The Thoracic Surgery Foundation

“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.”

“The organization amended its bylaws during 2020. The following items were revised: article v- section 3: director terms last 3 years; however if there is no sts annual meeting in a particular year then terms will last until a successor is appointed, with the terms of appointed successors starting at a time determined by sts. Article-v- section 9: the denominator of a board quorum is the number of directors actually in office at a particular time. Article vi- section 2: updated documentation related to the staggering of officer terms.”

“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.”

“Tsf 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 tsf 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.”

“Compensation of the executive director is determined by a related organization, the society of thoracic surgeons of chicago. The related organization utilizes an independent compensation consultant, and compensation surveys or studies, to determine compensation of the executive director of tsf.”

“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.”

“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.”

“Compensation reported for priscilla s. Kennedy, tsf executive director, is paid by a related organization and common paymaster, the society of thoracic surgeons (sts) ein 36-3022713. Since all services performed by these individuals were for the thoracic surgery foundation, the compensation has been reported in column d as if paid by the filing organization. Sts has complied with payroll filing requirements.”