Civic Intelligence

Ctsnet Inc

990 • Fiscal year 2021 • EIN 36-4290294

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 01, 2022

Organization ProfileWWW.CTSNET.ORG

View Organization Page

633 N Saint Clair Street 2100Chicago, IL 60611

(312) 202-5848

Siviq Scores

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

Liabilities / Assets

29th percentile

0.04x

Higher debt load relative to assets than 29% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

43rd percentile

0.14x

Higher debt load relative to revenue than 43% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

97th percentile

61%

Higher net margin than 97% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

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

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Asset Growth

71st percentile

21%

Faster asset growth than 71% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

79th percentile

35%

Faster revenue growth than 79% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$4,452,471

Up $782,018 (+21%) from 2020

Net Assets

Up

$4,285,039

Up $695,670 (+19%) from 2020

Liabilities

Up

$167,432

Up $86,348 (+106%) from 2020

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin97th percentile

Revenue

Up

$1,184,407

Up $305,027 (+35%) from 2020

Expenses

Down

$464,823

Down $101,987 (-18%) from 2020

Net Income

Up

$719,584

Up $407,014 (+130%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $321,682Liabilities 2012: $261,758Net Assets 2012: $59,9242012Assets 2013: $350,392Liabilities 2013: $40,348Net Assets 2013: $310,0442013Assets 2014: $778,532Liabilities 2014: $60,592Net Assets 2014: $717,9402014Assets 2015: $1,299,280Liabilities 2015: $92,873Net Assets 2015: $1,206,4072015Assets 2016: $1,845,821Liabilities 2016: $114,049Net Assets 2016: $1,731,7722016Assets 2017: $2,412,767Liabilities 2017: $121,093Net Assets 2017: $2,291,6742017Assets 2018: $2,478,062Liabilities 2018: $41,000Net Assets 2018: $2,437,0622018Assets 2019: $3,186,266Liabilities 2019: $82,714Net Assets 2019: $3,103,5522019Assets 2020: $3,670,453Liabilities 2020: $81,084Net Assets 2020: $3,589,3692020Assets 2021: $4,452,471Liabilities 2021: $167,432Net Assets 2021: $4,285,0392021Assets 2022: $4,307,787Liabilities 2022: $109,259Net Assets 2022: $4,198,5282022Assets 2023: $4,830,045Liabilities 2023: $135,523Net Assets 2023: $4,694,5222023Assets 2024: $5,005,779Liabilities 2024: $84,425Net Assets 2024: $4,921,3542024

Highlighted filing

2021

Assets$4,452,471
Liabilities$167,432
Net Assets$4,285,039
Open 2021 Filing

Operations Trend

Revenue Growth79th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2012: $576,6692012Revenue 2013: $871,026Expenses 2013: $620,906Net Income 2013: $250,1202013Revenue 2014: $800,192Expenses 2014: $392,296Net Income 2014: $407,8962014Revenue 2015: $938,624Expenses 2015: $439,177Net Income 2015: $499,4472015Revenue 2016: $902,816Expenses 2016: $399,841Net Income 2016: $502,9752016Revenue 2017: $1,007,001Expenses 2017: $515,739Net Income 2017: $491,2622017Revenue 2018: $900,365Expenses 2018: $594,679Net Income 2018: $305,6862018Revenue 2019: $1,069,664Expenses 2019: $589,062Net Income 2019: $480,6022019Revenue 2020: $879,380Expenses 2020: $566,810Net Income 2020: $312,5702020Revenue 2021: $1,184,407Expenses 2021: $464,823Net Income 2021: $719,5842021Revenue 2022: $912,801Expenses 2022: $549,975Net Income 2022: $362,8262022Revenue 2023: $895,160Expenses 2023: $749,850Net Income 2023: $145,3102023Revenue 2024: $863,236Expenses 2024: $911,860Net Income 2024: -$48,6242024

Highlighted filing

2021

Revenue$1,184,407
Expenses$464,823
Net Income$719,584
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 1, 2022
Return Version
2021v4.2
Gross Receipts
$2,738,265
Mission and Program Overview

Mission

To connect the global cardiothoracic community.

