Civic Intelligence

Heart Valve Society

EIN 55-0870225 • 501(c)3 • Beverly, MA

Profile

To advance development, recognition, and knowledge in the area of heart valve diseases.

500 Cummings Center Suite 4400Beverly, MA 01915

heartvalvesociety.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

82nd percentile

0.36x

Higher debt load relative to assets than 82% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

0.21x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

14th percentile

-23%

Higher net margin than 14% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

60th percentile

$25,000

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

12th percentile

-24%

Faster asset growth than 12% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

52nd percentile

8.1%

Faster revenue growth than 52% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$339,514

Down $109,360 (-24%) from 2023

Liabilities

Up

$122,009

Up $25,391 (+26%) from 2023

Net Assets

Down

$217,505

Down $134,751 (-38%) from 2023

Operations
Liabilities / Revenue78th percentileNet Margin14th percentile

Revenue

Up

$592,971

Up $44,440 (+8.1%) from 2023

Expenses

Up

$726,543

Up $182,856 (+34%) from 2023

Net Income

Down

-$133,572

Down $138,416 (-2857%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth12th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2010: $130,859Liabilities 2010: $8,373Net Assets 2010: $122,4862010Assets 2011: $289,096Liabilities 2011: $25,341Net Assets 2011: $263,7552011Assets 2012: $196,074Liabilities 2012: $11,745Net Assets 2012: $184,3292012Assets 2013: $160,554Liabilities 2013: $15,9642013Assets 2014: $174,583Liabilities 2014: $0Net Assets 2014: $174,5832014Assets 2015: $302,206Liabilities 2015: $71,610Net Assets 2015: $230,5962015Assets 2016: $472,450Liabilities 2016: $66,403Net Assets 2016: $406,0472016Assets 2017: $324,213Liabilities 2017: $17,500Net Assets 2017: $306,7132017Assets 2018: $247,427Liabilities 2018: $11,563Net Assets 2018: $235,8642018Assets 2019: $248,310Liabilities 2019: $31,518Net Assets 2019: $216,7922019Assets 2020: $194,646Liabilities 2020: $575Net Assets 2020: $194,0712020Assets 2021: $193,082Liabilities 2021: $62,790Net Assets 2021: $130,2922021Assets 2022: $379,839Liabilities 2022: $32,978Net Assets 2022: $346,8612022Assets 2023: $448,874Liabilities 2023: $96,618Net Assets 2023: $352,2562023Assets 2024: $339,514Liabilities 2024: $122,009Net Assets 2024: $217,5052024

Highlighted filing

2024

Assets$339,514
Liabilities$122,009
Net Assets$217,505
Open 2024 Filing

Operations Trend

Revenue Growth52nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2010: $574,604Expenses 2010: $455,125Net Income 2010: $119,4792010Revenue 2011: $122,099Expenses 2011: $145,830Net Income 2011: -$23,7312011Expenses 2012: $591,4142012Revenue 2013: $146,211Expenses 2013: $185,950Net Income 2013: -$39,7392013Revenue 2014: $501,660Expenses 2014: $476,792Net Income 2014: $24,8682014Revenue 2015: $641,124Expenses 2015: $585,111Net Income 2015: $56,0132015Revenue 2016: $755,076Expenses 2016: $579,625Net Income 2016: $175,4512016Revenue 2017: $467,183Expenses 2017: $566,517Net Income 2017: -$99,3342017Revenue 2018: $746,517Expenses 2018: $817,366Net Income 2018: -$70,8492018Revenue 2019: $452,675Expenses 2019: $471,747Net Income 2019: -$19,0722019Revenue 2020: $377,069Expenses 2020: $399,790Net Income 2020: -$22,7212020Revenue 2021: $143,150Expenses 2021: $206,929Net Income 2021: -$63,7792021Revenue 2022: $715,419Expenses 2022: $541,884Net Income 2022: $173,5352022Revenue 2023: $548,531Expenses 2023: $543,687Net Income 2023: $4,8442023Revenue 2024: $592,971Expenses 2024: $726,543Net Income 2024: -$133,5722024

