THE WESTERN THORACIC SURGICAL ASSOCIATION

EIN: 237405487 501(c)(3) Diseases & Disorders

BEVERLY, MA

Total Revenue
$491,648
Total Expenses
$551,947
Total Assets
$764,504
Net Assets
$751,079
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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
1974
Legal Domicile
CA
Principal Officer
MICHAEL P FISCHBEIN MD PHD
Phone
9789278330
Tax Period
2023-01-01 to 2023-12-31

THE WESTERN THORACIC SURGICAL ASSOCIATION, founded in 1974, is a small nonprofit in the Diseases & Disorders sector that reported $492K in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $552K exceeded revenue, resulting in a 12% operating deficit.

Mission

TO PROMOTE ADVANCEMENT IN THE QUALITY AND PRACTICE OF THORACIC AND CARDIOVASCULAR SURGERY.

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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 $96,175
Program Service Revenue $383,180
Investment Income $12,118
Other Revenue $175
TOTAL REVENUE $491,648

Expense Breakdown

Grants Paid $26,999
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $485,320
Other Expenses $524,948
TOTAL EXPENSES $551,947

Year-over-Year Comparison

2023 2022 Change
Revenue $491,648 $633,640 -0.2%
Expenses $551,947 $723,871 -0.2%
Net Income $-60,299 $-90,231 -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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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
11
Independent Members
11
Employees
N/A
Volunteers
63

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
7
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MICHAEL P FISCHBEIN MD PHD PRESIDENT/SE 2.00
Officer Director
$0 $0 $0
CRAIG J BAKER MD VICE PRESIDE 2.00
Officer Director
$0 $0 $0
Y JOSEPH WOO MD SECRETARY/CO 2.00
Officer Director
$0 $0 $0
MICHAEL J WEYANT MD TREASURER 2.00
Officer Director
$0 $0 $0
JESSICA S DONINGTON MD IMM PAST PRE 2.00
Officer Director
$0 $0 $0
DOUGLAS E WOOD MD HISTORIAN 2.00
Director
$0 $0 $0
ALEC PATTERSON MD EDITOR 2.00
Director
$0 $0 $0
ERROL L BUSH PROG COMMITT 2.00
Director
$0 $0 $0
MICHAEL A SMITH MD COUNCILOR-AT 2.00
Director
$0 $0 $0
RAM KUMAR SUBRAMANYAN MD COUNCILOR-AT 2.00
Director
$0 $0 $0
ARTHUR N THOMAS MD COUNCILOR & 2.00
Director
$0 $0 $0
NAHUSH A MOKADAM MD COUNCILOR-AT 2.00
Director
$0 $0 $0
SEAN C GRONDIN MD VICE PRES (6 2.00
Officer Director
$0 $0 $0
JOSEPH C CLEVELAND JR MD IMM PAST PRE 2.00
Officer Director
$0 $0 $0
T BRETT REECE MD PROG COMM CH 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 $491,648 $551,947 $764,504 $-60,299
2022 $633,640 $723,871 $773,211 $-90,231
2021 $578,792 $474,752 $945,768 $104,040
2020 $161,082 $259,416 $815,866 $-98,334
2019 $608,464 $447,511 $886,046 $160,953
2018 $635,211 $565,158 $680,180 $70,053
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