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.
95¢ of each $1 spent went to programs.
$156K 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

FY2023 · 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
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$156K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
12 mo
of spending, in cash
Plus $5.4M in investments, Pt X · Ln 11–13
Looks good: 12.4 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
24% of total assets
Looks good: liabilities are 24% 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
$2.9M
+14% vs prior year
Spent
$3.3M
To programs
95%
Net assets
$7.5M
By yearFY2020–FY2024
Revenue
$2.9M
FY2023▲ +14%
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
$3.3M
FY2023▲ +104%
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
$7.5M
FY2023▲ +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 FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

95 cents of each dollar spent went to programs.

Program services 95% · $3.2M Management & general 3% · $89K Fundraising 2% · $66K

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; $156K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$155,733Pt 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
$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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Your first name shows with your question. The Thoracic Surgery Foundation answers here, for everyone.

Provided by the organization

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3 programs · $3.1M · in their own filed words · FY2023
01

18 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,

$2.1Mprogram expense
02

26 surgical outreach awards to provide funding for surgical outreach and training in underserved areas of the world. The awards fund trips for full surgical teams and for individual international medical volunteers and are focused primarily on the treatment of rheumatic heart disease and congenital issues worldwide

$671Kprogram expense
03

42 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.

$373Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$2.9M
Ln 12
Gifts and grantsLn 1h$2.7M
Investment incomeLn 3$172K
Money outPt IX
$3.3M
Ln 25
Programscol B$3.2M
Managementcol C$89K
Fundraisingcol D$66K
Owns and owesPt X
$7.5M
net assets · Ln 32
Cash and savingsLn 1–2$3.4M
Total assetsLn 16$9.9M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
18
listed · VII A
PaidVII A1
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.7M
Noncash giftsLn 1g$14K
Investment incomeLn 3$172K
Gains on assetsLn 7$30K
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
CashLn 1$3.3M
SavingsLn 2$132K
Cash and savings togetherLn 1–2$3.4M
InvestmentsLn 11–13$5.4M
Land, buildings, equipmentLn 10c$935
Total assetsLn 16$9.9M
LiabilitiesLn 26$2.4M
Net assetsLn 32$7.5M
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 FY23End FY23
Cash and savingsLn 1–2$2.7M$3.4M
InvestmentsLn 11–13$4.0M$5.4M
Land, buildings, equipmentLn 10c$0$935
Total assetsLn 16$8.1M$9.9M
LiabilitiesLn 26$742K$2.4M
Net assetsLn 32$7.3M$7.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$653K$653K
Grants to domestic individualsLn 2$2.1M$2.1M
Grants and assistance to foreign recipientsLn 3$479K$479K
Accounting feesLn 11c$24K$24K
Investment management feesLn 11f$30K$30K
Office expensesLn 13$27K$13K$2K$12K
TravelLn 17$14K$9K$2K$2K
Conferences, conventions and meetingsLn 19$49K$22K$11K$15K
Depreciation, depletion and amortizationLn 22$165$165
Other expenses (24a–d)Ln 24−$39K−$93K$19K$36K
Total functional expensesLn 25$3.3M$3.2M$89K$66K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.1M$2.0M$1.1M$9.0M 990 PDF
FY2023 Viewing $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 J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $2,905,516 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,586,991$2,733,055
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$44,165$172,461
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,542,826$2,905,516
I-13 Grants and similar amounts paidPrior year $1,569,058$3,200,406
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 $52,178$105,065
I-18 Total expensesPrior year $1,621,236$3,305,471
I-19 Revenue less expensesPrior year $921,590−$399,955
Part VI · Governance 15 of 15 board members independent, 2 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $2,905,516 across 7 lines filed
VIII-1d Related organizations$387,833
VIII-1f All other contributions, gifts and grants$2,345,222
VIII-1g Noncash contributions (included above)$13,860
VIII-1h Total contributions, gifts and grants$2,733,055
VIII-3 Investment incomeExcluded from tax $141,976$141,976
VIII-7 Net gain or loss on sales of assetsExcluded from tax $30,485$30,485
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $172,461$2,905,516
Part IX · Statement of functional expenses $3,305,471 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $653,300$653,300
IX-2 Grants to domestic individualsPrograms $2,068,006$2,068,006
IX-3 Grants and assistance to foreign recipientsPrograms $479,100$479,100
IX-11c Accounting feesManagement $24,500$24,500
IX-11f Investment management feesManagement $29,720$29,720
IX-13 Office expensesPrograms $12,580 · Management $2,357 · Fundraising $12,155$27,092
IX-17 TravelPrograms $8,855 · Management $2,345 · Fundraising $2,345$13,545
IX-19 Conferences, conventions and meetingsPrograms $21,973 · Management $11,393 · Fundraising $15,194$48,560
IX-22 Depreciation, depletion and amortizationPrograms $165$165
IX-24 Other expenses (24a–d)Programs −$93,303 · Management $18,689 · Fundraising $36,097−$38,517
IX-25 Total functional expensesPrograms $3,150,676 · Management $89,004 · Fundraising $65,791$3,305,471
Part X · Balance sheet $9,926,161 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,563,652$3,291,027
X-2 Savings and temporary cash investmentsStart of year $166,974$131,851
X-3 Pledges and grants receivableStart of year $1,317,262$1,060,131
X-9 Prepaid expenses and deferred chargesStart of year $6,340$4,919
X-10c Land, buildings and equipment, netStart of year $0$935
X-11 Publicly traded securitiesStart of year $4,035,177$5,437,298
X-16 Total assetsStart of year $8,089,405$9,926,161
X-17 Accounts payable and accrued expensesStart of year $36,459$91,801
X-18 Grants payableStart of year $705,321$2,327,973
X-26 Total liabilitiesStart of year $741,780$2,419,774
X-27 Net assets without donor restrictionsStart of year $3,745,055$4,335,411
X-28 Net assets with donor restrictionsStart of year $3,602,570$3,170,976
X-32 Total net assets or fund balancesStart of year $7,347,625$7,506,387
X-33 Total liabilities and net assetsStart of year $8,089,405$9,926,161
Part XI · Reconciliation of net assets $7,506,387 net assets at year end
XI-1 Total revenue$2,905,516
XI-2 Total expenses$3,305,471
XI-3 Revenue less expenses−$399,955
XI-4 Net assets at start of year$7,347,625
XI-5 Net unrealized gains (losses) on investments$558,717
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,506,387

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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