Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $435,297

• 1f · All other contributions, gifts and grants

  $5,000

• 2a · Program service revenue: Patient service revenue

  total $52,093,138 · related or exempt $52,093,138

• 2b · Program service revenue: Other service revenue

  total $17,860,208 · related or exempt $17,860,208

• 2c · Program service revenue: Research, service & other revenue

  total $4,630,844 · related or exempt $4,630,844

• 3 · Investment income

  total $1,199,543 · unrelated business $14,335 · excluded $1,185,208

• 7a · Gross sales of assets other than inventory

  securities $2,549,760

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

  securities $2,693,501

• 7c · Gain or loss

  securities -$143,741

• 7d · Net gain or loss

  total -$143,741 · excluded -$143,741

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,851,136 · program services $6,851,136

• 5 · Compensation of officers, directors and key employees

  total $42,131,750 · program services $42,131,750

• 7 · Other salaries and wages

  total $19,332,061 · program services $16,432,252 · management and general $2,899,809

• 8 · Pension plan contributions

  total $983,477 · program services $983,477

• 9 · Other employee benefits

  total $888,679 · program services $888,679

• 10 · Payroll taxes

  total $1,151,373 · program services $1,091,118 · management and general $60,255

• 11b · Fees: legal

  total $25,251 · management and general $25,251

• 11c · Fees: accounting

  total $79,679 · management and general $79,679

• 11f · Fees: investment management

  total $171,424 · management and general $171,424

• 11g · Fees: other

  total $1,443,987 · program services $1,152,753 · management and general $291,234

• 13 · Office expenses

  total $2,069,460 · program services $2,050,288 · management and general $19,172

• 16 · Occupancy

  total $1,967,747 · program services $1,967,747

• 19 · Conferences, conventions and meetings

  total $370,440 · program services $370,440

• 22 · Depreciation, depletion and amortization

  total $79,430 · program services $79,430

• 23 · Insurance

  total $584,424 · program services $527,398 · management and general $57,026

• 24a · Other expenses: Outside medical service

  total $3,592,194 · program services $3,592,194

• 24b · Other expenses: PO management services

  total $1,106,328 · program services $1,106,328

• 24c · Other expenses: BCH Support Tax

  total $1,041,881 · program services $1,041,881

• 24d · Other expenses: Coordinated Specialty P

  total $655,447 · program services $655,447

• 24e · All other expenses

  total $76,335 · program services $76,335

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $39,413,249 · end of year $30,258,038

• 4 · Accounts receivable

  beginning of year $6,360,076 · end of year $6,564,794

• 5 · Loans and receivables from officers and key people

  beginning of year $137,000 · end of year $66,667

• 7 · Other notes and loans receivable

  end of year $200,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $410,830 · end of year $334,632

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

  $2,039,713

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

  $707,925

• 10c · Land, buildings and equipment, net

  beginning of year $1,305,053 · end of year $1,331,788

• 11 · Investments: publicly traded securities

  beginning of year $58,542,262 · end of year $67,773,107

• 12 · Investments: other securities

  beginning of year $32,229,394 · end of year $34,898,318

• 15 · Other assets

  beginning of year $6,565,124 · end of year $7,025,498

• 17 · Accounts payable and accrued expenses

  beginning of year $5,911,461 · end of year $4,565,685

• 18 · Grants payable

  beginning of year $447,723 · end of year $0

• 19 · Deferred revenue

  beginning of year $6,942 · end of year $0

• 25 · Other liabilities

  beginning of year $23,949,778 · end of year $30,566,134

• 27 · Net assets without donor restrictions

  beginning of year $110,284,487 · end of year $108,958,426

• 28 · Net assets with donor restrictions

  beginning of year $4,362,597 · end of year $4,362,597

The filer's explanations (Part III)

Part I, Line 1a

The Foundation provides gross-up payments for mortgage forgiveness, tuition payments, long-term disability insurance, life insurance, and tax preparation fees. These payments are included as taxable wages during the year. All permanent full-time employees of the Foundation are eligible for the gross-up payments.

Part I, Line 4a

The Foundation established a nonqualified severance benefit plan called the Children's Orthopaedic Surgery Foundation, Inc. Severance Benefit Plan, effective as of September 1, 1991, to supplement the severance, death or disability benefits available to certain employees of the Foundation. The Board of Directors designates eligible employees and determines benefits. The Severance Benefit Plan was frozen as of December 31, 2004. Although the assets of the trust have been irrevocably set aside for payment of deferred compensation benefits, they are subject first to the claims of the Foundation's creditors in the event the Foundation is subject to bankruptcy proceedings.

Part I, Line 7

The Children's Orthopaedic Surgery Foundation, Inc. (the Foundation) paid bonus compensation based on revenues of the Foundation. Bonuses are normally paid in June and December. There is an income statement maintained for each physician. The bonuses are based on the excess balance accumulated in each physician's income statements, the performance of the physician during the six month period, the necessary reserve requirement of the three month's salary plus any other reserve deemed appropriate by the Chief of the Department. Bonus compensation is determined by the Chief of the Foundation. The amounts are discretionary based on various factors, including but not limited to the financial performance of the Foundation.

Part II:

Various individuals listed in Form 990, Part VII are compensated for services rendered to an unrelated organization, Children's Sports Medicine Foundation, Inc. Salary and benefit information reported in Form 990 Part VII and Schedule J, Part II represents compensation for services the individuals provided to both organizations. As an allocation of compensation specific to the Foundations cannot be readily performed, the respective individuals' total salary and benefits have been reported on the Foundation's Form 990 in accordance with Internal Revenue Service instructions.