The Chest Foundation: FY2021 Nonprofit Profile & Form 990 (EIN 36-3286520)

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.

$875Kprogram 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.

$363Kprogram 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

National Board for Respiratory Care INCFY2025$40K

Michael P Bennett Foundation INCFY2025$2K

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

Rector & Visitors of the University of VirginiaVA · FY2022$50,000

The Trustees of Columbia University in the City of New YorkNY · FY2022$50,000

The Methodist Hospital Research InsTX · FY2022$50,000

Unitemized GrantFY2022$40,000

Harvard Medical SchoolMA · FY2022$30,000

NYU Grossman School of MedicineNY · FY2022$30,000

University of Kansas Medical Center Research InstituteKS · FY2022$30,000

Mass General Brigham IncorporatedMA · FY2022$30,000

University of RochesterNY · FY2022$30,000

University of PittsburghPA · FY2022$30,000

NYU Grossman School of MedicineNY · FY2022$30,000

Case Western Reserve UniversityOH · FY2022$30,000

NYU Grossman School of MedicineNY · FY2022$20,000

Augusta University Research Institute INCGA · FY2022$15,000

University of Kansas Medical Center Research InstituteKS · FY2022$15,000

Team Telomere INCID · FY2022$15,000

See all 109 grants →

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$3.8M

Ln 12

Investment incomeLn 3$2.3M

Gifts and grantsLn 1h$1.6M

Fees for servicesLn 2g$2K

Money outPt IX

$1.7M

Ln 25

Programscol B$1.2M

Managementcol C$155K

Fundraisingcol D$293K

Owns and owesPt X

$21.1M

net assets · Ln 32

Cash and savingsLn 1–2$15.4M

Total assetsLn 16$22.1M

LiabilitiesLn 26$991K

PeoplePt VI, VII

16

listed · VII A

PaidVII A0

Voting boardVI 1a14

IndependentVI 1b14

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.6M

Noncash giftsLn 1g$8K

Fundraising eventsLn 1c$141K

Fees for servicesLn 2g$2K

Investment incomeLn 3$2.3M

Gains on assetsLn 7$2.0M

Total revenueLn 12$3.8M

Assets in detailPt X, end of year

SavingsLn 2$15.4M

Cash and savings togetherLn 1–2$15.4M

InvestmentsLn 11–13$1.1M

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$5.1M

Total assetsLn 16$22.1M

LiabilitiesLn 26$991K

Net assetsLn 32$21.1M

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$2.3M	$15.4M
InvestmentsLn 11–13	$13.0M	$1.1M
Land, buildings, equipmentLn 10c	$0	$0
Total assetsLn 16	$21.4M	$22.1M
LiabilitiesLn 26	$861K	$991K
Net assetsLn 32	$20.5M	$21.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$685K	$685K
Grants and assistance to foreign recipientsLn 3	$175K	$175K
Legal feesLn 11b	$14K		$14K
Accounting feesLn 11c	$27K		$27K
Investment management feesLn 11f	$64K		$64K
Other fees for servicesLn 11g	$282K	$195K	$24K	$63K
Advertising and promotionLn 12	$112K	$25K	$2K	$84K
Office expensesLn 13	$58K	$30K	$3K	$24K
TravelLn 17	$50K	$14K	$2K	$34K
Conferences, conventions and meetingsLn 19	$138K	$57K	$116	$81K
Other expenses (24a–d)Ln 24	$81K	$56K	$18K	$7K
All other expensesLn 24e	$0	$0	$0	$0
Total functional expensesLn 25	$1.7M	$1.2M	$155K	$293K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2022 Latest	$1.7M	$1.5M	$212K	$18.9M	990 PDF
FY2021 Viewing	$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 R · Related orgs G · Fundraising L · Interested persons I · Grants F · Foreign O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $3,819,051 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $889,170$1,575,797

