Foundation For Spinal Restoration
- Assets
- $1.6m
- Revenue
- $936.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Santa Monica, CA
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 46-1150250
Organization Overview
Foundation For Spinal Restoration is located in Santa Monica, CA. The organization was established in 2014. According to its NTEE Classification (H9B) the organization is classified as: Surgical Specialties 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. Foundation For Spinal Restoration 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, Foundation For Spinal Restoration generated $936.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $669.9k during the year ending 12/2021. While expenses have increased by 10.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER EVALUATE BIOLOGICS, STEM CELLS, IMPLANTS, AND TO TEST DEVICES AND SURGICAL TECHNIQUES FOR CLINICAL TREATMENT OF DEGENERATIVE DISEASES AND ABNORMALITIES OF THE SPINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED RESEARCH ON CUTTING EDGE NOVEL SURGICAL, INJECTIBLES, AND OTHER TECHNIQUES FOR TREATMENT OF SPINAL DISORDERS INCLUDING THERAPY FOR CORRECTION OF SPINAL CURVATURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hyun W Bae MD President | Trustee | 10 | $0 |
Charanpreet Bagga Director | Trustee | 0 | $0 |
Linda E A Kanim Director | Trustee | 0 | $0 |
Caroline Bae Director | Trustee | 0 | $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 | $428,330 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $428,330 |
| Total Program Service Revenue | $499,543 |
| Investment income | $0 |
| 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 | $936,703 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| 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. | $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 | $11,855 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,033 |
| Information technology | $1,487 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,821 |
| Insurance | $0 |
| All other expenses | $19,997 |
| Total functional expenses | $669,878 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $184,888 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,647 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,508 |
| Investments—publicly traded securities | $700,000 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $47,306 |
| Other assets | $608,830 |
| Total assets | $1,557,179 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $473 |
| Total liabilities | $473 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,556,706 |
| 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 | $1,557,179 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation For Spinal Restoration has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $20,000 |