Cardiovascular Institute
- Assets
- $711.6k
- Revenue
- $487.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Philadelphia, PA
- Founding
- 04/1999
- Data as of
- 06/2021
- EIN
- 23-2984908
Organization Overview
Cardiovascular Institute is located in Philadelphia, PA. The organization was established in 1999. According to its NTEE Classification (G43) the organization is classified as: Heart & Circulatory System Diseases & Disorders, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 06/2021, Cardiovascular Institute employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cardiovascular Institute 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 06/2021, Cardiovascular Institute generated $487.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $560.4k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CARDIOVASCULAR INSTITUTE CONDUCTS MEDICAL RESEARCH, PROFESSIONAL EDUCATION SEMINARS AND PROVIDES COMMUNITY EDUCATION IN THE AREA OF CARDIOVASCULAR MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FELLOWSHIP GRANTS ISSUED FOR RESEARCH.
CONDUCTING PROFESSIONAL EDUCATION SEMINARS IN THE AREA OF CARDIOVASCULAR MEDICINE.
PROVIDES COMMUNITY EDUCATION SEMINARS IN THE AREA OF CARDIOVASCULAR HEALTH.
FELLOWSHIP GRANTS ISSUED FOR RESEARCH.
CONDUCTING PROFESSIONAL EDUCATION SEMINARS IN THE AREA OF CARDIOVASCULAR MEDICINE.
PROVIDES COMMUNITY EDUCATION SEMINARS IN THE AREA OF CARDIOVASCULAR HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Hartnett Executive Di | Officer | 40 | $134,064 |
Mark Victor MD Co-Medical D | OfficerTrustee | 5 | $0 |
Pasquale Procacci MD Co-Medical D | OfficerTrustee | 5 | $0 |
Sheldon Goldberg MD President | OfficerTrustee | 5 | $0 |
Veronica Covalesky MD Im. Past Pr/ | OfficerTrustee | 5 | $0 |
Patricia K Scheller Bse Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $91,871 |
| All other contributions, gifts, grants, and similar amounts not included above | $241,734 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $333,605 |
| Total Program Service Revenue | $124,367 |
| Investment income | $12,471 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,107 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $487,550 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $134,064 |
| Compensation of current officers, directors, key employees. | $4,022 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,106 |
| Pension plan accruals and contributions | $7,764 |
| Other employee benefits | $51,831 |
| Payroll taxes | $20,414 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,144 |
| Fees for services: Other | $14,475 |
| Advertising and promotion | $0 |
| Office expenses | $6,708 |
| Information technology | $10,520 |
| Royalties | $0 |
| Occupancy | $30,040 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,876 |
| Insurance | $2,955 |
| All other expenses | $0 |
| Total functional expenses | $560,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,137 |
| Savings and temporary cash investments | $119,029 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $17,921 |
| Investments—publicly traded securities | $434,759 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,736 |
| Total assets | $711,582 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $57,600 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $705 |
| Total liabilities | $58,305 |
| Net assets without donor restrictions | $531,677 |
| Net assets with donor restrictions | $121,600 |
| 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 | $711,582 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cardiovascular Institute has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
William Goldman Foundation C/O Marilyn Klein Radnor, PA PURPOSE: UNRESTRICTED | $1,000 |
Endowment Analysis
| Beg. Balance | $102,535 |
| Earnings | $439 |
| Admin Expense | $33 |
| Net Contributions | $16,594 |
| Ending Balance | $119,535 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Humc Cardiovascular Partners Pc Edison, NJ | $11,041,395 | $45,317,775 |
The Heart Group Of Lancaster General Health Lancaster, PA | $8,306,445 | $18,701,008 |
Light Of Hearts Villa Inc Bedford, OH | $9,144,420 | $3,630,164 |
Sacred Heart Villa Assisted Living Community Reading, PA | $2,656 | $2,071,500 |
Adult Congenital Heart Association Inc Media, PA | $1,775,522 | $2,125,476 |
Childrens Cardiomyopathy Foundation Inc Tenafly, NJ | $2,994,643 | $890,184 |
International Atherosclerosis Society Woodcliff Lake, NJ | $522,027 | $795,356 |
American Journal Of Hypertension Ltd New York, NY | $7,453,891 | $563,715 |
Foundation For Women And Girls With Blood Disorders Montclair, NJ | $1,570,346 | $760,033 |
Cardiovascular Institute Philadelphia, PA | $711,582 | $487,550 |
Sacred Heart Community Corporation Lyndhurst, OH | $894,461 | $513,336 |
Center For Vascular Awareness Inc Latham, NY | $3,489,182 | $633,176 |