Connect the global cardiothoracic community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$3,589,369$4,285,039▲ $695,670
Investments in Publicly Traded Securities$2,434,453$3,114,086▲ $679,633
Cash and Non-Interest-Bearing Accounts$1,042,726$976,450▼ $66,276
Accounts Receivable$73,965$225,766▲ $151,801
Land, Buildings, and Equipment, Net$76,465$95,410▲ $18,945
Prepaid Expenses and Deferred Charges$42,844$40,759▼ $2,085
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$3,670,453$4,452,471▲ $782,018
Liabilities
Deferred Revenue$77,833$164,875▲ $87,042
Accounts Payable and Accrued Expenses$3,251$2,557▼ $694
Total Liabilities$81,084$167,432▲ $86,348
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,589,369$4,285,039▲ $695,670
Total Liabilities and Net Assets / Fund Balance$3,670,453$4,452,471▲ $782,018

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$95,410$235,450$330,860
Compensation and Service Providers
Top Officer Pay25th percentile

Board Members and Trustees

NameTitle
Duke E Cameron MdPresident
Basel Ramlawi MdDirector
J Rafael Sadaba MdDirector
Mara B Antonoff MdDirector
Moritz C Wyler Von Ballmoos MdDirector
W Randolph Chitwood Jr MdDirector
Marisa Cevasco MdDirector (after May 2021)
Thomas K Varghese MdDirector (after May 2021)
David T Cooke MdDirector (through May 2021)
Pavan Atluri MdDirector (through May 2021)
Grahame RushExecutive Director
Patrick O Myers MdSecretary (after May 2021)
Domenico Pagano MdSecretary (through May 2021)
Joseph F Sabik MdTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
The Society Of Thoracic SurgeonsManagement Services633 N SAINT CLAIR STREET SUITE 210, Chicago, IL 60611$383,800
Revenue and Support

Revenue Composition

Contributions and Grants
$140,653
Program Service Revenue
$723,326
Investment Income
$319,828
Other Revenue
$600
All Other Contributions
$140,653
Change in Net Assets
$719,584
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$464,823
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$383,800
Information Technology---$41,021
Depreciation Depletion---$21,055
Fees for Service Investment Mgmnt Fees---$15,646
Fees for Services Other---$8,401
Office Expenses---$6,790
Insurance---$4,680
Fees for Services Accounting---$2,965
Advertising---$1,383
All Other Expenses---$1,224
Fees for Services Legal---$6
Other Expenses---$-23,213
Total Functional Expenses$0$0$0$464,823
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Per a management agreement between both parties, ctsnet has retained the society of thoracic surgeons (sts) to provide administrative management services and to perform such other duties and services as may be entrusted to sts by ctsnet in accordance with ctsnet's bylaws, articles of incorporation, rules and regulations and budget. The sts office serves as the headquarters for ctsnet. The employees of sts provide these services.”

Form 990, Part VI, Section A, Line 6

“Ctsnet is comprised of it's three founding members: society of thoracic surgeons (sts), american assocation for thoracic surgery (aats), and european association for cardio-thoracic surgery (eacts). In addition, ctsnet has participation agreements in place with over 30 cardiothoracic surgery professional organizations.”

Form 990, Part VI, Section A, Line 7A

“The board of directors is comprised of ten directors which are appointed by the members, four by sts, and three each by aats and eacts. Each director shall be appointed for a two year term and until his or her successor has been appointed and qualified. The officers (president, secretary, and treasurer) are elected by and from the board of directors. One representative from each member will serve the offices of president, secretary, and treasurer at all times, except during period of any unfilled vacancies.”

Form 990, Part VI, Section A, Line 7B

“The governing body is entirely made up of representatives from each of the three members”

Form 990, Part VI, Section B, Line 11B

“An electronic copy of form 990 is provided to the board of directors via email.”

Form 990, Part VI, Section C, Line 19

“The financial statements and organization's governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ctsnet Inc
EIN
36-4290294
Phone
3122025848
Address
633 N SAINT CLAIR STREET 2100, CHICAGO, IL 60611

Signing Officer

Name
Joseph Sabik Md
Title
Treasurer
Phone
3122025848
Signed
2022-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Sabik Md
Formed
1999
Legal Domicile
Il
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
30

Preparer

Firm
Cliftonlarsonallen Llp
Address
1301 WEST 22ND STREET SUITE 1100, OAK BROOK, IL 60523
Preparer
Melissa Struck
Phone
6305738600
Raw XML AppendixShowing 400 of 415 raw XML fields

