Foundation For Arthroplasty Research And Education
- Assets
- $2.3m
- Revenue
- $120.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Rosemont, IL
- Founding
- 10/2015
- Data as of
- 12/2021
- EIN
- 47-2095371
Organization Overview
Foundation For Arthroplasty Research And Education is located in Rosemont, IL. The organization was established in 2015. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Arthroplasty Research And Education 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 Arthroplasty Research And Education generated $120.1k 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 (15.6%) each year. All expenses for the organization totaled $166.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Foundation For Arthroplasty Research And Education has awarded 17 individual grants totaling $836,873. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HEALTH AND QUALITY OF LIFE BY SUPPORTING HIP AND KNEE RESEARCH, EDUCATION IN JOINT CARE, AND SCIENTIFIC ADVANCES IN THE TREATMENT OF THE HIP AND KNEE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FARE ESTABLISHED A GRANTS COMMITTEE TO AWARD MONETARY GRANTS OR OTHER FORMS OF FINANCIAL AND IN-KIND SUPPORT TO RESEARCH PROJECTS AND EDUCATIONAL ACTIVITIES THAT ADVANCE THE FARE MISSION. THE BOARD AUTHORIZED UP TO $250,000 TO BE USED FOR RESEARCH GRANTS AND A SOLICITATION TO RESEARCHERS TO APPLY FOR GRANTS WAS ISSUED. FARE WORKED WITH THE AAHKS RESEARCH COMMITTEE TO PROVIDE A BLINDED TECHNICAL EVALUATION AND SCORING OF RELEVANT RESEARCH/EDUCATION PROPOSALS IN SUPPORT OF THE FARE GRANTS COMMITTEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Iorio Vice President | OfficerTrustee | 0.25 | $0 |
Ryan Nunley Treasurer | OfficerTrustee | 0.25 | $0 |
Rafael Sierra Secretary | OfficerTrustee | 0.25 | $0 |
Michael Bolognesi President | OfficerTrustee | 0.25 | $0 |
Gregory Polkowski Secretary | OfficerTrustee | 0.25 | $0 |
C Lowry Barnes President | OfficerTrustee | 0.25 | $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 | $17,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,250 |
| Total Program Service Revenue | $0 |
| Investment income | $46,567 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $55,545 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $120,077 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $152,478 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,586 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $11 |
| Total functional expenses | $166,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $239,874 |
| Savings and temporary cash investments | $51,696 |
| Pledges and grants receivable | $9,250 |
| Accounts receivable, net | $2,215 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,959,467 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,262,502 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $50,000 |
| 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 | $50,000 |
| Net assets without donor restrictions | $2,192,502 |
| Net assets with donor restrictions | $20,000 |
| 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 | $2,262,502 |
Grants Awarded
Over the last fiscal year, Foundation For Arthroplasty Research And Education has awarded $149,478 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ROTHMAN INSTITUTE PURPOSE: SPRING 2021 RESEARCH GRANT | $50,000 |
Somerville, MA PURPOSE: SPRING 2021 RESEARCH GRANT | $50,000 |
UNIVERSITY OF WISCONSIN PURPOSE: FALL 2021 RESEARCH GRANT | $49,478 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Foundation For Arthroplasty Research And Education has recieved totaling $60,000.
| Awarding Organization | Amount |
|---|---|
Aaron A Hofmann Foundation Inc Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $20,000 |
Aaron A Hofmann Foundation Inc Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $20,000 |
Aaron A Hofmann Foundation Inc Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Orthopaedic Research And Education Foundation Rosemont, IL | $25,903,586 | $3,855,378 |
Scoliosis Research Society Milwaukee, WI | $19,613,993 | $4,690,080 |
Child Neurology Education And Research Foundation Lexington, KY | $4,583,151 | $3,554,448 |
Mpn Research Foundation Chicago, IL | $7,764,367 | $2,570,885 |
Parkinson's Disease Research Society C/O Carol Santi Highland Park, IL | $0 | $653 |
Foundation For Arthroplasty Research And Education Rosemont, IL | $2,262,502 | $120,077 |
Indiana Parkinson Foundation Noblesville, IN | $162,652 | $0 |
Tri-State Multiple Sclerosis Association Inc Evansville, IN | $1,107,999 | $140,176 |
Mars Research Inc Gilbert, IA | $58,510 | $0 |
Northwestern Arthritis & Rehabiltation Institute Chicago, IL | $19,210 | $0 |
Louisville Orthopedic Research & Educational Foundation Inc Louisville, KY | $836,896 | $135,717 |
Illinois Orthopaedic Foundation Glenview, IL | $77,239 | $0 |