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Nonprofiteer
← AMERICAN ACADEMY OF ORTHOPEDIC SURGEONS

Form 990 for tax year 2023

Filed by AMERICAN ACADEMY OF ORTHOPEDIC SURGEONS.

Totals

Total revenue
$46,499,521
Total expenses
$49,716,028
Contributions and grants received
$14,894,974
Grants paid
$564,000
Program service revenue
$28,909,235
Investment income
$255,240
Other revenue
$2,440,072
Total assets, end of year
$187,086,157
Total liabilities, end of year
$41,447,826
Net assets or fund balances, end of year
$145,638,331
Program services expenses (Part IX)
$29,635,096
Management and general expenses
$19,942,333
Fundraising expenses
$138,599
Program service expenses (Part III)
$29,635,096

Program services were 59.6% 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.

  • 1d · Related organizations

    $14,256,062

  • 1f · All other contributions, gifts and grants

    $638,912

  • 2a · Program service revenue: ANNUAL MEETING

    total $17,143,141 · related or exempt $16,689,356 · unrelated business $453,785

  • 2b · Program service revenue: REGISTRIES

    total $6,451,572 · related or exempt $6,451,572

  • 2c · Program service revenue: COURSE EDUCATION

    total $2,388,218 · related or exempt $2,388,218

  • 2d · Program service revenue: PUBLICATIONS AND OTHER

    total $2,064,322 · related or exempt $1,757,429 · unrelated business $306,893

  • 2e · Program service revenue: RENTAL INCOME FROM ORTHOPAEDIC SO

    total $861,982 · excluded $861,982

  • 3 · Investment income

    total $2,683,888 · excluded $2,683,888

  • 5 · Royalties

    total $6,305,394 · unrelated business $682,249 · excluded $5,623,145

  • 7a · Gross sales of assets other than inventory

    securities $44,294,425

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

    securities $46,723,073

  • 7c · Gain or loss

    securities -$2,428,648

  • 7d · Net gain or loss

    total -$2,428,648 · excluded -$2,428,648

  • 10a · Gross sales of inventory

    $4,015,701

  • 10b · Cost of goods sold

    $7,881,023

  • 10c · Net income from sales of inventory

    total -$3,865,322 · related or exempt -$3,865,322

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $521,500 · program services $521,500

  • 2 · Grants to domestic individuals

    total $42,500 · program services $42,500

  • 5 · Compensation of officers, directors and key employees

    total $8,300,567 · program services $3,412,341 · management and general $4,888,226

  • 7 · Other salaries and wages

    total $12,402,662 · program services $4,178,842 · management and general $8,095,070 · fundraising $128,750

  • 8 · Pension plan contributions

    total $1,207,795 · program services $552,620 · management and general $655,175

  • 9 · Other employee benefits

    total $1,842,308 · program services $1,017,813 · management and general $824,495

  • 10 · Payroll taxes

    total $1,467,497 · program services $863,531 · management and general $594,117 · fundraising $9,849

  • 11b · Fees: legal

    total $277,546 · program services $223,396 · management and general $54,150

  • 11c · Fees: accounting

    total $89,649 · program services $66,919 · management and general $22,730

  • 11f · Fees: investment management

    total $294,230 · management and general $294,230

  • 11g · Fees: other

    total $4,052,528 · program services $3,027,732 · management and general $1,024,796

  • 12 · Advertising and promotion

    total $397,577 · program services $397,577

  • 13 · Office expenses

    total $354,864 · program services $218,860 · management and general $136,004

  • 14 · Information technology

    total $1,842,611 · program services $1,625,924 · management and general $216,687

  • 16 · Occupancy

    total $3,361,162 · program services $2,616,997 · management and general $744,165

  • 17 · Travel

    total $1,809,964 · program services $1,097,112 · management and general $712,852

  • 19 · Conferences, conventions and meetings

    total $6,823,434 · program services $6,400,274 · management and general $423,160

  • 22 · Depreciation, depletion and amortization

    total $3,562,691 · program services $2,891,676 · management and general $671,015

  • 23 · Insurance

    total $696,253 · program services $414,554 · management and general $281,699

  • 24e · All other expenses

    total $368,690 · program services $64,928 · management and general $303,762

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $18,501,168 · end of year $11,715,258

  • 3 · Pledges and grants receivable

    beginning of year $1,563,150 · end of year $111,500

  • 4 · Accounts receivable

    beginning of year $3,997,943 · end of year $4,801,856

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,776,356 · end of year $4,191,871

