The mission of tsf is to foster the development of surgeon scientists in cardiothoracic Surgery; increasing knowledge and innovation to benefit patient care.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 111 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $835K a year · 31% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
25 mo
of spending, in cash
Plus $6.2M in investments, Pt X · Ln 11–13
Looks good: 25.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.4M
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
+5% vs prior year
Spent
$2.0M
To programs
91%
Net assets
$9.0M
By yearFY2020–FY2024
Revenue
$3.1M
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$3.4M
FY2022$2.5M
FY2023$2.9M
FY2024$3.1M
Expenses
$2.0M
FY2024▼ -40%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.1M
FY2022$1.6M
FY2023$3.3M
FY2024$2.0M
Net assets
$9.0M
FY2024▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.9M
FY2021$7.2M
FY2022$7.3M
FY2023$7.5M
FY2024$9.0M

From the FY2024 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: FY2024. IRS ruling in Mar 1990.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $1.8M Management & general 6% · $117K Fundraising 3% · $69K

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

18 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director - Started 01/26/24
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Lee Wiensch$155,733$26,906——
Priscilla Kennedy—$28,834$104,721$101,937

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Thoracic Surgery 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

Supports surgeon scientists in cardiothoracic surgery to advance patient care.

Questions for The Thoracic Surgery Foundation

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Provided by the organization

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3 programs · $1.8M · in their own filed words · FY2024
01

12 research awards to fund clinical, applied, and data-focused research in all disciplines of the cardiothoracic surgery specialty. Most awards are granted for a two-year term, and are subject to a rigorous, nih-style review and selection process administered by expert surgeon scientists.

$965Kprogram expense
02

109 surgical outreach & educational awards. The surgical outreach awards provide funding for surgical outreach and training in underserved areas around the world. These awards support trips for full surgical teams and individual international medical volunteers, primarily focusing on treating rheumatic heart disease and congenital…

$624Kprogram expense
03

44 education awards to provide short-term traveling fellowship experiences for surgeons in all disciplines of the cardiothoracic surgery specialty to learn a specific surgical technique from an expert in the field. Awardees then bring new expertise to their home institutions to improve the care of patients in their region.

