Form 990 for tax year 2024

Totals

Total revenue

$481,384,946

Total expenses

$454,060,970

Contributions and grants received

$51,099,022

Grants paid

$10,342,595

Program service revenue

$389,621,951

Investment income

$37,693,942

Other revenue

$2,970,031

Total assets, end of year

$1,318,654,075

Total liabilities, end of year

$399,252,421

Net assets or fund balances, end of year

$919,401,654

Program services expenses (Part IX)

$393,421,902

Management and general expenses

$57,816,409

Fundraising expenses

$2,822,660

Program service expenses (Part III)

$393,421,902

Program services were 86.6% 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.

Mission and programs · 2024

• The Rehabilitation Institute of Chicago (RIC) was founded in 1951 as an Illinois not-for-profit corporation. In 2017 RIC with 182 beds, began doing business as the Shirley Ryan Abilitylab (SRAlab) and moved to a new building with 242 licensed beds. This move brought not only a physical change of address but a whole new model to the field of rehabilitation. Upon opening the 1.2-million-square-foot SRAlab became the first-ever "translational" rehabilitation research hospital in which clinicians, scientists, innovators and technologists work together in the same space, surrounding patients, discovering new approaches and applying (or "translating") research in real time. SRAlab's vision is to advance human ability through science and research. The organization has earned the distinction of being named the nation's #1-ranked provider of comprehensive physical medicine and rehabilitation care to patients from around the world every year since the designation's inception in 1992 by U.S. News & World Report - a record for any U.S. hospital. In addition to being a large rehabilitation hospital, SRAlab is the nation's largest rehabilitation research enterprise, advancing the field globally through innovation of the most advanced treatments and technologies. For FY 2025 SRAlab's system of care included a 262-bed hospital located at 355 East Erie Street in Chicago and numerous outpatient and day rehabilitation programs in the Chicago metropolitan area and surrounding suburbs. In addition, we manage the rehabilitation service line in several acute care hospitals through our strategic alliance platform, primarily in the Chicagoland area. We completed our second full year managing the inpatient rehabilitation service at Hennepin Healthcare. In addition, we began managing the rehabilitation service line within Henry Ford Health. The Corporation offers a comprehensive range of inpatient, day rehabilitation and outpatient rehabilitation services. Inpatient rehabilitation services are provided using an interdisciplinary approach with a team bringing unique skills and knowledge to ensure patients achieve the best possible outcomes. Day rehabilitation is a similar model to inpatient in that it consists of an interdisciplinary approach for individuals. Once the patient does not require 24-hour nursing care and daily medical management, we are able to transition patients to the day rehabilitation model. Outpatient care is typically a singular discipline (e.g., physical therapy) and offers various levels of therapeutic intensity, depending on the patient's needs and goals. In FY 2025, our total net revenue grew by 4.9% resulting in $0.8M in net operating income, $0.8M better than budget. We improved financial ratios and exceeded debt covenant metrics, including debt service coverage ratio and days cash on hand (more than 411 days at year-end). In addition, Fitch Ratings upgraded Shirley Ryan AbilityLab's credit rating to A+ with stable outlook. Inpatient admissions to the Flagship facility were 1% below prior year; however, average daily census grew 2% relative to prior year. The day rehabilitation programs grew 3% year over year and the outpatient therapy programs were 2% below prior year. Our total research grant portfolio exceeds $150M. SRAlab offers the ability for patients to participate in research at the same time they are receiving clinical care. Since inception, SRAlab has worked relentlessly to develop and implement interventions that drive the very best outcomes. SRAlab serves patients with the most complex conditions with multiple medical and rehabilitation issues. The Advancement Department is in year 3 of the Accelerate Ability Campaign with an aim to raise money to support research initiatives and quality of life programs. Approximately $85M was raised and more than $20M secured in bequests toward a $100M goal. We continue our planning for a new and unique partnership with Henry Ford Healthcare, the Gilbert Family Foundation and Michigan State University which will allow us to bring our world-class care to the Detroit market. Construction is underway for the new tower in downtown Detroit as part of Henry Ford Healthcare's new facility expansion. This tower will house 72 rehabilitation beds managed through a joint venture between Henry Ford Health System and Shirley Ryan AbilityLab. It is the mission of SRAlab to not only focus on our patients but to also elevate the entire rehabilitation field. In FY 2025, SRAlab clinicians, physicians and researchers shared numerous presentations to various professional audiences as well as published papers on scientific and clinical advancements. SRAlab continues to focus on providing a number of unreimbursed services improving the quality of life for our patients. These services include vocational rehabilitation, virtual education and consumer health resources available free of charge to all through our LIFE (Learning Innovation, Family and Empowerments) Center web site, and adaptive sports and fitness services for children and adults. SRAlab continues to support the Robert R. McCormick Center for Hope & Equity to provide needed education for our staff and wraparound services for our patients who come from vulnerable communities.

