Hip Society
- Assets
- $6.8m
- Revenue
- $702.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 04/1974
- Data as of
- 12/2021
- 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 12/2021, Hip Society generated $702.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $734.1k during the year ending 12/2021. 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
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 ON THE FILED OF ORTHOPAEDIC SURGERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Olga Foley Executive Director | Officer | 40 | $122,074 |
C Anderson Engh Jr MD President | OfficerTrustee | 1 | $0 |
Jay R Lieberman MD 1st Vice President | OfficerTrustee | 1 | $0 |
William A Jiranek MD 2nd Vice President | OfficerTrustee | 1 | $0 |
Don S Garbuz MD 3rd Vice President | OfficerTrustee | 1 | $0 |
John C Clohisy MD Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $191,050 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $130,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $321,050 |
| Total Program Service Revenue | $275,363 |
| Investment income | $101,585 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,280 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $702,360 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $25,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $71,014 |
| Compensation of current officers, directors, key employees. | $13,112 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $97,458 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $79,416 |
| Fees for services: Legal | $4,427 |
| Fees for services: Accounting | $7,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,568 |
| Fees for services: Other | $46,128 |
| Advertising and promotion | $5,824 |
| Office expenses | $11,672 |
| Information technology | $23,302 |
| Royalties | $0 |
| Occupancy | $9,824 |
| Travel | $77,196 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $152,616 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,136 |
| All other expenses | $0 |
| Total functional expenses | $734,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $398,033 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,000 |
| Accounts receivable, net | $149,162 |
| 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 | $52,292 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,682,571 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $501,685 |
| Total assets | $6,786,743 |
| Accounts payable and accrued expenses | $63,366 |
| Grants payable | $0 |
| Deferred revenue | $211,635 |
| 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 | $0 |
| Total liabilities | $275,001 |
| Net assets without donor restrictions | $1,776,410 |
| Net assets with donor restrictions | $4,735,332 |
| 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 | $6,786,743 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hip Society has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
American Association Of Hip & Knee Surgeons Rosemont, IL PURPOSE: PUBLICATION OF MEETING PROCEEDINGS | $50,000 |
Endowment Analysis
| Beg. Balance | $239,633 |
| Earnings | $47,700 |
| Grants | $25,000 |
| Ending Balance | $262,333 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trilogy Inc Chicago, IL | $15,390,124 | $38,855,480 |
Family Institute Evanston, IL | $24,399,945 | $35,971,873 |
Hektoen Institute For Medical Research Chicago, IL | $65,726,936 | $31,693,206 |
Usona Institute Inc Madison, WI | $38,737,266 | $18,840,870 |
Chicago Association For Research And Education In Science Hines, IL | $11,790,723 | $5,694,956 |
International Association Of Assessing Officers Kansas City, MO | $8,352,276 | $4,892,120 |
Michael Reese Research And Education Foundation Chicago, IL | $25,901,146 | $3,650,987 |
International Society For Stem Cell Research Skokie, IL | $8,137,846 | $3,959,599 |
Well Resource Center Pella, IA | $3,360,975 | $3,363,505 |
Midwest Veterans Biomedical Research Foundation Kansas City, MO | $3,199,382 | $2,142,096 |
Association Of Records Managers & Administrators Lees Summit, MO | $1,165,887 | $1,993,906 |
National Headache Foundation Chicago, IL | $2,418,040 | $1,328,229 |