CHMC Cardiovascular Surgical Found… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

Pedro J del Nido MD

Phone

6173557008

Tax Period

2023-10-01 to 2024-09-30

CHMC Cardiovascular Surgical Foundation Inc, founded in 1982, is a mid-sized nonprofit that reported $33.1M in total revenue in fiscal year 2023. Expenses of $30.3M left a modest 8% surplus.

Mission

The Foundation provides cardiovascular services primarily to patients at Boston Children's Hospital and at satellite locations. The Foundation carries on and promotes basic and applied medical research and education in the field of cardiovascular surgery (see Schedule O) by teaching students and other medical and scientific personnel. The Foundation also provides care for patients regardless of their ability to pay.

Program Service Accomplishments

Program 1

Expenses: $25,946,982 Revenue: $30,800,325

The Foundation provides cardiovascular services primarily to patients at Boston Children's Hospital and at satellite locations. The Foundation may charge for patient care and other medical services, provided that any net income is used for the charitable, scientific, and educational purposes for which the Foundation was created. The Foundation also provides care for patients regardless of their ability to pay, as well as providing and supporting hospital and community based services that are either unavailable or limited elsewhere in the community. The Foundation provided $107,964 in free care services for the year ended September 30, 2024.

Program 2

Expenses: $802,484

The Foundation receives income from Boston Children's Hospital for providing administration, supervision, and teaching services. The Foundation carries on and promotes basic and applied medical...

The Foundation receives income from Boston Children's Hospital for providing administration, supervision, and teaching services. The Foundation carries on and promotes basic and applied medical research and education in the field of cardiovascular surgery by teaching students and other medical and scientific personnel; by providing research grants; giving lectures; and publishing information concerning conditions and research results in the field of pediatric cardiovascular surgery in order to educate the general public and the medical profession.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $500,000

Program Service Revenue $30,800,325

Investment Income $1,690,687

Other Revenue $63,659

TOTAL REVENUE $33,054,671

Expense Breakdown

Grants Paid $210,393

Salaries & Benefits $24,282,884

Fundraising Expenses $0

Program Expenses $26,749,466

Other Expenses $5,830,711

TOTAL EXPENSES $30,323,988

Year-over-Year Comparison

	2023	2022	Change
Revenue	$33,054,671	$32,150,038	+0.0%
Expenses	$30,323,988	$28,185,973	+0.1%
Net Income	$2,730,683	$3,964,065	-0.3%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Governance

Voting Members

Independent Members

N/A

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$6,403,017

Total Directors

$12,310,747

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Aditya K Kaza MD	Clerk	60.00	Officer Director	$1,079,082	$97,482	$1,176,564
Pedro J del Nido MD	President	55.00	Officer Director	$3,426,009	$76,163	$3,502,172
Christopher W Baird MD	Treasurer	60.00	Officer Director	$1,630,115	$94,166	$1,724,281
Sitaram M Emani MD	Director	60.00	Director	$1,646,436	$85,107	$1,731,543
Francis Fynn-Thompson MD	Director	60.00	Director	$1,024,836	$96,240	$1,121,076
John E Mayer Jr MD	Director	60.00	Director	$875,997	$76,163	$952,160
Nathalie Roy MD	Director	60.00	Director	$939,482	$104,427	$1,043,909
David Hoganson MD	Director	60.00	Director	$952,860	$106,182	$1,059,042
N/A	Institutional Trustee	2.00		$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$33,054,671	$30,323,988	$53,076,048	$2,730,683
2023	$32,150,038	$28,185,973	$48,088,574	$3,964,065
2022	$21,604,347	$24,941,364	$46,436,293	$-3,337,017
2021	$25,318,516	$21,761,313	$51,520,941	$3,557,203
2020	$20,685,808	$20,300,463	$38,696,663	$385,345
2019	$20,694,023	$17,759,761	$37,139,855	$2,934,262
2018	$20,861,135	$19,736,631	$40,271,468	$1,124,504

CHMC Cardiovascular Surgical Foundation Inc