Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $110,852

• 1f · All other contributions, gifts and grants

  $1,166,967

• 2a · Program service revenue: NATIONAL DATABASE

  total $9,891,041 · related or exempt $9,891,041

• 2b · Program service revenue: EDUCATIONAL MEETINGS

  total $4,987,970 · related or exempt $4,987,970

• 2c · Program service revenue: MEMBERSHIP DUES

  total $2,948,155 · related or exempt $2,948,155

• 2d · Program service revenue: TVT REGISTRY

  total $1,948,337 · related or exempt $1,948,337

• 2e · Program service revenue: PUBLICATIONS & SUBSCRI

  total $1,466,994 · related or exempt $1,466,994

• 2f · All other program service revenue

  total $1,432,696 · related or exempt $136,846 · unrelated business $1,295,850

• 3 · Investment income

  total $1,568,062 · excluded $1,568,062

• 5 · Royalties

  total $6,562,787 · excluded $6,562,787

• 6a · Gross rents

  real property $69,977

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $69,977

• 6d · Net rental income or loss

  total $69,977 · excluded $69,977

• 7a · Gross sales of assets other than inventory

  securities $11,484,301

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

  securities $11,820,922

• 7c · Gain or loss

  securities -$336,621

• 7d · Net gain or loss

  total -$336,621 · excluded -$336,621

• 11a · Other revenue: SPONSORSHIP & BRANDING

  total $181,500 · unrelated business $181,500

• 11b · Other revenue: EBLAST REVENUE

  total $51,500 · unrelated business $51,500

• 11c · Other revenue: WEBSITE BANNER REVENUE

  total $5,500 · unrelated business $5,500

• 11e · Other revenue, total

  $238,500

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,102,266

• 5 · Compensation of officers, directors and key employees

  total $5,428,956

• 7 · Other salaries and wages

  total $5,333,477

• 8 · Pension plan contributions

  total $412,571

• 9 · Other employee benefits

  total $903,655

• 10 · Payroll taxes

  total $643,886

• 11b · Fees: legal

  total $121,961

• 11c · Fees: accounting

  total $52,305

• 11f · Fees: investment management

  total $272,973

• 11g · Fees: other

  total $10,622,361

• 13 · Office expenses

  total $1,049,800

• 14 · Information technology

  total $559,271

• 16 · Occupancy

  total $605,483

• 17 · Travel

  total $416,456

• 19 · Conferences, conventions and meetings

  total $1,546,399

• 22 · Depreciation, depletion and amortization

  total $2,490,731

• 23 · Insurance

  total $187,971

• 24a · Other expenses: MEMBERSHIP AND CONTRIBU

  total $69,622

• 24b · Other expenses: UBI TAX

  total $19,531

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,589,717 · end of year $2,844,795

• 2 · Savings and temporary cash investments

  beginning of year $3,302,620 · end of year $846,661

• 4 · Accounts receivable

  beginning of year $1,217,765 · end of year $2,254,130

• 9 · Prepaid expenses and deferred charges

  beginning of year $538,018 · end of year $961,214

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

  $19,639,599

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

  $12,208,751

• 10c · Land, buildings and equipment, net

  beginning of year $9,014,207 · end of year $7,430,848

• 11 · Investments: publicly traded securities

  beginning of year $67,512,376 · end of year $59,504,958

• 15 · Other assets

  beginning of year $0 · end of year $2,329,137

• 17 · Accounts payable and accrued expenses

  beginning of year $7,935,827 · end of year $6,202,733

• 19 · Deferred revenue

  beginning of year $11,611,696 · end of year $10,932,971

• 25 · Other liabilities

  beginning of year $0 · end of year $3,592,139

• 27 · Net assets without donor restrictions

  beginning of year $65,443,919 · end of year $55,261,639

• 28 · Net assets with donor restrictions

  beginning of year $183,261 · end of year $182,261

The filer's explanations (Part III)

PART I, LINE 4B

LINE 4B: THE SOCIETY OF THORACIC SURGEONS HAS ESTABLISHED A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. THE SOCIETY CREDITS PARTICIPANTS ACCOUNTS WHICH ARE RECORDED ON FORM 990 AS DEFERRED COMPENSATION. THESE BALANCES VEST OVER A THREE-YEAR PERIOD. PARTICIPANT BALANCES ARE SUBJECT TO FORFEITURE PRIOR TO VESTING. THE PLAN CONTRIBUTIONS ARE HELD IN A RABBI TRUST AND REMAIN THE ASSET OF THE ORGANIZATION AND ARE SUBJECT TO THE CLAIMS OF THE ORGANIZATION'S GENERAL CREDITORS UNTIL SUCH AMOUNTS ARE PAID OUT TO THE INDIVIDUAL. DURING THE YEAR, ELAINE WEISS PARTICIPATED IN A NON-QUALIFIED SECTION 457(F) DEFERRED COMPENSATION PLAN. A DISTRIBUTION OF $16,779 WAS MADE FROM THE PLAN IN 2022.

PART I, LINE 7

AS INDICATED IN SCHEDULE J, PART II, CEO/EXECUTIVE DIRECTOR, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES OF THE ORGANIZATION ARE ELIGIBLE TO RECEIVE A BONUS BASED ON PERFORMANCE METRICS AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THIS BONUS WAS APPROVED BY BOARD OF DIRECTORS.