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The Thoracic Surgery Foundation

EIN 36-3635910 · Chicago, IL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong96 out of 100GovernanceStrong95 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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

Income
$3.1 million
Spending
$2.0 million
Spent on programs
91%
Reserves
36.7 months of spending
Largest source of income
donations and private grants, 92%
Employees
0
Volunteers
146
Highest pay
$227,714, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 96 out of 100.

  • Reserves

    35 of 35

    Spendable reserves would cover 36.7 months of spending.

  • Debt

    16 of 20

    It owes 21% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 35% of income.

  • Income trend

    15 of 15

    Income rose 5% on the year before.

  • Spending floor

    15 of 15

    91% of spending went to programs and raising each dollar of donations cost 2 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 95 out of 100.

  • Independent board

    25 of 25

    15 of 15 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (5)
  1. $964,692 spent. 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.
  2. $623,715 spent. 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.
  3. $186,478 spent. 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.
  4. $31,158 spent. OTHER PROGRAM SERVICES: 3 EXTRAORDINARY WOMEN IN CARDIOTHORACIC SURGERY AWARDS, RECOGNIZING WOMEN CARDIOTHORACIC SURGEONS WHO HAVE DEMONSTRATED EXCEPTIONAL CLINICAL EXPERTISE AND MADE SIGNIFICANT CONTRIBUTIONS TO THE FIELD. 2 ALLEY SHERIDAN SCHOLARSHIPS FOR EARLY-CAREER AND MID-CAREER CARDIOTHORACIC SURGEONS TO ATTEND THE STS LEADERSHIP INSTITUTE. 1 VIVEN THOMAS LECTURE AWARD- SPEAKER HONORARIUM AT THE STS ANNUAL MEETING.
  5. (Expenses $ 31,158 including grants of $ 30,000)(Revenue $ 0) OTHER PROGRAM SERVICES: 3 EXTRAORDINARY WOMEN IN CARDIOTHORACIC SURGERY AWARDS, RECOGNIZING WOMEN CARDIOTHORACIC SURGEONS WHO HAVE DEMONSTRATED EXCEPTIONAL CLINICAL EXPERTISE AND MADE SIGNIFICANT CONTRIBUTIONS TO THE FIELD. 2 ALLEY SHERIDAN SCHOLARSHIPS FOR EARLY-CAREER AND MID-CAREER CARDIOTHORACIC SURGEONS TO ATTEND THE STS LEADERSHIP INSTITUTE. 1 VIVEN THOMAS LECTURE AWARD- SPEAKER HONORARIUM AT THE STS ANNUAL MEETING.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since March 1990.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.