2024-11-04T12:22:35-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 2021 SPRING ROAD SUITE 200 OAK BROOK IL 60523 990 2023-01-01 363999836 THE ORTHOPAEDIC LEARNING CENTER ORTH 8473844210 9400 W HIGGINS ROAD 100 ROSEMONT IL 60018 RACHEL BOWERS CHIEF FINANCIAL OFFICER 8473844254 2024-10-29 1 0 JAMES R THOMAS P00095586 6305738600 2024-10-29 2023 2024-10-15 13:58:12Z OLC EDUCATION & CONFERENCE CENTER RACHEL BOWERS 9400 W HIGGINS ROAD SUITE 100 ROSEMONT IL 60018 4083336 0 X WWW.OLCEVENTS.COM X 1993 IL PROVIDING MEDICAL LAB EQUIPMENT, FACILITIES, AND EDUCATIONAL SEMINARS TO LEARNING PHYSICIANS AND STUDENTS 16 13 0 16 0 0 200500 10500 3690793 4072836 -12492 0 0 0 3878801 4083336 0 0 0 0 874902 903047 0 0 0 3213552 3376172 4088454 4279219 -209653 -195883 10574596 8792581 3099709 1458906 7474887 7333675 PROVIDING MEDICAL LAB EQUIPMENT, FACIITIES, AND EDUCATIONAL SEMINARS TO LEARNING PHYSICIANS AND STUDENTS 0 0 3542122 1881288 SURGICAL SKILLS COURSES - THE ORGANIZATION PROVIDES FACILITIES FOR COURSES RELATING TO ARTHROSCOPIC AND ORTHOPAEDIC SURGICAL SKILLS, DIAGNOSIS, TREATMENT AND FOLLOWUP 3542122 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 13 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 IL X RACHEL BOWERS CHIEF FINANCIAL OFFICER 8473844254 9400 W HIGGINS ROAD SUITE 100 ROSEMONT IL 60018 KEVIN J BOZIC MD PRESIDENT 7.50 7.50 X X 0 127083 0 PAUL TORNETTA III MD FIRST VICE-PRESIDENT 5.00 5.00 X X 0 69160 0 ANNUNZIATO AMENDOLA MD SECOND VICE-PRESIDENT 5.00 5.00 X X 0 33333 0 FELIX H SAVOIE MD PAST PRESIDENT 2.50 2.50 X X 0 20000 0 MICHAEL L PARKS MD TREASURER 1.50 1.50 X X 0 0 0 ALFONSO MEJIA MD BOC CHAIR 1.00 1.00 X 0 0 0 JOEL L MAYERSON BOC CHAIR-ELECT 1.00 1.00 X 0 0 0 MICHAEL J LEDDY III MD BOC SECRETARY 1.00 1.00 X 0 0 0 ARMANDO F VIDAL MD BOS CHAIR 1.00 1.00 X 0 0 0 ADOLPH J YATES MD BOS CHAIR-ELECT 1.00 1.00 X 0 0 0 MICHAEL P BOLOGNESI MD BOS SECRETARY 1.00 1.00 X 0 600 0 MONICA MARIA PAYARES MD MEMBER AT LARGE 1.00 1.00 X 0 0 0 CHAD A KRUGER MD MEMBER AT LARGE 1.00 1.00 X 0 0 0 EVALINA BURGER MD MEMBER AT LARGE 1.00 1.00 X 0 0 0 TONI M MCLAURIN MD MEMBER AT LARGE 1.00 1.00 X 0 0 0 LISA N MASTERS LAY MEMBER 1.00 1.00 X 0 0 0 LISE PUCKORIUS CHIEF EXECUTIVE OFFICER 40.00 0.50 X 0 266952 52584 ELLEN KAIMAKIS LAB MANAGER 40.00 0.50 X 0 118115 10428 KLABACHA KATHRYN OFFICE MANAGER 40.00 0.50 X 0 105533 20254 0 740776 83266 3 0 1 0 0 10500 10500 RENTAL INCOME 561000 2191548 2191548 OTHER REVENUE 561000 1881288 1881288 4072836 4083336 1881288 0 2191548 X 311879 237028 74851 436577 307642 128935 39026 29660 9366 66481 50533 15948 49084 37304 11780 18359 18359 469520 447773 21747 70549 70049 500 116293 86620 29673 72000 54720 17280 1190441 904735 285706 55665 26823 28842 41671 29833 11838 272916 207416 65500 8000 8000 SPECIMEN EXPENSES 1043571 1043571 17187 415 16772 4279219 3542122 737097 0 1477651 1032666 611066 92377 104601 1672 7402604 6611442 554212 791162 7827066 6874704 10574596 8792581 110686 135379 158939 117997 2830084 1205530 3099709 1458906 