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← SURGICAL ASSOCIATES RESEARCH AND EDUCATION FOUNDATION

Form 990 for tax year 2023

Filed by SURGICAL ASSOCIATES RESEARCH AND EDUCATION FOUNDATION.

Totals

Total revenue
$935,569
Total expenses
$4,280,177
Contributions and grants received
$0
Grants paid
$4,275,000
Program service revenue
$0
Investment income
$935,569
Other revenue
$0
Total assets, end of year
$4,338,156
Total liabilities, end of year
$4,277,009
Net assets or fund balances, end of year
$61,147
Program services expenses (Part IX)
$4,275,000
Management and general expenses
$5,177
Fundraising expenses
$0
Program service expenses (Part III)
$4,275,000

Program services were 99.9% 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.

  • 3 · Investment income

    total $90,553 · excluded $90,553

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $8,826,863

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

    securities $7,981,847

  • 7c · Gain or loss

    securities $845,016

  • 7d · Net gain or loss

    total $845,016 · excluded $845,016

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,275,000 · program services $4,275,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $5,177 · management and general $5,177

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $3,899,924 · end of year $61,147

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $972 · end of year $4,277,009

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $972 · end of year $4,277,009

  • 27 · Net assets without donor restrictions

    beginning of year $3,899,924 · end of year $61,147

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

SEE SCHEDULE O

  • TO PROVIDE SUPPORT FOR THE HEALTH CARE, SURGICAL, RESEARCH AND TEACHING SERVICES OF CHILDREN'S SURGICAL ASSOCIATES, LTD. (CSA) AND CHILDREN'S SURGICAL ASSOCIATES OF NEW JERSEY, INC. (CSA-NJ).

    Expenses $4,275,000 · Grants $4,275,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Philip Storm MD

    PRESIDENT/DIRECTOR

    Total calculated
    $2,491,482
    From this org
    $0
    From related orgs
    $2,429,574
    Other
    $61,908
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,790,334 related
    Bonus
    $0 + $638,750 related
    Other
    $0 + $490 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $28,908 related
    Filer's total
    $0 + $2,491,482 related

  • Jesse A Taylor MD

    DIRECTOR

    Total calculated
    $2,420,141
    From this org
    $0
    From related orgs
    $2,357,507
    Other
    $62,634
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,492,720 related
    Bonus
    $0 + $864,616 related
    Other
    $0 + $171 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $29,634 related
    Filer's total
    $0 + $2,420,141 related

  • N Scott Adzick MD

    CHAIRMAN, DIRECTOR

    Total calculated
    $2,409,020
    From this org
    $0
    From related orgs
    $2,352,176
    Other
    $56,844
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,496,322 related
    Bonus
    $0 + $586,896 related
    Other
    $0 + $268,958 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $23,844 related
    Filer's total
    $0 + $2,409,020 related

  • Jonathan M Chen MD

    FORMER PRESIDENT, DIRECTOR

    Total calculated
    $2,249,765
    From this org
    $0
    From related orgs
    $2,192,630
    Other
    $57,135
    Hours/week
    0 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,592,140 related
    Bonus
    $0 + $600,000 related
    Other
    $0 + $490 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $24,135 related
    Filer's total
    $0 + $2,249,765 related

  • John Flynn MD

    DIRECTOR

    Total calculated
    $1,392,802
    From this org
    $0
    From related orgs
    $1,329,694
    Other
    $63,108
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $669,134 related
    Bonus
    $0 + $659,808 related
    Other
    $0 + $752 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $30,108 related
    Filer's total
    $0 + $1,392,802 related

  • Thomas Kolon MD

    TREASURER, DIRECTOR

    Total calculated
    $1,103,236
    From this org
    $0
    From related orgs
    $1,045,934
    Other
    $57,302
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $471,028 related
    Bonus
    $0 + $574,154 related
    Other
    $0 + $752 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $24,302 related
    Filer's total
    $0 + $1,103,236 related

  • Michael Nance MD

    DIRECTOR

    Total calculated
    $1,020,394
    From this org
    $0
    From related orgs
    $958,486
    Other
    $61,908
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $610,334 related
    Bonus
    $0 + $300,000 related
    Other
    $0 + $48,152 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $28,908 related
    Filer's total
    $0 + $1,020,394 related

  • Karen Zur MD

    VICE PRESIDENT/DIRECTOR

    Total calculated
    $1,004,842
    From this org
    $0
    From related orgs
    $952,504
    Other
    $52,338
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $493,067 related
    Bonus
    $0 + $459,175 related
    Other
    $0 + $262 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $19,338 related
    Filer's total
    $0 + $1,004,842 related

  • Monte Mills MD

    FORMER DIRECTOR

    Total calculated
    $794,872
    From this org
    $0
    From related orgs
    $732,652
    Other
    $62,220
    Hours/week
    0 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $414,943 related
    Bonus
    $0 + $316,957 related
    Other
    $0 + $752 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $29,220 related
    Filer's total
    $0 + $794,872 related

  • Gil Binenbaum MD

    SECRETARY, DIRECTOR

    Total calculated
    $737,438
    From this org
    $0
    From related orgs
    $675,949
    Other
    $61,489
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $400,752 related
    Bonus
    $0 + $274,707 related
    Other
    $0 + $490 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $28,489 related
    Filer's total
    $0 + $737,438 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 4B
N SCOTT ADZICK, MD - 266,610 SCHEDULE J, PART II SURGICAL ASSOCIATES RESEARCH AND EDUCATION FOUNDATION (SAREF) IS A SUBSIDIARY OF THE CHILDREN'S HOSPITAL OF PHILADELPHIA. SAREF'S PHYSICIANS, WHO ARE COMMON LAW EMPLOYEES, ARE W-2 EMPLOYEES OF EITHER THE UNIVERSITY OF PENNSYLVANIA (AN UNRELATED ORGANIZATION) OR THE CHILDREN'S HOSPITAL OF PHILADELPHIA (A RELATED ORGANIZATION).

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • VITARA BIOMEDICAL INC

    C CORP · BIOMEDICAL · DE

    Directly controlled by CHOP FOUNDATION

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

10 distributions to recipients named as people, $8,574,226 in total. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2023
Filed
4 April 2025
IRS schema version
2023v6.0
Source object
202501019349301725

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