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

    $40,590,866

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

    $25,586,692

  • 10c · Land, buildings and equipment, net

    beginning of year $11,686,497 · end of year $15,004,174

  • 11 · Investments: publicly traded securities

    beginning of year $91,865,271 · end of year $102,581,260

  • 12 · Investments: other securities

    beginning of year $27,279,158 · end of year $28,316,553

  • 15 · Other assets

    beginning of year $23,194,635 · end of year $20,363,685

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,138,843 · end of year $6,242,901

  • 19 · Deferred revenue

    beginning of year $13,279,157 · end of year $12,705,692

  • 25 · Other liabilities

    beginning of year $25,736,476 · end of year $22,499,233

  • 27 · Net assets without donor restrictions

    beginning of year $135,687,862 · end of year $144,597,480

  • 28 · Net assets with donor restrictions

    beginning of year $1,021,840 · end of year $1,040,851

Mission and programs · 2023

Mission

SERVING OUR PROFESSIONALS TO PROVIDE THE HIGHEST QUALITY MUSCULOSKELETAL CARE.

  • ANNUAL MEETING - PRESENTATION OF LECTURES AND SYMPOSIA ON ORTHOPAEDIC SURGERY AND RELATED TOPICS, NUMBER OF ATTENDEES IS 17,808 IN 2023.

    Expenses $10,109,932 · Revenue $16,689,356

  • COURSE EDUCATION - COURSES PROVIDED TO ORTHOPAEDIC PROFESSIONALS TO KEEP THEM ABREAST OF THE LATEST ADVANCES IN ORTHOPAEDIC SURGERY AND CARE AND TO PROVIDE CME. 23 COURSES OFFERED IN 2023.

    Expenses $2,046,823 · Revenue $2,388,218

  • OTHER PROGRAM SERVICES - INCLUDING PUBLIC RELATIONS, BOARD OF COUNCILORS, ADVOCACY, EDUCATION PROGRAMS, INTERNATIONAL ACTIVITIES, AND RESEARCH AND SCIENTIFIC AFFAIRS.

    Expenses $17,478,341 · Grants $564,000 · Revenue $4,343,679

As filed on the 2023 return.

Listed in Part VII

  • Kevin J Bozic MD

    PRESIDENT

    Total calculated
    $127,083
    From this org
    $127,083
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.5 + 7.5 related
  • Paul Tornetta III MD

    FIRST VICE-PRESIDENT

    Total calculated
    $69,160
    From this org
    $69,160
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 5 related
  • Annunziato Amendola MD

    SECOND VICE-PRESIDENT

    Total calculated
    $33,333
    From this org
    $33,333
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 5 related
  • Felix H Savoie MD

    PAST PRESIDENT

    Total calculated
    $20,000
    From this org
    $20,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5 + 2.5 related
  • Michael L Parks MD

    TREASURER

    Total calculated
    $0
    Hours/week
    1.5 + 1.5 related
  • Alfonso Mejia MD

    BOC CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Joel L Mayerson

    BOC CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Michael J Leddy III MD

    BOC SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Armando F Vidal MD

    BOS CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Adolph J Yates MD

    BOS CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Michael P Bolognesi MD

    BOS SECRETARY

    Total calculated
    $600
    From this org
    $600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1 + 1 related
  • Monica M Payares MD

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Chad A Kruger MD

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Evalina Burger MD

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Toni M McLaurin MD

    MEMBER AT LARGE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Lisa N Masters

    LAY MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Thomas E Arend Jr

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $1,010,106
    From this org
    $944,865
    From related orgs
    $0
    Other
    $65,241
    Hours/week
    40 + 40 related

    Schedule J breakdown matched by us

    Base
    $783,523
    Bonus
    $158,570
    Other
    $2,772
    Deferred
    $33,000
    Nontaxable benefits
    $32,241
    Filer's total
    $1,010,106
  • Konstantinos T Damalas

    CHIEF OPERATING OFFICER

    Total calculated
    $698,331
    From this org
    $636,591
    From related orgs
    $0
    Other
    $61,740
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $486,675
    Bonus
    $148,950
    Other
    $966
    Deferred
    $29,499
    Nontaxable benefits
    $32,241
    Filer's total
    $698,331
  • Anna Salt Troise

    CHIEF COMMERICAL OFFICER

    Total calculated
    $560,813
    From this org
    $500,899
    From related orgs
    $0
    Other
    $59,914
    Hours/week
    40 + 40 related

    Schedule J breakdown matched by us

    Base
    $412,395
    Bonus
    $88,084
    Other
    $420
    Deferred
    $33,000
    Nontaxable benefits
    $26,914
    Filer's total
    $560,813
  • Nathan T Glusenkamp

