SURGICAL ASSOCIATES RESEARCH AND EDUCATION FOUNDATION

EIN: 232181768 501(c)(3)

Philadelphia, PA

Total Revenue
$935,569
Total Expenses
$4,280,177
Total Assets
$4,338,156
Net Assets
$61,147
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
PA
Principal Officer
N SCOTT ADZICK MD
Phone
2155902700
Tax Period
2023-07-01 to 2024-06-30

SURGICAL ASSOCIATES RESEARCH AND EDUCATION FOUNDATION, founded in 1983, is a small nonprofit that reported $936K in total revenue in fiscal year 2023. Revenue surged 469% from the prior year, signaling strong growth momentum. Expenses of $4.3M exceeded revenue, resulting in a 357% operating deficit.

Mission

SURGICAL ASSOCIATES RESEARCH AND EDUCATION FOUNDATION ("SAREF") PROVIDES THIS GRANT FOR THE GENERAL SUPPORT OF THE CHILDREN'S HOSPITAL OF PHILADELPHIA FOUNDATION, A RELATED ORGANIZATION. SAREF ENSURES THAT THE GRANT RECIPIENT IS A TAX-EXEMPT ENTITY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $935,569
Other Revenue $0
TOTAL REVENUE $935,569

Expense Breakdown

Grants Paid $4,275,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $4,275,000
Other Expenses $5,177
TOTAL EXPENSES $4,280,177

Year-over-Year Comparison

2023 2022 Change
Revenue $935,569 $164,406 +4.7%
Expenses $4,280,177 $381,187 +10.2%
Net Income $-3,344,608 $-216,781 +14.4%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
N/A
Employees
N/A
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
5
$7,746,018
Total Directors
8
$12,579,355
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PHILIP STORM MD PRESIDENT/DIRECTOR 1.0
Officer Director
$0 $61,908 $2,491,482
JESSE A TAYLOR MD DIRECTOR 1.0
Director
$0 $62,634 $2,420,141
N SCOTT ADZICK MD CHAIRMAN, DIRECTOR 1.0
Officer Director
$0 $56,844 $2,409,020
JONATHAN M CHEN MD FORMER PRESIDENT, DIRECTOR 0.0
$0 $57,135 $2,249,765
JOHN FLYNN MD DIRECTOR 1.0
Director
$0 $63,108 $1,392,802
THOMAS KOLON MD TREASURER, DIRECTOR 1.0
Officer Director
$0 $57,302 $1,103,236
MICHAEL NANCE MD DIRECTOR 1.0
Director
$0 $61,908 $1,020,394
KAREN ZUR MD VICE PRESIDENT/DIRECTOR 1.0
Officer Director
$0 $52,338 $1,004,842
MONTE MILLS MD FORMER DIRECTOR 0.0
$0 $62,220 $794,872
GIL BINENBAUM MD SECRETARY, DIRECTOR 1.0
Officer Director
$0 $61,489 $737,438
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 $935,569 $4,280,177 $4,338,156 $-3,344,608
2023 $164,406 $381,187 $3,900,896 $-216,781
2022 $198,150 $7,343 $3,921,016 $190,807
2021 $342,013 $6,794 $4,580,775 $335,219
2020 $240,011 $-3,144 $3,692,473 $243,155
2019 $157,785 $30,111 $3,505,308 $127,674
2018 $102,101 $27,153 $3,284,728 $74,948
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