FOUNDATION FOR ARTHROPLASTY RESEAR… - Form 990 Financial Data

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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

2014

Legal Domicile

Principal Officer

MICHAEL ZARSKI

Phone

8476981200

Tax Period

2023-01-01 to 2023-12-31

FOUNDATION FOR ARTHROPLASTY RESEARCH AND EDUCATION, founded in 2014, is a small nonprofit in the Medical Research sector that reported $120K in total revenue in fiscal year 2023. Revenue surged 135% from the prior year, signaling strong growth momentum. Expenses of $243K exceeded revenue, resulting in a 102% operating deficit.

Mission

TO IMPROVE HEALTH AND QUALITY OF LIFE BY SUPPORTING HIP AND KNEE RESEARCH, EDUCATION IN JOINT CARE, AND SCIENTIFIC ADVANCES IN THE TREATMENT OF THE HIP AND KNEE.

Program Service Accomplishments

Program 1

Expenses: $229,000

FARE ESTABLISHED A GRANTS COMMITTEE TO AWARD MONETARY GRANTS OR OTHER FORMS OF FINANCIAL AND IN-KIND SUPPORT TO RESEARCH PROJECTS AND EDUCATIONAL ACTIVITIES THAT ADVANCE THE FARE MISSION. THE BOARD AUTHORIZED UP TO $250,000 TO BE USED FOR RESEARCH GRANTS AND A SOLICITATION TO RESEARCHERS TO APPLY FOR GRANTS WAS ISSUED. FARE WORKED WITH THE AAHKS RESEARCH COMMITTEE TO PROVIDE A BLINDED TECHNICAL EVALUATION AND SCORING OF RELEVANT RESEARCH/EDUCATION PROPOSALS IN SUPPORT OF THE FARE GRANTS COMMITTEE.

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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 $27,726

Program Service Revenue $0

Investment Income $90,570

Other Revenue $1,682

TOTAL REVENUE $119,978

Expense Breakdown

Grants Paid $229,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $229,000

Other Expenses $13,845

TOTAL EXPENSES $242,845

Year-over-Year Comparison

	2023	2022	Change
Revenue	$119,978	$51,127	+1.3%
Expenses	$242,845	$245,912	0.0%
Net Income	$-122,867	$-194,785	-0.4%

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

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

$400,839

Total Directors

$20,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAVAD PARVIZI	PRESIDENT/FIRST VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
JAMES HUDDLESTON	FIRST VICE PRESIDENT/2ND VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
MICHAEL MENEGHINI	SECOND VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
ANTONIA CHEN	THIRD VICE PRESIDENT	0.25	Officer Director	$0	$0	$0
JAMES BROWNE	TREASURER	0.25	Officer Director	$0	$0	$20,000
RAFAEL SIERRA	SECRETARY	0.25	Officer Director	$0	$0	$0
BRYN SPRINGER	PAST PRESIDENT/PRESIDENT	0.25	Director	$0	$0	$0
MICHAEL ZARSKI	EXECUTIVE DIRECTOR	0.25	Officer	$0	$24,514	$380,839

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	$119,978	$242,845	$1,893,524	$-122,867
2022	$51,127	$245,912	$1,859,629	$-194,785
2021	$120,077	$166,075	$2,262,502	$-45,998
2020	$98,466	$211,279	$2,329,844	$-112,813
2019	$274,133	$155,244	$2,234,797	$118,889
2018	$147,488	$161,344	$1,970,962	$-13,856

FOUNDATION FOR ARTHROPLASTY RESEARCH AND EDUCATION