Physicians Benevolent Fund EIN 74-6050660

Physicians Benevolent Fund

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Invests funds and property to support medical research and aid needy Texans. For fiscal year 2024 it reported $485K in revenue, $543K in expenses, and $5.4M in net assets.Pt I

Type
Public charity (501(c)(3)) · Health Care
Location
Austin, TX
Website
www.texmed.org
Filings
5 on file (2020–2024)
Revenue
$485KFY2024
Expenses
$543K
Net assets
$5.4M
People
26
Filings
5
Updates
0
More identity details & actions ⌄
EIN  74-6050660 Public charity (501(c)(3)) Austin, TX
Form 990 (PDF)
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Size
$100K–1M
What they do
Invests funds and property to support medical research and aid needy Texans.
Leadership
G Ray Callas MD · Pres(24-25)/Pres-Elect(23-24)
Money in and out
$485K revenue, $543K expenses
Bottom line
63% program efficiency
Where the money goes · FY2024
Total revenue
$485K
Pt VIII · Ln 12
Total expenses
$543K
Pt IX · Ln 25
Net assets
$5.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$58K
Where spending went · Part IX cols B–D
Program services $0.63 Management & general $0.36 Fundraising $0.01
Program efficiency
63%
of spending reaches programs+0.4% vs prior filing year
Operating runway
119.2mo
months of highly liquid reserves at operating expense rate▲ +10% vs prior filing year
Surplus margin
-12%
revenue over expenses, this year▼ -371% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$485K
FY2024▼ -13%
Expenses
$543K
FY2024▼ -5%
Total assets
$5.4M
FY2024▲ +4%
Total liabilities
$0
FY2024▼ -100%
Total revenue
$485K
Pt VIII · Ln 12
Total expenses
$543K
Pt IX · Ln 25
Net assets
$5.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$58K
Total assetsPt X · Ln 16$5.4M
Program-expense ratioPt IX · col B63%
Voting members of governing bodyPt I · Ln 318
Independent voting membersPt I · Ln 418
Mission & Programs · Part III

Where the work happens

2 program services account for $343K of program spending, described in the organization's own filed words · FY2024.
01

Assist indigent or destitute physicians or their families. In 2024, $86,444 was paid TO/FOR 6 participants.

$191Kprogram expense
02

Provide health wellness education and services to physicians.

$152Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPhysicians Benevolent Fund
EINHdr · item D74-6050660
Principal addressHdr · item CAustin, TX
WebsiteHdr · item Jwww.texmed.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E00J)
Ruling yearIRS BMFOct 1964

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a18
Independent voting membersPt VI · Ln 1b18
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Pres(24-25)/Pres-Elect(23-24)
$0Pt VII · Sec A
Pres(23-24)/Immed Past Pres(24-25)
$0Pt VII · Sec A
Immed Past Pres(23-24)
$0Pt VII · Sec A
Pres-Elect(24-25)/Secretary(23-24)
$0Pt VII · Sec A
Chair (24-25)/Vice Chair (23-24)
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Speaker of the House
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Investment income$308K · 64%
Contributions & grants$160K · 33%
Program service revenue$17K · 3%
Investment income64%$308K
Contributions & grants33%$160K
Program service revenue3%$17K
Total revenueLn 12$485K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.63 Management & general $0.36 Fundraising $0.01
Program services63%$343K
Management & general36%$193K
Fundraising1%$7K
Total functional expensesLn 25$543K

Balance Sheet

Part X · end of year
CashLn 1$233K
Total assetsLn 16$5.4M
Total liabilitiesLn 26$0
Total net assetsLn 32$5.4M
Months of cash on handcomputed5.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.4M · Operating expenses/yr $543K
119.2 months
Where the money goes
Program services
Program services $343K · Total expenses $543K
63%
Management & General
Management & general $193K · Total expenses $543K
36%
Fundraising
Fundraising $7K · Total expenses $543K
1%
Cost to raise $1
Fundraising expense (3-yr avg) $4K · Solicited contributions (3-yr avg) $173K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $160K · Total revenue $485K
33%
Government reliance
Government grants — · Total revenue $485K
Earned-income share
Program service revenue $17K · Total revenue $485K
3%
Investment reliance
Investment income $308K · Total revenue $485K
+64%
Program self-sufficiency
Program service revenue $17K · Total expenses $543K
3%
Growth & trend
Revenue growth (YoY)
This year $485K · Prior year $560K
-13%
Revenue CAGR
FY2020 $315K · FY2024 $485K
+11%
Net-asset trend (YoY)
End of year $5.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $485K · Expenses $543K
-12%
Liabilities-to-Assets
Total liabilities — · Total assets $5.4M
Net-asset ratio
Net assets $5.4M · Total assets $5.4M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $5.2M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.4M
95%
People & payroll
Highest Reported Total Compensation
Individual G Ray Callas MD · Reported title PRES(24-25)/PRES-ELECT(23-24) · Highest reported compensation $0 · Total expenses $543K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $206K · Total expenses $543K
38%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 63%
Overhead ratio 36%
Fundraising cost ratio 4%
Revenue growth -13%
Investment management fee ratio 0.4%
Accounting fee ratio 0.6%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$3K
Grants paid · 5 grants · $474K · 2020–2024
Unitemized GrantFY2024$86,444
Unitemized GrantFY2023$83,648
Unitemized GrantFY2022$85,808
Unitemized GrantFY2021$106,398
Unitemized GrantFY2020$111,701

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$485K revenue · viewing · ⤓ 990 PDF
FY2023$560K revenue · ⤓ 990 PDF
FY2022$362K revenue · ⤓ 990 PDF
FY2021$498K revenue · ⤓ 990 PDF
FY2020$315K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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