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← UNIVERSITY CARDIOVASCULAR SURGICAL ASSOCIATES INC

Form 990 for tax year 2024

Filed by UNIVERSITY CARDIOVASCULAR SURGICAL ASSOCIATES INC.

Totals

Total revenue
$6,872,147
Total expenses
$6,736,325
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,871,829
Investment income
$318
Other revenue
$0
Total assets, end of year
$1,020,035
Total liabilities, end of year
$928,745
Net assets or fund balances, end of year
$91,290
Program services expenses (Part IX)
$6,037,190
Management and general expenses
$671,341
Fundraising expenses
$27,794
Program service expenses (Part III)
$6,037,190

Program services were 89.6% 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.

  • 2a · Program service revenue: FEES FROM RHODE ISLAND

    total $4,992,465 · related or exempt $4,992,465

  • 2b · Program service revenue: PATIENT FEES

    total $1,695,019 · related or exempt $1,695,019

  • 2c · Program service revenue: RESEARCH REVENUES

    total $179,902 · related or exempt $179,902

  • 2f · All other program service revenue

    total $4,443 · related or exempt $4,443

  • 3 · Investment income

    total $318 · excluded $318

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $3,173,307 · program services $3,006,543 · management and general $138,970 · fundraising $27,794

  • 7 · Other salaries and wages

    total $128,759 · program services $120,696 · management and general $8,063

  • 8 · Pension plan contributions

    total $61,717 · program services $59,865 · management and general $1,852

  • 9 · Other employee benefits

    total $93,999 · program services $91,179 · management and general $2,820

  • 10 · Payroll taxes

    total $99,098 · program services $96,125 · management and general $2,973

  • 11a · Fees: management

    total $239,318 · management and general $239,318

  • 11b · Fees: legal

    total $2,576 · management and general $2,576

  • 11c · Fees: accounting

    total $16,500 · management and general $16,500

  • 12 · Advertising and promotion

    total $1,250 · program services $915 · management and general $335

  • 13 · Office expenses

    total $36,604 · program services $26,769 · management and general $9,835

  • 16 · Occupancy

    total $74,035 · program services $54,144 · management and general $19,891

  • 17 · Travel

    total $16,272 · program services $16,272

  • 20 · Interest

    total $3,848 · management and general $3,848

  • 22 · Depreciation, depletion and amortization

    total $937 · program services $937

  • 23 · Insurance

    total $281,180 · program services $280,528 · management and general $652

  • 24a · Other expenses: OUTSIDE SERVICES

    total $2,477,503 · program services $2,254,528 · management and general $222,975

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $19,285 · program services $19,285

  • 24c · Other expenses: MISCELLANEOUS

    total $6,374 · program services $5,641 · management and general $733

  • 24d · Other expenses: LICENSES AND PERMITS

    total $3,763 · program services $3,763

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $105,568 · end of year $90,900

  • 4 · Accounts receivable

    beginning of year $740 · end of year $390

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

    $12,864

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

    $12,864

  • 10c · Land, buildings and equipment, net

    beginning of year $2,185 · end of year $0

  • 12 · Investments: other securities

    beginning of year $864,494 · end of year $928,745

  • 17 · Accounts payable and accrued expenses

    beginning of year $874,330 · end of year $928,745

  • 23 · Secured mortgages and notes payable

    beginning of year $143,189

  • 27 · Net assets without donor restrictions

    beginning of year -$91,640 · end of year $43,865

  • 28 · Net assets with donor restrictions

    beginning of year $47,108 · end of year $47,425

Mission and programs · 2024

Mission

THE CORPORATION IS ESTABLISHED FOR THE BENEFIT AND SUPPORT OF THE TEACHING, RESEARCH, AND PATIENT CARE MISSIONS OF THE DEPARTMENT OF SURGERY AND THE DIVISION OF CARDIOVASCULAR SURGERY AT VARIOUS UNIVERSITIES AND HOSPITALS.

  • CONDUCT TEACHING, RESEARCH, PATIENT CARE, ADMINISTRATIVE AND SUPERVISORY SERVICES FOR THE DEPARTMENT OF SURGERY AND THE DIVISION OF CARDIOVASCULAR SURGERY AT VARIOUS UNIVERSITIES AND HOSPITALS INCLUDING 2,026 SURGICAL PROCEDURES AND 2,048 EVALUATION AND MANAGEMENT SERVICES PERFORMED DURING THE FISCAL YEAR 2025.

    Expenses $6,037,190 · Revenue $6,871,829

As filed on the 2024 return.

Listed in Part VII

  • Mark Cunningham

    PRESIDENT

    Total calculated
    $831,238
    From this org
    $759,172
    From related orgs
    $0
    Other
    $72,066
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $559,007
    Bonus
    $200,000
    Other
    $165
    Deferred
    $63,692
    Nontaxable benefits
    $8,374
    Filer's total
    $831,238

  • Frank W Sellke MD

    FORMER PRESIDENT

    Total calculated
    $876,185
    From this org
    $735,993
    From related orgs
    $0
    Other
    $140,192
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $671,014
    Bonus
    $64,750
    Other
    $229
    Deferred
    $102,500
    Nontaxable benefits
    $37,692
    Filer's total
    $876,185

  • Afshin Ehsan MD

    VICE PRESIDENT

    Total calculated
    $997,311
    From this org
    $859,288
    From related orgs
    $0
    Other
    $138,023
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $783,514
    Bonus
    $75,000
    Other
    $774
    Deferred
    $102,500
    Nontaxable benefits
    $35,523
    Filer's total
    $997,311

  • Neel R Sodha MD

    SECRETARY/TREASURER

    Total calculated
    $994,949
    From this org
    $876,521
    From related orgs
    $0
    Other
    $118,428
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $786,431
    Bonus
    $90,000
    Other
    $90
    Deferred
    $95,000
    Nontaxable benefits
    $23,428
    Filer's total
    $994,949

  • Dean Roye MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Aurora Pryor MD

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • James Fingleton MD

    PHYSICIAN

    Total calculated
    $299,900
    From this org
    $297,368
    From related orgs
    $0
    Other
    $2,532
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $297,368
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $2,532
    Filer's total
    $299,900

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 · Approval by the board or compensation committee

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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
2 February 2026
IRS schema version
2024v5.5
Source object
202620429349300342

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