  Expenses $325,708,871 · Revenue $378,641,775

• Research Program: SRAlab's Research Program is the world's largest physical rehabilitation research enterprise in pursuit of clinical advancement through scientific discovery. In Fiscal Year 2025, the Research Program had approximately 200 research projects underway, funded by more than $188 million in grants and donations from both private and public sources. Its experts regularly publish research in the world's foremost medical journals, including the Journal of the American Medical Association (JAMA) and its European equivalent, The Lancet, and it is home to federal research designations to develop cutting-edge solutions for patients. Shirley Ryan AbilityLab's research enterprise serves patients with the most severe, complex conditions - from traumatic brain and spinal cord injury to stroke, amputation and cancer-related impairment. The organization is renowned for breakthroughs in biomedical, neural, mechanical, and electrical engineering; bionics; molecular/cellular biology; robotics; and pharmacotherapeutics. All Shirley Ryan AbilityLab research directly addresses challenges faced by one or more of the patient populations served. Research into urgent patient problems is accelerated through space designed to facilitate collaboration across departments and disciplines. In fact, in this setting, research coexists with patient care and is fully integrated into the clinical environment, with patients engaged in the process. Because scientists' labs physically surround patients, the innovation feedback loop is shortened, and research is more focused. Shirley Ryan AbilityLab is already seeing breakthrough technology and treatments emerging from its applied-science model, proving that this "no boundaries" approach improves and accelerates discovery and innovation, and ultimately results in better, faster patient outcomes. The following are some of the many research highlights from Fiscal Year 2025: * Successfully competed for a grant proposing multi-modal treatment of function after amputation in pediatric population. * Completed a Phase 1b/2 trial for NVG-291 showing improvement in arm function and neural pathways for the chronic spinal cord injured patient. * Enrolled four pediatric subjects to repurpose an FDA-approved medication to restore muscle function in pediatric patients with no adverse events. * Completed development of a "stroke sensor toolkit" to automatically diagnose and help treat balance, strength and coordination in stroke patients. Another Fiscal Year 2025 achievement is the continuation of Shirley Ryan Ability Lab's Catalyst Grant Program. This program encourages innovation from every corner of the hospital - from nurses to administrators, environmental service technicians, physicians, and therapists - by inviting multidisciplinary teams to apply for funding to develop innovative solutions in collaboration with researchers. The central requirement is that the solution must directly address a problem faced by one or more of the hospital's patient populations. In the last year, the organization received 56 Catalyst Grant proposals submitted by a total of 223 applicants on interdisciplinary teams. It awarded 13 new Catalyst Grants to employees across the organization, who pursued innovation and discovery on a range of topics in the following projects: * Artificial Intelligence Test Lab: AI Agents to Improve Employee Access to Organizational Resources * Can We Be Doing More? Implementing Electrical Stimulation into Wound Care in the Spinal Cord Injury Population * Developing a Sensor System to Provide Feedback to Patients with Lower Extremity Weight-bearing Precautions * Parkinson's Boot Camp Roll Out Across DayRehab(TM) in Shirley Ryan AbilityLab * A Study on How Shank-to-vertical Angle Manipulation in Children with Cerebral Palsy who use Ankle Foot Orthoses Affects Vertical Ground Reaction Forces * Development of a Polycentric Elbow Prosthesis for Amputees with a Long Residual Limb * Incorporating Markerless Motion Capture into Physical Therapy for People with Multiple Sclerosis * Shirley Ryan AbilityLab Performance And Rating (PAR) System for Golfers with Disabilities * Who Should We Walk? Development and Validation of a Clinician-Oriented Recovery Calculator in Spinal Cord Injury * Investigating the Impact of Sex-Hormones on Corticospinal Excitability, Motor Learning, and Fatigue in Females with Multiple Sclerosis * Optimization of a Humanized 3D Muscle-Nerve Organ-on-a-Chip Platform to Advance Regenerative Rehabilitation Medicine * Towards Automated Gait Analysis during the 10-Meter Walk Test * Investigating the Role of the Spleen in Muscle Recovery During Aging