X 7474887 7333675 7474887 7333675 10574596 8792581 X -195883 54671 X X 0 1 X 1 0 X X 1 AMERICAN ACADEMY OF ORTHOPEDIC SURGEONS 362110592 10 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 PART IV, SECTION D, LINE 3: THE AMERICAN ACADEMY OF ORTHOPEDIC SURGEONS IS THE SUPPORTED ORGANIZATION. THEIR MISSION IS TO PROVIDE MEDICAL EDUCATION TO THEIR MEMBERS. THE ORTHOPAEDIC LEARNING CENTER PROVIDES ORGANIZATIONS WITH THE EDUCATIONAL FACILITY TO PRESENT THEIR EDUCATIONAL PROGRAMS. THE SUPPORTED ORGANIZATIONS ARE REPRESENTED ON THE OLC BOARD OF DIRECTORS WHICH IS OUTLINED IN THE OLC BYLAWS. PART IV, SECTION E, LINE 2A: THE ORTHOPEDIC LEARNING CENTER PROVIDES EDUCATIONAL AND TRAINING FACILITIES FOR USE BY ITS SUPPORTED ORGANIZATIONS WHICH FURTHERS THE EXEMPT PURPOSES OF THE SUPPORTED ORGANIZATION. PART IV, SECTION E, LINE 2B: IF NOT ENGAGED WITH THE ORTHOPEDIC LEARNING CENTER, THE SUPPORTED ORGANIATION WOULD FIND OTHER EDUCATIONAL AND TRAINING FACILITIES TO FURTHER THEIR EXEMPT PURPOSES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1662209 1455837 206372 5680707 5103764 576943 59688 51841 7847 791162 INVESTMENT IN ORTHO PROPERTIES 5858474 ROU ASSET 1016230 6874704 LEASE LIABILITY 1205530 1205530 X PART X, LINE 2: THE CENTER'S APPLICATION OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REGARDING UNCERTAIN TAX POSITIONS HAS NO EFFECT ON ITS FINANCIAL POSITION AS MANAGEMENT BELIEVES THE CENTER HAS NO MATERIAL UNRECOGNIZED INCOME TAX BENEFITS, INCLUDING ANY POTENTIAL RISK OF LOSS OF THEIR NONPROFIT TAX STATUS, THEREFORE, NO LIABILITY RELATING TO UNCERTAIN TAX POSITIONS HAS BEEN RECORDED AS OF DECEMBER 31, 2022. THE CENTER WOULD ACCOUNT FOR ANY POTENTIAL INTEREST OR PENALTIES RELATED TO POSSIBLE FUTURE LIABILITIES FOR UNRECOGNIZED INCOME TAX BENEFITS AS INCOME TAX EXPENSE. X X 0 0 X X 0 0 0 0 0 0 0 1 0 LISE PUCKORIUS CHIEF EXECUTIVE OFFICER 0 256703 0 7477 0 2772 0 25670 0 26914 0 319536 0 0 PART I, LINE 7 THE CEO SHALL BE ELIGIBLE, BUT NOT ENTITLED, TO RECEIVE AN ANNUAL PERFORMANCE-BASED BONUS OF UP TO TWELVE PERCENT (12%) OF SALARY BASED UPON THE PERFORMANCE OF THE CEO AGAINST THE PERFORMANCE OBJECTIVE TO BE MUTUALLY AGREED UPON BY THE BOARD AND THE CEO AT THE BEGINNING OF EACH YEAR. THE BOARD SHALL DETERMINE THE AMOUNT OF THE PERFORMANCE BONUS, IF ANY, BASED ON THE CEO'S PERFORMANCE AGAINST THE PERFORMANCE OBJECTIVES DESCRIBED ABOVE. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS THAT ARE IDENTICAL TO THE MEMBERSHIP OF THE SPONSORING ORGANIZATION (THE AMERICAN ACADEMY OF SURGEONS). FORM 990, PART VI, SECTION B, LINE 11B THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990. MANAGEMENT REVIEWS THE COMPLETED FORM 990 AND PROVIDES A FULL COPY TO ALL VOTING MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. A CONFERENCE CALL IS SCHEDULED FOR THE CPA FIRM AND ORGANIZATION MANAGEMENT TO DISCUSS THE FORM 990 WITH THE FINANCE COMMITTEE AND TO ANSWER ANY QUESTIONS PRIOR TO FILING FORM 990 WITH THE IRS. THE FINANCE COMMITTEE HAS BEEN DELEGATED THE