Orthoforum Inc
- Assets
- $4.0m
- Revenue
- $3.6m
- Investments
- $451.5k
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 04/2013
- Data as of
- 12/2022
- EIN
- 46-1847645
Organization Overview
Orthoforum Inc is located in Knoxville, TN. The organization was established in 2013. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orthoforum Inc 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, Orthoforum Inc generated $3.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $3.8m during the year ending 12/2022. While expenses have increased by 13.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EXPLORE GROUP PURCHASING ALTERNATIVES AND OPPORTUNITIES, IN COMPLIANCE WITH GROUP PURCHASING REGULATORY GUIDELINES, TO POTENTIALLY UTILIZE THE PURCHASING POWER OF THE LARGE NUMBER OF MEMBER ORTHOPAEDISTS AND REDUCE THE COSTS TO PATIENTS AND PAYERS OF MEDICAL SUPPLIES, EQUIPMENT AND SERVICES. POLITICAL ACTION INITIATIVE TO DEVELOP DATA AND RESEARCH TO SUPPORT POSITIONS IMPORTANT TO THE VIABILITY OF INDEPENDENT ORTHOPAEDIC PRACTICES TO PRESERVE INDEPENDENT PRACTICE AND THE LOWER COST CARE DELIVERY MODEL THIS OFFERS TO PATIENTS. OUTCOMES AND QUALITY RESEARCH TO ENABLE MEMBER GROUPS BETTER MEET THE DEMANDS OF VALUE BASED PAYMENT AND CARE DELIVERY REFORM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN A PRODUCTION AND FINANCIAL BENCHMARKING DATABASE, SHARING BEST PRACTICES FOR MANAGEMENT AND OPERATIONS, AND IDENTIFYING INDUSTRY TRENDS IMPACTING ORTHOPAEDIC GROUP PRACTICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glenn D Sumner President | OfficerTrustee | 1 | $199,038 |
Michael J Mccaslin Treasurer | OfficerTrustee | 1 | $0 |
Will Kurtz MD Director | Trustee | 1 | $2,500 |
Charles Busch-Joseph MD Director | Trustee | 1 | $2,500 |
Ray Mickel MD Director | Trustee | 1 | $2,500 |
Kevin Joyce Director | Trustee | 1 | $2,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Somerset Cpas Data Benchmarking | 12/30/22 | $377,000 |
Medaxiom Data Benchmarking | 12/30/22 | $233,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,543,822 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,543,822 |
| Total Program Service Revenue | $1,662,000 |
| Investment income | $60,835 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $43,564 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,612,497 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $350 |
| 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 | $1,119,824 |
| Pension plan accruals and contributions | $38,000 |
| Other employee benefits | $0 |
| Payroll taxes | $77,253 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $251,164 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,962 |
| Fees for services: Other | $194,108 |
| Advertising and promotion | $19,000 |
| Office expenses | $6,262 |
| Information technology | $90,094 |
| Royalties | $0 |
| Occupancy | $24,365 |
| Travel | $13,033 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,756,635 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $146,923 |
| All other expenses | $764 |
| Total functional expenses | $3,778,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,816,823 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $288 |
| 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 | $144,957 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,610,125 |
| Investments—other securities | $451,535 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,708 |
| Total assets | $4,026,436 |
| Accounts payable and accrued expenses | $135,500 |
| 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 | $0 |
| Total liabilities | $135,500 |
| Net assets without donor restrictions | $3,890,936 |
| Net assets with donor restrictions | $0 |
| 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 | $4,026,436 |