International Society for Minimally Invasive Cardiac Surgery EIN 41-1889746

International Society for Minimally Invasive Cardiac Surgery

EIN  41-1889746 Public charity (501(c)(3)) Beverly, MA
Form 990 (PDF) Compare with another nonprofit →
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Size
$1–10M
What they do
Supports scientific, educational, and charitable projects and activities.
Leadership
Niv Ad MD · Editor · $50K
Money in and out
$1.1M revenue, $1.0M expenses
Bottom line
73% program efficiency

Supports scientific, educational, and charitable projects and activities. For fiscal year 2024 it reported $1.1M in revenue, $1.0M in expenses, and $760K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$1.0M
Pt IX · Ln 25
Net assets
$760K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $79K
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.22 Fundraising $0.05
Program efficiency
73%
of spending reaches programs▼ -2% vs prior filing year
Operating runway
8.6mo
months of highly liquid reserves at operating expense rate▲ +7% vs prior filing year
Surplus margin
+7%
revenue over expenses, this year▲ +129% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.1M
FY2024▲ +14%
Expenses
$1.0M
FY2024▲ +9%
Total assets
$866K
FY2024▲ +15%
Total liabilities
$106K
FY2024▼ -9%
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$1.0M
Pt IX · Ln 25
Net assets
$760K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$79K
Total assetsPt X · Ln 16$866K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 320
Independent voting membersPt I · Ln 420
Mission & Programs · Part III

Where the work happens

3 program services account for $729K of program spending, described in the organization's own filed words · FY2024.
01

Meetings

To provide a forum for development of the medical subspecialty of minimally invasive cardiothoracic and cardiovascular surgery.

$539Kprogram expense
02

Publications

To provide an audience for the scientific evaluation of new and innovative minimally invasive surgical techniques and technology.

$152Kprogram expense
03

Committees

The society assembles committees to help organize and operate various functions of the society.

$39Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CInternational Society for Minimally Invasive Cardiac Surgery
EINHdr · item D41-1889746
Principal addressHdr · item CBeverly, MA
WebsiteHdr · item Jwww.ismics.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMedical Research (H43)
Ruling yearIRS BMFFeb 1999

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a20
Independent voting membersPt VI · Ln 1b20
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Editor
$50,000Pt VII · Sec A
President-Elect/Vice President
$0Pt VII · Sec A
Vice President/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer/Treasurer-Elect
$0Pt VII · Sec A
Past President/President
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
Director-Europe
$0Pt VII · Sec A

Niv Ad MD’s $50K as Editor is at the 5th percentile of top reported officer pay among 360 $1–10M medical research nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023
Niv Ad MD$50,000$30,000

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.

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Statement of Revenue

Part VIII
Program service revenue$626K · 56%
Contributions & grants$395K · 35%
Other revenue$75K · 7%
Investment income$20K · 2%
Program service revenue56%$626K
Contributions & grants35%$395K
Other revenue7%$75K
Investment income2%$20K
Total revenueLn 12$1.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.22 Fundraising $0.05
Program services73%$752K
Management & general22%$228K
Fundraising5%$57K
Total functional expensesLn 25$1.0M

Balance Sheet

Part X · end of year
CashLn 1$117K
Total assetsLn 16$866K
Total liabilitiesLn 26$106K
Total net assetsLn 32$760K
Months of cash on handcomputed1.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $746K · Operating expenses/yr $1.0M
8.6 months
Where the money goes
Program services
Program services $752K · Total expenses $1.0M
73%
Management & General
Management & general $228K · Total expenses $1.0M
22%
Fundraising
Fundraising $57K · Total expenses $1.0M
5%
Cost to raise $1
Fundraising expense (3-yr avg) $50K · Solicited contributions (3-yr avg) $332K
$0.15 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $395K · Total revenue $1.1M
35%
Government reliance
Government grants — · Total revenue $1.1M
Earned-income share
Program service revenue $626K · Total revenue $1.1M
56%
Investment reliance
Investment income $20K · Total revenue $1.1M
+2%
Program self-sufficiency
Program service revenue $626K · Total expenses $1.0M
60%
Growth & trend
Revenue growth (YoY)
This year $1.1M · Prior year $982K
+14%
Revenue CAGR
FY2020 $331K · FY2024 $1.1M
+35%
Net-asset trend (YoY)
End of year $760K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.1M · Expenses $1.0M
+7%
Liabilities-to-Assets
Total liabilities — · Total assets $866K
Net-asset ratio
Net assets $760K · Total assets $866K
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $629K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $866K
73%
People & payroll
Highest Reported Total Compensation
Individual Niv Ad MD · Reported title EDITOR · Highest reported compensation $50K · Total expenses $1.0M
5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $50K · Total expenses $1.0M
5%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%
Overhead ratio 22%
Fundraising cost ratio 14%
Revenue growth 14%
Investment management fee ratio 0%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $24K · 2021–2023
Unitemized GrantFY2023$6,000
Unitemized GrantFY2023$3,000
Unitemized GrantFY2023$2,000
Unitemized GrantFY2021$6,500
Unitemized GrantFY2021$3,000
Unitemized GrantFY2021$3,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.1M revenue · viewing · ⤓ 990 PDF
FY2023$982K revenue · ⤓ 990 PDF
FY2022$839K revenue · ⤓ 990 PDF
FY2021$628K revenue · ⤓ 990 PDF
FY2020$331K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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