  Expenses $50,313,298 · Grants $10,342,595 · Revenue $7,984,668

• Medical Education: The Department of Physical Medicine and Rehabilitation at Northwestern University's Feinberg School of Medicine (Dept of PM&R) is housed within SRAlab, which has one of the largest and most highly respected residency programs in Physical Medicine and Rehabilitation in the country. Resident physicians spend three to four years rotating through the Dept of PM&R, taught by SRAlab physicians who are experts in this specialty, In FY 2025 SRAlab trained 52 residents. The SRAlab medical education program also provides opportunities for fourth year medical students from Northwestern University Feinberg School of Medicine to rotate in a rehabilitation setting to gain experience with spinal cord injury, brain injury, amputee rehabilitation, cancer rehabilitation, medically complex rehabilitation, and pediatric rehabilitation. There are approximately 180 medical students from Northwestern that rotate with us and an additional 50 medical students from other medical schools nationally that rotate with us. Fellowships: SRAlab offers 5 physician sub-specialty fellowships, funded primarily by donations, in Sports Medicine, Pain Medicine, Pediatric Rehabilitation, Brain Injury Rehabilitation, and Spinal Cord Injury Rehabilitation. In FY 2025, 13 physician fellows were named at SRAlab, 2 in Spinal Cord Medicine, 4 in Sports Medicine, 3 in Pediatric Rehabilitation, 2 in Brain Injury Medicine, and 2 in Pain Medicine. SRAlab also supports residencies for therapists, nurses and other non-physicians. . Prosthetics and Orthotics (P&O) Residency: SRAlab's Prosthetics thotics Center has several prosthetics thotics residency positions which are highly sought after. In FY2025, there were five residency positions, three orthotic residencies and two prosthetic residencies, each lasting 12 months. The American Board for Certification in Orthotics, Prosthetics, and Pedorthics (ABC) and the National Commission on Orthotic and Prosthetic Education (NCOPE) have implemented a combined discipline exam and residency model, therefore Shirley Ryan AbilityLab began transitioning to a dual-discipline (orthotics & prosthetics) residency model in FY2025. The first two dual-discipline residents were hired in July 2025, and all future hires will be dual-discipline residents. Each dual-discipline residency will last 24 months, and each resident will gain 12 months of orthotics experience and 12 months of prosthetics experience. Through these training programs, P&O residents are mentored by SRAlab's certified, licensed professionals and gain exposure to a variety of clinical presentations and pathologies, prosthetic and orthotic devices, clinical evaluation, prescription recommendation, documentation, collaboration with the multidisciplinary rehabilitation team, fitting, fabrication, assembly, alignment, maintenance, and repair of prosthetic and orthotic devices The Academy -Continuing Education Programs for Clinicians: Since 1953, the organization has offered continuing education programming to help healthcare professionals stay at the forefront of the field. Each year, more than 13,600 learners participate in Academy programs, which are taught by interdisciplinary teams of our recognized PM&R specialists and visiting experts from around the world. These programs cover the latest evidence-based rehabilitation interventions, assessments, and discoveries including new courses in Functional Neurologic Disorders, Cognition, Vision and Pediatric Rehabilitation. By incorporating flexible modalities such as on-site workshops, online webinars and courses, and outreach programs, the Academy seeks to bring the latest insights to healthcare professionals in a format that best meets their learning needs. In 2025, the Academy offered 12 courses and more than 200 webinars reaching attendees from all 50 states and 51 countries.

