International Society For Minimally Invasive Cardiac Surgery
- Assets
- $896.4k
- Revenue
- $627.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Beverly, MA
- Founding
- 02/1999
- Data as of
- 12/2021
- EIN
- 41-1889746
Organization Overview
International Society For Minimally Invasive Cardiac Surgery is located in Beverly, MA. The organization was established in 1999. According to its NTEE Classification (H43) the organization is classified as: Heart & Circulatory System Diseases & Disorders Research, 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. International Society For Minimally Invasive Cardiac Surgery 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, International Society For Minimally Invasive Cardiac Surgery generated $627.8k 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 (10.0%) each year. All expenses for the organization totaled $497.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.8%) per year over the past 7 years. 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 ENGAGE IN, ASSIST, AND CONTRIBUTE TO THE SUPPORT OF EXCLUSIVELY SCIENTIFIC EDUCATIONAL OR CHARITABLE ACTIVITIES AND PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS - TO PROVIDE A FORUM FOR DEVELOPMENT OF THE MEDICAL SUBSPECIALTY OF MINIMALLY INVASIVE CARDIOTHORACIC AND CARDIOVASCULAR SURGERY.
PUBLICATIONS - TO PROVIDE AN AUDIENCE FOR THE SCIENTIFIC EVALUATION OF NEW AND INNOVATIVE MINIMALLY INVASIVE SURGICAL TECHNIQUES AND TECHNOLOGY.
COMMITTEES - THE SOCIETY ASSEMBLES COMMITTEES TO HELP ORGANIZE AND OPERATE VARIOUS FUNCTIONS OF THE SOCIETY.
GRANTS AND CONTRIBUTIONS - SUBRAMANIAN AWARD AND GRUNDEMAN AWARD
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Husam H Balkhy MD Secretary | OfficerTrustee | 2 | $0 |
Bob B Kiaii MD President/pr | OfficerTrustee | 2 | $0 |
Nikolaos Bonaros MD Vp/director | OfficerTrustee | 2 | $0 |
Piotr Suwalski MD PHD Past Pres./p | OfficerTrustee | 2 | $0 |
Nirav C Patel MD Treasurer | OfficerTrustee | 2 | $0 |
Vinod H Thourani MD Pres-Elect/v | OfficerTrustee | 2 | $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 | $278,412 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $278,412 |
| Total Program Service Revenue | $259,983 |
| Investment income | $10,110 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $54,174 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,093 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $627,772 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $10,000 |
| 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 | $95,061 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,008 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,390 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,739 |
| Information technology | $251 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $177,417 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,207 |
| All other expenses | $1,800 |
| Total functional expenses | $497,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,597 |
| Savings and temporary cash investments | $2,506 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $58,006 |
| 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 | $153,834 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $596,425 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $896,368 |
| Accounts payable and accrued expenses | $36,595 |
| Grants payable | $0 |
| Deferred revenue | $40,200 |
| 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 | $76,795 |
| Net assets without donor restrictions | $729,790 |
| Net assets with donor restrictions | $89,783 |
| 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 | $896,368 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Healthcorps Inc New York, NY | $4,691,358 | $4,849,417 |
Rosenfeld Heart Foundation Inc Rye Brook, NY | $5,611,862 | $1,550,628 |
International Society For Minimally Invasive Cardiac Surgery Beverly, MA | $896,368 | $627,772 |
Michael Wolk Heart Foundation Inc New York, NY | $2,664,426 | $597,065 |
Pulmonary Wellness Foundation Inc New York, NY | $75,369 | $282,317 |
Staten Island Heart Society Inc Staten Island, NY | $17,432 | $289,472 |
American Cardio Vascular Research Foundation Inc New York, NY | $309,604 | $80,608 |
Cardiology Associates Foundation New York, NY | $261,215 | $75,165 |
Hearts For Russ Inc South Salem, NY | $53,851 | $0 |
Rensselaer Center For Translational Research Inc Troy, NY | $27,789 | $0 |
Center For Biomedical Science And Engineering Trust Brookline, MA | $5,054,862 | $263,434 |
Hopeys Heart Foundation Jamaica, NY | $515 | $0 |