Civic Intelligence

The Thoracic Surgery Foundation

990 • Fiscal year 2014 • EIN 36-3635910

Jul 01, 2013 to Jun 30, 2014 • Filed on May 13, 2015

Organization ProfileWWW.TSFRE.ORG
633 N St Clair 23rd Floor60611

(312) 202-5837

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

65th percentile

0.26x

Higher debt load relative to assets than 65% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

90th percentile

2.08x

Higher debt load relative to revenue than 90% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

3rd percentile

-83%

Higher net margin than 3% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

13th percentile

-8.6%

Faster asset growth than 13% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$2,545,857

Down $239,992 (-8.6%) from 2013

Net Assets

Down

$1,889,379

Down $140,784 (-6.9%) from 2013

Liabilities

Down

$656,478

Down $99,208 (-13%) from 2013

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin3rd percentile

Revenue

$316,041

No earlier filing loaded for comparison.

Expenses

Down

$577,310

Down $44,723 (-7.2%) from 2013

Net Income

-$261,269

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2012: $3,175,162Liabilities 2012: $889,013Net Assets 2012: $2,286,1492012Assets 2013: $2,785,849Liabilities 2013: $755,686Net Assets 2013: $2,030,1632013Assets 2014: $2,545,857Liabilities 2014: $656,478Net Assets 2014: $1,889,3792014Assets 2016: $3,065,524Liabilities 2016: $361,535Net Assets 2016: $2,703,9892016Assets 2017: $3,699,321Liabilities 2017: $296,636Net Assets 2017: $3,402,6852017Assets 2018: $3,887,726Liabilities 2018: $380,980Net Assets 2018: $3,506,7462018Assets 2019: $4,803,180Liabilities 2019: $468,059Net Assets 2019: $4,335,1212019Assets 2020: $5,251,287Liabilities 2020: $382,167Net Assets 2020: $4,869,1202020Assets 2021: $7,716,279Liabilities 2021: $540,331Net Assets 2021: $7,175,9482021Assets 2022: $8,089,405Liabilities 2022: $741,780Net Assets 2022: $7,347,6252022Assets 2023: $9,926,161Liabilities 2023: $2,419,774Net Assets 2023: $7,506,3872023Assets 2024: $11,401,896Liabilities 2024: $2,375,173Net Assets 2024: $9,026,7232024

Highlighted filing

2014

Assets$2,545,857
Liabilities$656,478
Net Assets$1,889,379
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $793,2162012Expenses 2013: $622,0332013Revenue 2014: $316,041Expenses 2014: $577,310Net Income 2014: -$261,2692014Revenue 2016: $1,536,324Expenses 2016: $945,991Net Income 2016: $590,3332016Revenue 2017: $1,546,386Expenses 2017: $998,708Net Income 2017: $547,6782017Revenue 2018: $1,561,172Expenses 2018: $1,234,592Net Income 2018: $326,5802018Revenue 2019: $1,896,136Expenses 2019: $1,274,991Net Income 2019: $621,1452019Revenue 2020: $1,400,211Expenses 2020: $1,108,220Net Income 2020: $291,9912020Revenue 2021: $3,432,295Expenses 2021: $1,131,926Net Income 2021: $2,300,3692021Revenue 2022: $2,542,826Expenses 2022: $1,621,236Net Income 2022: $921,5902022Revenue 2023: $2,905,516Expenses 2023: $3,305,471Net Income 2023: -$399,9552023Revenue 2024: $3,052,190Expenses 2024: $1,992,015Net Income 2024: $1,060,1752024

Highlighted filing

2014

Revenue$316,041
Expenses$577,310
Net Income-$261,269
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 13, 2015
Return Version
2013v4.0
Gross Receipts
$568,945
Mission and Program Overview

Mission

The mission of tsf is to foster the development of surgeon scientists in cardiothoracic surgery; increasing knowledge and innovation to benefit patient care.