  Expenses $11,338,029 · Revenue $1,927,007

• SRAlab's Henry B. Betts LIFE Center is a virtual and multimedia education center providing patient education and consumer health information for patients, families, staff and the community. Everything in the collection relates in some way to people living with a wide range of cognitive and physical impairments, chronic conditions or diseases affecting function. The website enables individuals across the globe to have access to current, peer-reviewed patient education and consumer health resources with real-time updates, printing on demand and a dashboard to save favorite resources for easy access. Resources such as the LIFE Center help individuals, and their families navigate the intricacies of health care and minimize the complexity of relevant health information. Having access to information empowers people to partner with their health care team to make the best choices for themselves, their families and engage in life-long learning. The LIFE Center's resources are organized according to eight topic areas: Medical Information and Care, Caregiving and Equipment, Housing and Transportation, Education and Employment, Support and Wellness, Recreation and Leisure, Finance and Law and Inspiration and Hope. LIFE Center web traffic in FY 2025 averaged 14,248 page views per month, with 170,970 page views annually, across 189 countries. In FY 2025, total outreach and service efforts apart from web activity were 7,972 person contacts served which includes programs, classes, special events, resource requests, teaching activities, peer mentoring events, and tours for patients, families, staff and the community. Sports and Fitness Program: The SRAlab Adaptive Sports and Fitness Program provides wellness opportunities to people with physical disabilities through sports and recreation as well as an accessible fitness center. All services offered in the adaptive sports program, which marked its 44th year in FY 2025, are free of charge. The fitness programs, which celebrated its 29th anniversary, provide access to a 1-on-1 functional fitness activities and group fitness classes that operate five days a week between the hours of 6am to 6pm for a nominal participation fee. The sports and fitness program is funded primarily by grants and generous community donations and is operated by thirteen full time equivalent staff. Additionally, volunteers logged nearly 8500 hours in FY 2025. The Shirley Ryan Adaptive Sports and Fitness Program is considered a national leader in health promotion for people with disabilities. In FY 2025 we continued to expand programming, developing new initiatives to promote wellness opportunities for persons living with disabilities. The functional fitness program continues to provide services virtually, as well as, in person recording 8,456 one-on-one visits and welcomed 260 new participants ranging from age 12 to 96 in FY 2025. In addition, there were nearly 8,000 group class visits, held in person and virtually across three different sites. The sports program recorded over 6300 by 550 registered participants while the Tengelsen Family Foundation Sports for Kids program recorded more than 820 visits by 135 Chicago area children with disabilities. Adaptive Sports and Fitness programs continue to develop community partnerships and collaborations that open doors for people living with a disability to lead an active healthy lifestyle Vocational Rehabilitation Program: Beginning a career or returning to work following an illness or injury is important to a patient's financial security and emotional well-being. It can contribute to the achievement of a productive, independent and fulfilling life. For more than 50 years, the SRAlab has been providing comprehensive vocational rehabilitation services tailored to meet the needs of each client. Services include initial assessment, vocational counseling and guidance, diagnostic evaluation, work trial assessments, job analysis, return-to-work evaluations, job placement, resume writing, job interview workshops and internship coordination. The SRAlab covers the cost of initial assessments, which are not covered by most third-party payers. Patients receive vocational services at nine SRAlab facilities or via telehealth, ensuring that employment assistance is closely tied to community reintegration. During FY 2025 the program served 692 clients. In the last year, we placed 52 individuals in jobs. Assistive Technology Programs: The Technology Center and the Wheelchair & Seating center, comprise SRAlab's Assistive Technology Programs. In FY 2025, the Assistive Technology Programs served approximately 5,024 unique patients. The SRAlab Technology Center provides computer access training, smartphone/tablet access, augmentative communication evaluations/treatment, and electronic aids to daily living, including recommendations for home automation and modifications, for people with different or changing abilities. Occupational therapists and speech language pathologists evaluate and recommend equipment for each individual's needs. Through a lending library, or support from manufacturers facilitated by Technology Center staff, patients can try items before purchasing them or borrow them for short-term use due to changing needs. Staff members speak to universities, schools, organizations for people with disabilities, senior centers and the general public. We also provide continuing education lectures in assistive technology through assistive tech conferences and the SRALAB Academy. The center provides 1 to 2 home visits if the client can no longer come to SRALab following their evaluation. We have also integrated the use of telehealth appointments. Staff recommend applying for SRALab charity funds if Patients' insurance is maxed out. The Technology Center served a total of 1488 clients representing 647 inpatients, 365 Day Rehab clients, and 476 outpatients in the past fiscal year. Rehabilitation Engineering: The Rehabilitation Engineering program pairs an experienced OT with other allied health clinicians to provide consultation, evaluation, and design of individual solutions to aid persons with different abilities to complete activities of daily living with increased independence at home, work, and in the community. The Rehabilitation Engineering OT has access to fabrication materials and equipment embedded within the Prosthetics and Orthotics lab. Rehabilitation Engineering involves fabricating custom equipment and modifying commercially available equipment and objects to create unique, individualized solutions to help patients navigate obstacles encountered in daily life. SRAlab provides free care for services and products fabricated through the Rehabilitation Engineering program. SRAlab also partners with Northwestern University's engineering design program to provide real-life design experience to students. The Wheelchair & Seating Center staff evaluate and make recommendations for complex wheelchairs and customized seating systems for patients with significant mobility and postural needs. This includes manual wheelchairs; powered wheelchairs; custom-made and customized seat and back cushions to relieve pressure, prevent pressure sores, and maintain posture; alternative drive controls like sip and puff and head array systems; that help clients maintain or increase their mobility and independence, at home, work, or in the community. During FY25 the Wheelchair & Seating Center continued to use telehealth appointments to serve our patients that were unable to attend an in-person appointment. We had 3536 patient visits, including 974 inpatient visits and 2,562 outpatient visits this past fiscal year.

