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Nonprofiteer
← The Chest Foundation

Form 990 for tax year 2022

Filed by The Chest Foundation.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 15 April 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$1,677,565 changed to $161,080
Total expenses
$1,465,244 changed to $55,494
Contributions and grants received
$1,388,612 changed to $199,387
Grants paid
$800,505 changed to $0
Program service revenue
$913 changed to $960
Investment income
$437,138 changed to -$39,267
Other revenue
-$149,098 changed to $0
Total assets, end of year
$19,817,610 changed to $0
Total liabilities, end of year
$908,817 changed to $0
Net assets or fund balances, end of year
$18,908,793 changed to $0
Program services expenses
$905,149 changed to $7,748
Management and general expenses
$82,940 changed to $30,843
Fundraising expenses
$477,155 changed to $16,903
Program service expenses (Part III)
$905,149 changed to $7,748

Totals

Total revenue
$1,677,565
Total expenses
$1,465,244
Contributions and grants received
$1,388,612
Grants paid
$800,505
Program service revenue
$913
Investment income
$437,138
Other revenue
-$149,098
Total assets, end of year
$19,817,610
Total liabilities, end of year
$908,817
Net assets or fund balances, end of year
$18,908,793
Program services expenses (Part IX)
$905,149
Management and general expenses
$82,940
Fundraising expenses
$477,155
Program service expenses (Part III)
$905,149

Program services were 61.8% 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.

  • 1c · Fundraising events

    $382,284

  • 1f · All other contributions, gifts and grants

    $1,006,328

  • 1g · Noncash contributions included above

    $1,064

  • 2a · Program service revenue: Educational Programs

    total $913 · related or exempt $913

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $322,824 · excluded $322,824

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $1,071,840

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

    securities $957,526

  • 7c · Gain or loss

    securities $114,314 · other assets $0

  • 7d · Net gain or loss

    total $114,314 · excluded $114,314

  • 8a · Fundraising events: gross income

    $103,000

  • 8a · Fundraising events: contributions included on line 1c

    $382,284

  • 8b · Fundraising events: direct expenses

    $258,066

  • 8c · Net income from fundraising events

    total -$155,066 · excluded -$155,066

  • 9a · Gaming: gross income

    $92,990

  • 9b · Gaming: direct expenses

    $87,022

  • 9c · Net income from gaming

    total $5,968 · excluded $5,968

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $594,505 · program services $594,505

  • 2 · Grants to domestic individuals

    total $49,000 · program services $49,000

  • 3 · Grants to foreign organizations and individuals

    total $157,000 · program services $157,000

  • 11b · Fees: legal

    total $12,715 · management and general $12,715

  • 11c · Fees: accounting

    total $24,931 · management and general $24,931

  • 11f · Fees: investment management

    total $28,528 · management and general $28,528

  • 11g · Fees: other

    total $127,173 · program services $19,599 · management and general $7,225 · fundraising $100,349

  • 12 · Advertising and promotion

    total $25,528 · program services $2,654 · management and general $2,539 · fundraising $20,335

  • 13 · Office expenses

    total $53,429 · program services $22,173 · management and general $753 · fundraising $30,503

  • 17 · Travel

    total $43,924 · program services $12,564 · management and general $822 · fundraising $30,538

  • 19 · Conferences, conventions and meetings

    total $178,490 · program services $39,654 · management and general $5,427 · fundraising $133,409

  • 24a · Other expenses: Bad debts

    total $166,000 · program services $8,000 · fundraising $158,000

  • 24b · Other expenses: Dues and subscriptions

    total $4,021 · fundraising $4,021

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $15,369,084 · end of year $2,183,267

  • 3 · Pledges and grants receivable

    beginning of year $540,880 · end of year $416,126

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $52,886 · end of year $48,630

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $1,056,413 · end of year $12,406,525

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $5,071,567 · end of year $4,763,062

  • 17 · Accounts payable and accrued expenses

    beginning of year $991,427 · end of year $908,817

  • 19 · Deferred revenue

    beginning of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $15,943,135 · end of year $14,762,410

  • 28 · Net assets with donor restrictions

    beginning of year $5,156,268 · end of year $4,146,383

Mission and programs · 2022

Mission

The CHEST Foundation champions lung health by supporting clinical research, community service and patient education.