    CHIEF QUALITY & REGISTRIES

    Total calculated
    $474,657
    From this org
    $409,416
    From related orgs
    $0
    Other
    $65,241
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $366,318
    Bonus
    $42,678
    Other
    $420
    Deferred
    $33,000
    Nontaxable benefits
    $32,241
    Filer's total
    $474,657
  • Laura F Abrahams

    CHIEF HUMAN RESOURCE OFFIC

    Total calculated
    $351,487
    From this org
    $293,083
    From related orgs
    $0
    Other
    $58,404
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $261,635
    Bonus
    $30,482
    Other
    $966
    Deferred
    $26,163
    Nontaxable benefits
    $32,241
    Filer's total
    $351,487
  • Melissa A Young

    GENERAL COUNSEL

    Total calculated
    $428,573
    From this org
    $363,332
    From related orgs
    $0
    Other
    $65,241
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $351,294
    Bonus
    $10,232
    Other
    $1,806
    Deferred
    $33,000
    Nontaxable benefits
    $32,241
    Filer's total
    $428,573
  • Benjamin Harkinson

    COMMERCIAL SOLUTIONS DIREC

    Total calculated
    $329,332
    From this org
    $271,261
    From related orgs
    $0
    Other
    $58,071
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $258,302
    Bonus
    $12,539
    Other
    $420
    Deferred
    $25,830
    Nontaxable benefits
    $32,241
    Filer's total
    $329,332
  • Anthony Priore

    CHIEF MARKETING AND COMMUN

    Total calculated
    $311,690
    From this org
    $260,668
    From related orgs
    $0
    Other
    $51,022
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $241,084
    Bonus
    $16,384
    Other
    $3,200
    Deferred
    $24,108
    Nontaxable benefits
    $26,914
    Filer's total
    $311,690
  • Susan A McSorley

    LIVE EVENTS VICE PRESIDENT

    Total calculated
    $310,502
    From this org
    $259,343
    From related orgs
    $0
    Other
    $51,159
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $242,448
    Bonus
    $14,123
    Other
    $2,772
    Deferred
    $24,245
    Nontaxable benefits
    $26,914
    Filer's total
    $310,502
  • Hans J Koelsch

    PUBLICATIONS DIRECTOR

    Total calculated
    $295,174
    From this org
    $244,747
    From related orgs
    $0
    Other
    $50,427
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $235,127
    Bonus
    $6,848
    Other
    $2,772
    Deferred
    $23,513
    Nontaxable benefits
    $26,914
    Filer's total
    $295,174
  • Donna J Malert

    GOVERNANCE DIRECTOR

    Total calculated
    $267,640
    From this org
    $223,493
    From related orgs
    $0
    Other
    $44,147
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $200,625
    Bonus
    $5,843
    Other
    $17,025
    Deferred
    $20,062
    Nontaxable benefits
    $24,085
    Filer's total
    $267,640
  • Todd R Applebaum

    STRATEGIC PLANNING & PERFO

    Total calculated
    $268,518
    From this org
    $215,777
    From related orgs
    $0
    Other
    $52,741
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $204,999
    Bonus
    $10,148
    Other
    $630
    Deferred
    $20,500
    Nontaxable benefits
    $32,241
    Filer's total
    $268,518
  • Rachel M Bowers

    FINANCE DIRECTOR

    Total calculated
    $327,901
    From this org
    $271,460
    From related orgs
    $0
    Other
    $56,441
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $242,000
    Bonus
    $29,040
    Other
    $420
    Deferred
    $24,200
    Nontaxable benefits
    $32,241
    Filer's total
    $327,901
  • Scott Livingston

    IT OPERATIONS & SUPPORT DI

    Total calculated
    $281,063
    From this org
    $226,342
    From related orgs
    $0
    Other
    $54,721
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $219,753
    Bonus
    $5,959
    Other
    $630
    Deferred
    $22,480
    Nontaxable benefits
    $32,241
    Filer's total
    $281,063
  • Jayson N Murray

    CLINICAL QUALITY AND VALUE

    Total calculated
    $229,656
    From this org
    $210,910
    From related orgs
    $0
    Other
    $18,746
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $187,462
    Bonus
    $21,558
    Other
    $1,890
    Deferred
    $18,746
    Nontaxable benefits
    $0
    Filer's total
    $229,656
  • Reagan L Bayer