Highlighted filing

2024

Revenue$592,971
Expenses$726,543
Net Income-$133,572
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$339,514
Liabilities
$122,009
Net assets
$217,505
Revenue
$592,971
Expenses
$726,543
Net income
-$133,572
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.40$1.22$2.18$5.93$7.27$1.34
2023Summary only. Only limited summary data is available for this year.$4.49$0.97$3.52$5.49$5.44$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.80$0.33$3.47$7.15$5.42$1.74
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$0.63$1.30$1.43$2.07$0.64
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.95$0.01$1.94$3.77$4.00$0.23
2019Summary only. Only limited summary data is available for this year.$2.48$0.32$2.17$4.53$4.72$0.19
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.47$0.12$2.36$7.47$8.17$0.71
2017Summary only. Only limited summary data is available for this year.$3.24$0.18$3.07$4.67$5.67$0.99
2016Summary only. Only limited summary data is available for this year.$4.72$0.66$4.06$7.55$5.80$1.75
2015Summary only. Only limited summary data is available for this year.$3.02$0.72$2.31$6.41$5.85$0.56
2014Summary only. Only limited summary data is available for this year.$1.75$0.00$1.75$5.02$4.77$0.25
2013Summary only. Only limited summary data is available for this year.$1.61$0.16$1.46$1.86$0.40
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.96$0.12$1.84$5.91
2011Summary only. Only limited summary data is available for this year.$2.89$0.25$2.64$1.22$1.46$0.24
2010Summary only. Only limited summary data is available for this year.$1.31$0.08$1.22$5.75$4.55$1.19
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$592,971
Mission and Program Overview

Mission

To advance development, recognition, and knowledge in the area of heart valve diseases.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$18,464$112,267▲ $93,803
Cash and Non-Interest-Bearing Accounts$327,149$84,304▼ $242,845
Investments in Publicly Traded Securities-$52,137-
Savings and Temporary Cash Investments$100,078$50,105▼ $49,973
Prepaid Expenses and Deferred Charges$3,183$40,701▲ $37,518
Total Assets$448,874$339,514▼ $109,360
Liabilities
Accounts Payable and Accrued Expenses$9,273$93,279▲ $84,006
Deferred Revenue$87,345$28,730▼ $58,615
Total Liabilities$96,618$122,009▲ $25,391
Net Assets / Fund Balance
Net Assets With Donor Restrictions$142,104$121,919▼ $20,185
Net Assets Without Donor Restrictions$210,152$95,586▼ $114,566
Total Net Assets Fund Balance$352,256$217,505▼ $134,751
Total Liabilities and Net Assets / Fund Balance$448,874$339,514▼ $109,360
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleBaseTotal
Philippe Pibarot DvmDirector - Research$25,000$25,000

Board Members and Trustees

NameTitle
Carlijn Vc Bouten PhdImmediate Past President
Marta SitgesPast President
Ismail El-hammamsy Md PhdPresident
Samir KapadiaPresident-elect
Hector Michelena MdDirector - Cardiologist
Madalina Garbi MdDirector - Cardiologist
Paul SorajjaDirector - Cardiologist
Ralph Stephan Von Bardeleben MdDirector - Cardiologist
Elaine Tseng MdDirector - Research
Joy Lincoln PhdDirector - Research
Jessica ForcilloDirector - Surgeon
Juan Umana MdDirector - Surgeon
Yolanda Kluin MdDirector - Surgeon
Victory DayanLatin America Director
Jordan Miller PhdSecretary-treasurer
Emmanuel Lansac Md PhdSenior Advisor
Hanneke Takkenberg Md PhdSenior Advisor
Jane Grande-allenSenior Advisor
Jose Pomar Md PhdSenior Advisor
Vinod Thourani MdSenior Advisor
Kevin VeenVrn Coordinator

