Civic Intelligence

Plastic Surgery Foundation

990 • Fiscal year 2021 • EIN 59-6144450

Jul 01, 2020 to Jun 30, 2021 • Filed on Feb 28, 2022

444 East Algonquin RoadArlington Heights, IL 60005

(847) 228-9900

Siviq Scores

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

Liabilities / Assets

31st percentile

0.05x

Higher debt load relative to assets than 31% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

60th percentile

0.34x

Higher debt load relative to revenue than 60% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

29th percentile

2.9%

Higher net margin than 29% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

92nd percentile

$510,886

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 13.7% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

54th percentile

12%

Faster asset growth than 54% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

7th percentile

-35%

Faster revenue growth than 7% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$23,860,142

Up $2,479,083 (+12%) from 2020

Net Assets

Up

$22,605,427

Up $2,407,096 (+12%) from 2020

Liabilities

Up

$1,254,715

Up $71,987 (+6.1%) from 2020

Revenue

Down

$3,721,510

Down $1,986,214 (-35%) from 2020

Expenses

Up

$3,612,170

Up $156,757 (+4.5%) from 2020

Net Income

Down

$109,340

Down $2,142,971 (-95%) from 2020

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $16,338,965Liabilities 2011: $2,055,923Net Assets 2011: $14,283,0422011Assets 2012: $14,795,096Liabilities 2012: $1,934,508Net Assets 2012: $12,860,5882012Assets 2013: $15,200,044Liabilities 2013: $1,946,269Net Assets 2013: $13,253,7752013Assets 2014: $16,322,403Liabilities 2014: $2,103,730Net Assets 2014: $14,218,6732014Assets 2015: $15,698,731Liabilities 2015: $370,590Net Assets 2015: $15,328,1412015Assets 2016: $15,811,470Liabilities 2016: $319,428Net Assets 2016: $15,492,0422016Assets 2017: $17,231,847Liabilities 2017: $449,646Net Assets 2017: $16,782,2012017Assets 2018: $19,023,646Liabilities 2018: $460,353Net Assets 2018: $18,563,2932018Assets 2019: $19,446,133Liabilities 2019: $897,446Net Assets 2019: $18,548,6872019Assets 2020: $21,381,059Liabilities 2020: $1,182,728Net Assets 2020: $20,198,3312020Assets 2021: $23,860,142Liabilities 2021: $1,254,715Net Assets 2021: $22,605,4272021Assets 2022: $20,706,822Liabilities 2022: $891,338Net Assets 2022: $19,815,4842022Assets 2023: $21,555,153Liabilities 2023: $650,832Net Assets 2023: $20,904,3212023Assets 2024: $23,118,853Liabilities 2024: $500,879Net Assets 2024: $22,617,9742024

Highlighted filing

2021

Assets$23,860,142
Liabilities$1,254,715
Net Assets$22,605,427

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $3,973,828Expenses 2011: $2,621,507Net Income 2011: $1,352,3212011Expenses 2012: $2,013,0622012Revenue 2013: $2,294,589Expenses 2013: $2,093,614Net Income 2013: $200,9752013Revenue 2014: $2,627,492Expenses 2014: $2,439,664Net Income 2014: $187,8282014Revenue 2015: $4,157,973Expenses 2015: $2,312,887Net Income 2015: $1,845,0862015Revenue 2016: $2,544,094Expenses 2016: $2,306,312Net Income 2016: $237,7822016Revenue 2017: $3,770,391Expenses 2017: $2,665,248Net Income 2017: $1,105,1432017Revenue 2018: $4,436,469Expenses 2018: $2,599,439Net Income 2018: $1,837,0302018Revenue 2019: $2,934,268Expenses 2019: $3,151,976Net Income 2019: -$217,7082019Revenue 2020: $5,707,724Expenses 2020: $3,455,413Net Income 2020: $2,252,3112020Revenue 2021: $3,721,510Expenses 2021: $3,612,170Net Income 2021: $109,3402021Revenue 2022: $3,350,609Expenses 2022: $3,785,429Net Income 2022: -$434,8202022Revenue 2023: $3,683,114Expenses 2023: $3,353,335Net Income 2023: $329,7792023Revenue 2024: $3,737,146Expenses 2024: $2,926,959Net Income 2024: $810,1872024