Activities or mission (Part I)

The CHEST Foundation's mission is to champion lung health.

  • SINCE ITS INCEPTION, THE CHEST FOUNDATION (THE FOUNDATION) HAS OFFERED MEMBERS OF THE AMERICAN COLLEGE OF CHEST PHYSICIANS (CHEST) OPPORTUNITIES TO SECURE GRANTS FOR CLINICAL RESEARCH PROJECTS IN DISCIPLINES OF PULMONARY, CRITICAL CARE, AND SLEEP MEDICINE, AND ON TOPICS RANGING FROM ASTHMA TO LUNG CANCER. THE CHEST FOUNDATION PARTNERS WITH OTHER ORGANIZATIONS TO CREATE RESEARCH OPPORTUNITIES IN OVER 10 DISEASE STATES AND COLLABORATIVELY OFFERS MONETARY AWARDS TO SUPPORT CLINICAL RESEARCH THAT LEADS TO IMPROVEMENT IN PATIENT CARE. AWARD APPLICATIONS ARE PEER-REVIEWED BY CHEST CLINICIAN COMMITTEES WHO THEN SELECT RECIPIENTS USING A DETAILED SCORING RUBRIC. THE FOUNDATION TRACKS PROGRESS OF ALL CLINICAL RESEARCH AND COMMUNITY SERVICE AWARD RECIPIENTS OVER TIME. THE FOUNDATION ALSO OFFERS COMMUNITY SERVICE GRANTS TO SUPPORT SIGNIFICANT COMMUNITY-BASED PROJECTS THAT BENEFIT FROM THE VOLUNTEER SERVICE OF CHEST MEMBERS WORLDWIDE. SELECTED PROJECTS MUST SHOW A CLEAR IMPACT ON THEIR COMMUNITY AND HAVE POTENTIAL FOR LONG-TERM SUSTAINABILITY AND REPLICABILITY. THE GRANTS ARE PAID TO THE NON-PROFIT OR NON-GOVERNMENTAL ORGANIZATION IN WHICH THE CHEST MEMBER DONATES TIME AND MEDICAL SERVICE.

    Expenses $774,166 · Grants $748,667

  • THE CHEST FOUNDATION DEVELOPS, OFTEN WITH PATIENT ADVOCACY PARTNERS, HIGH QUALITY PEER-REVIEWED PATIENT EDUCATION MATERIALS AND TOOLS ACROSS MORE THAN 60 LUNG HEALTH TOPICS. THE FOUNDATION DISSEMINATES THOSE MATERIALS TO PATIENTS, CAREGIVERS, THE GENERAL PUBLIC, AS WELL AS MEMBERS OF CHEST. DISSEMINATION AND AWARENESS OF HIGH-QUALITY MATERIALS ARE DELIVERED VIA CHEST'S COMMUNICATION CHANNELS, SOCIAL AND NEW MEDIA, THE FOUNDATION'S WEBSITE, TOPIC-SPECIFIC MICRO-SITES, PATIENT-FACING PARTNER ORGANIZATIONS, AND OTHER EXTERNAL CHANNELS AND PARTNERS THAT REACH CLINICIANS, PATIENTS, CAREGIVERS AND THE PUBLIC. IN ADDITION, THE FOUNDATION HAS DEVELOPED NATIONAL, COMPREHENSIVE, MULTI-CHANNEL DISEASE SPECIFIC CAMPAIGNS THAT FOCUS ON LUNG HEALTH BARRIERS AND AREAS OF INTEREST THAT REACH PATIENTS, THEIR FAMILIES, AND THEIR HEALTHCARE PROVIDERS. INFORMATION DEVELOPED AND DISSEMINATED IN THE CAMPAIGN, OFTEN IN COALITION WITH OTHER ORGANIZATIONS, MAY RANGE FROM CAUSES, SYMPTOMS, PREVENTION, DIAGNOSIS, TREATMENT AND TOOLS THAT MEET THE NEEDS OF PATIENTS, CAREGIVERS AND CLINICIANS. TYPICAL LUNG CONDITIONS COVERED ARE: ASTHMA, COPD, LUNG CANCER, PULMONARY ARTERIAL HYPERTENSION AND INTERSTITIAL LUNG DISEASE (LIKE PULMONARY FIBROSIS). THROUGH THESE PATIENT-AND-CLINICIAN FOCUSED PROJECTS AND CAMPAIGNS, THE FOUNDATION IS PROVIDING INFORMATION AND TOOLS THAT EMPOWER A COMMUNITY OF PATIENTS AND CAREGIVERS TO MORE EFFECTIVELY COMMUNICATE WITH HEALTHCARE PROVIDERS, MAKE MORE INFORMED DECISIONS ABOUT THEIR HEALTH, AND PARTICIPATE MORE FULLY IN MANAGING THEIR DISEASE OR CONDITION.

