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Physicians Benevolent Fund FY2022 filing

Tax-deductible

Austin, TX501(c)(3)Health Care EIN 74-6050660Revenue $362K in FY2022

On file with the IRStexmed.org401 W 15th St Ste 100, 78701-1680 · Austin, TXTax-exempt since Oct 1964Publicly supported — 509(a)(2)

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The purpose for which IT is formed is to receive and hold in trust, safely keep and invest, money and other real and personal property and accumulate revenue and income therefrom, for the use and benefit of charitable, Benevolent, and scientific purposes, included but not limited to (1) the research in the field of geriatrics, (2) the rehabilitation of destitute texas Physicians and their families, (3) the aiding, supporting, maintaining and assisting by gift, donation or otherwise, projects or endeavors, whether incorporated or unincorporated, whose objects or purposes are to give physical aid, comfort, support or assistance to maimed, crippled, aged, sick, infirm, indigent or destitute texas Physicians and their families, or to aid, support, maintain, assist, give or donate to such individuals directly, all for the betterment of mankind, and for purposes incidental thereto.

501(c)(3) charity; gifts are tax-deductible.
58¢ 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
1 of 5
filings with a surplus
Average deficit $54K a year · 12% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
58%
of spending
Worth a look: 58% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Plus $4.6M in investments, Pt X · Ln 11–13
Looks good: 6.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$75K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$362K
-27% vs prior year
Spent
$531K
To programs
58%
Net assets
$4.9M
By yearFY2020–FY2024
Revenue
$362K
FY2022▼ -27%
Tap a bar for its year
Revenue by fiscal year
FY2020$315K
FY2021$498K
FY2022$362K
FY2023$560K
FY2024$485K
Expenses
$531K
FY2022▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2020$401K
FY2021$440K
FY2022$531K
FY2023$574K
FY2024$543K
Net assets
$4.9M
FY2022▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.5M
FY2021$6.0M
FY2022$4.9M
FY2023$5.2M
FY2024$5.4M

From the FY2022 Form 990 · 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 Oct 1964.

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

Where the money goes

58 cents of each dollar spent went to programs.

Program services 58% · $306K Management & general 42% · $222K Fundraising 1% · $3K

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

24 people listed on the 990.

Part VII, Section A · reportable compensation
Gary W Floyd MD
Pres(22-23)/Pres-Elect(21-22)
$0Pt VII · Sec A
E Linda Villarreal MD
Pres(21-22)/Immed Past Pres(22-23)
$0Pt VII · Sec A
Diana L Fite MD
Immed Past Pres(21-22)
$0Pt VII · Sec A
Richard W Snyder II MD
Pres-Elect(22-23)/Chair (21-22)
$0Pt VII · Sec A
Michelle a Berger MD
Secretary/Treasurer
$0Pt VII · Sec A
Bradford W Holland MD
Speaker of the House
$0Pt VII · Sec A
John G Flores MD
Vice Speaker of the House
$0Pt VII · Sec A
G Ray Callas MD
Chair (22-23)/Vice Chair (21-22)
$0Pt VII · Sec A
See Physicians Benevolent Fund 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

Invests funds and property to support medical research and aid needy Texans.

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Provided by the organization

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2 programs · $306K · in their own filed words · FY2022
01

Assist indigent or destitute physicians or their families. In 2022, $85,808 was paid TO/FOR 8 participants.

$186Kprogram expense
02

Provide health wellness education and services to physicians.

$120Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
David and Betty Sacks Foundation TrustFY2025$3K
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

