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Nonprofiteer
← NEUROSURGERY RESEARCH AND EDUCATION FOUNDATION

Form 990 for tax year 2023

Filed by NEUROSURGERY RESEARCH AND EDUCATION FOUNDATION.

Totals

Total revenue
$1,260,828
Total expenses
$3,031,774
Contributions and grants received
$1,967,239
Grants paid
$1,795,882
Program service revenue
$435,000
Investment income
-$1,141,411
Other revenue
$0
Total assets, end of year
$20,013,856
Total liabilities, end of year
$7,518,215
Net assets or fund balances, end of year
$12,495,641
Program services expenses (Part IX)
$2,178,007
Management and general expenses
$523,740
Fundraising expenses
$330,027
Program service expenses (Part III)
$2,178,007

Program services were 71.8% 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.

  • 1c · Fundraising events

    $144,160

  • 1f · All other contributions, gifts and grants

    $1,823,079

  • 2a · Program service revenue: Prof. Develop. Courses

    total $435,000 · related or exempt $435,000

  • 3 · Investment income

    total -$999,392 · excluded -$999,392

  • 7a · Gross sales of assets other than inventory

    securities $1,421,327

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

    securities $1,563,346

  • 7c · Gain or loss

    securities -$142,019

  • 7d · Net gain or loss

    total -$142,019 · excluded -$142,019

  • 8a · Fundraising events: gross income

    $135,190

  • 8a · Fundraising events: contributions included on line 1c

    $144,160

  • 8b · Fundraising events: direct expenses

    $135,190

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,795,882 · program services $1,795,882

  • 7 · Other salaries and wages

    total $574,324 · management and general $244,297 · fundraising $330,027

  • 11a · Fees: management

    total $40,919 · management and general $40,919

  • 11b · Fees: legal

    total $36,684 · management and general $36,684

  • 11f · Fees: investment management

    total $75,971 · management and general $75,971

  • 11g · Fees: other

    total $42,493 · management and general $42,493

  • 13 · Office expenses

    total $56,911 · program services $10,268 · management and general $46,643

  • 17 · Travel

    total $176,337 · program services $166,043 · management and general $10,294

  • 24a · Other expenses: Facility Charges

    total $109,111 · program services $109,111

  • 24b · Other expenses: Supplies

    total $96,719 · program services $96,703 · management and general $16

  • 24c · Other expenses: Dues and Subscriptions

    total $26,423 · management and general $26,423

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year -$295,422 · end of year -$949,318

  • 3 · Pledges and grants receivable

    beginning of year $378,317 · end of year $69,766

  • 4 · Accounts receivable

    beginning of year $9,123,100 · end of year $7,700,030

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

    $7,445

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

    $7,445

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $25,175,235 · end of year $13,193,378

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,799,176 · end of year $106,935

  • 18 · Grants payable

    beginning of year $4,057,276 · end of year $5,670,960

  • 25 · Other liabilities

    beginning of year $1,925,449 · end of year $1,740,320

  • 27 · Net assets without donor restrictions

    beginning of year $2,782,561 · end of year $1,128,768

  • 28 · Net assets with donor restrictions

    beginning of year $21,816,768 · end of year $11,366,873

Mission and programs · 2023

Mission

NREF supports basic science and clinical research, as well as life-long education, to foster improved outcomes for our patients with neurosurgical diseases.

  • -To provide a private, non-governmental source of funding for research training in the neurosciences related to the field of neurological surgery;-To ensure the continued viability and expansion of the field of neurological surgery based on fundamental research in the basic sciences and clinical enterprises pertinent to neurosurgery;-To augment support for research endeavors by the neurosurgical community;-To stimulate learning by neurosurgeons and enhance educational opportunities for them throughout their careers.

    Expenses $2,178,007 · Grants $1,795,882 · Revenue $435,000

As filed on the 2023 return.

Listed in Part VII

  • Anthony L Asher

    AANS President

    Total calculated
    $0
    Hours/week
    2.5 + 10.5 related

  • Adam S Arthur

    Chair

    Total calculated
    $0
    Hours/week
    2.5

  • Charles L Branch Jr

    Vice-Chair

    Total calculated
    $0
    Hours/week
    2.5

  • Sepideh Amin-Hanjani

    Treasurer

    Total calculated
    $0
    Hours/week
    2.5 + 25 related

  • Gregory J Zipfel

    Secretary

    Total calculated
    $0
    Hours/week
    2.5

  • Frederick G Barker II

    Director

    Total calculated
    $0
    Hours/week
    2.5 + 0.5 related

  • Mohamad Bydon

    Director

    Total calculated
    $0
    Hours/week
    2.5 + 4 related

  • E Antonio Chiocca

    Director

    Total calculated
    $0
    Hours/week
    2.5 + 10 related

  • J Flagg Flanagan

    Director

    Total calculated
    $0
    Hours/week
    2.5

  • Jon H Robertson

    Director

    Total calculated
    $0
    Hours/week
    2.5

  • James T Rutka

    Director

    Total calculated
    $0
    Hours/week
    2.5

  • Michael Y Wang

    Director

    Total calculated
    $0
    Hours/week
    2.5

  • Stacey Wolfe

    Director

    Total calculated
    $0
    Hours/week
    2.5 + 10 related

  • Katherine O Orrico

    CEO

    Total calculated
    $380,400
    From this org
    $0
    From related orgs
    $327,014
    Other
    $53,386
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $312,014 related
    Bonus
    $0 + $15,000 related
    Other
    $0
    Deferred
    $0 + $32,525 related
    Nontaxable benefits
    $0 + $20,861 related
    Filer's total
    $0 + $380,400 related

  • Kathleen T Craig

    CEO (Until 12/31/23)

    Total calculated
    $677,599
    From this org
    $0
    From related orgs
    $623,276
    Other
    $54,323
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $623,276 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $21,323 related
    Filer's total
    $0 + $677,599 related

  • Carol Jones

    CFO

    Total calculated
    $224,895
    From this org
    $0
    From related orgs
    $190,681
    Other
    $34,214
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $190,681 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $34,214 related
    Filer's total
    $0 + $224,895 related

  • Michael A Chabraja

    Legal Counsel

    Total calculated
    $0
    Hours/week
    3.5

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

The filer's explanations (Part III)

Part I, Line 3
The compensation of the Chief Executive Officer was determined by the related organization - American Association of Neurosurgeons, Inc. The following methods were used: -Compensation survey or study -Approval by the board or compensation committee

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521359349317162

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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