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Nonprofiteer
← AATS FOUNDATION

Form 990 for tax year 2024

Filed by AATS FOUNDATION.

Totals

Total revenue
$2,798,765
Total expenses
$2,952,370
Contributions and grants received
$2,038,179
Grants paid
$1,909,266
Program service revenue
$0
Investment income
$760,343
Other revenue
$243
Total assets, end of year
$13,028,010
Total liabilities, end of year
$967,974
Net assets or fund balances, end of year
$12,060,036
Program services expenses (Part IX)
$2,297,826
Management and general expenses
$425,403
Fundraising expenses
$229,141
Program service expenses (Part III)
$2,297,826

Program services were 77.8% 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.

  • 1f · All other contributions, gifts and grants

    $2,038,179

  • 3 · Investment income

    total $486,900 · excluded $486,900

  • 7a · Gross sales of assets other than inventory

    securities $403,656

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

    securities $130,213

  • 7c · Gain or loss

    securities $273,443

  • 7d · Net gain or loss

    total $273,443 · excluded $273,443

  • 11a · Other revenue: OTHER REVENUE

    total $243 · excluded $243

  • 11e · Other revenue, total

    $243

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $807,709 · program services $807,709

  • 2 · Grants to domestic individuals

    total $451,854 · program services $451,854

  • 3 · Grants to foreign organizations and individuals

    total $649,703 · program services $649,703

  • 7 · Other salaries and wages

    total $416,632 · program services $95,527 · management and general $198,684 · fundraising $122,421

  • 9 · Other employee benefits

    total $98,686 · program services $22,627 · management and general $47,062 · fundraising $28,997

  • 11b · Fees: legal

    total $5,821 · management and general $5,821

  • 11c · Fees: accounting

    total $49,064 · management and general $49,064

  • 11f · Fees: investment management

    total $29,559 · management and general $29,559

  • 11g · Fees: other

    total $54,158 · program services $5,055 · management and general $31,503 · fundraising $17,600

  • 12 · Advertising and promotion

    total $9,491 · program services $3,472 · management and general $1,130 · fundraising $4,889

  • 13 · Office expenses

    total $25,683 · program services $197 · management and general $805 · fundraising $24,681

  • 14 · Information technology

    total $25,166 · program services $529 · management and general $24,637

  • 16 · Occupancy

    total $18,922 · management and general $18,922

  • 17 · Travel

    total $201,744 · program services $190,072 · management and general $3,924 · fundraising $7,748

  • 24a · Other expenses: FOOD & BEVERAGE

    total $38,172 · program services $19,467 · fundraising $18,705

  • 24b · Other expenses: FACULTY HONORARIA

    total $31,500 · program services $31,500

  • 24c · Other expenses: AUDIO & VISUAL

    total $24,214 · program services $20,114 · fundraising $4,100

  • 24d · Other expenses: TAXES & FEES

    total $13,017 · management and general $13,017

  • 24e · All other expenses

    total $1,275 · management and general $1,275

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $393,135 · end of year $606,844

  • 3 · Pledges and grants receivable

    beginning of year $254,694 · end of year $45,579

  • 4 · Accounts receivable

    beginning of year $128,326 · end of year $237,000

  • 7 · Other notes and loans receivable

    beginning of year $2,419,682 · end of year $2,138,477

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,861 · end of year $41,285

  • 11 · Investments: publicly traded securities

    beginning of year $9,514,641 · end of year $9,938,057

  • 15 · Other assets

    beginning of year $110,997 · end of year $20,768

  • 17 · Accounts payable and accrued expenses

    beginning of year $244,823 · end of year $85,357

  • 18 · Grants payable

    beginning of year $1,275,258 · end of year $825,817

  • 19 · Deferred revenue

    end of year $56,800

  • 25 · Other liabilities

    beginning of year $18,442 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $4,820,725 · end of year $5,175,155

  • 28 · Net assets with donor restrictions

    beginning of year $6,476,088 · end of year $6,884,881

Mission and programs · 2024

Mission

SUPPORT CARDIOTHORACIC SURGEONS IN RESEARCH AND EDUCATION.

Activities or mission (Part I)

TO SUPPORT CARDIOTHORACIC SURGEONS IN RESEARCH AND EDUCATION.

  • TO PERFORM AND CARRY OUT SUCH OTHER EDUCATIONAL, SCIENTIFIC, AND CHARITABLE FUNCTIONS AND PURPOSES OF AATS SUCH AS: EVERY HEART BEAT MATTERS, SIR MAGDI YACOUB HOM PROGRAM, WTS MID-CAREER INVESTIGATOR AWARD, MARC R. DE LEVAL HOM PROGRAM, INTUITIVE SURGICAL ROBOTICS FELLOWSHIP, INTUITIVE ADVANCED LOBECTOMY COURSE, DAVID J. SUGARBAKER HOM PROGRAM, RESEARCH SCHOLARSHIPS, LAWRENCE H. COHN HOM PROGRAM, ATRICURE JAMES L. COX FELLOWSHIP, TIRONE DAVID HOM PROGRAM, AATS FOUNDATION EQUITY AWARD, VALERIE W. RUSCH HOM PROGRAM, RESIDENT RESEARCH CARDIAC SCHOLARSHIP, CLEVELAND CLINIC HOM PROGRAM, JACK A. ROTH HOM PROGRAM, SUMMER INTERN PROGRAM, TIMOTHY J. GARDNER HOM PROGRAM, ALDO R. CASTANEDA HOM PROGRAM, GLOBAL ACADEMIC EXCHANGE FUND, MEDTRONIC ADVANCED VALVE, ALAIN CARPENTIER HOM PROGRAM, F. GRIFFITH PEARSON HOM PROGRAM

    Expenses $1,652,512 · Grants $1,265,266

  • SURGICAL INVESTIGATOR PROGRAM - THE SURGICAL INVESTIGATOR PROGRAM SUPPORTS CLINICAL AND TRANSLATIONAL RESEARCH BY YOUNG CARDIOTHORACIC SURGEONS, INCLUDING TOPICS RELATED TO QUALITY AND OUTCOMES RESEARCH, AND STUDIES OF NEW AND INNOVATIVE THERAPIES, PROCEDURES, AND TECHNOLOGIES IN CARDIOTHORACIC SURGERY.