The mission of tsfre is to foster the development of surgeon scientists in cardiothoracic surgery; increasing knowledge and innovation to benefit patient care.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,410,062$1,458,264▲ $48,202
Pledges and Grants Receivable$964,077$553,150▼ $410,927
Cash and Non-Interest-Bearing Accounts$394,752$532,790▲ $138,038
Prepaid Expenses and Deferred Charges$16,958$1,653▼ $15,305
Total Assets$2,785,849$2,545,857▼ $239,992
Liabilities
Grants Payable$621,848$645,562▲ $23,714
Accounts Payable and Accrued Expenses$133,838$10,916▼ $122,922
Total Liabilities$755,686$656,478▼ $99,208
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,001,719$1,739,774▼ $261,945
Unrestricted Net Assets$28,444$149,605▲ $121,161
Total Net Assets Fund Balance$2,030,163$1,889,379▼ $140,784
Total Liabilities and Net Assets / Fund Balance$2,785,849$2,545,857▼ $239,992
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
John H Calhoon MdPresident
W Randolph Chitwood MdVice President
Andrea J Carpenter MdDirector
Carl L Backer MdDirector
D Craig Miller MdDirector
David H Adams MdDirector
David J Sugarbaker MdDirector
John G Bryne MdDirector
Keith S Naunheim MdDirector
Marc R Moon MdDirector
R Scott Mitchell MdDirector
Richard N Pierson MdDirector
Robert J Cerfolio MdDirector
Yolonda L ColsonDirector
Priscilla S KennedyExecutive Director
David R Jones MdSecretary
John H Hammon MdTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
The Society Of Thoracic SurgeonsManagement-$189,562
Revenue and Support

Revenue Composition

Contributions and Grants
$228,399
Program Service Revenue
$0
Investment Income
$87,642
Other Revenue
$0
All Other Contributions
$228,399
Change in Net Assets
$-261,269

Audited Revenue Reconciliation

Revenue per Audited Statements
$307,752
Revenue Not Reported on Financial Statements
$8,289
Revenue Not Reported on Form 990
$120,485
Total Revenue per Audited Statements
$428,237
Total Revenue per Form 990
$316,041
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$377,500
Other Expenses$199,810
Total Fundraising Expense$450
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$377,500--$377,500
Fees for Services Management-$144,122-$144,122
Fees for Services Accounting-$14,700-$14,700
Office Expenses-$13,738-$13,738
Conferences and Meetings$12,040--$12,040
Fees for Service Investment Mgmnt Fees-$8,289-$8,289
Travel-$3,251-$3,251
Insurance-$2,608-$2,608
All Other Expenses-$524-$524
Other Expenses--$450$450
Information Technology-$73-$73
Fees for Services Legal-$15-$15
Total Functional Expenses$389,540$187,320$450$577,310

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$577,310
Expenses per Audited Statements$569,021
Total Expenses per Audited Statements$569,021
Expenses Not Reported on Financial Statements$8,289
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The society of thoracic surgeons (sts) of chicago, illinois, maintains the books and records of the organization and performs other related managerial and administrative functions for which it is compensated.”

Form 990, Part VI, Section B, Line 11

“The 990 is reviewed by the administrative staff of the management company (sts) and is then provided to the treasurer, and then governing body, for final review before it is filed.”

Form 990, Part VI, Section B, Line 12C

“Tsfre has a formal conflict of interest policy. All board and committee members are required to sign the policy and disclose conflicts annually. The signed policy and disclosures are sent to tsfre administration. They are recorded and monitored periodically throughout the year. If there is a conflict, it is brought to the attention of the board president for further action. The board president reads a disclosure statement at the beginning of each board meeting.”

Form 990, Part VI, Section B, Line 15

“Since there are no paid employees questions 13 and 15 do not apply to the organization.”

Form 990, Part VI, Section C, Line 18

“Form 990 is available to the public upon request at the administrative offices of the organization's management company (sts), and on the foundation's website.”

