American Surgical Association Foundation
- Assets
- $5.8m
- Revenue
- $657.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Beverly, MA
- Founding
- 02/1978
- Data as of
- 12/2021
- EIN
- 95-3179452
Organization Overview
American Surgical Association Foundation is located in Beverly, MA. The organization was established in 1978. 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. American Surgical Association Foundation 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, American Surgical Association Foundation generated $657.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $549.9k during the year ending 12/2021. While expenses have increased by 4.2% 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 FUND THE RESEARCH OF SURGEONS INTO THE NEWEST SURGICAL PROCEDURES AND TECHNIQUES AND IN THE USE OF SPECIALIZED AND NEWLY DEVELOPED EQUIPMENT. PROVIDES MEANS OF FURTHERING THE PROFESSIONAL TRAINING, DEVELOPING THE TECHNICAL BACKGROUND AND PROMOTING THE EDUCATION OF INDIVIDUALS IN TRAINING THROUGH RESEARCH GRANTS AND AWARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FELLOWSHIP AWARDS - TO SUPPORT AND ENCOURAGE GIFTED YOUNG SURGEONS WHO CHOOSE CAREERS IN INVESTIGATION AND ACADEMIC SURGERY.
FLANCE KARL AWARD - PRESENTED TO A MEMBER-SURGEON IN THE UNITED STATES OF AMERICA OR IN CANADA WHO HAS MADE A SEMINAL CONTRIBUTION IN BASIC LABORATORY RESEARCH WHICH HAS APPLICATION TO CLINICAL SURGERY.
COMMITTEES - MEETINGS DURING THE YEAR BY VARIOUS MEMBERS TO MANAGE THE ACTIVITIES OF THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James S Economou MD PHD Chair/vice C | OfficerTrustee | 2 | $0 |
Mary T Hawn MD Secretary | OfficerTrustee | 2 | $0 |
Kelly M Mcmasters MD PHD Treasurer | OfficerTrustee | 2 | $0 |
B Mark Evers MD Treasurer (4 | OfficerTrustee | 2 | $0 |
Anna M Ledgerwood MD Chair (4/21) | OfficerTrustee | 2 | $0 |
Keith D Lillemoe MD Vice Chair/t | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $250,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $138,851 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $388,851 |
| Total Program Service Revenue | $0 |
| Investment income | $108,754 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $159,937 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $657,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $450,043 |
| Grants and other assistance to Foreign Orgs/Individuals | $50,292 |
| 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 | $8,731 |
| Fees for services: Legal | $495 |
| Fees for services: Accounting | $9,543 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,827 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,188 |
| 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 | $300 |
| All other expenses | $0 |
| Total functional expenses | $549,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,380 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $7,700 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,668,438 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,558 |
| Total assets | $5,755,076 |
| Accounts payable and accrued expenses | $580 |
| Grants payable | $664,286 |
| 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 | $664,866 |
| Net assets without donor restrictions | $3,213,440 |
| Net assets with donor restrictions | $1,876,770 |
| 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 | $5,755,076 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that American Surgical Association Foundation has recieved totaling $37,500.
| Awarding Organization | Amount |
|---|---|
Joanne Barr Memorial Liver Transplantation Foundation Los Angeles, CA PURPOSE: PUBLIC SUPPORT OF ORGANIZATION | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $8,000 |
W M Keck Foundation Los Angeles, CA PURPOSE: FOR GENERAL SUPPORT OF CHARITABLE PURPOSES | $4,000 |
D L And L F Rikkers Family Foundation Inc Madison, WI PURPOSE: PROGRAM SUPPORT | $500 |
Endowment Analysis
| Beg. Balance | $4,947,155 |
| Earnings | $796,283 |
| Grants | $75,000 |
| Ending Balance | $5,668,438 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Cooperative Central Bank Woburn, MA | $0 | $2,132,200 |
Aats Foundation Beverly, MA | $13,581,711 | $3,019,984 |
American Surgical Association Foundation Beverly, MA | $5,755,076 | $657,542 |
Vascular And Endovascular Surgery Society Beverly, MA | $1,121,888 | $594,853 |
The Plastic Surgery Research Council Beverly, MA | $745,383 | $234,184 |
International Institute Of Reconstructive Microsurgery Ltd New York, NY | $28,635 | $0 |
Difelice Foundation For Orthopaedics Inc New York, NY | $13,918 | $0 |
Hand Surgery Research And Education Foundation Inc Newton, MA | $16,489 | $0 |
Society For Functional Precision Medicine Boston, MA | $26,434 | $4,400 |
Parker Hill Orthopedic Researchfoundation Inc Winchester, MA | $160,324 | $0 |