Highlighted filing

2021

Revenue$3,721,510
Expenses$3,612,170
Net Income$109,340
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 28, 2022
Return Version
2020v4.2
Gross Receipts
$13,846,522
Mission and Program Overview

Mission

The psf promotes the highest standards in research and education for plastic surgery, our members, and their patients.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$13,358,603$15,732,352▲ $2,373,749
Savings and Temporary Cash Investments$3,222,190$4,646,600▲ $1,424,410
Investments Other Securities$1,445,498$1,685,585▲ $240,087
Pledges and Grants Receivable$2,249,746$818,015▼ $1,431,731
Accounts Receivable$68,821$153,757▲ $84,936
Cash and Non-Interest-Bearing Accounts$171,567$150,590▼ $20,977
Land, Buildings, and Equipment, Net$288,767$58,198▼ $230,569
Prepaid Expenses and Deferred Charges$34,942$37,287▲ $2,345
Total Assets$21,381,059$23,860,142▲ $2,479,083
Other Assets Total$540,925$577,758▲ $36,833
Liabilities
Accounts Payable and Accrued Expenses$796,438$1,121,813▲ $325,375
Deferred Revenue$386,290$132,902▼ $253,388
Total Liabilities$1,182,728$1,254,715▲ $71,987
Net Assets / Fund Balance
Net Assets With Donor Restrictions$12,143,221$13,113,410▲ $970,189
Net Assets Without Donor Restrictions$8,055,110$9,492,017▲ $1,436,907
Total Net Assets Fund Balance$20,198,331$22,605,427▲ $2,407,096
Total Liabilities and Net Assets / Fund Balance$21,381,059$23,860,142▲ $2,479,083

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$58,198$857,920$916,118
Other Securities$23,749--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$7,479,666$1,500▲ $1,808,591$38,277$9,087,156
2020$7,812,937-▲ $89,782$45,177$7,479,666
2019$7,755,004-▲ $498,979$48,052$7,812,937
2018$7,146,474$656,928▲ $405,511$56,256$7,755,004
2017$6,953,772-▲ $557,764$47,135$7,146,474
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joseph Losee MdAsps PresidentPT-$78,808$78,808
C Scott Hultman MdImmediate Past Psf PresidentPT$58,822-$58,822
Gayle Gordillo MdPsf PresidentPT$23,679-$23,679

Board Members and Trustees

NameTitle
J Peter Rubin MdAsps President - Elect
Lynn Jeffers MdImmediate Past Asps President
Alan Matarasso MdImmediate Past Asps President - Past
Andrea Pusic MdImmediate Past Psf President - Past
Bernard Lee MdPsf President - Elect
Michael CostelloeExecutive Vice President
Mark EspinosaSr. Vice President and CFO
Nicholas Vedder MdAsps Trustee
Robert Murphy MdAsps Trustee
David Mathes MdAsps Trustee - Past
James Grotting MdAsps Trustee - Past
Gina T McclureExecutive Director, Psf
Kyle Eberlin MdAahs Representative
Vu Nguyen MdAcaps Representative
Anand Kumar MdAsms Representative
David Brown MdAspn Representative
Joseph Disa MdAsrm Representative
Michael Miller MdAsrm Representative - Past
Bruce Mast MdBvp - Academic Affairs
Scot Glasberg MdBvp - Development
Scott Hollenbeck MdBvp - Education
C Bob Basu MdBvp - Finance & Treasurer
Gregory Greco MdBvp - Health Policy & Advocacy
Steven Williams MdBvp - Membership
Howard Levinson MdBvp - Research
Yur-ren Kuo MdInternational Representative
Nigel Mercer MdInternational Representative - Past
Gordon Lee MdMember at Large
Mary Ann Contogiannis MdMember at Large
Aviva Preminger MdMember at Large - Past
Paul Cederna MdNeps Council of Advisors Representative
Timothy King MdPsrc Representative
Lisa Gfrerer MdResident Representative
Joseph Lopez MdResident Representative - Past
Keith HumeSr. VP of Programs and Policy - Past
Michelle Roughton MdYps Representative
Warren Ellsworth MdYps Representative - Past
Revenue and Support

