Society Of Thoracic Surgeons
- Assets
- $76.2m
- Revenue
- $32.1m
- Investments
- $0.0
- Employees
- 98
- Location
- Chicago, IL
- Founding
- 06/1979
- Data as of
- 12/2022
- EIN
- 36-3022713
Organization Overview
Society Of Thoracic Surgeons is located in Chicago, IL. The organization was established in 1979. 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. As of 12/2022, Society Of Thoracic Surgeons employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society Of Thoracic Surgeons is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Society Of Thoracic Surgeons generated $32.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $31.8m during the year ending 12/2022. While expenses have increased by 7.2% per year over the past 8 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.
Since 2014, Society Of Thoracic Surgeons has awarded 42 individual grants totaling $6,471,899. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE ABILITY OF CARDIOTHORACIC SURGEONS TO PROVIDE THE HIGHEST QUALITY PATIENT CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION - PROVIDE EDUCATIONAL ACTIVITIES AND PUBLISH A JOURNAL REGARDING MEDICAL AND SCIENTIFIC INFORMATION TO OVER 7,700 MEMBERS.
HEALTH POLICY - EDUCATE OVER 7,700 MEMBERS ABOUT EXISTING AND PROPOSED LEGISLATION AND REGULATIONS, AND EDUCATE GOVERNMENTAL BODIES ABOUT THE SPECIALTY.
QUALITY, RESEARCH, AND PATIENT SAFETY - DEVELOP AND MAINTAIN THE STS NATIONAL DATABASE FOR THORACIC SURGERY CLINICAL OUTCOMES, PROMULGATE CLINICAL PRACTICE GUIDELINES TO ENHANCE PATIENT CARE, AND ENGAGE IN RELATED ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John H Calhoon MD President | OfficerTrustee | 12 | $8,000 |
Wilson Y Szeto MD Secretary | OfficerTrustee | 12 | $5,500 |
Thomas E Macgillivray MD First Vice President | OfficerTrustee | 12 | $1,000 |
Jennifer C Romano MD Second Vice President | OfficerTrustee | 3 | $1,000 |
Vinod H Thourani MD Treasurer | OfficerTrustee | 3 | $1,000 |
Joseph A Dearani MD Imt. Past President - Thru 1/22 | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
University Of Alabama At Birmingham Data Warehousing | 12/30/22 | $2,585,438 |
Duke University Data Warehousing | 12/30/22 | $2,133,064 |
Iqvia Rds Inc Data Warehousing | 12/30/22 | $1,601,640 |
Healthcare Management Solutions Llc Data Auditing | 12/30/22 | $353,468 |
Projection Inc Audio Visual | 12/30/22 | $342,183 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,852 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,166,967 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,277,819 |
| Total Program Service Revenue | $22,675,193 |
| Investment income | $1,568,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6,562,787 |
| Net Rental Income | $69,977 |
| Net Gain/Loss on Asset Sales | -$336,621 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,055,717 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,102,266 |
| 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. | $5,428,956 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,333,477 |
| Pension plan accruals and contributions | $412,571 |
| Other employee benefits | $903,655 |
| Payroll taxes | $643,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $121,961 |
| Fees for services: Accounting | $52,305 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $272,973 |
| Fees for services: Other | $10,622,361 |
| Advertising and promotion | $0 |
| Office expenses | $1,049,800 |
| Information technology | $559,271 |
| Royalties | $0 |
| Occupancy | $605,483 |
| Travel | $416,456 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,546,399 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,490,731 |
| Insurance | $187,971 |
| All other expenses | $0 |
| Total functional expenses | $31,839,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,844,795 |
| Savings and temporary cash investments | $846,661 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,254,130 |
| 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 | $961,214 |
| Net Land, buildings, and equipment | $7,430,848 |
| Investments—publicly traded securities | $59,504,958 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,329,137 |
| Total assets | $76,171,743 |
| Accounts payable and accrued expenses | $6,202,733 |
| Grants payable | $0 |
| Deferred revenue | $10,932,971 |
| 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 | $3,592,139 |
| Total liabilities | $20,727,843 |
| Net assets without donor restrictions | $55,261,639 |
| Net assets with donor restrictions | $182,261 |
| 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 | $76,171,743 |
Grants Awarded
Over the last fiscal year, Society Of Thoracic Surgeons has awarded $1,099,341 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
THE THORACIC SURGERY FOUNDATION PURPOSE: OPERATIONS & GRANT SUPPORT | $1,012,841 |
WOMAN IN THORACIC SURGERY PURPOSE: DONATION | $16,500 |
AMERICAN ASSOCIATION FOR THORACIC SURGERY PURPOSE: SCHOLARSHIP SUPPORT | $10,000 |
ASSOCIATION OF BLACK CARDIOVASCULAR AND THORACIC SURGEONS PURPOSE: PROGRAM SUPPORT | $60,000 |