AATS FOUNDATION

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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

1973

Legal Domicile

Principal Officer

DAVID H ADAMS MD

Phone

9782522200

Tax Period

2023-01-01 to 2023-12-31

AATS FOUNDATION, founded in 1973, is a community nonprofit in the Medical Research sector that reported $2.2M in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $2.7M exceeded revenue, resulting in a 21% operating deficit.

Mission

SUPPORT CARDIOTHORACIC SURGEONS IN RESEARCH AND EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $550,000

SURGICAL INVESTIGATOR PROGRAM - THE SURGICAL INVESTIGATOR PROGRAM SUPPORTS CLINICAL AND TRANSLATIONAL RESEARCH BY YOUNG CARDIOTHORACIC SURGEONS, INCLUDING TOPICS RELATED TO QUALITY AND OUTCOMES...

SURGICAL INVESTIGATOR PROGRAM - THE SURGICAL INVESTIGATOR PROGRAM SUPPORTS CLINICAL AND TRANSLATIONAL RESEARCH BY YOUNG CARDIOTHORACIC SURGEONS, INCLUDING TOPICS RELATED TO QUALITY AND OUTCOMES RESEARCH, AND STUDIES OF NEW AND INNOVATIVE THERAPIES, PROCEDURES, AND TECHNOLOGIES IN CARDIOTHORACIC SURGERY.

Program 2

Expenses: $289,110

MEDICAL STUDENT DIVERSITY SCHOLARSHIP - THESE SCHOLARSHIPS SUPPORT MEDICAL STUDENTS PLANNING TO PURSUE A CAREER IN CARDIOTHORACIC SURGERY AND WHO ARE FROM AN UNDERREPRESENTED IN MEDICINE POPULATION. UNDERREPRESENTED IN MEDICINE MEANS THOSE RACIAL AND ETHNIC POPULATIONS THAT ARE UNDERREPRESENTED IN THE MEDICAL PROFESSION RELATIVE TO THEIR NUMBERS IN THE GENERAL POPULATION.

Program 3

Expenses: $196,323

RESEARCH SCHOLARSHIP - THIS SCHOLARSHIP SUPPORTS EARLY-CAREER INVESTIGATORS COMMITTED TO FOLLOWING AN ACADEMIC CAREER IN CARDIOTHORACIC SURGERY WITH A TWO-YEAR GRANT USED TO PURSUE RESEARCH...

RESEARCH SCHOLARSHIP - THIS SCHOLARSHIP SUPPORTS EARLY-CAREER INVESTIGATORS COMMITTED TO FOLLOWING AN ACADEMIC CAREER IN CARDIOTHORACIC SURGERY WITH A TWO-YEAR GRANT USED TO PURSUE RESEARCH, TRAINING, AND CLINICAL EXPERIENCE.

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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 $1,603,718

Program Service Revenue $0

Investment Income $646,135

Other Revenue $-61,856

TOTAL REVENUE $2,187,997

Expense Breakdown

Grants Paid $1,821,348

Salaries & Benefits $411,616

Fundraising Expenses $86,820

Program Expenses $2,165,000

Other Expenses $423,750

TOTAL EXPENSES $2,656,714

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,187,997	$2,768,395	-0.2%
Expenses	$2,656,714	$2,214,957	+0.2%
Net Income	$-468,717	$553,438	-1.8%

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$520,131

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID R BOBBITT MSC MBA	CHIEF EXECUTIVE OFFICER	5.00	Officer	$0	$46,582	$401,294
SPENCER MCGRATH	DIRECTOR OF PUBLICATIONS	1.00	Highest	$0	$36,558	$239,633
MELISSA BINETTE	SENIOR DIRECTOR OF MEETING	1.00	Highest	$0	$36,399	$221,580
CARA GENSEL-HRUBES	DIRECTOR OF IT	5.00	Highest	$0	$22,943	$192,196
ISHAQUE ARTHUR	SR. PROGRAM MGR AQG	5.00	Highest	$0	$34,719	$192,171
ADAM SILVA	DIRECTOR OF ADMINISTRATION	1.00	Highest	$0	$26,860	$174,856
DAVID NEAL	SENIOR DIRECTOR OF FINANCE	5.00	Officer	$0	$4,834	$118,837
DAVID H ADAMS MD	PRESIDENT	4.00	Officer Director	$0	$0	$0
MARC R MOON MD	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
Y JOSEPH WOO MD	SECRETARY	2.00	Officer Director	$0	$0	$0
LEONARD N GIRARDI MD	TREASURER	2.00	Officer Director	$0	$0	$0
EMILE A BACHA MD	DIRECTOR	2.00	Officer Director	$0	$0	$0
YOLONDA L COLSON MD	DIRECTOR	4.00	Director	$0	$0	$0
JOSEPH S COSELLI MD	DIRECTOR	2.00	Director	$0	$0	$0
AUBREY GALLOWAY MD	DIRECTOR	2.00	Director	$0	$0	$0
A MARC GILLINOV MD	DIRECTOR	1.00	Director	$0	$0	$0
ROSEMARY F KELLY MD	DIRECTOR	1.00	Director	$0	$0	$0
JAMES D LUKETICH MD	DIRECTOR	2.00	Director	$0	$0	$0
PEDRO J DEL NIDO MD	DIRECTOR	2.00	Director	$0	$0	$0
MEHMET C OZ MD	DIRECTOR	2.00	Director	$0	$0	$0
VAUGHN A STARNES MD	DIRECTOR	2.00	Director	$0	$0	$0
RALPH J DAMIANO JR MD	DIRECTOR (THRU 05/2023)	3.00	Director	$0	$0	$0
TIMOTHY J GARDNER MD	DIRECTOR (THRU 05/2023)	4.00	Director	$0	$0	$0
DAVID R JONES MD	DIRECTOR (THRU 05/2023)	2.00	Director	$0	$0	$0
DANIELA MOLENA MD	DIRECTOR (THRU 05/2023)	2.00	Director	$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	No data	No data	No data	No data
2023	$2,187,997	$2,656,714	$12,835,336	$-468,717
2022	$2,768,395	$2,214,957	$12,292,242	$553,438
2021	$3,019,984	$2,172,344	$13,581,711	$847,640
2020	$2,306,720	$1,034,459	$11,185,695	$1,272,261
2019	$3,392,222	$1,639,784	$9,425,125	$1,752,438
2018	$1,970,565	$870,444	$7,637,971	$1,100,121
2018	$1,966,280	$896,886	$7,633,778	$1,069,394