Congress Medical Foundation
- Assets
- $349.5k
- Revenue
- $406.4k
- Investments
- $124.4k
- Employees
- 0
- Location
- Pasadena, CA
- Founding
- 01/2001
- Data as of
- 12/2022
- EIN
- 95-4815692
Organization Overview
Congress Medical Foundation is located in Pasadena, CA. The organization was established in 2001. According to its NTEE Classification (G05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Congress Medical 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 12/2022, Congress Medical Foundation generated $406.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 35.2% each year . All expenses for the organization totaled $634.9k during the year ending 12/2022. While expenses have increased by 44.4% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED VARIOUS RESEARCH PROJECTS, STUDIES AND LABS. THE FOLLOWING WERE SOME OF THE TOPICS:1. BIOMECHANICS OR RTSA AND MUSCLE TRANSFERS LD, PM, LT AND MT2. BIOMECHANICAL EFFECTS OF A BIOLOGICAL TUBEROPLASTY FOR MASSIVE IRREPARABLE ROTATOR CUFF TEARS3. COMPARISON OF FIBERLOCK SUSPENSIONPLASTY COMPARED TO FLEXOR CARPI RADIALIS LIGAMENT RECONSTRUCTION AND TENDON INTERPOSITION FOR TREATMENT OF THUMB CARPOMETACARPAL OSTEOARTHRITIS4. EFFECT OF SUBSCAPULARIS REPAIR LOCATION ON BIOMECHANICS OF REVERSE SHOULDER ARTHROPLASTY5. TENSIONABLE DISTAL BICEPS TENDON REPAIR WITH INTRAMEDULLARY, INTERLINKED 2.6 KNOTLESS FIBERTAKS AND SUTURETAG6. BIOMECHANICAL COMPARISON OF GLENOHUMERAL STABILITY BEFORE AND AFTER SLAP TEAR, AND SLAP REPAIR VERSUS BICEPS TENODESIS7. EFFECT OF GLENOSPHERE POSITION WITH LATERALIZED DESIGN REVERSE SHOULDER ARTHROPLASTY ON INFERIOR SCAPULAR NOTCHING8. THE EFFECT OF HUMERAL STEM LENGTH AND ALIGNMENT ON THE BIOMECHANICS IN REVERSE TOTAL SHOULDER ARTHROPLASTY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory J Adamson President | 5 | $0 | |
William Costigan Vice President | 3 | $0 | |
Rishi Garg Vice President | 3 | $0 | |
Michael J Fraipont Secretary | 3 | $0 | |
James A Shankwiler C.f.o. | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thay Q Lee Phd Inc | 12/30/22 | $297,759 |
Michelle Mcgarry Inc | 12/30/22 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $397,409 |
| Interest on Savings | $10 |
| Dividends & Interest | $5,103 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,537 |
| Capital Gain Net Income | $3,537 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $349 |
| Total Revenue | $406,408 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $260 |
| Depreciation | $6,673 |
| Occupancy | $125,661 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $493,222 |
| Total operating and administrative expenses | $634,946 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $634,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,931 |
| Savings and temporary cash investments | $2,095 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $92,012 |
| Other assets | $0 |
| Total assets | $349,459 |
| Accounts payable and accrued expenses | $1,537 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,537 |
Grants Awarded
Over the last fiscal year, Congress Medical Foundation has awarded $13,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MICHELLE H MCGARRY MS PURPOSE: RESEARCH | $12,000 |
HENRY J KAISER FAMILY FOUNDATION PURPOSE: RESEARCH | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Proteogenomics Research Institute For Systems Medicine San Diego, CA | $604,813 | $6,513,962 |
Coalition For Reasonable Vaping Regulation San Francisco, CA | $0 | $1,577,251 |
San Diego Spine Foundation San Diego, CA | $2,246,459 | $1,290,239 |
International Society For Peritoneal Dialysis Los Altos, CA | $2,770,117 | $1,141,698 |
Congress Medical Foundation Pasadena, CA | $349,459 | $406,408 |
Unity Project Of California Laguna Beach, CA | $0 | $476,045 |
T1international Usa Portland, OR | $341,168 | $373,984 |
Global Viral Burlingame, CA | $33,471 | $39 |
Whittemore Peterson Institute Reno, NV | $937,641 | $290,630 |
Covid Detection Foundation Los Altos, CA | $105,348 | $317,915 |
American Board Of Radiology Foundation Tucson, AZ | $1,693,898 | $24,482 |
Cardiovascular Institute Of Chicago Phoenix, AZ | $0 | $10,457 |
Rare Science Encinitas, CA | $9,260 | $0 |
Coral Caye Foundation La Habra, CA | $12,974 | $0 |
Arnew Foundation Walnut Creek, CA | $0 | $397 |
Reengineering Healthcare Inc Newport Beach, CA | $105 | $0 |
Brandy Gillmore Foundation Corp Beverly Hills, CA | $0 | $0 |
Cancer Schmancer Malibu, CA | $5,197 | $0 |