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Nonprofiteer
← JOINT RESTORATION FOUNDATION INC

Form 990 for tax year 2023

Filed by JOINT RESTORATION FOUNDATION INC.

Totals

Total revenue
$69,440,734
Total expenses
$67,959,547
Contributions and grants received
$5,875
Grants paid
$2,347,011
Program service revenue
$69,292,889
Investment income
$141,970
Other revenue
$0
Total assets, end of year
$18,145,191
Total liabilities, end of year
$9,407,491
Net assets or fund balances, end of year
$8,737,700
Program services expenses (Part IX)
$64,754,901
Management and general expenses
$3,204,646
Fundraising expenses
$0
Program service expenses (Part III)
$64,754,901

Program services were 95.3% 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

    $5,875

  • 2a · Program service revenue: TISSUE DISTRIBUTION & PROCESSING

    total $69,292,889 · related or exempt $69,292,889

  • 3 · Investment income

    total $141,970 · excluded $141,970

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,289,154 · program services $2,289,154

  • 3 · Grants to foreign organizations and individuals

    total $57,857 · program services $57,857

  • 5 · Compensation of officers, directors and key employees

    total $1,003,584 · program services $373,270 · management and general $630,314

  • 6 · Compensation of disqualified persons

    total $1,660 · program services $1,424 · management and general $236

  • 7 · Other salaries and wages

    total $3,063,708 · program services $2,628,842 · management and general $434,866

  • 8 · Pension plan contributions

    total $239,511 · program services $125,973 · management and general $113,538

  • 9 · Other employee benefits

    total $372,711 · program services $299,154 · management and general $73,557

  • 10 · Payroll taxes

    total $290,478 · program services $217,858 · management and general $72,620

  • 11b · Fees: legal

    total $124,646 · management and general $124,646

  • 11c · Fees: accounting

    total $61,533 · management and general $61,533

  • 11g · Fees: other

    total $289,263 · program services $94,197 · management and general $195,066

  • 12 · Advertising and promotion

    total $146,764 · program services $132,088 · management and general $14,676

  • 13 · Office expenses

    total $395,722 · program services $39,572 · management and general $356,150

  • 14 · Information technology

    total $603,444 · program services $482,755 · management and general $120,689

  • 16 · Occupancy

    total $328,799 · program services $295,919 · management and general $32,880

  • 17 · Travel

    total $256,295 · program services $217,851 · management and general $38,444

  • 19 · Conferences, conventions and meetings

    total $203,858 · program services $183,472 · management and general $20,386

  • 20 · Interest

    total $1,207 · management and general $1,207

  • 22 · Depreciation, depletion and amortization

    total $128,385 · program services $90,084 · management and general $38,301

  • 23 · Insurance

    total $237,341 · program services $190,240 · management and general $47,101

  • 24a · Other expenses: TISSUE RECOVERY, PROCES

    total $55,373,671 · program services $55,373,671

  • 24b · Other expenses: CONTRACT LABOR

    total $1,217,766 · program services $1,217,766

  • 24c · Other expenses: BANK FEES

    total $637,766 · management and general $637,766

  • 24d · Other expenses: RESEARCH & DEVELOPMENT

    total $443,754 · program services $443,754

  • 24e · All other expenses

    total $190,670 · management and general $190,670

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,385,718 · end of year $4,021,011

  • 4 · Accounts receivable

    beginning of year $8,440,524 · end of year $9,938,274

  • 8 · Inventories for sale or use

    beginning of year $2,103,767 · end of year $2,889,935

  • 9 · Prepaid expenses and deferred charges

    beginning of year $153,294 · end of year $147,999

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

    $1,329,230

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

    $1,141,004

  • 10c · Land, buildings and equipment, net

    beginning of year $274,190 · end of year $188,226

  • 14 · Intangible assets

    beginning of year $265,625 · end of year $228,125

  • 15 · Other assets

    beginning of year $934,307 · end of year $731,621

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,748,840 · end of year $5,482,941

  • 23 · Secured mortgages and notes payable

    beginning of year $185,472 · end of year $29,600

  • 25 · Other liabilities

    beginning of year $3,366,600 · end of year $3,894,950

  • 27 · Net assets without donor restrictions

    beginning of year $7,256,513 · end of year $8,737,700

Mission and programs · 2023

Mission

THE MISSION OF JOINT RESTORATION FOUNDATION IS TO IMPROVE QUALITY OF LIFE THROUGH INNOVATIVE SOLUTIONS FOR ALLOGRAFT JOINT REPAIR.

