PLATINUM2023

The Thoracic Surgery Foundation

Funding research and education today to improve the practice of tomorrow

Chicago, IL   |  https://thoracicsurgeryfoundation.org/
GuideStar Charity Check

The Thoracic Surgery Foundation

EIN: 36-3635910

Mission

THE MISSION OF TSF IS TO FOSTER THE DEVELOPMENT OF SURGEON SCIENTISTS IN CARDIOTHORACIC SURGERY; INCREASING KNOWLEDGE AND INNOVATION TO BENEFIT PATIENT CARE.

Ruling year info

1990

Executive Director

Lee Wiensch CAE, CFRE

Main address

633 N Saint Clair St Ste 2100

Chicago, IL 60611 USA

Show more contact info

EIN

36-3635910

Subject area info

Medical education

Health care access

Cardiology

Organ transplantation

Heart and circulatory system diseases

Show more subject areas

Population served info

Children and youth

Adults

Caregivers

Ethnic and racial groups

People with diseases and illnesses

Show more populations served

NTEE code info

Other Medical Research N.E.C. (H99)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Affiliations

See related organizations info

Programs and results

Reports and documents
2021 Thoracic Surgery Foundation Annual Report

What we aim to solve

SOURCE: Self-reported by organization

The Thoracic Surgery Foundation aims to address the care of patients who experience the two biggest health risks in the world -- heart disease and lung cancer. Through TSF's extensive awards in the areas of research, education, leadership and international surgical outreach, we aim to foster the development of surgeon-scientists in cardiothoracic surgery, thereby increasing knowledge and innovation to benefit patients and improve access to care.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

TSF Research Awards

The Thoracic Surgery Foundation funds multiple awards related to research in the field of cardiothoracic surgery.

Population(s) Served

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Total dollar amount of grants awarded

This metric is no longer tracked.
Totals By Year
Related Program

TSF Research Awards

Type of Metric

Output - describing our activities and reach

Direction of Success

Holding steady

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

The Thoracic Surgery Foundation aims to foster the development of surgeon-scientists in cardiothoracic surgery, thereby increasing knowledge and innovation to benefit patients and improve access to care.

TSF offers more than 30 unique awards and scholarships to facilitate research in the cardiothoracic surgery field, and improve the skills of surgeons and surgeon-scientists that will improve outcomes for patients.

TSF is a successful fundraising organization, with gifts received of nearly $3 million in 2022. Additionally, all administrative costs of running the organization are underwritten by The Society of Thoracic Surgeons, so that every donor dollar can go directly to awards and grants that support the cardiothoracic surgery specialty.

Since 1988, TSF has strengthened the cardiothoracic surgery specialty via:
300 cardiothoracic surgery research and education grants
70 humanitarian surgical outreach trips to underserved regions
425 travel and leadership scholarships for advanced training
300 educational scholarships and fellowships

Financials

The Thoracic Surgery Foundation
Fiscal year: Jan 01 - Dec 31
Financial documents
2021 The Thoracic Surgery Foundation
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2021 info

SOURCE: IRS Form 990

12.17

Average of 7.78 over 10 years

Months of cash in 2021 info

SOURCE: IRS Form 990

21.4

Average of 16.5 over 10 years

Fringe rate in 2021 info

SOURCE: IRS Form 990

0%

Average of 0% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

The Thoracic Surgery Foundation

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

The Thoracic Surgery Foundation

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

The Thoracic Surgery Foundation

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of The Thoracic Surgery Foundation’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Fiscal year: Jan 01 - Dec 31 picture_as_pdf View full report cloud_downloadDownload data

