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← R I H ORTHOPAEDIC FOUNDATION INC

Form 990 for tax year 2022

Filed by R I H ORTHOPAEDIC FOUNDATION INC.

Totals

Total revenue
$4,667,638
Total expenses
$4,847,810
Contributions and grants received
$212,804
Grants paid
$172,000
Program service revenue
$4,385,223
Investment income
$97,557
Other revenue
-$27,946
Total assets, end of year
$7,891,692
Total liabilities, end of year
$2,442,202
Net assets or fund balances, end of year
$5,449,490
Program services expenses (Part IX)
$4,614,964
Management and general expenses
$232,846
Fundraising expenses
$0
Program service expenses (Part III)
$4,614,964

Program services were 95.2% 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.

  • 1e · Government grants (contributions)

    $177,400

  • 1f · All other contributions, gifts and grants

    $35,404

  • 2a · Program service revenue: ADMIN, SUPERVISORY & T

    total $3,578,723 · related or exempt $3,578,723

  • 2b · Program service revenue: FEES FOR ORTHO LAB

    total $806,500 · related or exempt $806,500

  • 3 · Investment income

    total $71,897 · excluded $71,897

  • 7a · Gross sales of assets other than inventory

    securities $102,853

  • 7b · Less cost or other basis and sales expenses

    securities $77,193

  • 7c · Gain or loss

    securities $25,660

  • 7d · Net gain or loss

    total $25,660 · excluded $25,660

  • 11a · Other revenue: LOSS ON WATERFRONT DRI

    total -$1,799 · unrelated business -$1,799

  • 11b · Other revenue: OTHER MISC REVENUE

    total -$26,147 · unrelated business -$26,147

  • 11e · Other revenue, total

    -$27,946

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $172,000 · program services $172,000

  • 11b · Fees: legal

    total $410 · management and general $410

  • 11c · Fees: accounting

    total $73,700 · management and general $73,700

  • 11f · Fees: investment management

    total $31,047 · management and general $31,047

  • 13 · Office expenses

    total $1,582 · program services $1,582

  • 16 · Occupancy

    total $24,624 · program services $24,624

  • 20 · Interest

    total $81,329 · management and general $81,329

  • 22 · Depreciation, depletion and amortization

    total $3,495 · program services $3,495

  • 23 · Insurance

    total $32,558 · program services $32,558

  • 24a · Other expenses: RESEARCH AND EDUCATIONA

    total $3,414,021 · program services $3,414,021

  • 24b · Other expenses: BIOTECHNOLOGY ENGINEERI

    total $454,417 · program services $454,417

  • 24c · Other expenses: SPECIMENS AND TESTING M

    total $273,402 · program services $273,402

  • 24d · Other expenses: PURCHASED SERVICES

    total $166,613 · program services $166,613

  • 24e · All other expenses

    total $118,612 · program services $72,252 · management and general $46,360

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $329,725 · end of year $761,086

  • 7 · Other notes and loans receivable

    beginning of year $600,190 · end of year $147,668

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60,970 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $285,846

  • 10b · Land, buildings and equipment: accumulated depreciation

    $273,238

  • 10c · Land, buildings and equipment, net

    beginning of year $12,446 · end of year $12,608

  • 11 · Investments: publicly traded securities

    beginning of year $4,192,725 · end of year $3,586,215

  • 12 · Investments: other securities

    beginning of year $3,610,451 · end of year $3,384,115

  • 17 · Accounts payable and accrued expenses

    beginning of year $349,502 · end of year $678,619

  • 23 · Secured mortgages and notes payable

    beginning of year $2,170,470 · end of year $1,763,583

  • 27 · Net assets without donor restrictions

    beginning of year $6,065,816 · end of year $5,207,008

  • 28 · Net assets with donor restrictions

    beginning of year $220,719 · end of year $242,482

Mission and programs · 2022

Mission

ENGAGING IN MEDICAL RESEARCH AS A MEANS OF SEEKING TO PROVIDE TEACHING SERVICES TO MEDICAL STUDENTS AT THE WARREN ALPERT MEDICAL SCHOOL OF BROWN UNIVERSITY AND TO GRADUATES OF MEDICAL SCHOOLS WHO ARE IN POST-GRADUATE TRAINING PROGRAMS; AND PROVIDE ADMINISTRATIVE SERVICES IN HOSPITAL MEDICAL AND SURGICAL CARE, AND PARTICULARLY PROVIDING SUCH ADMINISTRATIVE SERVICES TO THE VARIOUS MEDICAL AND SURGICAL DEPARTMENTS OF RHODE ISLAND HOSPITAL.

Activities or mission (Part I)

SEE SCHEDULE O SUPPLEMENTAL INFORMATION TO FORM 990ENGAGING IN MEDICAL RESEARCH AS A MEANS OF SEEKING TO PROVIDE TEACHING SERVICES TO MEDICAL STUDENTS AT THE WARREN ALPERT MEDICAL SCHOOL OF BROWN UNIVERSITY AND TO GRADUATES OF MEDICAL SCHOOLS WHO ARE IN POST-GRADUATE TRAINING PROGRAMS; AND PROVIDE ADMINISTRATIVE SERVICES IN HOSPITAL MEDICAL AND SURGICAL CARE, AND PARTICULARLY PROVIDING SUCH ADMINISTRATIVE SERVICES TO THE VARIOUS MEDICAL AND SURGICAL DEPARTMENTS OF RHODE ISLAND HOSPITAL.

  • CONDUCTING MEDICAL RESEARCH, PROVIDING TEACHING SERVICES FOR MEDICAL STUDENTS AND PROVIDING ADMINISTRATIVE SERVICES TO VARIOUS MEDICAL AND SURGICAL DEPARTMENTS.

    Expenses $4,614,964 · Grants $172,000 · Revenue $4,385,223

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Edward Akelman MD

    PRESIDENT

    Total calculated
    $2,555,611
    From this org
    $0
    From related orgs
    $2,496,572
    Other
    $59,039
    Hours/week
    20 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,128,188 related
    Bonus
    $0 + $968,384 related
    Other
    $0 + $400,000 related
    Deferred
    $0 + $40,500 related
    Nontaxable benefits
    $0 + $18,539 related
    Filer's total
    $0 + $2,555,611 related

  • Qian Chen PhD

    TRUSTEE

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Joseph J Crisco PhD

    TREASURER

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Braden C Fleming PhD

    SECRETARY

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • UNIVERSITY ORTHOPEDICS INC

    C · MEDICAL PRACTICE · RI

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323189349302532

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