Activities or mission (Part I)

IMPROVE MOVEMENT AND QUALITY OF LIFE THROUGH INNOVATIVE SOLUTIONS FOR ALLOGRAFT JOINT REPAIR

  • DISTRIBUTION: THE JOINT RESTORATION FOUNDATION (JRF) MAXIMIZES THE GIFT OF HUMAN DONATED TISSUE BY RESTORING MOVEMENT AND ENHANCING THE QUALITY OF LIFE FOR RECIPIENTS OF THIS TISSUE. AS THE LEADING PROVIDER OF FRESH CARTILAGE ALLOGRAFTS FOR JOINT REPAIR, AND ONE OF THE NATION'S LARGEST PROVIDERS OF ALLOGRAFT TISSUE FOR SPORTS MEDICINE, JRF WORKS WITH THE MEDICAL COMMUNITY TO MATCH CLINICAL INDICATIONS WITH THE CORRECTLY SIZED ALLOGRAFT TISSUE TO ENABLE SUCCESSFUL OUTCOMES (ENHANCED MOBILITY) FOR OVER 4,000 RECIPIENTS WE HELP ANNUALLY. JRF'S STAFF IS FULLY TRAINED ON THE USE OF ALLOGRAFT TISSUE, ENABLING THEM TO DISCUSS OPTIONS WITH SURGEONS AND OTHER MEDICAL PERSONNEL.

    Expenses $62,093,007 · Revenue $69,292,889

  • GRANTS, RESEARCH AND CHARITABLE CONTRIBUTIONS: JRF SPONSORS VARIOUS UNIVERSITY RESEARCH PROGRAMS WITH THE EXPECTATION THAT THROUGH INNOVATION, INGENUITY AND COMMITMENT THE BEST CLINICAL RESULTS FOR PATIENTS CAN BE ACHIEVED. BASED ON THESE RESEARCH EFFORTS AND COLLABORATIONS WITH EXTERNAL MEDICAL ADVISORS, JRF HAS ONGOING PROGRAMS FOR IMPROVING THE PROCESSING OF ALLOGRAFT TISSUE. TYPICAL RESULTS ARE GREATER AMOUNTS OF USABLE TISSUE, SATISFYING THE DESIRE OF DONORS AND THEIR FAMILIES TO HELP OTHERS. JRF ALSO PROVIDES ALLOGRAFT TISSUE FOR STUDIES TO FURTHER PROMOTE IMPROVED PATIENT OUTCOMES THROUGH THE USE OF ALLOGRAFTS. IN ADDITION, JOINT RESTORATION FOUNDATION SUPPORTS 501(C)(3) ORGANIZATIONS BY MAKING GRANTS TO PROMOTE DONATION AWARENESS AND EDUCATION.

    Expenses $2,465,146 · Grants $2,347,011

  • EDUCATION: JRF ANNUALLY CONDUCTS/SUPPORTS 6-8 EDUCATIONAL SYMPOSIUMS, SURGICAL TRAINING COURSES, AND HANDS-ON CLINICAL SESSIONS WITH SURGEONS AND ALLIED HEALTHCARE PROVIDERS TO AFFECT POSITIVE SURGICAL OUTCOMES FOR PATIENTS USING ALLOGRAFT TISSUE. ANOTHER CRITICAL COMPONENT OF JRF'S EDUCATION AND SERVICE IS ATTENDANCE AND SPONSORSHIP OF 6-8 NATIONALLY RECOGNIZED SURGICAL CONFERENCES. SURGEONS AND RELATED STAFF ARE ABLE TO LEARN ABOUT THE TECHNOLOGY PROVIDED BY JRF AND BECOME MORE FAMILIAR WITH TECHNICAL ADVANCES USING ALLOGRAFT TISSUE.

    Expenses $196,748

As filed on the 2023 return.

