Western Thoracic Surgical Association
- Assets
- $764.5k
- Revenue
- $491.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Beverly, MA
- Founding
- 03/1976
- Data as of
- 12/2023
- EIN
- 23-7405487
Organization Overview
Western Thoracic Surgical Association is located in Beverly, MA. The organization was established in 1976. According to its NTEE Classification (G9B) the organization is classified as: Surgical Specialties, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Western Thoracic Surgical Association 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, Western Thoracic Surgical Association generated $491.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $551.9k during the year ending 12/2023. While expenses have increased by 0.9% 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
TO PROMOTE ADVANCEMENT IN THE QUALITY AND PRACTICE OF THORACIC AND CARDIOVASCULAR SURGERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL MEETING - TO UPDATE MEMBERS ON NEW MEDICAL TECHNIQUES AND IDEAS.
PRINTING & PUBLICATIONS - NEWSLETTER EXPENSES
COMMITTEES - REGULAR MEETINGS TO KEEP UPDATED ON CHANGES IN THORACIC AND CARDIOVASCULAR SURGERY AND PRACTICES.
GRANTS - TO PAY FOR EXPENSES RELATED TO PARTICIPATION IN AND AWARDS FOR THE SAMSON PRIZE COMPETITION, AS WELL AS TO OFFSET EXPENSES RELATED TO EDUCATIONAL/SCIENTIFIC OFFERINGS AT ITS ANNUAL MEETING SUCH AS FUTURE POSTGRADUATE SYMPOSIA THAT PERTAIN TO THE CARE OF PATIENTS WITH DISEASES THAT ARE TREATED BY CARDIOTHORACIC SURGEONS, INCLUDES A GRANT TO FOSTER INNOVATIVE EDUCATIONAL INITIATIVES IN CT SURGERY BY WTSA MEMBERS AND TO DISSEMINATE THIS INFORMATION TO OTHER TRAINING CENTERS AND ACADEMIC INSTITUTIONS. ALSO INCLUDES A TRAVELLING FELLOWSHIP TO PROMOTE INTERACTION AND LEARNING BETWEEN RESIDENTS/TRAINEES/PRACTICING SURGEONS AND WTSA MEMBER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael P Fischbein MD PHD President/se | OfficerTrustee | 2 | $0 |
Craig J Baker MD Vice Preside | OfficerTrustee | 2 | $0 |
Y Joseph Woo MD Secretary/co | OfficerTrustee | 2 | $0 |
Michael J Weyant MD Treasurer | OfficerTrustee | 2 | $0 |
Jessica S Donington MD Imm Past Pre | OfficerTrustee | 2 | $0 |
Douglas E Wood MD Historian | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $10,525 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $96,175 |
| Total Program Service Revenue | $383,180 |
| Investment income | $12,118 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $491,648 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $6,999 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $131,823 |
| Fees for services: Legal | $339 |
| Fees for services: Accounting | $5,411 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,542 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,837 |
| Information technology | $7,826 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,167 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $333,434 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $411 |
| All other expenses | $0 |
| Total functional expenses | $551,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $239,619 |
| Savings and temporary cash investments | $75,446 |
| Pledges and grants receivable | $1,500 |
| 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 | $0 |
| Investments—publicly traded securities | $442,410 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,529 |
| Total assets | $764,504 |
| Accounts payable and accrued expenses | $12,300 |
| Grants payable | $0 |
| Deferred revenue | $1,125 |
| 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 | $13,425 |
| Net assets without donor restrictions | $460,679 |
| Net assets with donor restrictions | $290,400 |
| 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 | $764,504 |
Grants Awarded
Over the last fiscal year, Western Thoracic Surgical Association has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CEDARS-SINAI MEDICAL CENTER PURPOSE: DONALD B. DOTY AWARD | $10,000 |
UNIVERSITY OF UTAH PURPOSE: DONALD B. DOTY AWARD | $10,000 |