American Association For Thoracic Surgery
- Assets
- $17.0m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 40
- Location
- Beverly, MA
- Founding
- 03/1978
- Data as of
- 12/2023
- EIN
- 04-6406547
Organization Overview
American Association For Thoracic Surgery is located in Beverly, MA. The organization was established in 1978. According to its NTEE Classification (G03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2023, American Association For Thoracic Surgery employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Association For Thoracic Surgery is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, American Association For Thoracic Surgery generated $11.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $11.5m during the year ending 12/2023. While expenses have increased by 4.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE SCHOLARSHIP, INNOVATION, AND LEADERSHIP FOR THORACIC AND CARDIOVASCULAR SURGERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS & EDUCATION - THE ASSOCIATION HOLDS SEVERAL MEETINGS, WEBINARS, AND COURSES THROUGHOUT THE YEAR PRESENTING MEDICAL AND SCIENTIFIC INFORMATION FOCUSED ON THORACIC AND CARDIOVASCULAR SURGERY.
QUALITY - INFORMATION GATHERING TO IMPROVE PATIENT SURGICAL OUTCOMES.
PUBLICATIONS - TO UPDATE READERS ON CURRENT TECHNIQUES AND PROCEDURES IN THORACIC AND CARDIOVASCULAR SURGERY.
MEMBERSHIP - TO PROVIDE INFORMATION AND SERVICES TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lars G Svensson MD PHD President | OfficerTrustee | 3 | $0 |
David R Jones MD President-Elect | OfficerTrustee | 3 | $0 |
Emile A Bacha MD Vice President | OfficerTrustee | 3 | $0 |
Yolonda L Colson MD Past President | OfficerTrustee | 3 | $0 |
Rosemary F Kelly MD Secretary | OfficerTrustee | 2 | $0 |
Leonard N Girardi MD Treasurer | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alec Patterson Publications Editor | 12/30/23 | $330,000 |
Engagehrnow Fractional Director Of Hr | 12/30/23 | $168,705 |
David Booth Project Consultant | 12/30/23 | $321,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $539,112 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $549,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,088,612 |
| Total Program Service Revenue | $9,924,140 |
| Investment income | $347,601 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $210,761 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,700,036 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,069 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,750 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $520,131 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,136,212 |
| Pension plan accruals and contributions | $123,174 |
| Other employee benefits | $173,125 |
| Payroll taxes | $286,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $268,004 |
| Fees for services: Accounting | $55,810 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,609 |
| Fees for services: Other | $1,136,953 |
| Advertising and promotion | $59,778 |
| Office expenses | $494,944 |
| Information technology | $631,038 |
| Royalties | $0 |
| Occupancy | $157,352 |
| Travel | $704,567 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,706,759 |
| Interest | $79,864 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $135,599 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $11,533,057 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $383,635 |
| Savings and temporary cash investments | $25,115 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $767,979 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $652,104 |
| Net Land, buildings, and equipment | $139,290 |
| Investments—publicly traded securities | $12,849,458 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,216,795 |
| Total assets | $17,034,376 |
| Accounts payable and accrued expenses | $874,898 |
| Grants payable | $0 |
| Deferred revenue | $845,913 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,765,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,654,359 |
| Total liabilities | $6,140,170 |
| Net assets without donor restrictions | $10,894,206 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,034,376 |