Business model indicators

Profitability info 2017 2018 2019 2020 2021
Unrestricted surplus (deficit) before depreciation $359,330 $183,887 $479,054 $668,490 $384,829
As % of expenses 36.0% 14.9% 37.6% 60.3% 34.0%
Unrestricted surplus (deficit) after depreciation $359,330 $183,887 $479,054 $668,490 $384,829
As % of expenses 36.0% 14.9% 37.6% 60.3% 34.0%
Revenue composition info
Total revenue (unrestricted & restricted) $1,546,386 $1,561,172 $1,896,136 $1,400,211 $3,432,295
Total revenue, % change over prior year 0.7% 1.0% 21.5% -26.2% 145.1%
Program services revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 3.7% 4.0% 3.8% 5.1% 3.5%
Government grants 0.0% 0.0% 0.0% 0.0% 0.0%
All other grants and contributions 94.7% 94.0% 92.2% 96.3% 86.7%
Other revenue 1.6% 2.0% 4.0% -1.4% 9.8%
Expense composition info
Total expenses before depreciation $998,708 $1,234,592 $1,274,991 $1,108,220 $1,131,926
Total expenses, % change over prior year 5.6% 23.6% 3.3% -13.1% 2.1%
Personnel 0.0% 0.0% 0.0% 0.0% 0.0%
Professional fees 23.2% 21.7% 2.5% 2.8% 3.8%
Occupancy 0.0% 0.0% 0.0% 0.0% 0.0%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 70.0% 71.6% 88.7% 94.5% 93.2%
All other expenses 6.8% 6.7% 8.8% 2.7% 2.9%
Full cost components (estimated) info 2017 2018 2019 2020 2021
Total expenses (after depreciation) $998,708 $1,234,592 $1,274,991 $1,108,220 $1,131,926
One month of savings $83,226 $102,883 $106,249 $92,352 $94,327
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $1,081,934 $1,337,475 $1,381,240 $1,200,572 $1,226,253

Capital structure indicators

Liquidity info 2017 2018 2019 2020 2021
Months of cash 15.9 14.9 18.5 14.7 21.4
Months of cash and investments 38.8 31.8 41.3 47.7 69.7
Months of estimated liquid unrestricted net assets 15.8 14.6 18.6 28.6 32.1
Balance sheet composition info 2017 2018 2019 2020 2021
Cash $1,320,882 $1,533,247 $1,967,492 $1,358,496 $2,018,664
Investments $1,909,322 $1,734,818 $2,417,959 $3,046,829 $4,555,513
Receivables $463,077 $613,252 $410,235 $838,285 $1,138,783
Gross land, buildings, equipment (LBE) $0 $0 $0 $0 $0
Accumulated depreciation (as a % of LBE) 0.0% 0.0% 0.0% 0.0% 0.0%
Liabilities (as a % of assets) 8.0% 9.8% 9.7% 7.3% 7.0%
Unrestricted net assets $1,314,073 $1,497,960 $1,977,014 $2,645,504 $3,030,333
Temporarily restricted net assets $2,088,612 $2,008,786 N/A N/A N/A
Permanently restricted net assets $0 $0 N/A N/A N/A
Total restricted net assets $2,088,612 $2,008,786 $2,358,107 $2,223,616 $4,145,615
Total net assets $3,402,685 $3,506,746 $4,335,121 $4,869,120 $7,175,948

Key data checks

Key data checks info 2017 2018 2019 2020 2021
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Letter of Determination is not available for this organization
Form 1023/1024 is not available for this organization

Executive Director

Lee Wiensch CAE, CFRE

LinkedIn profile

Number of employees

Source: IRS Form 990

The Thoracic Surgery Foundation

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

The Thoracic Surgery Foundation

Board of directors
as of 07/18/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board co-chair

Dr. Joseph A. Dearani, MD

Mayo Clinic

Term: 2022 - 2025


Board co-chair

Dr. Virginia R. Litle, MD

Steward Hospitals

Term: 2022 - 2025

Juan A. Crestanello, MD

Mayo Clinic

Anthony L. Estrera, MD

University of Texas Health Sciences Center

Gorav Ailawadi, MD

University of Michigan

Edward P. Chen, MD

Duke University

Carolyn A. Dubeau, MD

University of Texas Health San Antonio

Melanie A. Edwards, MD

IHA

Karen M. Kim, MD

University of Texas at Austin

Scott A. LeMaire, MD

Baylor College of Medicine

Thomas E. MacGillivray, MD

MedStar

Meena Nathan, MD

Boston Children's Hospital

Tom C. Nguyen, MD

UCSF

Vinod H. Thourani, MD

Piedmont Heart Institute

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 7/18/2023
info Candid has made improvements to the race and ethnicity options.

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender (cisgender)
Sexual orientation
Decline to state
Disability status
Person without a disability

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 07/18/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.

Contractors

Fiscal year ending

Professional fundraisers

Fiscal year ending

SOURCE: IRS Form 990 Schedule G

Solicitation activities
Gross receipts from fundraising
Retained by organization
Paid to fundraiser