    REGISTRIES DIRECTOR

    Total calculated
    $242,619
    From this org
    $196,682
    From related orgs
    $0
    Other
    $45,937
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $190,227
    Bonus
    $5,541
    Other
    $914
    Deferred
    $19,023
    Nontaxable benefits
    $26,914
    Filer's total
    $242,619
  • Brian N Moore

    LEARNING & PRACTICE DIRECT

    Total calculated
    $249,453
    From this org
    $199,269
    From related orgs
    $0
    Other
    $50,184
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $189,479
    Bonus
    $9,198
    Other
    $592
    Deferred
    $17,943
    Nontaxable benefits
    $32,241
    Filer's total
    $249,453
  • Lise Puckorius Olc

    OLC CHIEF EXECUTIVE OFFICE

    Total calculated
    $319,536
    From this org
    $266,952
    From related orgs
    $0
    Other
    $52,584
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $256,703
    Bonus
    $7,477
    Other
    $2,772
    Deferred
    $25,670
    Nontaxable benefits
    $26,914
    Filer's total
    $319,536
  • Lane Compton

    PROJECT MANAGEMENT OFFICE DIRECTOR

    Total calculated
    $231,452
    From this org
    $181,332
    From related orgs
    $0
    Other
    $50,120
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $180,995
    Bonus
    $0
    Other
    $337
    Deferred
    $17,879
    Nontaxable benefits
    $32,241
    Filer's total
    $231,452
  • Paul Zemaitis

    LIVE EVENTS DIRECTOR

    Total calculated
    $215,453
    From this org
    $181,838
    From related orgs
    $0
    Other
    $33,615
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $172,000
    Bonus
    $8,520
    Other
    $1,318
    Deferred
    $17,850
    Nontaxable benefits
    $15,765
    Filer's total
    $215,453
  • Catherine A Boudreaux Hayes Assoc

    SENIOR GOVERNMENT RELATION

    Total calculated
    $236,055
    From this org
    $185,793
    From related orgs
    $0
    Other
    $50,262
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $180,208
    Bonus
    $5,249
    Other
    $336
    Deferred
    $18,021
    Nontaxable benefits
    $32,241
    Filer's total
    $236,055
  • Shreyasi Deb Assoc

    SR MANAGER HEALTH POLICY

    Total calculated
    $232,148
    From this org
    $182,251
    From related orgs
    $0
    Other
    $49,897
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $176,561
    Bonus
    $5,143
    Other
    $547
    Deferred
    $17,656
    Nontaxable benefits
    $32,241
    Filer's total
    $232,148
  • Shobha Ravikumar

    SR ENGINEERING DIRECTOR

    Total calculated
    $281,739
    From this org
    $227,245
    From related orgs
    $0
    Other
    $54,494
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $222,525
    Bonus
    $4,300
    Other
    $420
    Deferred
    $22,253
    Nontaxable benefits
    $32,241
    Filer's total
    $281,739
  • Scott Haskins

    IT OPERATIONS & SUPPORT DI

    Total calculated
    $257,409
    From this org
    $211,429
    From related orgs
    $0
    Other
    $45,980
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $188,750
    Bonus
    $21,000
    Other
    $1,679
    Deferred
    $19,066
    Nontaxable benefits
    $26,914
    Filer's total
    $257,409
  • Rebecca Bonds

    DATA MANAGEMENT & BI DIRECTOR

    Total calculated
    $210,610
    From this org
    $183,067
    From related orgs
    $0
    Other
    $27,543
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $173,215
    Bonus
    $7,500
    Other
    $2,352
    Deferred
    $17,322
    Nontaxable benefits
    $10,221
    Filer's total
    $210,610
  • Graham H Newson Retired - Assoc

    GOVERNMENT RELATIONS VP

    Total calculated
    $358,311
    From this org
    $302,337
    From related orgs
    $0
    Other
    $55,974
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $290,598
    Bonus
    $8,539
    Other
    $3,200
    Deferred
    $29,060
    Nontaxable benefits
    $26,914
    Filer's total
    $358,311
  • John Thomas King Retired

    CHIEF INFORMATION OFFICER

    Total calculated
    $203,954
    From this org
    $177,721
    From related orgs
    $0
    Other
    $26,233
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $156,800
    Bonus
    $20,398
    Other
    $523
    Deferred
    $7,426
    Nontaxable benefits
    $18,807
    Filer's total
    $203,954

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

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ORTHO PROPERTIES LLC

    RELATED · RENTAL · IL · 88.57% owned · general or managing partner

    Directly controlled by AMERICAN ACADEMY OF ORTHOPAEDIC SURGEONS

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202413049349302091

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