Highest Paid Contractors

ContractorServicesLocationCompensation
PrriManagement Services500 CUMMINGS CTR SUITE 4400, Beverly, MA 01915$142,321
Revenue and Support

Revenue Composition

Contributions and Grants
$260,448
Program Service Revenue
$330,360
Investment Income
$2,163
Other Revenue
$0
All Other Contributions
$260,448
Change in Net Assets
$-133,572
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$697,793
Salaries, Compensation, and Employee Benefits$25,000
Grants and Similar Amounts Paid$3,750
Total Fundraising Expense$1,365
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$279,294--$279,294
Fees for Services Management$58,156$82,800-$140,956
Current Officers, Directors, Trustees, and Key Employees$25,000--$25,000
Fees for Services Accounting-$12,180-$12,180
Office Expenses-$7,836-$7,836
Other Expenses$5,386--$5,386
Grants to Domestic Individuals$3,750--$3,750
Information Technology-$1,438-$1,438
All Other Expenses--$1,365$1,365
Insurance-$1,250-$1,250
Total Functional Expenses$619,674$105,504$1,365$726,543
International Activity

International Summary

Offices
0
Employees
0
Spending
$221,704

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland)Program ServicesAviator Project00$113,212
Europe (including Iceland & Greenland)Program ServicesMitral Project00$108,492
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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

“The professional relations and research institute (prri) of beverly, massachusetts, maintains the books and records of the association and performs other related managerial and administrative functions for which its compensated.”

Form 990, Part VI, Section A, Line 6

“The organization has three classes of members: active, associate, and candidate. Active members have voting rights.”

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

“Active members have the right to elect officers and members of the board of directors.”

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

“Active members have the right to vote on matters allowed under the law.”

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

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

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

“The conflict of interest policy is distributed, discussed and updated at each council meeting in order for the organization to monitor and enforce compliance with the policy by all officers and directors.”

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Heart Valve Society
EIN
55-0870225
Phone
9789278330
Address
500 CUMMINGS CENTER SUITE 4400, BEVERLY, MA 01915

Signing Officer

Name
Jordan Miller Phd
Title
Secretary-treasurer
Phone
9789278330
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ismail El-hammamsy Md P
Formed
2004
Legal Domicile
De
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
38

Preparer

Firm
GRASSI & CO CPA'S PC
Address
6 OMNI WAY SUITE 201, CHELMSFORD, MA 01824
Preparer
Brendan E Toolin
Phone
9784522500
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“Mital vrn - an international collaboration of physicans and scientists interested in advancing knowledge of mitral and tricuspid valve disease.”

FORM 990, PART XI, LINE 9:

“Net loss on foreign currency exchange -1,179.”

Financial Statement Notes

PART X, LINE 2:

“The society has been granted tax-exempt status under internal revenue code section 501(c)(3) and is, therefore, generally exempt from federal and state income taxes. Accordingly, no provision for income taxes has been provided for in the accompanying financial statements. Asc 740-10, income taxes, requires the society to evaluate and disclose tax positions that could have an effect on the society's financial statements. The society reports its activities to the internal revenue service, commonwealth of massachusetts, and new york state on an annual basis. These informational returns are generally subject to audit and review by the governmental agencies for a period of three years after filing. Substantially all of the societys income, expenditures and activities relate to its exempt purpose, therefore, management has determined that the society is not subject to unrelated business income taxes and will continue to qualify as a tax-exempt not-for-profit entity.”

Raw XML AppendixShowing 400 of 560 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.

