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.
$56K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
$56K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
20 mo
of spending, in cash
Plus $4.0M in investments, Pt X · Ln 11–13
Looks good: 20.2 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
$742K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.5M
-26% vs prior year
Spent
$1.6M
To programs
94%
Net assets
$7.3M
By yearFY2020–FY2024
Revenue
$2.5M
FY2022▼ -26%
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
$1.6M
FY2022▲ +43%
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
$7.3M
FY2022▲ +2%
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 FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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% · $1.5M Management & general 4% · $61K Fundraising 3% · $43K

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

17 people listed on the 990; $56K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director - Thru 2/22
$28,834Pt VII · Sec A
Executive Director - Beg 10/22
$26,906Pt 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
$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 · $1.5M · in their own filed words · FY2022
01

During the year, TSF awarded a total of 126 awards consisting of 7 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), 3 carolyn reed…

$1.5Mprogram 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 FY2022 990, line by line.

1The main four
Money inPt VIII
$2.5M
Ln 12
Gifts and grantsLn 1h$2.6M
Investment incomeLn 3$129K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.5M
Managementcol C$61K
Fundraisingcol D$43K
Owns and owesPt X
$7.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$8.1M
LiabilitiesLn 26$742K
PeoplePt VI, VII
17
listed · VII A
PaidVII A2
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.6M
Noncash giftsLn 1g$204K
Investment incomeLn 3$129K
Gains on assetsLn 7−$174K
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$2.6M
SavingsLn 2$167K
Cash and savings togetherLn 1–2$2.7M
InvestmentsLn 11–13$4.0M
Total assetsLn 16$8.1M
LiabilitiesLn 26$742K
Net assetsLn 32$7.3M
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 FY22End FY22
Cash and savingsLn 1–2$2.0M$2.7M
InvestmentsLn 11–13$4.6M$4.0M
Total assetsLn 16$7.7M$8.1M
LiabilitiesLn 26$540K$742K
Net assetsLn 32$7.2M$7.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$245K$245K
Grants to domestic individualsLn 2$1.2M$1.2M
Grants and assistance to foreign recipientsLn 3$86K$86K
Accounting feesLn 11c$17K$17K
Investment management feesLn 11f$27K$27K
Office expensesLn 13$9K$204$4K$5K
TravelLn 17$7K$2K$2K$2K
Conferences, conventions and meetingsLn 19$26K$26K
Other expenses (24a–d)Ln 24−$34K−$54K$10K$10K
Total functional expensesLn 25$1.6M$1.5M$61K$43K

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 Viewing $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 M · Noncash O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $2,542,826 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,974,577$2,586,991
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $457,718−$44,165
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,432,295$2,542,826
I-13 Grants and similar amounts paidPrior year $1,055,270$1,569,058
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 $76,656$52,178
I-18 Total expensesPrior year $1,131,926$1,621,236
I-19 Revenue less expensesPrior year $2,300,369$921,590
Part VI · Governance 14 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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 $2,542,826 across 7 lines filed
VIII-1d Related organizations$710,798
VIII-1f All other contributions, gifts and grants$1,876,193
VIII-1g Noncash contributions (included above)$204,066
VIII-1h Total contributions, gifts and grants$2,586,991
VIII-3 Investment incomeExcluded from tax $129,471$129,471
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$173,636−$173,636
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$44,165$2,542,826
Part IX · Statement of functional expenses $1,621,236 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $245,000$245,000
IX-2 Grants to domestic individualsPrograms $1,237,750$1,237,750
IX-3 Grants and assistance to foreign recipientsPrograms $86,308$86,308
IX-11c Accounting feesManagement $17,035$17,035
IX-11f Investment management feesManagement $27,404$27,404
IX-13 Office expensesPrograms $204 · Management $4,100 · Fundraising $5,117$9,421
IX-17 TravelPrograms $2,197 · Management $2,264 · Fundraising $2,197$6,658
IX-19 Conferences, conventions and meetingsFundraising $25,793$25,793
IX-24 Other expenses (24a–d)Programs −$54,479 · Management $10,043 · Fundraising $10,303−$34,133
IX-25 Total functional expensesPrograms $1,516,980 · Management $60,846 · Fundraising $43,410$1,621,236
Part X · Balance sheet $8,089,405 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,929,452$2,563,652
X-2 Savings and temporary cash investmentsStart of year $89,212$166,974
X-3 Pledges and grants receivableStart of year $1,138,783$1,317,262
X-9 Prepaid expenses and deferred chargesStart of year $3,319$6,340
X-11 Publicly traded securitiesStart of year $4,555,513$4,035,177
X-16 Total assetsStart of year $7,716,279$8,089,405
X-17 Accounts payable and accrued expensesStart of year $34,661$36,459
X-18 Grants payableStart of year $502,970$705,321
X-19 Deferred revenueStart of year $2,700$0
X-26 Total liabilitiesStart of year $540,331$741,780
X-27 Net assets without donor restrictionsStart of year $4,199,602$3,745,055
X-28 Net assets with donor restrictionsStart of year $2,976,346$3,602,570
X-32 Total net assets or fund balancesStart of year $7,175,948$7,347,625
X-33 Total liabilities and net assetsStart of year $7,716,279$8,089,405
Part XI · Reconciliation of net assets $7,347,625 net assets at year end
XI-1 Total revenue$2,542,826
XI-2 Total expenses$1,621,236
XI-3 Revenue less expenses$921,590
XI-4 Net assets at start of year$7,175,948
XI-5 Net unrealized gains (losses) on investments−$749,913
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,347,625

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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