Form 990 for tax year 2024
Filed by ORTHOCAROLINA RESEARCH INSTITUTE INC.
Totals
- Total revenue
- $2,643,097
- Total expenses
- $2,078,142
- Contributions and grants received
- $2,030,884
- Grants paid
- $0
- Program service revenue
- $347,405
- Investment income
- $264,808
- Other revenue
- $0
- Total assets, end of year
- $4,084,479
- Total liabilities, end of year
- $485,673
- Net assets or fund balances, end of year
- $3,598,806
- Program services expenses (Part IX)
- $1,421,830
- Management and general expenses
- $531,498
- Fundraising expenses
- $124,814
- Program service expenses (Part III)
- $1,421,830
Program services were 68.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$2,030,884
-
2a · Program service revenue: RESEARCH INCOME
total $347,405 · related or exempt $347,405
-
3 · Investment income
total $264,808 · excluded $264,808
Functional expenses
Part IX, the statement of functional expenses.
-
11c · Fees: accounting
total $28,607 · management and general $28,607
-
11g · Fees: other
total $478 · management and general $478
-
12 · Advertising and promotion
total $36,762 · program services $31,842 · management and general $4,920
-
13 · Office expenses
total $55,113 · management and general $55,113
-
16 · Occupancy
total $48,837 · management and general $48,837
-
17 · Travel
total $4,858 · program services $1,216 · management and general $3,642
-
23 · Insurance
total $20,937 · management and general $20,937
-
24a · Other expenses: PAYROLL REIMBURSEMENT
total $1,636,651 · program services $1,170,310 · management and general $358,966 · fundraising $107,375
-
24b · Other expenses: STUDY EXPENSES
total $122,267 · program services $122,267
-
24c · Other expenses: OSCAR MILLER DAY EXPENS
total $88,957 · program services $88,957
-
24d · Other expenses: ARMS FOR ALL
total $5,167 · program services $5,167
-
24e · All other expenses
total $29,508 · program services $2,071 · management and general $9,998 · fundraising $17,439
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $332,268 · end of year $459,672
-
3 · Pledges and grants receivable
end of year $722,500
-
4 · Accounts receivable
beginning of year $382,671 · end of year $218,448
-
9 · Prepaid expenses and deferred charges
beginning of year $33,891 · end of year $31,086
-
10a · Land, buildings and equipment: cost or other basis
$63,378
-
10b · Land, buildings and equipment: accumulated depreciation
$63,378
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $2,894,717 · end of year $2,434,231
-
15 · Other assets
beginning of year $51,856 · end of year $218,542
-
17 · Accounts payable and accrued expenses
beginning of year $618,110 · end of year $279,293
-
19 · Deferred revenue
beginning of year $13,093 · end of year $2,927
-
25 · Other liabilities
beginning of year $35,856 · end of year $203,453
-
27 · Net assets without donor restrictions
beginning of year $1,828,508 · end of year $2,266,288
-
28 · Net assets with donor restrictions
beginning of year $1,199,836 · end of year $1,332,518
Mission and programs · 2024
Mission
THE ORTHOCAROLINA RESEARCH INSTITUTE (OCRI) IS AN INDEPENDENT, NON-PROFIT 501(C)3 THAT EXISTS TO FACILITATE RELEVANT ORTHOPEDIC RESEARCH WHICH ADVANCES ORTHOPEDIC TREATMENTS, IMPROVES QUALITY OF LIFE FOR PATIENTS, AND EDUCATES THE MEDICAL COMMUNITY.
Activities or mission (Part I)
TO PROMOTE, DEVELOP AND CONDUCT STATE OF THE ART SCIENTIFIC RESEARCH AND EDUCATIONAL PROGRAMS FOR THE ADVANCEMENT OF ORTHOPEDIC CARE. OCRI WORKS BOTH INDEPENDENTLY AS WELL AS IN COLLABORATION WITH UNIVERSITIES, HOSPITALS, PHARMACEUTICAL AND DEVICE COMPANIES AND OTHER ACADEMIC AND RESEARCH ORGANIZATIONS TO FURTHER PROMOTE THE MISSION.