Listed in Part VII

  • Christian Bezenar

    FORMER PRESIDENT & EXECUTIVE DIRECTOR

    Total calculated
    $427,685
    From this org
    $374,726
    From related orgs
    $0
    Other
    $52,959
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,610
    Bonus
    $137,919
    Other
    $197
    Deferred
    $32,212
    Nontaxable benefits
    $20,747
    Filer's total
    $427,685

  • Keith Byers

    PRESIDENT & EXECUTIVE DIRECTOR

    Total calculated
    $298,226
    From this org
    $242,623
    From related orgs
    $0
    Other
    $55,603
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,642
    Bonus
    $51,711
    Other
    $270
    Deferred
    $22,870
    Nontaxable benefits
    $32,733
    Filer's total
    $298,226

  • Dean Elliott

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Daniel L Hood

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kevin Smith

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Diane Wilson

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Michael Palleschi

    CORPORATE CONTROLLER

    Total calculated
    $277,671
    From this org
    $220,143
    From related orgs
    $0
    Other
    $57,528
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,682
    Bonus
    $50,281
    Other
    $180
    Deferred
    $20,914
    Nontaxable benefits
    $36,614
    Filer's total
    $277,671

  • David Wilke

    CLINICAL RESEARCH DIRECTOR

    Total calculated
    $295,820
    From this org
    $259,649
    From related orgs
    $0
    Other
    $36,171
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,739
    Bonus
    $57,722
    Other
    $1,188
    Deferred
    $21,629
    Nontaxable benefits
    $14,542
    Filer's total
    $295,820

  • Dina Pasquino

    OPERATIONS DIRECTOR

    Total calculated
    $284,495
    From this org
    $237,053
    From related orgs
    $0
    Other
    $47,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,342
    Bonus
    $53,297
    Other
    $414
    Deferred
    $22,248
    Nontaxable benefits
    $25,194
    Filer's total
    $284,495

  • Aaron Moreng

    INFORMATION TECHNOLOGY MAN

    Total calculated
    $185,430
    From this org
    $141,958
    From related orgs
    $0
    Other
    $43,472
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,608
    Bonus
    $25,188
    Other
    $162
    Deferred
    $13,572
    Nontaxable benefits
    $29,900
    Filer's total
    $185,430

  • Sean Jacoby

    CUSTOMER SERVICE MANAGER

    Total calculated
    $170,180
    From this org
    $131,345
    From related orgs
    $0
    Other
    $38,835
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $106,065
    Bonus
    $25,100
    Other
    $180
    Deferred
    $12,695
    Nontaxable benefits
    $26,140
    Filer's total
    $170,180

  • Matthew Fretzs

    PRODUCT MANAGER

    Total calculated
    $159,315
    From this org
    $128,299
    From related orgs
    $0
    Other
    $31,016
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,571
    Bonus
    $22,458
    Other
    $270
    Deferred
    $11,973
    Nontaxable benefits
    $19,043
    Filer's total
    $159,315

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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 7
NON-FIXED PAYMENTS WERE PROVIDED TO THE EXECUTIVES BASED ON GOALS AND OBJECTIVES THAT WERE DETERMINED BY THE BOARD OF DIRECTORS. THESE GOALS AND OBJECTIVES ARE ESTABLISHED ANNUALLY AND ARE FOCUSED ON MEETING THE MISSION OF THE ORGANIZATION, AND FOR 2023, INCLUDED THE FOLLOWING: INCREASED DISTRIBUTION RATES FOR SPECIFIC GRAFTS AND GROWTH OF THE ORGANIZATION MEASURED BY MEETING REVENUE TARGETS FOR SPECIFIC GRAFTS. ACHIEVEMENT OF THESE GOALS IS PAID IN THE FOLLOWING YEAR AS A PERCENTAGE OF THEIR RESPECTIVE SALARY AT PERIOD END. POTENTIAL BONUS AWARD DISTRIBUTIONS WERE FACTORED INTO THE DETERMINATION AND ANALYSIS OF WHETHER SUCH INDIVIDUALS' COMPENSATION IS REASONABLE UNDER THE REBUTTABLE PRESUMPTION OF REASONABLENESS PROVISION IN THE TREASURY REGULATIONS.

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202402909349300215

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