  Expenses $6,061,704 · Revenue $1,068,501

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

Listed in Part VII

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

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

• Northwestern University

  $2,730,308

  Payments for research study related activities

• University Of Illinois

  $974,179

  Payments for research study related activities

• Ann & Robert H Lurie Children's Hospital of Chicago

  $805,151

  Payments for research study related activities

• Berkeley Research Group Llc

  $677,082

  Payments for research study related activities

• National University

  $603,614

  Payments for research study related activities

• Baylor Research Institute Dba Baylor Scott & White Research Institute

  $341,308

  Payments for research study related activities

• Shepherd Center

  $240,484

  Payments for research study related activities

• University Of California Irvine

  $149,116

  Payments for research study related activities

• Rancho Research Institute

  $141,023

  Payments for research study related activities

• Mayo Clinic

  $140,000

  Payments for research study related activities

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.

• Rehabilitation Institute Inc

  501(c)(3) · Parent · IL

  Directly controlled by NA

• Pathways Foundation

  501(c)(3) · Rehabilitation Services · IL · controlled entity

  Directly controlled by Rehabilitation Institute of Chicago dba Shirley Ryan AbilityLab

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.

Provenance

Return type

form_990

Tax year

2024

Filed

12 July 2026

IRS schema version

2024v5.1

Source object

202621929349300507

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

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