-
THE INSTITUTE'S MISSION AND PRIORITIES ARE CENTRALLY FOCUSED ON (1) IMPROVED ORTHOPEDIC PATIENT CARE AND (2) HIGH QUALITY EVIDENCE-BASED RESEARCH TO DEVELOP NEW AND INNOVATIVE ORTHOPEDIC DEVICES AND TECHNOLOGIES WHOSE GOAL IS TO ANSWER CLINICAL QUESTIONS FOR IMPROVED OUTCOMES. THE INSTITUTE LEADS ONGOING FDA-REGULATED CLINICAL TRIALS AND INVESTIGATOR-INITIATED SCIENTIFIC ACADEMIC STUDIES. RESEARCH IS DISSEMINATED THROUGH PEER REVIEWED JOURNAL PUBLICATIONS WITH GREATER THAN 85 PUBLICATIONS ANNUALLY.
Expenses $1,327,706 · Revenue $347,405
-
THE INSTITUTE'S MISSION IS FOCUSED ON ADVANCING BOTH RESEARCH AND EDUCATION IN ORTHOPEDICS. THE ORTHOCAROLINA RESEARCH INSTITUTE HOSTS AN EDUCATIONAL CME (CONTINUING MEDICAL EDUCATION) SYMPOSIUM, KNOWN AS OSCAR MILLER DAY, FOR 350-400 ORTHOPEDIC PROVIDERS AND ALLIED HEALTH CARE PROFESSIONALS EACH YEAR. THIS SYMPOSIUM IS OVER 40 YEARS OLD AND IS MARKETED TO THE SOUTHEASTERN U.S. TOPICS ARE ROTATED ANNUALLY.
Expenses $88,957
-
ARMS FOR ALL IS A PROGRAM UNDER OCRI THAT COVERS THE GAP EXPENSE BETWEEN WHAT INSURANCE WILL COVER AND WHAT IS THE BEST PROSTHETIC FOR IMPROVED QUALITY OF LIFE FOR PATIENTS WHO HAVE LOST A LIMB.
Expenses $5,167
As filed on the 2024 return.
Listed in Part VII
-
Clenn Gaston MDCLENN GASTON MD
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Patrick M ConnorPATRICK M CONNOR
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Bruce Darden MDBRUCE DARDEN MD
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Charles East IIICHARLES EAST III
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
John L Fraley JrJOHN L FRALEY JR
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
William Griffin MDWILLIAM GRIFFIN MD
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Fred R JonesFRED R JONES
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Tom SmithTOM SMITH
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Richard E ThigpenRICHARD E THIGPEN
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Velva WoolenVELVA WOOLEN
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
Brian Curtin MDBRIAN CURTIN MD
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5
-
Nancy McNellisNANCY MCNELLIS
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Christi CaddCHRISTI CADD
EXECUTIVE DIRECTOR
- Total calculated
- $181,466
- From this org
- $157,385
- From related orgs
- $0
- Other
- $24,081
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $144,811
- Bonus
- $12,574
- Other
- $0
- Deferred
- $8,464
- Nontaxable benefits
- $15,617
- Filer's total
- $181,466
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Written employment contract
- 3 · Compensation survey or study
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE ORTHOCAROLINA HR DEPARTMENT, A RELATED ORGANIZAT6ION, PERFORMS A SALARY SURVEY AND RE-EVALUATION PERIODICALLY OF POSITIONS. THEY SET THE COMPENSATION FOR ALL EMPLOYEES AND ALL POSITIONS. A MARKET ANALYSIS WAS PERFORMED IN 2023 AND A 15% INCREASE WAS ADDED TO THE EXECUTIVE DIRECTOR'S SALARY AS AN ADJUSTMENT BASED ON CURRENT MARKET. SALARY IS STILL LOWER THAN MARKET STANDARD BUT NO FUTURE ADJUSTMENTS ARE PLANNED AT THIS TIME.
- PART I, LINE 7
- A MORE DEFINED BONUS STRUCTURE WAS INTRODUCED IN 2023 FOR THE EXECUTIVE DIRECTOR. IT WAS NOT SOLELY CONTINGENT ON NET REVENUE BUT WAS BASED ON RAISING MONEY FOR THE ORGANIZATION AND GETTING ORGANIZATIONAL INITIATIVES OFF THE GROUND.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513219349307741
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