FOUNDATION FOR ARTHROPLASTY RESEARCH AND EDUCATION

EIN: 472095371 501(c)(3) Medical Research

ROSEMONT, IL

Total Revenue
$119,978
Total Expenses
$242,845
Total Assets
$1,893,524
Net Assets
$1,718,524
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Legal Domicile
IL
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.

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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 $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

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Governance

Voting Members
7
Independent Members
6
Employees
N/A
Volunteers
14

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
$400,839
Total Directors
7
$20,000
Key Employees
0
$0
Highest Compensated
0
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
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