THE STERN CARDIOVASCULAR FOUNDATION INC

EIN: 274396698 501(c)(3) Health Care

GERMANTOWN, TN

Total Revenue
$61,270,919
Total Expenses
$110,589,164
Total Assets
$17,815,133
Net Assets
$-341,165,903
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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
TN
Principal Officer
STEVEN S GUBIN MD
Phone
9012712210
Tax Period
2023-10-01 to 2024-09-30

THE STERN CARDIOVASCULAR FOUNDATION INC, founded in 2010, is a mid-sized nonprofit in the Health Care sector that reported $61.3M in total revenue in fiscal year 2023. Expenses of $110.6M exceeded revenue, resulting in a 80% operating deficit.

Mission

THE STERN CARDIOVASCULAR FOUNDATION, INC.'S PRIMARY MISSION IS TO PROMOTE COMMUNITY HEALTH THROUGH THE PROVISION OF HEALTH CARE SERVICES AND ESTABLISH, EQUIP, AND MAINTAIN GEOGRAPHICALLY DISPERSED OUTPATIENT CLINIC LOCATIONS AT WHICH SUCH SERVICES WILL BE PROVIDED.

Program Service Accomplishments

Program 1
Expenses: $103,646,141 Revenue: $60,521,641

THE STERN CARDIOVASCULAR FOUNDATION, INC. PROVIDES QUALITY MEDICAL HEALTH CARE REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, OR AGE. PATIENTS OF EVERY RACE, CREED AND SOCIOECONOMIC GROUP...