    Expenses $130,983 · Grants $51,838 · Revenue $913

As filed on the 2022 return.

Listed in Part VII

  • Edward J Diamond MD MBA FCCP

    Immediate Past President and Trustee

    Total calculated
    $0
    Hours/week
    1

  • Edward J Diamond MD MBA FCCP

    Immediate Past President and Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ian T Nathanson MD FCCP

    President and Trustee

    Total calculated
    $0
    Hours/week
    2

  • Ian T Nathanson MD FCCP

    President and Trustee

    Total calculated
    $0
    Hours/week
    2

  • Robert De Marco MD FCCP

    President -Elect and Trustee

    Total calculated
    $0
    Hours/week
    1

  • Robert De Marco MD FCCP

    President -Elect and Trustee

    Total calculated
    $0
    Hours/week
    1

  • Bravein Amalakuhan MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Bravein Amalakuhan MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Burton L Lesnick MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Burton L Lesnick MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Carolyn M D'Ambrosio MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Carolyn M D'Ambrosio MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • David J Steiger MBChB FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • David J Steiger MBChB FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jairo A Melo MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jairo A Melo MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jay I Peters MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jay I Peters MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kim D French MHSA CAPPM FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kim D French MHSA CAPPM FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mitchell C Feldman

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mitchell C Feldman

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Patti Tuomey EdD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Patti Tuomey EdD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Salim R Surani MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Salim R Surani MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Semra Bilaceroglu MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Semra Bilaceroglu MD FCCP

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Robert A Musacchio PhD

    EVP/CEO

    Total calculated
    $249,447
    From this org
    $0
    From related orgs
    $234,947
    Other
    $14,500
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $189,396 related
    Bonus
    $0 + $33,000 related
    Other
    $0 + $12,551 related
    Deferred
    $0 + $14,500 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $249,447 related

  • Stratton Davies CPA

    CFO

    Total calculated
    $159,537
    From this org
    $0
    From related orgs
    $143,163
    Other
    $16,374
    Hours/week
    3 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $113,926 related
    Bonus
    $0 + $21,692 related
    Other
    $0 + $7,545 related
    Deferred
    $0 + $9,641 related
    Nontaxable benefits
    $0 + $6,733 related
    Filer's total
    $0 + $159,537 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)

Schedule J, Part I, Line 3 Establish CEO and executive director compensation
Compensation for the CEO is paid by American College of Chest Physicians (CHEST), a related organization. CHEST has a compensation committee, which engaged an independent compensation consultant to provide market comparability data, including peer group data analysis, compensation studies and surveys.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ACCP ENTERPRISES INC

    C Corporation · EDUCATION · IL · 0% owned

    Directly controlled by AMERICAN COLLEGE OF CHEST PHYSICIANS

Provenance

Return type
form_990
Tax year
2022
Filed
1 November 2023
IRS schema version
2022v5.0
Source object
202343059349301654

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