The Chest Foundation FY2020 filing

Glenview, ILUnknown exempt organizationEIN 36-3286520Revenue $1.3M in FY2020

On file with the IRSchestfoundation.org2595 Patriot Blvd · Glenview, IL

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The CHEST Foundation's mission is to champion lung health.

88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $1.6M a year · 46% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Looks good: 18.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $42K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$861K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
-75% vs prior year
Spent
$1.5M
To programs
88%
Net assets
$20.5M
By yearFY2020–FY2022
Revenue
$1.3M
FY2020▼ -75%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.3M
FY2020$1.3M
FY2021$3.8M
FY2022$1.7M
Expenses
$1.5M
FY2020▼ -45%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.7M
FY2020$1.5M
FY2021$1.7M
FY2022$1.5M
Net assets
$20.5M
FY2020▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$19.7M
FY2020$20.5M
FY2021$21.1M
FY2022$18.9M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $1.3M Management & general 4% · $52K Fundraising 8% · $124K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
President/Immediate Past President and Trustee
$0Pt VII · Sec A
President-Elect/President and Trustee
$0Pt VII · Sec A
President-Elect and Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Chest Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Champions lung health through education and research.

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Provided by the organization

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2 programs · $1.3M · in their own filed words · FY2020
01

Since its inception, the chest foundation (the foundation) has offered members of the american college of chest physicians (chest) opportunities to secure grants for clinical research projects in disciplines of pulmonary, critical care, and sleep medicine, and on topics ranging from asthma to lung cancer.

$890Kprogram expense
02

The chest foundation develops, often with patient advocacy partners, high quality peer-reviewed patient education materials and tools across more than 60 lung health topics. The foundation disseminates those materials to patients, caregivers, the general public, as well as members of chest.

$428Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$42K
Grants paid · 109 grants · $2.8M · 2019–2022
American Thoracic SocietyNY · FY2022$67,667
American Thoracic SocietyNY · FY2022$51,838
Unitemized GrantFY2022$40,000
Harvard Medical SchoolMA · FY2022$30,000
NYU Grossman School of MedicineNY · FY2022$30,000
University of RochesterNY · FY2022$30,000
University of PittsburghPA · FY2022$30,000
NYU Grossman School of MedicineNY · FY2022$30,000
NYU Grossman School of MedicineNY · FY2022$20,000
Team Telomere INCID · FY2022$15,000
See all 109 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$889K
Investment incomeLn 3$436K
Fees for servicesLn 2g$4K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.3M
Managementcol C$52K
Fundraisingcol D$124K
Owns and owesPt X
$20.5M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$21.4M
LiabilitiesLn 26$861K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$889K
Fees for servicesLn 2g$4K
Investment incomeLn 3$436K
Gains on assetsLn 7$283K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
SavingsLn 2$2.3M
Cash and savings togetherLn 1–2$2.3M
InvestmentsLn 11–13$13.0M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$5.1M
Total assetsLn 16$21.4M
LiabilitiesLn 26$861K
Net assetsLn 32$20.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 675
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2.4M$2.3M
InvestmentsLn 11–13$11.5M$13.0M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$20.0M$21.4M
LiabilitiesLn 26$261K$861K
Net assetsLn 32$19.7M$20.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$777K$777K
Grants to domestic individualsLn 2$26K$26K
Grants and assistance to foreign recipientsLn 3$175K$175K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$17K$17K
Investment management feesLn 11f$31K$31K
Other fees for servicesLn 11g$282K$200K$0$83K
Advertising and promotionLn 12$80K$56K$135$24K
Office expensesLn 13$51K$33K$255$17K
Conferences, conventions and meetingsLn 19$51K$51K$197
Other expenses (24a–d)Ln 24$493$179$134$180
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$1.5M$1.3M$52K$124K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $1.7M$1.5M$212K$18.9M 990 PDF
FY2021 $3.8M$1.7M$2.1M$21.1M 990 PDF
FY2020 $5.3M$2.7M$2.6M$19.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $1,329,253 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,876,844$889,170
I-9 Program service revenuePrior year $5,850$3,788
I-10 Investment incomePrior year $403,656$436,295
I-11 Other revenuePrior year $37,564$0
I-12 Total revenuePrior year $5,323,914$1,329,253
I-13 Grants and similar amounts paidPrior year $1,222,503$978,160
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,506,671$515,894
I-18 Total expensesPrior year $2,729,174$1,494,054
I-19 Revenue less expensesPrior year $2,594,740−$164,801
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,329,253 across 6 lines filed
VIII-1f All other contributions, gifts and grants$889,170
VIII-1h Total contributions, gifts and grants$889,170
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,788$3,788
VIII-3 Investment incomeExcluded from tax $153,515$153,515
VIII-7 Net gain or loss on sales of assetsExcluded from tax $282,780$282,780
VIII-12 Total revenueRelated to mission $3,788 · Unrelated business $0 · Excluded from tax $436,295$1,329,253
Part IX · Statement of functional expenses $1,494,054 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $776,855$776,855
IX-2 Grants to domestic individualsPrograms $26,305$26,305
IX-3 Grants and assistance to foreign recipientsPrograms $175,000$175,000
IX-11b Legal feesManagement $3,510$3,510
IX-11c Accounting feesManagement $17,238$17,238
IX-11f Investment management feesManagement $30,844$30,844
IX-11g Other fees for servicesPrograms $199,540 · Management $0 · Fundraising $82,685$282,225
IX-12 Advertising and promotionPrograms $56,306 · Management $135 · Fundraising $23,723$80,164
IX-13 Office expensesPrograms $32,920 · Management $255 · Fundraising $17,400$50,575
IX-19 Conferences, conventions and meetingsPrograms $50,648 · Management $197$50,845
IX-24 Other expenses (24a–d)Programs $179 · Management $134 · Fundraising $180$493
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $1,317,753 · Management $52,313 · Fundraising $123,988$1,494,054
Part X · Balance sheet $21,388,261 assets, 15 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,439,503$2,346,787
X-3 Pledges and grants receivableStart of year $1,529,879$886,494
X-9 Prepaid expenses and deferred chargesStart of year $78,743$32,074
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $11,498,462$13,013,929
X-15 Other assetsStart of year $4,420,102$5,108,977
X-16 Total assetsStart of year $19,966,689$21,388,261
X-17 Accounts payable and accrued expensesStart of year $243,197$842,347
X-19 Deferred revenueStart of year $17,800$18,400
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $260,997$860,747
X-27 Net assets without donor restrictionsStart of year $13,978,691$15,021,990
X-28 Net assets with donor restrictionsStart of year $5,727,001$5,505,524
X-32 Total net assets or fund balancesStart of year $19,705,692$20,527,514
X-33 Total liabilities and net assetsStart of year $19,966,689$21,388,261
Part XI · Reconciliation of net assets $20,527,514 net assets at year end
XI-1 Total revenue$1,329,253
XI-2 Total expenses$1,494,054
XI-3 Revenue less expenses−$164,801
XI-4 Net assets at start of year$19,705,692
XI-5 Net unrealized gains (losses) on investments$986,623
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$20,527,514

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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