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THE STERN CARDIOVASCULAR FOUNDATION, INC. PROVIDES QUALITY MEDICAL HEALTH CARE REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, OR AGE. PATIENTS OF EVERY RACE, CREED AND SOCIOECONOMIC GROUP COME TOTHE STERN CARDIOVASCULAR FOUNDATION, INC. FROM SEVERAL STATES, WITH MOST OF ITS PATIENTS COMING FROM WEST TENNESSEE, EAST ARKANSAS, AND NORTH MISSISSIPPI. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF THE STERN CARDIOVASCULAR FOUNDATION, INC., IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES, AND FURTHER, THAT OUR MISSION IS TO SERVE THE COMMUNITY WITH RESPECT TO PROVIDING HEALTH CARE SERVICES AND HEALTH CARE EDUCATION. THEREFORE, IN KEEPING WITH OUR COMMITMENT TO SERVE ALL MEMBERS OF OUR COMMUNITY, THE STERN CARDIOVASCULAR FOUNDATION, INC. PROVIDES THE FOLLOWING:- FREE CARE AND/OR SUBSIDIZED CARE WHERE THE NEED AND/OR AN INDIVIDUAL'S INABILITY TO PAY COEXIST,- CARE PROVIDED TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS AT BELOW COST, AND- HEALTH ACTIVITIES AND PROGRAMS TO SUPPORT THE COMMUNITY.THESE ACTIVITIES INCLUDE WELLNESS PROGRAMS, COMMUNITY EDUCATION PROGRAMS, PROGRAMS FOR THE ELDERLY, HANDICAPPED, MEDICALLY UNDERSERVED, AND A VARIETY OF BROAD COMMUNITY SUPPORT ACTIVITIES. THE STERN CARDIOVASCULAR FOUNDATION, INC. HAS ALIGNED WITH BAPTIST MEMORIAL HEALTH CARE CORPORATION AND NOW HAS 43 CARDIOLOGISTS. KNOWN AS ONE OF THE LARGEST MEDICAL RESEARCH AREAS IN THE COUNTRY, THE STERN CARDIOVASCULAR FOUNDATION, INC. IS RECOGNIZED AS ONE OF THE LEADING CARDIOVASCULAR RESEARCH AND TREATMENT CENTERS IN THE COUNTRY. UTILIZING STATE-OF-THE-ART MEDICAL TECHNOLOGY, THE STERN CARDIOVASCULAR FOUNDATION, INC. IS COMMITTED TO EXCELLENCE AND COMPASSION IN ITS TREATMENT OF PATIENTS. THE STERN CARDIOVASCULAR FOUNDATION, INC. OPENED THE STERN CARDIOVASCULAR VEIN CENTER FOR COMPREHENSIVE TREATMENT OF CHRONIC VENOUS INSUFFICIENCY AND VARICOSE VEINS. WE ALSO HAVE SPECIALIZED OUTPATIENT CLINICS FOR THE TREATMENT OF A-FIB AND CONGESTIVE HEART FAILURE (CHF). WE ARE VERY PROUD OF OUR MANY OUTREACH LOCATIONS WHICH ALLOW OUTPATIENT CONSULTS FOR RURAL NEIGHBORHOODS, WHICH DO NOT HAVE ACCESS TO TOP NOTCH MEDICAL CARE. INPATIENT SERVICES INCLUDE TESTS AND PROCEDURES TO DIAGNOSE AND TREAT CARDIAC NEEDS SUCH AS CARDIAC CATHETERIZATION - APPROXIMATELY 6,600; PTCA-STENT - APPROXIMATELY 2,700; ELECTROPHYSIOLOGY STUDY - APPROXIMATELY 1,500; PERIPHERAL VASCULAR STUDY - APPROXIMATELY 1,700; TAVRS - APPROXIMATELY 220; MITRAL CLIPS - APPROXIMATELY 70; AND ABLATION - APPROXIMATELY 1,400.THE STERN CARDIOVASCULAR FOUNDATION, INC. HAS AN ACTIVE BASE OF APPROXIMATELY 82,000 PATIENTS. OUR OUTPATIENT SERVICES INCLUDE CARDIAC WELLNESS EXAMS FOR BOTH MEN AND WOMEN, INTERVENTIONAL CARDIOLOGY,PACING AND ARRHYTHMIA MANAGEMENT, VASCULAR SCREENING EXAMS, DEVICE CLINIC, COUMADIN CLINIC AND LIPID CLINIC. WE OFFER EDUCATIONAL SESSIONS REGARDING LIPID MANAGEMENT AND WEIGHT CONTROL. OUR PHYSICIANS PROACTIVELY COUNSEL PATIENTS ON HEALTHY LIFESTYLES AT EACH APPOINTMENT AND WORK COLLABORATIVELY WITH OTHER AREA PROVIDERS.CARDIAC WELLNESS EXAMS AND SCREENING TESTS ARE USED TO RULE OUT HEART DISEASE AND DETERMINE CARDIAC RISKS. AT THE STERN CARDIOVASCULAR FOUNDATION, INC., WE TAKE A HEART HEALTHY APPROACH TO GETTING FIT.THE STERN CARDIOVASCULAR FOUNDATION, INC. ALSO HAS CLINICS IN WHICH DIAGNOSTIC TESTS ARE PERFORMED. PATIENTS MAY ALSO COME TO THE STERN CARDIOVASCULAR FOUNDATION, INC. FOR FLU SHOTS AND IMMUNIZATIONS WITHOUT AN APPOINTMENT. THE STERN CARDIOVASCULAR FOUNDATION, INC. ALSO OFFERS PROGRAMS SUCH AS THE LIPID, COUMADIN, AND PACEMAKER CLINICS TO HELP PATIENTS BETTER UNDERSTAND AND MANAGE THEIR CARDIAC HEALTH.LIPID CLINIC - IF YOUR CHOLESTEROL IS HIGH, SO IS YOUR CHANCE FOR A HEART ATTACK, STROKE, OR BLOCKAGES IN YOUR LEG ARTERIES. AS YOUR CHOLESTEROL IS LOWERED, SO ARE YOUR RISKS FOR THESE PROBLEMS. THE LIPID CLINIC PROVIDES INFORMATION ABOUT FOODS THAT ARE GOOD OR BAD FOR YOUR CHOLESTEROL LEVELS. EMPHASIS ON SOME DEGREE OF EXERCISE IS ALSO ENCOURAGED.COUMADIN CLINIC - IF YOU ARE ON THE BLOOD THINNER, COUMADIN, YOU NEED TO HAVE YOUR PROTHROMBIN TIME (INR) MONITORED ON A REGULAR BASIS IN OUR CLINIC. YOUR RESULTS WILL BE IMMEDIATELY AVAILABLE SO YOUR COUMADIN DOSE CAN BE ADJUSTED, IF NECESSARY.PACEMAKER CLINIC - WE PROVIDE ONSITE ARRHYTHMIA MONITORING SERVICES BY SPECIALLY TRAINED NURSES. THESE NURSES CAN CHECK YOUR PACEMAKER OR DEFIBRILLATOR.