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$362K
Ln 12
Investment incomeLn 3$197K
Gifts and grantsLn 1h$147K
Fees for servicesLn 2g$18K
Money outPt IX
$531K
Ln 25
Programscol B$306K
Managementcol C$222K
Fundraisingcol D$3K
Owns and owesPt X
$4.9M
net assets · Ln 32
Cash and savingsLn 1–2$291K
Total assetsLn 16$4.9M
LiabilitiesLn 26$75K
PeoplePt VI, VII
24
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$147K
Fees for servicesLn 2g$18K
Investment incomeLn 3$197K
Gains on assetsLn 7$93K
Total revenueLn 12$362K
Assets in detailPt X, end of year
SavingsLn 2$291K
Cash and savings togetherLn 1–2$291K
InvestmentsLn 11–13$4.6M
Total assetsLn 16$4.9M
LiabilitiesLn 26$75K
Net assetsLn 32$4.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
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$222K$291K
InvestmentsLn 11–13$5.8M$4.6M
Total assetsLn 16$6.0M$4.9M
LiabilitiesLn 26$0$75K
Net assetsLn 32$6.0M$4.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$88K$88K
Other salaries and wagesLn 7$150K$150K
Pension plan contributionsLn 8$20K$20K
Other employee benefitsLn 9$22K$22K
Payroll taxesLn 10$12K$12K
Management feesLn 11a$122K$122K
Accounting feesLn 11c$3K$3K
Investment management feesLn 11f$22K$22K
Other fees for servicesLn 11g$15K$15K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$20K$20K
Information technologyLn 14$25K$25K
OccupancyLn 16$29K$29K
TravelLn 17$940$940
Conferences, conventions and meetingsLn 19$901$901
Total functional expensesLn 25$531K$306K$222K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $485K$543K−$58K$5.4M 990 PDF
FY2023 $560K$574K−$14K$5.2M 990 PDF
FY2022 Viewing $362K$531K−$170K$4.9M 990 PDF
FY2021 $498K$440K$58K$6.0M 990 PDF
FY2020 $315K$401K−$87K$5.5M 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 $361,532 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $143,438$147,199
I-9 Program service revenuePrior year $35,477$17,776
I-10 Investment incomePrior year $318,912$196,557
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $497,827$361,532
I-13 Grants and similar amounts paidPrior year $108,899$87,558
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $212,532$203,189
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $118,678$240,568
I-18 Total expensesPrior year $440,109$531,315
I-19 Revenue less expensesPrior year $57,718−$169,783
Part VI · Governance 18 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
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 $361,532 across 7 lines filed
VIII-1d Related organizations$73,000
VIII-1f All other contributions, gifts and grants$74,199
VIII-1h Total contributions, gifts and grants$147,199
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,776$17,776
VIII-3 Investment incomeExcluded from tax $103,419$103,419
VIII-7 Net gain or loss on sales of assetsExcluded from tax $93,138$93,138
VIII-12 Total revenueRelated to mission $17,776 · Unrelated business $0 · Excluded from tax $196,557$361,532
Part IX · Statement of functional expenses $531,315 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $87,558$87,558
IX-7 Other salaries and wagesPrograms $149,553$149,553
IX-8 Pension plan contributionsPrograms $20,063$20,063
IX-9 Other employee benefitsPrograms $21,656$21,656
IX-10 Payroll taxesPrograms $11,917$11,917
IX-11a Management feesManagement $121,563$121,563
IX-11c Accounting feesManagement $2,727$2,727
IX-11f Investment management feesManagement $22,063$22,063
IX-11g Other fees for servicesPrograms $15,136$15,136
IX-12 Advertising and promotionFundraising $2,975$2,975
IX-13 Office expensesManagement $20,330$20,330
IX-14 Information technologyManagement $24,690$24,690
IX-16 OccupancyManagement $29,243$29,243
IX-17 TravelManagement $940$940
IX-19 Conferences, conventions and meetingsManagement $901$901
IX-25 Total functional expensesPrograms $305,883 · Management $222,457 · Fundraising $2,975$531,315
Part X · Balance sheet $4,943,563 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $221,884$291,034
X-4 Accounts receivableStart of year $10,366$10,464
X-9 Prepaid expenses and deferred chargesStart of year $420$7,550
X-11 Publicly traded securitiesStart of year $5,810,485$4,634,515
X-16 Total assetsStart of year $6,043,155$4,943,563
X-19 Deferred revenueStart of year $0$75,000
X-26 Total liabilitiesStart of year $0$75,000
X-27 Net assets without donor restrictionsStart of year $6,043,155$4,868,563
X-32 Total net assets or fund balancesStart of year $6,043,155$4,868,563
X-33 Total liabilities and net assetsStart of year $6,043,155$4,943,563
Part XI · Reconciliation of net assets $4,868,563 net assets at year end
XI-1 Total revenue$361,532
XI-2 Total expenses$531,315
XI-3 Revenue less expenses−$169,783
XI-4 Net assets at start of year$6,043,155
XI-5 Net unrealized gains (losses) on investments−$1,004,809
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,868,563

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

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