Revenue Composition

Contributions and Grants
$2,662,369
Program Service Revenue
$0
Investment Income
$1,075,106
Other Revenue
$-15,965
All Other Contributions
$2,466,048
Change in Net Assets
$109,340

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,633,718
Revenue Not Reported on Financial Statements
$87,792
Revenue Not Reported on Form 990
$2,297,756
Total Revenue per Audited Statements
$5,931,474
Total Revenue per Form 990
$3,721,510
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,405,869
Other Expenses$1,333,864
Salaries, Compensation, and Employee Benefits$872,437
Total Fundraising Expense$294,785
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,405,869--$1,405,869
Other Salaries and Wages$583,963$34,721$170,774$789,458
Office Expenses$379,609$21,451$104,448$505,508
Fees for Services Other$352,337-$650$352,987
Depreciation Depletion$230,569--$230,569
Fees for Service Investment Mgmnt Fees-$87,792-$87,792
Current Officers, Directors, Trustees, and Key Employees-$82,979-$82,979
Fees for Services Legal$41,023$20,694$156$61,873
Information Technology$33,293-$3,497$36,790
Conferences and Meetings$19,511$595$15,212$35,318
Fees for Services Accounting-$21,000-$21,000
Advertising$1,731--$1,731
Travel-$248$48$296
Total Functional Expenses$3,047,905$269,480$294,785$3,612,170

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,612,170
Expenses per Audited Statements$3,524,378
Total Expenses per Audited Statements$3,524,378
Expenses Not Reported on Financial Statements$87,792
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Palo Alto Veterans Institute for ResearchPalo Alto, CA501c3Research Funding$300,000
Regents of the University of MichiganAnn Arbor, MI501c3Research Funding$174,089
Case Western Reserve UnivCleveland, OH501c3Research Funding$109,921
Regents of the University of CaliforniaLa Jolla, CA501c3Research Funding$103,398
Memorial Sloan Kettering Cancer CenterNew York, NY501c3Research Funding$82,500
Northwestern UniveristyEvanston, IL501c3Research Funding$50,000
Saint Louis UniversitySt Louis, MO501c3Research Funding$50,000
Stanford UniversitySan Francisco, CA501c3Research Funding$50,000
Washington UniversitySt Louis, MO501c3Research Funding$50,000
BRIGHAM & WOMEN'S HOSPITAL INCBoston, MA501c3Research Funding$27,500
Johns Hopkins UniversityChicago, IL501c3Research Funding$25,000
Trustees of the University of PennsylvaniaPhiladelphia, PA501c3Research Funding$24,996
Airs FoundationDallas, TX501c3Research Funding$15,000
American Association of Plastic SurgeonsBeverly, MA501c3Research Funding$15,000
Cagno Breastoration FundNew Orleans, LA501c3Research Funding$15,000
EVELYN'S BREAST FRIENDS FOREVERHarbor City, CA501c3Research Funding$15,000
Marinlink Inc Breastoration InkSan Rafael, CA501c3Research Funding$15,000
Mission PlasticosOrange, CA501c3Research Funding$15,000
ST JOHN'S HEALTHCARE FOUNDATIONOxnard, CA501c3Research Funding$15,000
University of Pittsburgh Medical CenterPittsburgh, PA501c3Research Funding$15,000
Kalispell Regional Healthcare FoundationKalispell, MT501c3Research Funding$12,060
BRIGHAM AND WOMEN'S HOSPITAL INCBoston, MA501c3Research Funding$10,000
Board of Trustees of Leland Stanford Junior UniversityRedwood, CA501c3Research Funding$10,000
Board of the Regents of the University of WisconsinMilwaukee, WI501c3Research Funding$10,000
Medstar Health Research Institute IncBoston, MA501c3Research Funding$10,000
Trustees of Indiana UniversityBloomington, IN501c3Research Funding$10,000
Ucla RegentsLos Angeles, CA501c3Research Funding$10,000
University of VirginiaCharlottesville, VA501c3Research Funding$10,000
Icahn School of Medicine at Mount SinaiNew York, NY501c3Research Funding$9,999
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$29,015
Fundraising Gross Income$13,050
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Silent Auction$18,779-$2,065-
National Bra Fund 5k$190,592$13,050$20,125$-7,075
Total Events$209,371$13,050$29,015$-15,965
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Prior to filing with the irs, a copy of the foundation's form 990 and supporting schedules are first distributed to and reviewed by the foundation's audit committee and then subsequently are placed on a secure website so that the foundation's board of directors may review the documents prior to filing with the irs. Any questions, comments, or proposed changes are directed to the foundation's staff vice president of finance & administration and any changes are made prior to filing.

