THE THORACIC SURGERY 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

1988

Legal Domicile

Phone

3122025815

Tax Period

2024-01-01 to 2024-12-31

THE THORACIC SURGERY FOUNDATION, founded in 1988, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2024. The organization ran a surplus of $1.1M, a strong 35% operating margin.

Mission

THE MISSION OF TSF IS TO ADVANCE HEART AND LUNG HEALTH FOR ALL.

Program Service Accomplishments

Program 1

Expenses: $964,692

12 RESEARCH AWARDS TO FUND CLINICAL, APPLIED, AND DATA-FOCUSED RESEARCH IN ALL DISCIPLINES OF THE CARDIOTHORACIC SURGERY SPECIALTY. MOST AWARDS ARE GRANTED FOR A TWO-YEAR TERM, AND ARE SUBJECT TO A RIGOROUS, NIH-STYLE REVIEW AND SELECTION PROCESS ADMINISTERED BY EXPERT SURGEON SCIENTISTS.

Program 2

Expenses: $623,715

109 SURGICAL OUTREACH & EDUCATIONAL AWARDS. THE SURGICAL OUTREACH AWARDS PROVIDE FUNDING FOR SURGICAL OUTREACH AND TRAINING IN UNDERSERVED AREAS AROUND THE WORLD. THESE AWARDS SUPPORT TRIPS FOR FULL SURGICAL TEAMS AND INDIVIDUAL INTERNATIONAL MEDICAL VOLUNTEERS, PRIMARILY FOCUSING ON TREATING RHEUMATIC HEART DISEASE AND CONGENITAL CONDITIONS GLOBALLY. EDUCATIONAL AWARDS IN THE FORM OF LATIN AMERICAN CONFERENCE SCHOLARSHIPS PROVIDE FUNDING TO CARDIOTHORACIC SURGEONS, PHYSICIANS, AND RESIDENTS FROM AROUND THE WORLD AT UNDER-RESOURCED INSTITUTIONS WHO TREAT UNDERSERVED PATIENTS, AND WHO DEMONSTRATE A FINANCIAL NEED. THE COURSE FOCUSES ON THE LATEST DEVELOPMENTS AND BEST PRACTICES IN CORONARY ARTERY DISEASE, CONGENITAL HEART DISEASE, THORACIC AORTIC DISEASE, ATRIAL FIBRILLATION, AND THE SURGICAL MANAGEMENT OF HEART FAILURE.

Program 3

Expenses: $186,478

44 EDUCATION AWARDS TO PROVIDE SHORT-TERM TRAVELING FELLOWSHIP EXPERIENCES FOR SURGEONS IN ALL DISCIPLINES OF THE CARDIOTHORACIC SURGERY SPECIALTY TO LEARN A SPECIFIC SURGICAL TECHNIQUE FROM AN...

44 EDUCATION AWARDS TO PROVIDE SHORT-TERM TRAVELING FELLOWSHIP EXPERIENCES FOR SURGEONS IN ALL DISCIPLINES OF THE CARDIOTHORACIC SURGERY SPECIALTY TO LEARN A SPECIFIC SURGICAL TECHNIQUE FROM AN EXPERT IN THE FIELD. AWARDEES THEN BRING NEW EXPERTISE TO THEIR HOME INSTITUTIONS TO IMPROVE THE CARE OF PATIENTS IN THEIR REGION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,814,859

Program Service Revenue $0

Investment Income $237,331

Other Revenue $0

TOTAL REVENUE $3,052,190

Expense Breakdown

Grants Paid $1,833,233

Salaries & Benefits $0

Fundraising Expenses $69,453

Program Expenses $1,806,043

Other Expenses $158,782

TOTAL EXPENSES $1,992,015

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,052,190	$2,905,516	+0.1%
Expenses	$1,992,015	$3,305,471	-0.4%
Net Income	$1,060,175	$-399,955	-3.7%

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

146

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

$227,714

Total Directors

$9,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Anthony L Estrera	Treasurer	12.0	Officer Director	$0	$0	$0
Joseph A Dearani	President	12.0	Officer Director	$0	$0	$0
Juan A Crestanello	Secetary	12.0	Officer Director	$0	$0	$0
Virginia R Litle	Vice President	12.0	Officer Director	$0	$0	$0
Carolyn A Dubeau	Director	4.0	Director	$0	$0	$0
Edward P Chen	Director	4.0	Director	$0	$0	$0
Elaine E Tseng	Director	4.0	Director	$0	$0	$0
Emily A Farkas	Director - Started 01/26/24	4.0	Director	$0	$0	$0
Gorav Ailawadi	Director	4.0	Director	$0	$0	$0
Jennifer C Romano	Director - Started 01/26/24	4.0	Director	$0	$0	$8,000
Karen M Kim	Director	4.0	Director	$0	$0	$0
Meena Nathan	Director	4.0	Director	$0	$0	$0
Melanie A Edwards	Director	4.0	Director	$0	$0	$0
Scott A LeMaire	Director	4.0	Director	$0	$0	$0
Thomas E MacGillivray	Director - Thru 01/26/24	4.0	Director	$0	$0	$0
Tom C Nguyen	Director	4.0	Director	$0	$0	$0
Vinod H Thourani	Director - Thru 01/26/24	4.0	Director	$0	$0	$1,000
Lee A Wiensch	Executive Director	40.0	Officer	$0	$51,608	$227,714

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	$3,052,190	$1,992,015	$11,401,896	$1,060,175
2023	$2,905,516	$3,305,471	$9,926,161	$-399,955
2022	$2,542,826	$1,621,236	$8,089,405	$921,590
2021	$3,432,295	$1,131,926	$7,716,279	$2,300,369
2020	$1,400,211	$1,108,220	$5,251,287	$291,991
2019	$1,896,136	$1,274,991	$4,803,180	$621,145
2018	$1,561,172	$1,234,592	$3,887,726	$326,580