Form 990, Part VI, Section C, Line 19

“Governing documents, the conflict of interest policy and financial statements are available to the public upon request at the administrative offices of the organization's management company (sts).”

Form 990, Part VII, Section A - Compensation

“Priscilla s. Kennedy, tsfre executive director, is compensated by an affiliated organization, society of thoracic surgeons (sts). However, the majority of her time is devoted to the filing organization. Sts did not meet the definition of a related organization for the period covered by this return, and thus the compensation disclosures for part vii are not required.”

Filing and Contact Details

Filer

EIN
36-3635910
Phone
3122025837

Signing Officer

Name
John H Calhoon Md
Title
President
Phone
3122025837
Signed
2015-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John H Calhoon Md
Formed
1988
Legal Domicile
Il
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
17

Preparer

Preparer
Kimberly a Haumann
Phone
3122071040
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the foundation and recognize a tax liability if the foundation has taken an uncertain position that more likely than not would not be sustained upon examination by the irs or other applicable taxing authorities. Management has analyzed the tax positions taken by the foundation, and has concluded that as of june 30, 2014 and 2013, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations for years prior to 2011.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm0JOHN H CALHOON MD
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IRS990/Form990PartVIISectionAGrp/PersonNm2JOHN H HAMMON MD
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/GrantsPayableGrp/EOYAmt0645562
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt0377500
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0377500
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0303329
IRS990/GrossReceiptsAmt0568945
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt016
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt073
IRS990/InformationTechnologyGrp/TotalAmt073
IRS990/InsuranceGrp/ManagementAndGeneralAmt02608
IRS990/InsuranceGrp/TotalAmt02608
IRS990/InvestmentIncomeGrp/ExclusionAmt037217
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt037217
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt01410062
IRS990/InvestmentsPubTradedSecGrp/EOYAmt01458264
IRS990/IRPDocumentCnt02
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0IL
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0252904
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF TSFRE IS TO FOSTER THE DEVELOPMENT OF SURGEON SCIENTISTS IN CARDIOTHORACIC SURGERY; INCREASING KNOWLEDGE AND INNOVATION TO BENEFIT PATIENT CARE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt02030163
IRS990/NetAssetsOrFundBalancesEOYAmt01889379
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt050425
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt050425
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0120485
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt013738
IRS990/OfficeExpensesGrp/TotalAmt013738
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0ANNUAL REPORT
IRS990/OtherExpensesGrp/FundraisingAmt0450
IRS990/OtherExpensesGrp/TotalAmt0450
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0964077
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0553150
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt016958
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01653
IRS990/PrincipalOfficerNm0JOHN H CALHOON MD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0EXHIBIT BOOTHS, A/V, AND FOOD/BEVERAGE AT INDUSTRY CONFERENCES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt012040
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0253137
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0370000
IRS990/PYInvestmentIncomeAmt071041
IRS990/PYOtherExpensesAmt0252033
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-297855
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0622033
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0324178
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-261269
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt012650
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt037000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt049650
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0228399
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0253137
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01564174
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0566343
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0455653
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03067706
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt037217
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt033933
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt072980
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt054405
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt075872
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0274407
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt037217
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt033933
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt072980
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt054405
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt075872
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0274407
IRS990ScheduleA/InvestmentIncomeCYPct00.08210
IRS990ScheduleA/InvestmentIncomePYPct00.11700
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.90300
IRS990ScheduleA/PublicSupportPY509Pct00.87220
IRS990ScheduleA/PublicSupportTotal509Amt03018056
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt012650
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt037000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt049650
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0228399
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0253137
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01564174
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0566343
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0455653
IRS990ScheduleA/Total509Grp/TotalAmt03067706
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0265616
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0287070
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01637154
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0620748
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0531525
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03342113
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt08289
IRS990ScheduleD/ExpensesSubtotalAmt0569021
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt08289
IRS990ScheduleD/InvestmentExpensesNotIncldAmt08289
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0120485
IRS990ScheduleD/RevenueNotReportedAmt0120485
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt08289
IRS990ScheduleD/RevenueSubtotalAmt0307752
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF JUNE 30, 2014 AND 2013, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2011.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0577310
IRS990ScheduleD/TotalRevenuePerForm990Amt0316041
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0428237
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0569021
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt09500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt1120000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt280000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt317500
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt4150000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0CAROLYN REED TRAVELING FELLOWSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1BRAUNWALD GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2RESEARCH
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt3ALLEY-SHERIDAN SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt4TSFRE/NIH RESEARCH GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt15
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt22
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt37
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt48
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0EACH TSFRE GRANT PROJECT IS THOROUGHLY EVALUATED AND SCORED BY THREE TSFRE RESEARCH COMMITTEE REVIEWERS. THE RESEARCH REVIEWERS HAVE BEEN APPOINTED BY THE TSFRE PRESIDENT AND APPROVED BY THE TSFRE BOARD OF DIRECTORS, AND SPECIALIZE IN THORACIC SURGERY. THE GRANT APPLICANT IS REQUIRED TO SUBMIT HIS/HER APPLICATION INCLUDING CV, HIS/HER MENTOR'S CV, RESEARCH DESCRIPTION, PHOTO, AND THREE LETTERS OF RECOMMENDATION FROM THE APPLICANT'S SUPERIOR AT THE INSTITUTION OF WHICH THEY ARE APPLYING THE RESEARCH. THE LETTERS OF RECOMMENDATION MUST COME FROM DEPARTMENT CHAIRS, PROGRAM DIRECTORS, OR SPONSORS AT THE INSTITUTION IN WHICH THE RESEARCH OCCURS. THE APPLICANT'S SPONSOR'S CV IS ALSO EVALUATED. EACH TSFRE GRANT PAYMENT IS ISSUED TO THE INSTITUTION, NOT THE INDIVIDUAL. EACH SUBSEQUENT GRANT PAYMENT IS ISSUED AFTER THE APPLICANT SUBMITS A VALID PROGRESS REPORT, AND AFTER THE INSTITUTION SUPPLIES A SIGNED FINANCIAL PROGRESS REPORT VALIDATING THE EXPENSES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SOCIETY OF THORACIC SURGEONS (STS) OF CHICAGO, ILLINOIS, MAINTAINS THE BOOKS AND RECORDS OF THE ORGANIZATION AND PERFORMS OTHER RELATED MANAGERIAL AND ADMINISTRATIVE FUNCTIONS FOR WHICH IT IS COMPENSATED.