AUTHORITY TO REVIEW AND APPROVE THE FORM 990 BY THE VOTING MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS, KEY VOLUNTEERS, AND KEY STAFF ARE NOTIFIED IN WRITING TWICE A YEAR TO UPDATE THEIR WRITTEN DISCLOSURES. THE DISCLOSURE DATABASE IS MAINTAINED ELECTRONICALLY AND ANYONE WHO HAS NOT UPDATED THEIR RECORD IS NOTIFIED UNTIL THEY HAVE DONE SO. ADDITIONALLY, BEFORE EVERY BOARD AND COMMITTEE MEETING PARTICIPANTS ARE ASKED IF THEY HAVE ANYTHING NEW TO DISCLOSE. THE CHAIR OF THE GOVERNANCE GROUP SHALL ALSO HAVE THE PREROGATIVE OF REQUESTING A PARTICIPANT TO PROVIDE FURTHER INFORMATION OR AN EXPLANATION IF THE CHAIR IDENTIFIES A POTENTIAL CONFLICT OF INTEREST REGARDING THAT PARTICIPANT. THE CHAIR SHALL BE GUIDED BY THE MOST CURRENT VERSION OF THE PROTOCOL FOR THE PRESIDENT TO USE IN HANDLING POTENTIAL CONFLICT OF INTEREST ISSUES BEFORE THE ACADEMY BOARD OF DIRECTORS. BASED ON THE INFORMATION PROVIDED IN THE ACADEMY ORTHOPAEDIC DISCLOSURE PROGRAM AND/OR UPON A FURTHER REVIEW, THE CHAIR OF THE ACADEMY GOVERNANCE GROUP MAY DETERMINE THAT THE PARTICIPANT SHALL: 1) DISCLOSE THE POTENTIAL CONFLICT AND CONTINUE TO PARTICIPATE FULLY IN THE ACADEMY GOVERNANCE GROUP'S DISCUSSIONS AND VOTE; ["DISCLOSURE OPTION"] 2) DISCLOSE THE POTENTIAL CONFLICT, ADDRESS ANY QUESTIONS OTHER MEMBERS OF THE GROUP HAVE ON THE SUBJECT, THEN LEAVE THE ROOM AND NOT PARTICIPATE IN FURTHER DISCUSSION AND VOTE ["RECUSAL FROM VOTE OPTION"] OR 3) DEPART FROM THE ROOM UNTIL THE MATTER HAS BEEN FULLY DISCUSSED AND ACTED UPON. ["RECUSAL FROM DISCUSSION AND VOTE OPTION"]. FORM 990, PART VI, SECTION B, LINE 15A A COMPENSATION COMMITTEE IS DESIGNATED BY THE VOTING MEMBERS OF THE GOVERNING BODY AND IS CHARGED WITH DEVELOPING AND NEGOTIATING THE TERMS OF EMPLOYMENT AND ESTABLISHING THE TOTAL COMPENSATION PACKAGE FOR THE CEO. AN EVALUATION PROCESS IS COMPLETED ANNUALLY AND A RECOMMENDATION IS MADE REGARDING COMPENSATION THAT IS SENT TO THE BOARD FOR APPROVAL. FOR OTHER OFFICERS, KEY EMPLOYEES, AND STAFF POSITIONS, A MARKET STUDY REVIEW IS PERFORMED EVERY THREE TO FOUR YEARS COMPARING JOB DESCRIPTIONS WITH OTHER ENTITIES TO DETERMINE REASONABLE SALARY RANGES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE WHICH IS OPEN TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE THROUGH THE APPLICABLE GOVERNMENTAL AGENCIES. FORM 990, PART IX, LINE 11G FEES FOR SERVICES: PROGRAM SERVICE EXPENSES 447,773. MANAGEMENT AND GENERAL EXPENSES 21,747. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 469,520. FORM 990, PART XI, LINE 9: GAIN (LOSS) ON ORTHO PROPERTIES LLC 54,671. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. AMERICAN ACADEMY OF ORTHOPAEDIC SURGEONS 9400 W HIGGINGS ROAD ROSEMONT IL 60018 362110592 EDUCATION IL 501(C)(3) 10 N/A 0 ORTHOPAEDIC LEARNING CENTER FOUNDATION 9400 W HIGGINGS ROAD ROSEMONT IL 60018 812223822 EDUCATION IL 501(C)(3) 7 OLC 0 ORTHO PROPERTIES LLC 9400 W HIGGINGS ROAD ROSEMONT IL 60018 320402949 COMMERCIAL IL AAOS 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0