The Thoracic Surgery Foundation FY2020 filing

Tax-deductible

Chicago, IL501(c)(3)EIN 36-3635910Revenue $1.4M in FY2020

On file with the IRSthoracicsurgeryfoundation.org633 N Saint Clair St Ste 2100, 60611-5099 · Chicago, ILTax-exempt since Mar 1990Publicly supported charity — 170(b)(1)(A)(vi)

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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.
94¢ of each $1 spent went to programs.
$102K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$102K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Looks good: 14.7 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
$382K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
Spent
$1.1M
To programs
94%
Net assets
$4.9M
By yearFY2020–FY2024
Revenue
$1.4M
FY2020
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
$1.1M
FY2020
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
$4.9M
FY2020
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 FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

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

94 cents of each dollar spent went to programs.

Program services 94% · $1.0M Management & general 5% · $50K Fundraising 1% · $17K

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; $102K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$101,937Pt VII · Sec A
$0Pt VII · Sec A
$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

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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1 program · $1.0M · in their own filed words · FY2020
01

During the year, TSF awarded a total of 29 awards consisting of 10 every heartbeat matters awards (support for programs that educate, screen AND/OR treat underserved populations to reduce the global burden of heart valve disease, or to support other programs that advance health care and address underserved populations), 2 carolyn reed…

$1.0Mprogram 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 FY2020 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$52K
Money outPt IX
$1.1M
Ln 25
Programscol B$1.0M
Managementcol C$50K
Fundraisingcol D$17K
Owns and owesPt X
$4.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$5.3M
LiabilitiesLn 26$382K
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Noncash giftsLn 1g$14K
Investment incomeLn 3$52K
Gains on assetsLn 7−$19K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$1.3M
SavingsLn 2$74K
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$3.0M
Total assetsLn 16$5.3M
LiabilitiesLn 26$382K
Net assetsLn 32$4.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6111
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$2.0M$1.4M
InvestmentsLn 11–13$2.4M$3.0M
Total assetsLn 16$4.8M$5.3M
LiabilitiesLn 26$468K$382K
Net assetsLn 32$4.3M$4.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$257K$257K
Grants to domestic individualsLn 2$732K$732K
Grants and assistance to foreign recipientsLn 3$58K$58K
Legal feesLn 11b$527$527
Accounting feesLn 11c$14K$14K
Investment management feesLn 11f$16K$16K
Office expensesLn 13$18K$690$6K$11K
TravelLn 17$2K$576$594$576
Conferences, conventions and meetingsLn 19$10K$5K$5K
Other expenses (24a–d)Ln 24$1K−$8K$9K
Total functional expensesLn 25$1.1M$1.0M$50K$17K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $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 Viewing $1.4M$1.1M$292K$4.9M 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 $1,400,211 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,749,179$1,347,926
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $146,957$52,285
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,896,136$1,400,211
I-13 Grants and similar amounts paidPrior year $1,130,641$1,047,500
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $144,350$60,720
I-18 Total expensesPrior year $1,274,991$1,108,220
I-19 Revenue less expensesPrior year $621,145$291,991
Part VI · Governance 12 of 12 board members independent, 2 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-13 Written whistleblower policyNo
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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,400,211 across 7 lines filed
VIII-1d Related organizations$818,231
VIII-1f All other contributions, gifts and grants$529,695
VIII-1g Noncash contributions (included above)$13,957
VIII-1h Total contributions, gifts and grants$1,347,926
VIII-3 Investment incomeExcluded from tax $71,717$71,717
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$19,432−$19,432
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $52,285$1,400,211
Part IX · Statement of functional expenses $1,108,220 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $257,000$257,000
IX-2 Grants to domestic individualsPrograms $732,500$732,500
IX-3 Grants and assistance to foreign recipientsPrograms $58,000$58,000
IX-11b Legal feesManagement $527$527
IX-11c Accounting feesManagement $14,000$14,000
IX-11f Investment management feesManagement $16,028$16,028
IX-13 Office expensesPrograms $690 · Management $6,013 · Fundraising $10,965$17,668
IX-17 TravelPrograms $576 · Management $594 · Fundraising $576$1,746
IX-19 Conferences, conventions and meetingsManagement $4,673 · Fundraising $5,054$9,727
IX-24 Other expenses (24a–d)Programs −$7,613 · Management $8,637$1,024
IX-25 Total functional expensesPrograms $1,041,153 · Management $50,472 · Fundraising $16,595$1,108,220
Part X · Balance sheet $5,251,287 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,920,071$1,284,011
X-2 Savings and temporary cash investmentsStart of year $47,421$74,485
X-3 Pledges and grants receivableStart of year $410,235$838,285
X-9 Prepaid expenses and deferred chargesStart of year $7,494$7,677
X-11 Publicly traded securitiesStart of year $2,417,959$3,046,829
X-16 Total assetsStart of year $4,803,180$5,251,287
X-17 Accounts payable and accrued expensesStart of year $99,309$33,417
X-18 Grants payableStart of year $368,750$348,750
X-26 Total liabilitiesStart of year $468,059$382,167
X-27 Net assets without donor restrictionsStart of year $1,977,014$2,645,504
X-28 Net assets with donor restrictionsStart of year $2,358,107$2,223,616
X-32 Total net assets or fund balancesStart of year $4,335,121$4,869,120
X-33 Total liabilities and net assetsStart of year $4,803,180$5,251,287
Part XI · Reconciliation of net assets $4,869,120 net assets at year end
XI-1 Total revenue$1,400,211
XI-2 Total expenses$1,108,220
XI-3 Revenue less expenses$291,991
XI-4 Net assets at start of year$4,335,121
XI-5 Net unrealized gains (losses) on investments$242,008
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,869,120

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

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