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,545,857
Liabilities
$656,478
Net assets
$1,889,379
Revenue
$316,041
Expenses
$577,310
Net income
-$261,269
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.4$2.38$9.03$3.05$1.99$1.06
2023Detailed filing. Detailed filing data is available for this year.$9.93$2.42$7.51$2.91$3.31$0.40
2022Detailed filing. Detailed filing data is available for this year.$8.09$0.74$7.35$2.54$1.62$0.92
2021Detailed filing. Detailed filing data is available for this year.$7.72$0.54$7.18$3.43$1.13$2.30
2020Detailed filing. Detailed filing data is available for this year.$5.25$0.38$4.87$1.40$1.11$0.29
2019Detailed filing. Detailed filing data is available for this year.$4.80$0.47$4.34$1.90$1.27$0.62
2018Detailed filing. Detailed filing data is available for this year.$3.89$0.38$3.51$1.56$1.23$0.33
2017Detailed filing. Detailed filing data is available for this year.$3.70$0.30$3.40$1.55$1.00$0.55
2016Detailed filing. Detailed filing data is available for this year.$3.07$0.36$2.70$1.54$0.95$0.59
2014Detailed filing. Detailed filing data is available for this year.$2.55$0.66$1.89$0.32$0.58$0.26
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.79$0.76$2.03$0.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.18$0.89$2.29$0.79