The Thoracic Surgery Foundation
- Assets
- $8.1m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 03/1990
- Data as of
- 12/2022
- EIN
- 36-3635910
Organization Overview
The Thoracic Surgery Foundation is located in Chicago, IL. The organization was established in 1990. 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. Thoracic Surgery Foundation 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 12/2022, Thoracic Surgery Foundation generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 8.0% per year over the past 7 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 2016, Thoracic Surgery Foundation has awarded 47 individual grants totaling $1,621,150. 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
THE MISSION OF TSF IS TO FOSTER THE DEVELOPMENT OF SURGEON SCIENTISTS IN CARDIOTHORACIC SURGERY; INCREASING KNOWLEDGE AND INNOVATION TO BENEFIT PATIENT CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR, TSF AWARDED A TOTAL OF 126 AWARDS CONSISTING OF 7 EVERY HEARTBEAT MATTERS AWARDS (SUPPORT FOR PROGRAMS THAT EDUCATE, SCREEN AND/OR TREAT UNDERSERVED POPULATIONS TO REDUCE THE GLOBAL BURDEN OF HEART VALVE DISEASE, OR TO SUPPORT OTHER PROGRAMS THAT ADVANCE HEALTH CARE AND ADDRESS UNDERSERVED POPULATIONS), 3 CAROLYN REED TRAVELING FELLOWSHIP AWARDS (SUPPORT OF A CLINICALLY-ESTABLISHED WOMAN THORACIC OR CARDIAC SURGEON, OR A WOMAN RESIDENT IN HER LAST YEAR OF CARDIOTHORACIC SURGERY RESIDENCY, TO TRAVEL TO ANOTHER INSTITUTION FOR THE PURPOSE OF LEARNING A NEW SKILL OR TECHNOLOGY), 8 RESEARCH AWARDS (OPERATIONAL SUPPORT OF ORIGINAL RESEARCH EFFORTS BY CARDIOTHORACIC SURGEONS WHO HAVE COMPLETED THEIR FORMAL TRAINING, AND WHO ARE SEEKING INITIAL SUPPORT AND RECOGNITION FOR THE RESEARCH PROGRAM), 2 BRAUNWALD AWARDS (SUPPORT A WOMAN SURGEON AND WOMAN RESIDENT WORKING IN CARDIAC SURGICAL CLINIC OR LABORATORY RESEARCH PROGRAM), 1 STSA RESEARCH AWARD (SUPPORT OF ORIGINAL RESEARCH EFFORTS BY CARDIOTHORACIC SURGEONS WHO HAVE COMPLETED THEIR FORMAL TRAINING AND WHO ARE SEEKING INITIAL SUPPORT AND RECOGNITION FOR THEIR RESEARCH PROGRAM), 1 LEVI WATKINS AWARDS (SUPPORT TRAVEL TO A CENTER OF EXCELLENCE TO ACQUIRE ADDITIONAL CLINICAL, TRANSLATIONAL OR LEADERSHIP TRAINING TO ENHANCE SKILLS AND PRACTICE IN AN AREA OF INNOVATION OR SURGICAL SIGNIFICANCE FOR A CARDIOTHORACIC SURGEON), 2 REPLOGLE AWARD (SUPPORT CONTINUING EDUCATION OF SURGEON OR RESIDENT COMMITTED TO THE TREATMENT OF CONGENITAL HEART DISEASE IN NEONATES, INFANTS, CHILDREN AND ADULTS), 1 SARNS TERUMO PERFUSION EDUCATION FELLOWSHIP AWARD (SUPPORT CONTINUING EDUCATION OF A BOARD CERTIFIED PERFUSIONIST COMMITTED TO EXPAND CARDIOVASCULAR PERFUSION EDUCATION), 1 STS RESEARCH AWARD (SUPPORT OF ORIGINAL RESEARCH EFFORTS BY CARDIOTHORACIC SURGEONS WHO HAVE COMPLETED THEIR FORMAL TRAINING AND WHO ARE SEEKING INITIAL SUPPORT AND RECOGNITION FOR THEIR RESEARCH PROGRAM), 3 ALLEY-SHERIDAN AWARDS (SUPPORT EDUCATIONAL OPPORTUNITIES FOR CARDIOTHORACIC SURGEONS TO ATTEND THE LEADERSHIP PROGRAM IN HEALTH POLICY MANAGEMENT OFFERED BY BRANDEIS UNIVERSITY), 1 DAVIDSON FELLOWSHIP (SUPPORT A YOUNG EARLY-CAREER CARDIOTHORACIC SURGEON COMMITTED TO THE VISION OF INNOVATIVE AND COLLABORATIVE CARDIOVASCULAR CARE), 9 INTERNATIONAL MEDICAL VOLUNTEER SCHOLARSHIPS (PROVIDE GLOBAL CARDIOTHORACIC SURGERY VOLUNTEER EXPERIENCE FOR A CARDIOTHORACIC SURGERY RESIDENT OR SURGEON UNDER THE MENTORSHIPS OF AN EXPERIENCED SURGEON VOLUNTEER), AND 5 SAHA SCHOLARSHIPS (SUPPORT EDUCATIONAL OPPORTUNITIES FOR CARDIOTHORACIC SURGERY RESIDENTS OR JUNIOR FACULTY FROM INDIA TO ATTEND STS ANNUAL MEETING). 