AMERICAN SURGICAL ASSOCIATION FOUNDATION

EIN: 953179452 501(c)(3) Medical Research

BEVERLY, MA

Total Revenue
$531,951
Total Expenses
$700,624
Total Assets
$5,236,770
Net Assets
$4,426,056
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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
1975
Legal Domicile
CA
Principal Officer
KEITH D LILLEMOE MD
Phone
9789278330
Tax Period
2023-01-01 to 2023-12-31

AMERICAN SURGICAL ASSOCIATION FOUNDATION, founded in 1975, is a small nonprofit in the Medical Research sector that reported $532K in total revenue in fiscal year 2023. Expenses of $701K exceeded revenue, resulting in a 32% operating deficit.

Mission

TO FUND THE RESEARCH OF SURGEONS INTO THE NEWEST SURGICAL PROCEDURES AND TECHNIQUES AND IN THE USE OF SPECIALIZED AND NEWLY DEVELOPED EQUIPMENT. PROVIDES MEANS OF FURTHERING THE PROFESSIONAL TRAINING, DEVELOPING THE TECHNICAL BACKGROUND AND PROMOTING THE EDUCATION OF INDIVIDUALS IN TRAINING THROUGH RESEARCH GRANTS AND AWARDS.

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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 $356,983
Program Service Revenue $0
Investment Income $174,968
Other Revenue $0
TOTAL REVENUE $531,951

Expense Breakdown

Grants Paid $646,066
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $646,686
Other Expenses $54,558
TOTAL EXPENSES $700,624

Year-over-Year Comparison

2023 2022 Change
Revenue $531,951 $517,640 +0.0%
Expenses $700,624 $554,815 +0.3%
Net Income $-168,673 $-37,175 +3.5%
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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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
10

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
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEITH D LILLEMOE MD CHAIR/VICE C 2.00
Officer Director
$0 $0 $0
RONALD V MAIER MD VICE CHAIR/T 2.00
Officer Director
$0 $0 $0
MARY T HAWN MD SECRETARY 2.00
Officer Director
$0 $0 $0
KELLY M MCMASTERS MD PHD TREASURER 2.00
Officer Director
$0 $0 $0
E CHRISTOPHER ELLISON MD TRUSTEE 2.00
Director
$0 $0 $0
DIANA L FARMER MD TRUSTEE/EX O 2.00
Director
$0 $0 $0
SELWYN M VICKERS MD TRUSTEE/EX-O 2.00
Director
$0 $0 $0
EILEEN M BULGER MD TRUSTEE AT L 2.00
Director
$0 $0 $0
ANDREW M CAMERON MD PHD TRUSTEE-AT-L 2.00
Director
$0 $0 $0
SANDRA L WONG MD TRUSTEE-AT-L 2.00
Director
$0 $0 $0
STEVEN C STAIN MD EX-OFFICO 2.00
Director
$0 $0 $0
ROBIN S MCLEOD MD TRUSTEE (4/2 2.00
Director
$0 $0 $0
ERNEST E MOORE MD (T-A-L) (4/2 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 $531,951 $700,624 $5,236,770 $-168,673
2022 $517,640 $554,815 $4,697,212 $-37,175
2021 $657,542 $549,938 $5,755,076 $107,604
2020 $465,517 $501,383 $5,103,473 $-35,866
2019 $1,046,971 $548,073 $4,760,852 $498,898
2018 $549,011 $551,944 $4,051,055 $-2,933
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