Hip Society
- Assets
- $6.8m
- Revenue
- $962.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 04/1974
- Data as of
- 12/2023
- EIN
- 23-7348162
Organization Overview
Hip Society is located in Schaumburg, IL. The organization was established in 1974. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., 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. Hip Society 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, Hip Society generated $962.1k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $877.4k during the year ending 12/2023. 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
TO ADVANCE KNOWLEDGE OF HIP DISORDERS, PROMOTE EVIDENCE-BASED TREATMENT, AND REFINE SURGERY OF THE HIP IN ORDER TO IMPROVE THE LIVES OF PATIENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS FOR ORTHOPAEDIC SURGEONS AND ENGINEERS WHO HAVE AN INTEREST IN THE HIP SURGERY AND FULL DAY EDUCATIONAL PROGRAM DIVIDED INTO SYMPOSIA AND A SESSION OF AWARD PAPERS.
AWARDS TO ORGANIZATIONS TO PROMOTE RESEARCH IN THE FIELD OF ORTHOPAEDIC SURGERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Macaulay MD Treasurer | OfficerTrustee | 1 | $0 |
Jay R Lieberman MD Immediate Past President | OfficerTrustee | 1 | $0 |
William A Jiranek MD President | OfficerTrustee | 1 | $0 |
Don S Garbuz MD 1st Vice President | OfficerTrustee | 1 | $0 |
Steven J Macdonald MD 2nd Vice President | OfficerTrustee | 1 | $0 |
John C Clohisy MD Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $189,300 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $175,972 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $365,272 |
| Total Program Service Revenue | $437,470 |
| Investment income | $108,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $46,993 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $962,066 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,500 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $78,891 |
| Compensation of current officers, directors, key employees. | $14,563 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $84,710 |
| Pension plan accruals and contributions | $5,818 |
| Other employee benefits | $0 |
| Payroll taxes | $48,922 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,101 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,448 |
| Fees for services: Other | $153,357 |
| Advertising and promotion | $5,034 |
| Office expenses | $3,369 |
| Information technology | $35,150 |
| Royalties | $0 |
| Occupancy | $20,763 |
| Travel | $94,316 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $261,483 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,919 |
| All other expenses | $0 |
| Total functional expenses | $877,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $547,197 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $15,542 |
| Accounts receivable, net | $206,969 |
| 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 | $79,266 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,358,934 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $543,695 |
| Total assets | $6,751,603 |
| Accounts payable and accrued expenses | $40,250 |
| Grants payable | $0 |
| Deferred revenue | $123,275 |
| 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 | $46,752 |
| Total liabilities | $210,277 |
| Net assets without donor restrictions | $1,993,763 |
| Net assets with donor restrictions | $4,547,563 |
| 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 | $6,751,603 |