    Expenses $250,000 · Grants $250,000

  • GRAHAM TRAVELING FELLOWSHIP - THE EVARTS A. GRAHAM MEMORIAL TRAVELING FELLOWSHIP WAS ESTABLISHED IN 1951 BY THE AMERICAN ASSOCIATION FOR THORACIC SURGERY FOR THE PURPOSE OF SUPPORTING STUDY WITHIN NORTH AMERICA BY PROMISING YOUNG ACADEMIC CARDIOTHORACIC SURGEONS FROM OUTSIDE THE REGION TO BROADEN THEIR OVERALL TRAINING AND INCREASE INTERNATIONAL CONTACTS.

    Expenses $201,314 · Grants $200,000

  • MEDICAL STUDENT DIVERSITY SCHOLARSHIP - THESE SCHOLARSHIPS SUPPORT MEDICAL STUDENTS PLANNING TO PURSUE A CAREER IN CARDIOTHORACIC SURGERY AND WHO ARE FROM AN UNDERREPRESENTED IN MEDICINE POPULATION. UNDERREPRESENTED IN MEDICINE MEANS THOSE RACIAL AND ETHNIC POPULATIONSTHAT ARE UNDERREPRESENTED IN THE MEDICAL PROFESSION RELATIVE TO THEIR NUMBERS IN THE GENERAL POPULATION.

    Expenses $194,000 · Grants $194,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David H Adams MD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Marc R Moon MD

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Y Joseph Woo MD

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Leonard N Girardi MD

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Emile A Bacha MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Yolonda L Colson MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Joseph S Coselli MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gilles Dreyfus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Aubrey Galloway MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • A Marc Gillinov MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Rosemary F Kelly MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • David R Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • James D Luketich MD

    DIRECTOR (UNTIL 05/24)

    Total calculated
    $0
    Hours/week
    2

  • Pedro J Del Nido MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Maral Ouzounian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mehmet C Oz MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Vaughn A Starnes MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lars G Svensson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • David R Bobbitt Msc MBA

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $474,375
    From this org
    $0
    From related orgs
    $416,911
    Other
    $57,464
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $363,661 related
    Bonus
    $0 + $53,250 related
    Other
    $0
    Deferred
    $0 + $16,980 related
    Nontaxable benefits
    $0 + $40,484 related
    Filer's total
    $0 + $474,375 related

  • Deborah McClintock

    CHIEF FINANCIAL OFFICER

    Total calculated
    $196,198
    From this org
    $0
    From related orgs
    $162,105
    Other
    $34,093
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $139,105 related
    Bonus
    $0 + $23,000 related
    Other
    $0
    Deferred
    $0 + $6,930 related
    Nontaxable benefits
    $0 + $27,163 related
    Filer's total
    $0 + $196,198 related

  • Lisa Gibson

    DIRECTOR OF MARKETING & COMMUNICATIONS

    Total calculated
    $167,153
    From this org
    $0
    From related orgs
    $150,184
    Other
    $16,969
    Hours/week
    10 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $135,184 related
    Bonus
    $0 + $15,000 related
    Other
    $0
    Deferred
    $0 + $4,327 related
    Nontaxable benefits
    $0 + $12,642 related
    Filer's total
    $0 + $167,153 related

  • Melissa Binette

    VP, DEVELOPMENT & STRATEGIC PARTNERSHIPS

    Total calculated
    $229,467
    From this org
    $0
    From related orgs
    $184,951
    Other
    $44,516
    Hours/week
    20 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $167,451 related
    Bonus
    $0 + $17,500 related
    Other
    $0
    Deferred
    $0 + $9,139 related
    Nontaxable benefits
    $0 + $35,377 related
    Filer's total
    $0 + $229,467 related

  • Adam Silva

    VP OF ADMINISTRATION

    Total calculated
    $201,824
    From this org
    $0
    From related orgs
    $156,937
    Other
    $44,887
    Hours/week
    20 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $140,937 related
    Bonus
    $0 + $16,000 related
    Other
    $0
    Deferred
    $0 + $8,782 related
    Nontaxable benefits
    $0 + $36,105 related
    Filer's total
    $0 + $201,824 related

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 AATS FOUNDATION HAS NO EMPLOYEES BUT ITS CHIEF EXECUTIVE OFFICER IS COMPENSATED BY ITS RELATED ORGANIZATION, AATS. THE AATS EXECUTIVE COMMITTEE MEETS ANNUALLY TO DETERMINE THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER BASED UPON A REVIEW OF PERFORMANCE COMPARED TO OBJECTIVES ESTABLISHED AT THE BEGINNING OF THE YEAR BY THE EXECUTIVE COMMITTEE, BOARD, AND THE CHIEF EXECUTIVE OFFICER. FOLLOWING THE EXECUTIVE COMMITTEE'S RECOMMENDATION, THE FULL BOARD VOTES TO APPROVE THE RECOMMENDED COMPENSATION.

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
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202523169349302257

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

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