The Knee Society Inc
- Assets
- $5.2m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 06/1985
- Data as of
- 12/2023
- EIN
- 13-3190169
Organization Overview
The Knee Society Inc is located in Schaumburg, IL. The organization was established in 1985. According to its NTEE Classification (H90) the organization is classified as: Medical Disciplines Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knee Society Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Knee Society Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 16.3% per year over the past 9 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
THE KNEE SOCIETY OPERATES TO PROMOTE OUTSTANDING CARE TO PATIENTS WITH KNEE DISORDERS THROUGH INNOVATIVE RESEARCH AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL EVENTS ARE DESIGNED TO PROVIDE PRACTICING ORTHOPAEDIC SURGEONS WITH CURRENT INFORMATION REGARDING DISORDERS OF THE KNEE, SURGICAL AND NON-SURGICAL TREATMENTS FOR THE KNEE, AND EMERGING TECHNOLOGY. SCIENTIFIC PAPERS AND SYMPOSIA WILL PRESENT INFORMATION ON TOTAL KNEE ARTHROPLASTY TO ENGANCE THE CARE OF PATIENTS WITH PAINFUL, ARTHITIC KNEE JOINTS. THE SOCIETY ALSO PROVIDES MEMBERS WITH THE ABILITY TO ORGANIZE VARIOUS EDUCATIONAL SEMINARS AND LECTURES PROVIDED ON INTERIM BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher L Peters MD Immediate Past President | OfficerTrustee | 1 | $0 |
William J Maloney III MD President | OfficerTrustee | 1 | $0 |
Henry D Clarke MD 1st Vice President | OfficerTrustee | 1 | $0 |
Steven B Haas MD 2nd Vice President | OfficerTrustee | 1 | $0 |
R Michael Meneghini MD Secretary | OfficerTrustee | 1 | $0 |
Michael A Mont MD Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $215,230 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $122,667 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $337,897 |
| Total Program Service Revenue | $1,442,301 |
| Investment income | $57,484 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,470 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,844,196 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $3,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $218,520 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,430 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,705 |
| Fees for services: Accounting | $15,101 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,936 |
| Fees for services: Other | $212,185 |
| Advertising and promotion | $21,702 |
| Office expenses | $12,303 |
| Information technology | $43,611 |
| Royalties | $0 |
| Occupancy | $20,505 |
| Travel | $96,070 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,115,900 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,842 |
| All other expenses | $0 |
| Total functional expenses | $1,855,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,267,242 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,167 |
| Accounts receivable, net | $210,862 |
| 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 | $95,234 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,039,683 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $543,758 |
| Total assets | $5,164,946 |
| Accounts payable and accrued expenses | $776,740 |
| Grants payable | $0 |
| Deferred revenue | $175,300 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $46,836 |
| Total liabilities | $998,876 |
| Net assets without donor restrictions | $2,166,993 |
| Net assets with donor restrictions | $1,999,077 |
| 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 | $5,164,946 |
Grants Awarded
Over the last fiscal year, The Knee Society Inc has awarded $50,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ROTHMAN INSTITUTE PURPOSE: RESEARCH | $25,000 |
NYU GROSSMAN SCHOOL OF MEDICINE PURPOSE: RESEARCH | $25,000 |