Orthopaedic Research And Education Foundation
- Assets
- $22.3m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Rosemont, IL
- Founding
- 08/1957
- Data as of
- 06/2023
- EIN
- 36-6009467
Organization Overview
Orthopaedic Research And Education Foundation, operating under the name Oref, is located in Rosemont, IL. The organization was established in 1957. According to its NTEE Classification (H50) the organization is classified as: Nerve, Muscle & Bone Diseases Research, under the broad grouping of Medical Research and related organizations. As of 06/2023, Oref employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oref 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 06/2023, Oref generated $3.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $5.6m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Oref has awarded 237 individual grants totaling $15,052,354. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVING LIVES BY SUPPORTING EXCELLENCE IN ORTHOPAEDIC RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT PROGRAM: THE PURPOSE OF OREF IS TO SUPPORT RESEARCH INTO THE CAUSES AND TREATMENT OF MUSCULOSKELETAL DISEASES AND INJURIES. OREF'S NICHE IS SUPPORTING SURGEON-RESEARCHERS AND PHD-RESEARCHERS IN BASIC SCIENCE/TRANSLATION, CLINICAL, AND HEALTH SERVICES RESEARCH.
OREF'S EDUCATION PROGRAM OFFERS NEW ORTHOPAEDIC MEDICAL RESEARCHERS THE OPPORTUNITY TO DEVELOP THEIR RESEARCH INTERESTS AND SKILLS. THROUGH EDUCATIONAL PROGRAMMING, OREF SUPPORTS EMERGING TALENT TO HELP THEM SUCCESSFULLY PURSUE RESEARCH CAREERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas P Sculco MD President | OfficerTrustee | 5 | $0 |
Joshua J Jacobs MD President Elect | OfficerTrustee | 5 | $0 |
Richard F Kyle MD Past President | OfficerTrustee | 5 | $0 |
Andrew N Pollak MD Secretary/treasurer | OfficerTrustee | 5 | $0 |
Francis Y Lee MD PHD Chair Rgc | Trustee | 5 | $0 |
Jeffrey S Abrams MD Chair, Innovations & Partnership | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,219,832 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,219,832 |
| Total Program Service Revenue | $0 |
| Investment income | $324,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $97,649 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,641,953 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,130,495 |
| 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. | $361,644 |
| Compensation of current officers, directors, key employees. | $52,664 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,351,077 |
| Pension plan accruals and contributions | $80,891 |
| Other employee benefits | $238,879 |
| Payroll taxes | $114,095 |
| Fees for services: Management | $86,527 |
| Fees for services: Legal | $7,199 |
| Fees for services: Accounting | $22,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $32,868 |
| Fees for services: Other | $0 |
| Advertising and promotion | $192,338 |
| Office expenses | $72,071 |
| Information technology | $161,604 |
| Royalties | $0 |
| Occupancy | $181,303 |
| Travel | $30,744 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $361,469 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,432 |
| Insurance | $87,221 |
| All other expenses | $0 |
| Total functional expenses | $5,574,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232 |
| Savings and temporary cash investments | $2,510,564 |
| Pledges and grants receivable | $1,487,666 |
| 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 | $54,606 |
| Net Land, buildings, and equipment | $14,143 |
| Investments—publicly traded securities | $13,343,812 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,841,008 |
| Total assets | $22,252,031 |
| Accounts payable and accrued expenses | $514,904 |
| Grants payable | $3,560,624 |
| 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 | $845,573 |
| Total liabilities | $4,921,101 |
| Net assets without donor restrictions | -$1,667,970 |
| Net assets with donor restrictions | $18,998,900 |
| 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 | $22,252,031 |
Grants Awarded
Over the last fiscal year, Orthopaedic Research And Education Foundation has awarded $1,963,295 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF SOUTHERN CALIFORNIA (USC) PURPOSE: scRNA-seq of Corticosteroid-Induced Osteonecrosis of the Femoral Head | $19,601 |
VIRGINIA COMMONWEALTH UNIVERSITY PURPOSE: Head-to-head Comparison of Appropriateness Criteria for Knee Arthroplasty | $10,000 |
INDIANA UNIVERSITY PURPOSE: A Novel Antibiotic to Reduce Fracture Related Infection in a Murine Model | $19,968 |
COLUMBIA UNIVERSITY MEDICAL CENTER PURPOSE: The Role of Tendinopathy and Tissue Crosstalk in Osteoarthritis Progression | $20,000 |
THE HOSPITAL FOR SPECIAL SURGERY PURPOSE: Inhibition of Gremlin1 for prevention and treatment of aseptic loosening | $20,000 |
WASHINGTON UNIVERSITY IN STLOUIS PURPOSE: Identification & Imaging of Skeletal Muscle Response to Graded Nerve Crush | $20,000 |