I-9 Program service revenuePrior year $3,788$1,600

I-10 Investment incomePrior year $436,295$2,328,215

I-11 Other revenue−$86,561

I-12 Total revenuePrior year $1,329,253$3,819,051

I-13 Grants and similar amounts paidPrior year $978,160$860,000

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $515,894$826,105

I-18 Total expensesPrior year $1,494,054$1,686,105

I-19 Revenue less expensesPrior year −$164,801$2,132,946

Part VI · Governance 14 of 14 board members independent, 1 to look at

VI-1a Voting members of the governing body14

VI-1b Independent voting members14

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 $3,819,051 across 10 lines filed

VIII-1c Fundraising events$141,236

VIII-1d Related organizations$31,200

VIII-1f All other contributions, gifts and grants$1,403,361

VIII-1g Noncash contributions (included above)$7,540

VIII-1h Total contributions, gifts and grants$1,575,797

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,600$1,600

VIII-3 Investment incomeExcluded from tax $356,150$356,150

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,972,065$1,972,065

VIII-8 Net income from fundraising eventsExcluded from tax −$86,561−$86,561

VIII-12 Total revenueRelated to mission $1,600 · Unrelated business $0 · Excluded from tax $2,241,654$3,819,051

Part IX · Statement of functional expenses $1,686,105 across 12 lines filed

IX-1 Grants to domestic organizationsPrograms $685,000$685,000

IX-3 Grants and assistance to foreign recipientsPrograms $175,000$175,000

IX-11b Legal feesManagement $13,975$13,975

IX-11c Accounting feesManagement $27,487$27,487

IX-11f Investment management feesManagement $64,213$64,213

IX-11g Other fees for servicesPrograms $194,978 · Management $24,000 · Fundraising $63,036$282,014

IX-12 Advertising and promotionPrograms $25,173 · Management $2,088 · Fundraising $84,293$111,554

IX-13 Office expensesPrograms $30,115 · Management $3,166 · Fundraising $24,322$57,603

IX-17 TravelPrograms $14,140 · Management $1,807 · Fundraising $33,861$49,808

IX-19 Conferences, conventions and meetingsPrograms $57,311 · Management $116 · Fundraising $80,887$138,314

IX-24 Other expenses (24a–d)Programs $56,224 · Management $18,289 · Fundraising $6,624$81,137

IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0

IX-25 Total functional expensesPrograms $1,237,941 · Management $155,141 · Fundraising $293,023$1,686,105

Part X · Balance sheet $22,090,830 assets, 15 lines filed

X-2 Savings and temporary cash investmentsStart of year $2,346,787$15,369,084

X-3 Pledges and grants receivableStart of year $886,494$540,880

X-9 Prepaid expenses and deferred chargesStart of year $32,074$52,886

X-10c Land, buildings and equipment, netStart of year $0$0

X-11 Publicly traded securitiesStart of year $13,013,929$1,056,413

X-15 Other assetsStart of year $5,108,977$5,071,567

X-16 Total assetsStart of year $21,388,261$22,090,830

X-17 Accounts payable and accrued expensesStart of year $842,347$991,427

X-19 Deferred revenueStart of year $18,400$0

X-25 Other liabilitiesStart of year $0$0

X-26 Total liabilitiesStart of year $860,747$991,427

X-27 Net assets without donor restrictionsStart of year $15,021,990$15,943,135

X-28 Net assets with donor restrictionsStart of year $5,505,524$5,156,268

X-32 Total net assets or fund balancesStart of year $20,527,514$21,099,403

X-33 Total liabilities and net assetsStart of year $21,388,261$22,090,830

Part XI · Reconciliation of net assets $21,099,403 net assets at year end

XI-1 Total revenue$3,819,051

XI-2 Total expenses$1,686,105

XI-3 Revenue less expenses$2,132,946

XI-4 Net assets at start of year$20,527,514

XI-5 Net unrealized gains (losses) on investments−$1,561,057

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$21,099,403

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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The Chest Foundation FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for The Chest Foundation