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/OtherExpensesGrp/Desc2FEDERAL TAX REFUND
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IRS990/ProgramServiceRevenueGrp/Desc0WEB RESOURCES
IRS990/ProgramServiceRevenueGrp/Desc1EDUCATION
IRS990/ProgramServiceRevenueGrp/Desc2ADVERTISING
IRS990/ProgramServiceRevenueGrp/Desc3ORGANIZATIONAL SUPPORT
IRS990/ProgramServiceRevenueGrp/Desc4INDUSTRY FORUM
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1161721
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt248274
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt387552
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt46500
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2105765
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt46500
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt057491
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDES MEETING PRESENTATION AND EVENT-POSTING SERVICES FOR OVER 30 CARDIOTHORACIC SURGERY PROFESSIONAL ORGANIZATIONS. WEBSITE INCLUDES SECTIONS ON EXPERT TECHNIQUES, SURGICAL VIDEOS, SURGEON PROFILES, MEDICAL JOURNALS, RESIDENT-FOCUSED CONTENT, AND SPECIALTY-RELATED EVENTS.
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IRS990/PYOtherRevenueAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0566810
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0879380
IRS990/ReconcilationRevenueExpnssAmt0719584
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IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt095410
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0235450
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt095410
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PER A MANAGEMENT AGREEMENT BETWEEN BOTH PARTIES, CTSNET HAS RETAINED THE SOCIETY OF THORACIC SURGEONS (STS) TO PROVIDE ADMINISTRATIVE MANAGEMENT SERVICES AND TO PERFORM SUCH OTHER DUTIES AND SERVICES AS MAY BE ENTRUSTED TO STS BY CTSNET IN ACCORDANCE WITH CTSNET'S BYLAWS, ARTICLES OF INCORPORATION, RULES AND REGULATIONS AND BUDGET. THE STS OFFICE SERVES AS THE HEADQUARTERS FOR CTSNET. THE EMPLOYEES OF STS PROVIDE THESE SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CTSNET IS COMPRISED OF IT'S THREE FOUNDING MEMBERS: SOCIETY OF THORACIC SURGEONS (STS), AMERICAN ASSOCATION FOR THORACIC SURGERY (AATS), AND EUROPEAN ASSOCIATION FOR CARDIO-THORACIC SURGERY (EACTS). IN ADDITION, CTSNET HAS PARTICIPATION AGREEMENTS IN PLACE WITH OVER 30 CARDIOTHORACIC SURGERY PROFESSIONAL ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS IS COMPRISED OF TEN DIRECTORS WHICH ARE APPOINTED BY THE MEMBERS, FOUR BY STS, AND THREE EACH BY AATS AND EACTS. EACH DIRECTOR SHALL BE APPOINTED FOR A TWO YEAR TERM AND UNTIL HIS OR HER SUCCESSOR HAS BEEN APPOINTED AND QUALIFIED. THE OFFICERS (PRESIDENT, SECRETARY, AND TREASURER) ARE ELECTED BY AND FROM THE BOARD OF DIRECTORS. ONE REPRESENTATIVE FROM EACH MEMBER WILL SERVE THE OFFICES OF PRESIDENT, SECRETARY, AND TREASURER AT ALL TIMES, EXCEPT DURING PERIOD OF ANY UNFILLED VACANCIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING BODY IS ENTIRELY MADE UP OF REPRESENTATIVES FROM EACH OF THE THREE MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AN ELECTRONIC COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS VIA EMAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FINANCIAL STATEMENTS AND ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0633 N SAINT CLAIR STREET 2100
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
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IRS990/VotingMembersGoverningBodyCnt010
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IRS990/WebsiteAddressTxt0WWW.CTSNET.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CTSNET INC
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ReturnHeader/Filer/PhoneNum03122025848
ReturnHeader/Filer/USAddress/AddressLine1Txt0633 N SAINT CLAIR STREET 2100
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,452,471
Liabilities
$167,432
Net assets
$4,285,039
Revenue
$1,184,407
Expenses
$464,823
Net income
$719,584
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.01$0.08$4.92$0.86$0.91$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.83$0.14$4.69$0.90$0.75$0.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.31$0.11$4.20$0.91$0.55$0.36
2021Detailed filing. Detailed filing data is available for this year.$4.45$0.17$4.29$1.18$0.46$0.72
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.67$0.08$3.59$0.88$0.57$0.31
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.19$0.08$3.10$1.07$0.59$0.48
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.48$0.04$2.44$0.90$0.59$0.31
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.12$2.29$1.01$0.52$0.49
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$0.11$1.73$0.90$0.40$0.50
2015Detailed filing. Detailed filing data is available for this year.$1.30$0.09$1.21$0.94$0.44$0.50
2014Detailed filing. Detailed filing data is available for this year.$0.78$0.06$0.72$0.80$0.39$0.41
2013Detailed filing. Detailed filing data is available for this year.$0.35$0.04$0.31$0.87$0.62$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.26$0.06$0.58
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)6 • $1M-$5M nonprofits