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

In 2015, asps/psf adopted a policy on conflicts of interest and a disclosure statement applicable to its officers, directors, trustees, committee chairs, committee members, senior administrative staff, the editor and members of the editorial board of the society's journal and others holding leadership positions. Each of the affected individuals signs and submits to the secretary annually a completed disclosure statement setting forth interests that could give rise to conflicts. Additionally, all board, executive committee, and committee members are required to disclose at the outset of meetings any additional conflicts that may not have been contained in the written disclosure statement. The president, executive vice president of the foundation, and the conflict of interest committee chair, in consultation with legal counsel, review the conflict of interest disclosure statements in advance of meetings and takes steps to ensure that those who have conflicts do not participate in the discussion and action taken on a particular matter.

Form 990, Part VI, Section C, Line 19

The organization does not make its governing documents, conflicts of interest policy and financial statements generally available to the public. However, if a member of the public asks for a particular governing document, such as the foundation's bylaws or code of ethics, the foundation makes those documents available.

Filing and Contact Details

Filer

Filer Name
Plastic Surgery Foundation
EIN
59-6144450
Phone
8472289900
Address
444 EAST ALGONQUIN ROAD, ARLINGTON HEIGHTS, IL 60005

Signing Officer

Name
Mark Espinosa
Title
Senior Vice President, CFO
Phone
8472289900
Signed
2022-02-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Espinosa
Formed
1948
Legal Domicile
Il
Voting Board Members
26
Independent Board Members
22
Employees
0
Volunteers
741

Preparer

Firm
Legacy Professionals Llp
Address
4 WESTBROOK CORPORATE CTR 700, WESTCHESTER, IL 60154
Preparer
Ronald Bastian
Phone
3123680500
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

The organization uses the investment earnings of the endowment fund to fund grants to further research in the field of plastic surgery. Also funds may be withdrawn from the endowment fund to be used exclusively for such purposes as specified by the board of directors in authorizing the withdrawal.

PART X, LINE 2:

The foundation is exempt from federal income tax under section 501(c)(3) of the internal revenue code. The foundation is not considered to be a private foundation within the meaning of section 509(a) of the internal revenue code. Accounting principles generally accepted in the united states of america require the foundation 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 tax authorities. The foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

