributions, gifts and grants$124,072
VIII-1h Total contributions, gifts and grants$124,072
VIII-3 Investment incomeExcluded from tax $8,282$8,282
VIII-7 Net gain or loss on sales of assetsExcluded from tax $48,224$48,224
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $56,506$180,578
Part IX · Statement of functional expenses $267,189 across 3 lines filed
IX-11b Legal feesPrograms $255,202 · Management $10,633$265,835
IX-13 Office expensesPrograms $123 · Management $128$251
IX-23 InsuranceManagement $1,103$1,103
IX-25 Total functional expensesPrograms $255,325 · Management $11,864 · Fundraising $0$267,189
Part X · Balance sheet $488,266 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $19,449$58,013
X-2 Savings and temporary cash investmentsStart of year $1$0
X-4 Accounts receivableStart of year $23,183$12,956
X-9 Prepaid expenses and deferred chargesStart of year $912$958
X-11 Publicly traded securitiesStart of year $677,001$416,339
X-16 Total assetsStart of year $720,546$488,266
X-17 Accounts payable and accrued expensesStart of year $18,131$39,631
X-26 Total liabilitiesStart of year $18,131$39,631
X-27 Net assets without donor restrictionsStart of year $702,415$448,635
X-32 Total net assets or fund balancesStart of year $702,415$448,635
X-33 Total liabilities and net assetsStart of year $720,546$488,266
Part XI · Reconciliation of net assets $448,635 net assets at year end
XI-1 Total revenue$180,578
XI-2 Total expenses$267,189
XI-3 Revenue less expenses−$86,611
XI-4 Net assets at start of year$702,415
XI-5 Net unrealized gains (losses) on investments−$167,169
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$448,635

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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