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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 $60,521,641
Investment Income $110,902
Other Revenue $638,376
TOTAL REVENUE $61,270,919

Expense Breakdown

Grants Paid $0
Salaries & Benefits $89,290,534
Fundraising Expenses $0
Program Expenses $103,646,141
Other Expenses $21,298,630
TOTAL EXPENSES $110,589,164

Year-over-Year Comparison

2023 2022 Change
Revenue $61,270,919 $58,783,358 +0.0%
Expenses $110,589,164 $100,610,776 +0.1%
Net Income $-49,318,245 $-41,827,418 +0.2%
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
12
Independent Members
N/A
Employees
595
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
4
$4,067,133
Total Directors
12
$16,210,715
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TODD D EDWARDS MD PHYSICIAN/DIRECTOR 40.00
Director
$2,072,654 $93,285 $2,165,939
STEVEN S GUBIN MD PHYSICIAN/PRESIDENT/EX-OFFICIO 40.00
Officer Director
$1,936,311 $76,034 $2,012,345
ARSALAN SHIRWANY MD PHYSICIAN/DIRECTOR (AS OF 01/24) 40.00
Director
$1,804,992 $74,362 $1,879,354
ARIE SZATKOWSKI MD PHYSICIAN/DIRECTOR 38.85
Director
$1,479,030 $92,002 $1,571,032
CHRISTOPHER INGELMO MD PHYSICIAN/DIRECTOR 40.00
Director
$1,328,805 $90,987 $1,419,792
GARY C ANDERSON DIRECTOR 0.17
Director
$0 $88,606 $1,300,745
MARK E SWANSON MD DIRECTOR 0.17
Director
$0 $24,823 $1,220,645
MARK COPPESS MD PHYSICIAN/DIRECTOR 40.00
Director
$1,126,907 $85,264 $1,212,171
JOHN S GARDNER MD PHYSICIAN/DIRECTOR 40.00
Director
$1,003,337 $81,103 $1,084,440
JEFFREY KERLAN MD PHYSICIAN/DIRECTOR 40.00
Director
$881,335 $79,549 $960,884
BASIL PAULUS MD PHYSICIAN/DIRECTOR 40.00
Director
$780,810 $76,546 $857,356
JUSTIN RHODES DIRECTOR (AS OF 09/24) 0.17
Director
$0 $84,677 $526,012
GREGORY M DUCKETT SECRETARY 0.17
Officer
$0 $90,318 $1,346,501
DEBORAH EDDLESTONE CEO 40.00
Officer
$364,458 $67,453 $431,911
MELISSA REAVES CFO 40.00
Officer
$223,200 $53,176 $276,376
DAVID Z LAN MD PHYSICIAN 40.00
Highest
$1,656,702 $94,260 $1,750,962
DHARMESH PATEL MD PHYSICIAN 40.00
Highest
$1,620,260 $96,197 $1,716,457
JUSTIN MAY MD PHYSICIAN 40.00
Highest
$1,557,128 $64,003 $1,621,131
AMIT MALHOTRA MD PHYSICIAN 40.00
Highest
$1,451,999 $63,625 $1,515,624
MARK STRONG MD PHYSICIAN 40.00
Highest
$1,439,254 $75,784 $1,515,038
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 $61,270,919 $110,589,164 $17,815,133 $-49,318,245
2023 $58,783,358 $100,610,776 $19,498,337 $-41,827,418
2022 $54,308,920 $93,808,956 $22,108,211 $-39,500,036
2021 $54,640,164 $88,777,836 $22,808,738 $-34,137,672
2020 $49,543,413 $81,851,913 $17,127,426 $-32,308,500
2019 $47,287,345 $73,915,939 $10,623,044 $-26,628,594
2018 $45,509,922 $71,429,423 $9,944,546 $-25,919,501
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