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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/ActivityOrMissionDesc0THE PSF PROMOTES THE HIGHEST STANDARDS IN RESEARCH AND EDUCATION FOR PLASTIC SURGERY, OUR MEMBERS, AND THEIR PATIENTS.
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IRS990/Form990PartVIISectionAGrp/PersonNm11STEVEN WILLIAMS MD
IRS990/Form990PartVIISectionAGrp/PersonNm12SCOTT HOLLENBECK MD
IRS990/Form990PartVIISectionAGrp/PersonNm13BRUCE MAST MD
IRS990/Form990PartVIISectionAGrp/PersonNm14C BOB BASU MD
IRS990/Form990PartVIISectionAGrp/PersonNm15MICHAEL COSTELLOE
IRS990/Form990PartVIISectionAGrp/PersonNm16DAVID BROWN MD
IRS990/Form990PartVIISectionAGrp/PersonNm17KYLE EBERLIN MD
IRS990/Form990PartVIISectionAGrp/PersonNm18TIMOTHY KING MD
IRS990/Form990PartVIISectionAGrp/PersonNm19ANAND KUMAR MD
IRS990/Form990PartVIISectionAGrp/PersonNm20VU NGUYEN MD
IRS990/Form990PartVIISectionAGrp/PersonNm21PAUL CEDERNA MD
IRS990/Form990PartVIISectionAGrp/PersonNm22MARY ANN CONTOGIANNIS MD
IRS990/Form990PartVIISectionAGrp/PersonNm23JOSEPH DISA MD
IRS990/Form990PartVIISectionAGrp/PersonNm24MICHAEL MILLER MD
IRS990/Form990PartVIISectionAGrp/PersonNm25LISA GFRERER MD
IRS990/Form990PartVIISectionAGrp/PersonNm26JOSEPH LOPEZ MD
IRS990/Form990PartVIISectionAGrp/PersonNm27YUR-REN KUO MD
IRS990/Form990PartVIISectionAGrp/PersonNm28NIGEL MERCER MD
IRS990/Form990PartVIISectionAGrp/PersonNm29GORDON LEE MD
IRS990/Form990PartVIISectionAGrp/PersonNm30AVIVA PREMINGER MD
IRS990/Form990PartVIISectionAGrp/PersonNm31ROBERT MURPHY MD
IRS990/Form990PartVIISectionAGrp/PersonNm32NICHOLAS VEDDER MD
IRS990/Form990PartVIISectionAGrp/PersonNm33JAMES GROTTING MD
IRS990/Form990PartVIISectionAGrp/PersonNm34DAVID MATHES MD
IRS990/Form990PartVIISectionAGrp/PersonNm35MICHELLE ROUGHTON MD
IRS990/Form990PartVIISectionAGrp/PersonNm36WARREN ELLSWORTH MD
IRS990/Form990PartVIISectionAGrp/PersonNm37MARK ESPINOSA
IRS990/Form990PartVIISectionAGrp/PersonNm38KEITH HUME
IRS990/Form990PartVIISectionAGrp/PersonNm39GINA T MCCLURE
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IRS990/Form990PartVIISectionAGrp/TitleTxt0IMMEDIATE PAST ASPS PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1IMMEDIATE PAST ASPS PRESIDENT - PAST
IRS990/Form990PartVIISectionAGrp/TitleTxt2IMMEDIATE PAST PSF PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3IMMEDIATE PAST PSF PRESIDENT - PAST
IRS990/Form990PartVIISectionAGrp/TitleTxt4ASPS PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5PSF PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6ASPS PRESIDENT - ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt7PSF PRESIDENT - ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt8BVP - DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9BVP - HEALTH POLICY & ADVOCACY
IRS990/Form990PartVIISectionAGrp/TitleTxt10BVP - RESEARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt11BVP - MEMBERSHIP
IRS990/Form990PartVIISectionAGrp/TitleTxt12BVP - EDUCATION

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.1$0.50$22.6$3.74$2.93$0.81
2023Detailed filing. Detailed filing data is available for this year.$21.6$0.65$20.9$3.68$3.35$0.33
2022Detailed filing. Detailed filing data is available for this year.$20.7$0.89$19.8$3.35$3.79$0.43
2021Detailed filing. Detailed filing data is available for this year.$23.9$1.25$22.6$3.72$3.61$0.11
2020Summary only. Only limited summary data is available for this year.$21.4$1.18$20.2$5.71$3.46$2.25
2019Detailed filing. Detailed filing data is available for this year.$19.4$0.90$18.5$2.93$3.15$0.22
2018Detailed filing. Detailed filing data is available for this year.$19.0$0.46$18.6$4.44$2.60$1.84
2017Detailed filing. Detailed filing data is available for this year.$17.2$0.45$16.8$3.77$2.67$1.11
2016Detailed filing. Detailed filing data is available for this year.$15.8$0.32$15.5$2.54$2.31$0.24
2015Detailed filing. Detailed filing data is available for this year.$15.7$0.37$15.3$4.16$2.31$1.85
2014Detailed filing. Detailed filing data is available for this year.$16.3$2.10$14.2$2.63$2.44$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.2$1.95$13.3$2.29$2.09$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.8$1.93$12.9$2.01
2011Summary only. Only limited summary data is available for this year.$16.3$2.06$14.3$3.97$2.62$1.35