$186Kprogram 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 1 funder$1K
Grants paid · 125 grants · $7.8M · 2020–2024
Unitemized GrantFY2024$290,000
Unitemized GrantFY2024$180,000
Unitemized GrantFY2024$110,000
Unitemized GrantFY2024$100,000
Unitemized GrantFY2024$100,000
Unitemized GrantFY2024$80,000
Unitemized GrantFY2024$80,000
Duke UniversityNC · FY2024$70,000
Unitemized GrantFY2024$40,000
Peruvian American Medical SocietyFY2024$37,200
Unitemized GrantFY2024$35,000
William Novick Global Cardiac AllianceCT · FY2024$35,000
The Voom FoundationTX · FY2024$35,000
Upmc Pinnacle FoundationPA · FY2024$35,000
University of WashingtonFY2024$35,000
University of UtahUT · FY2024$35,000
The University of Texas at AustinFY2024$35,000
Regents of the University of MinnesotaFY2024$35,000
See all 125 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.1M
Ln 12
Gifts and grantsLn 1h$2.8M
Investment incomeLn 3$237K
Money outPt IX
$2.0M
Ln 25
Programscol B$1.8M
Managementcol C$117K
Fundraisingcol D$69K
Owns and owesPt X
$9.0M
net assets · Ln 32
Cash and savingsLn 1–2$4.2M
Total assetsLn 16$11.4M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.8M
Noncash giftsLn 1g$16K
Investment incomeLn 3$237K
Gains on assetsLn 7$31K
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$4.0M
SavingsLn 2$125K
Cash and savings togetherLn 1–2$4.2M
InvestmentsLn 11–13$6.2M
Land, buildings, equipmentLn 10c$56K
Other assetsLn 15$0
Total assetsLn 16$11.4M
LiabilitiesLn 26$2.4M
Net assetsLn 32$9.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6111
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 FY24End FY24
Cash and savingsLn 1–2$3.4M$4.2M
InvestmentsLn 11–13$5.4M$6.2M
Land, buildings, equipmentLn 10c$935$56K
Total assetsLn 16$9.9M$11.4M
LiabilitiesLn 26$2.4M$2.4M
Net assetsLn 32$7.5M$9.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$437K$437K
Grants to domestic individualsLn 2$1.2M$1.2M
Grants and assistance to foreign recipientsLn 3$200K$200K
Pay of current officers, directors and key staffLn 5$0$0$0$0
Legal feesLn 11b$12K$12K
Accounting feesLn 11c$34K$34K
Investment management feesLn 11f$36K$36K
Other fees for servicesLn 11g$33K$15K$10K$8K
Advertising and promotionLn 12$168$84$84
Office expensesLn 13$37K$14K$6K$18K
TravelLn 17$13K$8K$3K$2K
Conferences, conventions and meetingsLn 19$54K$27K$27K
Depreciation, depletion and amortizationLn 22$6K$3K$3K
Other expenses (24a–d)Ln 24$26K$662$15K$10K
All other expensesLn 24e−$94K−$94K$511$0
Total functional expensesLn 25$2.0M$1.8M$117K$69K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.1M$2.0M$1.1M$9.0M 990 PDF
FY2023 $2.9M$3.3M−$400K$7.5M 990 PDF
FY2022 $2.5M$1.6M$922K$7.3M 990 PDF
FY2021 $3.4M$1.1M$2.3M$7.2M 990 PDF
FY2020 $1.4M$1.1M$292K$4.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $3,052,190 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,733,055$2,814,859
I-9 Program service revenue$0
I-10 Investment incomePrior year $172,461$237,331
I-11 Other revenue$0
I-12 Total revenuePrior year $2,905,516$3,052,190
I-13 Grants and similar amounts paidPrior year $3,200,406$1,833,233
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $105,065$158,782
I-18 Total expensesPrior year $3,305,471$1,992,015
I-19 Revenue less expensesPrior year −$399,955$1,060,175
Part VI · Governance 15 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $3,052,190 across 8 lines filed
VIII-1d Related organizations$320,833
VIII-1f All other contributions, gifts and grants$2,494,026
VIII-1g Noncash contributions (included above)$16,300
VIII-1h Total contributions, gifts and grants$2,814,859
VIII-3 Investment incomeExcluded from tax $206,190$206,190
VIII-7 Net gain or loss on sales of assetsExcluded from tax $31,141$31,141
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $237,331$3,052,190
Part IX · Statement of functional expenses $1,992,015 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $437,200$437,200
IX-2 Grants to domestic individualsPrograms $1,196,025$1,196,025
IX-3 Grants and assistance to foreign recipientsPrograms $200,008$200,008
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesManagement $12,380$12,380
IX-11c Accounting feesManagement $33,656$33,656
IX-11f Investment management feesManagement $36,178$36,178
IX-11g Other fees for servicesPrograms $14,625 · Management $10,107 · Fundraising $8,459$33,191
IX-12 Advertising and promotionPrograms $84 · Fundraising $84$168
IX-13 Office expensesPrograms $13,618 · Management $5,533 · Fundraising $18,133$37,284
IX-17 TravelPrograms $7,742 · Management $2,941 · Fundraising $2,402$13,085
IX-19 Conferences, conventions and meetingsPrograms $26,970 · Fundraising $26,970$53,940
IX-22 Depreciation, depletion and amortizationPrograms $3,165 · Fundraising $3,165$6,330
IX-24 Other expenses (24a–d)Programs $662 · Management $15,213 · Fundraising $10,240$26,115
IX-24e All other expensesPrograms −$94,056 · Management $511 · Fundraising $0−$93,545
IX-25 Total functional expensesPrograms $1,806,043 · Management $116,519 · Fundraising $69,453$1,992,015
Part X · Balance sheet $11,401,896 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $3,291,027$4,028,076
X-2 Savings and temporary cash investmentsStart of year $131,851$125,454
X-3 Pledges and grants receivableStart of year $1,060,131$943,418
X-9 Prepaid expenses and deferred chargesStart of year $4,919$9,022
X-10c Land, buildings and equipment, netStart of year $935$55,701
X-11 Publicly traded securitiesStart of year $5,437,298$6,240,225
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $9,926,161$11,401,896
X-17 Accounts payable and accrued expensesStart of year $91,801$73,203
X-18 Grants payableStart of year $2,327,973$2,301,970
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $2,419,774$2,375,173
X-27 Net assets without donor restrictionsStart of year $4,335,411$6,152,452
X-28 Net assets with donor restrictionsStart of year $3,170,976$2,874,271
X-32 Total net assets or fund balancesStart of year $7,506,387$9,026,723
X-33 Total liabilities and net assetsStart of year $9,926,161$11,401,896
Part XI · Reconciliation of net assets $9,026,723 net assets at year end
XI-1 Total revenue$3,052,190
XI-2 Total expenses$1,992,015
XI-3 Revenue less expenses$1,060,175
XI-4 Net assets at start of year$7,506,387
XI-5 Net unrealized gains (losses) on investments$460,161
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$9,026,723

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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