Path#Value
IRS990/AccountantCompileOrReviewInd01
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt09273
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt093279
IRS990/AccountsReceivableGrp/BOYAmt018464
IRS990/AccountsReceivableGrp/EOYAmt0112267
IRS990/AcctCompileOrReviewBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO ADVANCE DEVELOPMENT, RECOGNITION, AND KNOWLEDGE IN THE AREA OF HEART VALVE DISEASES.
IRS990/AllOtherContributionsAmt0260448
IRS990/AllOtherExpensesGrp/FundraisingAmt01365
IRS990/AllOtherExpensesGrp/TotalAmt01365
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0PRRI
IRS990/BooksInCareOfDetail/PhoneNum09789278330
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0500 CUMMINGS CENTER SUITE 4400
IRS990/BooksInCareOfDetail/USAddress/CityNm0BEVERLY
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd001915
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0327149
IRS990/CashNonInterestBearingGrp/EOYAmt084304
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt025000
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt025000
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt0279294
IRS990/ConferencesMeetingsGrp/TotalAmt0279294
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0142321
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0500 CUMMINGS CTR SUITE 4400
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0BEVERLY
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0MA
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd001915
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0PRRI
IRS990/ContractorCompensationGrp/ServicesDesc0MANAGEMENT SERVICES
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0260448
IRS990/CYGrantsAndSimilarPaidAmt03750
IRS990/CYInvestmentIncomeAmt02163
IRS990/CYOtherExpensesAmt0697793
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0330360
IRS990/CYRevenuesLessExpensesAmt0-133572
IRS990/CYSalariesCompEmpBnftPaidAmt025000
IRS990/CYTotalExpensesAmt0726543
IRS990/CYTotalFundraisingExpenseAmt01365
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0592971
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt087345
IRS990/DeferredRevenueGrp/EOYAmt028730
IRS990/DelegationOfMgmtDutiesInd01
IRS990/Desc0ANNUAL SCIENTIFIC CONFERENCE - THE SOCIETY PROVIDES A FORUM TO ADVANCE DEVELOPMENT, RECOGNITION, AND KNOWLEDGE IN THE AREA OF HEART VALVE DISEASES.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
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IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0339450
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt012180
IRS990/FeesForServicesAccountingGrp/TotalAmt012180
IRS990/FeesForServicesManagementGrp/ManagementAndGeneralAmt082800
IRS990/FeesForServicesManagementGrp/ProgramServicesAmt058156
IRS990/FeesForServicesManagementGrp/TotalAmt0140956
IRS990/ForeignActivitiesInd01
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
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IRS990/Form990PartVIISectionAGrp/PersonNm0PHILIPPE PIBAROT DVM
IRS990/Form990PartVIISectionAGrp/PersonNm1ISMAIL EL-HAMMAMSY MD PHD
IRS990/Form990PartVIISectionAGrp/PersonNm2SAMIR KAPADIA
IRS990/Form990PartVIISectionAGrp/PersonNm3JORDAN MILLER PHD
IRS990/Form990PartVIISectionAGrp/PersonNm4CARLIJN VC BOUTEN PHD
IRS990/Form990PartVIISectionAGrp/PersonNm5MARTA SITGES
IRS990/Form990PartVIISectionAGrp/PersonNm6YOLANDA KLUIN MD
IRS990/Form990PartVIISectionAGrp/PersonNm7JESSICA FORCILLO
IRS990/Form990PartVIISectionAGrp/PersonNm8JUAN UMANA MD
IRS990/Form990PartVIISectionAGrp/PersonNm9JOY LINCOLN PHD
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IRS990/Form990PartVIISectionAGrp/PersonNm11HECTOR MICHELENA MD
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR - RESEARCH
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IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT-ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY-TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4IMMEDIATE PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR - SURGEON
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR - SURGEON
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR - SURGEON
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR - RESEARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR - RESEARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR - CARDIOLOGIST
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR - CARDIOLOGIST
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR - CARDIOLOGIST
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR - CARDIOLOGIST
IRS990/Form990PartVIISectionAGrp/TitleTxt15VRN COORDINATOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16LATIN AMERICA DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17SENIOR ADVISOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18SENIOR ADVISOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19SENIOR ADVISOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20SENIOR ADVISOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21SENIOR ADVISOR
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