2 NICHOLAS KOUCHOUKOS AWARD (TO FACILITATE THE CONTINUING EDUCATION OF A CARDIOTHORACIC SURGEON OR SENIOR RESIDENT COMMITTED TO THE TREATMENT OF THORACIC AORTIC DISEASE), 1 TSF UNDERREPRESENTED ROBOTIC GENERAL THORACIC SURGEON DEVELOPMENT AWARD (TO SUPPORT GENERAL THORACIC SURGEONS OR CARDIOTHORACIC SURGERY RESIDENTS IN THEIR LAST YEAR OF TRAINING WHO EITHER ARE FROM A UNDERREPRESENTED IN MEDICINE DEMOGRAPHIC GROUP, WHO WORK IN A DESIGNATED RURAL AREA, OR WHO WORK IN A MEDICALLY UNDERSERVED AREA/POPULATION), 2 EHM STRUCTURAL HEART DIVERSITY FELLOWSHIP (SUPPORT FOR CARDIOTHORACIC SURGEONS AND TRAINEES WHO ARE SEEKING TO ENHANCE THEIR SKILLS IN EITHER TRANSCATHETER VALVE TECHNIQUES OR OPEN VALVE SURGERY), 1 THE THORACIC SURGERY FOUNDATION/FRANCIS FONTAN FUND INTERNATIONAL TRAVELING FELLOWSHIP (FACILITATES THE CONTINUING EDUCATION OF A FACULTY YOUNG SURGEON TO TRAVEL TO AN INTERNATIONAL INSTITUTION WITH THE PURPOSE OF LEARNING A NOVEL TECHNIQUE, OR ADAPTING INNOVATIVE TECHNOLOGY AND/OR FOSTERING COLLABORATION BETWEEN SURGICAL INVESTIGATORS IN OTHER TO FURTHER THE PROGRESS OF CARDIOTHORACIC SURGERY AT THE RECIPIENT'S HOME INSTITUTION), 1 VIVIEN T. THOMAS LECTURE ( SPEAKER HONORARIUM), AND 75 LATIN AMERICA TRAVEL AWARDS TO ATTEND THE EACTS/STS CARDIOVASCULAR CONFERENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas E Macgillivray MD Director | Trustee | 4 | $0 |
Vinod H Thourani MD Director | Trustee | 4 | $0 |
Joseph A Dearani MD President | OfficerTrustee | 12 | $0 |
Virginia R Litle MD Vice President | OfficerTrustee | 12 | $0 |
Anthony L Estrera MD Treasurer | OfficerTrustee | 12 | $0 |
Scott A Lemaire MD Secretary | OfficerTrustee | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $710,798 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,876,193 |
| Noncash contributions included in lines 1a–1f | $204,066 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,586,991 |
| Total Program Service Revenue | $0 |
| Investment income | $129,471 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$173,636 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,542,826 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $245,000 |
| Grants and other assistance to domestic individuals. | $1,237,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $86,308 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,035 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,404 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,421 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,658 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,793 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,621,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,563,652 |
| Savings and temporary cash investments | $166,974 |
| Pledges and grants receivable | $1,317,262 |
| 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 | $6,340 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,035,177 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,089,405 |
| Accounts payable and accrued expenses | $36,459 |
| Grants payable | $705,321 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $741,780 |
| Net assets without donor restrictions | $3,745,055 |
| Net assets with donor restrictions | $3,602,570 |
| 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 | $8,089,405 |
Grants Awarded
Over the last fiscal year, The Thoracic Surgery Foundation has awarded $245,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
VOOM FOUNDATION PURPOSE: EVERY HEART BEAT MATTERS | $35,000 |
REGENTS OF UNIVERSITY OF CAPE TOWN FUND INC PURPOSE: EVERY HEART BEAT MATTERS | $35,000 |
UNIVERSITY OF WASHINGTON PURPOSE: EVERY HEART BEAT MATTERS | $35,000 |
SALVANDO CORAZONES-PERUVIAN AMERICAN MEDICAL SOCIETY PURPOSE: EVERY HEART BEAT MATTERS | $35,000 |
INDIANA UNIVERSITY PURPOSE: EVERY HEART BEAT MATTERS | $35,000 |
REGENTS OF THE UNIVERSITY OF MINNESOTA PURPOSE: EVERY HEART BEAT MATTERS | $35,000 |