2024-11-13T08:51:41-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-01-01 010648145 ORTHOCAROLINA RESEARCH INSTITUTE INC ORTH 7043232260 2001 VAIL AVENUE SUITE 300 CHARLOTTE NC 28207 CHRISTI CADD EXECUTIVE DIRECTOR 7043232260 2024-11-11 1 1 KATHERINE A WARLICK P02065266 7049985200 2024-11-11 2023 2024-10-15 13:58:12Z CHRISTI CADD 2001 VAIL AVENUE SUITE 300 CHARLOTTE NC 28207 1847078 0 X WWW.ORTHOCAROLINARESEARCH.ORG X 2002 NC TO PROMOTE, DEVELOP AND CONDUCT STATE OF THE ART SCIENTIFIC RESEARCH AND EDUCATIONAL PROGRAMS FOR THE ADVANCEMENT OF ORTHOPEDIC CARE. OCRI WORKS BOTH INDEPENDENTLY AS WELL AS IN COLLABORATIONS WITH UNIVERSITIES, HOSPITALS, PHARMACEUTICAL AND DEVICE COMPANIES AND OTHER ACADEMIC AND RESEARCH ORGANIZATIONS TO FURTHER PROMOTE THE MISSION. 13 13 0 17 0 0 945893 989188 633547 507419 0 350471 0 0 1579440 1847078 131381 0 0 0 0 0 0 52500 164498 1907882 2250260 2039263 2302760 -459823 -455682 3834315 3695403 355745 667059 3478570 3028344 X THE ORTHOCAROLINA RESEARCH INSTITUTE (OCRI) IS AN INDEPENDENT, NON-PROFIT 501(C)3 THAT EXISTS TO FACILITATE RELEVANT ORTHOPEDIC RESEARCH WHICH ADVANCES ORTHOPEDIC TREATMENTS, IMPROVES QUALITY OF LIFE FOR PATIENTS, AND EDUCATES THE MEDICAL COMMUNITY. 0 0 1420152 507419 THE INSTITUTE'S MISSION AND PRIORITIES ARE CENTRALLY FOCUSED ON (1) IMPROVED ORTHOPEDIC PATIENT CARE AND (2) HIGH QUALITY EVIDENCE-BASED RESEARCH TO DEVELOP NEW AND INNOVATIVE ORTHOPEDIC DEVICES AND TECHNOLOGIES WHOSE GOAL IS TO ANSWER CLINICAL QUESTIONS FOR IMPROVED OUTCOMES. THE INSTITUTE LEADS ONGOING FDA-REGULATED CLINICAL TRIALS AND INVESTIGATOR-INITIATED SCIENTIFIC ACADEMIC STUDIES. RESEARCH IS DISSEMINATED THROUGH PEER REVIEWED JOURNAL PUBLICATIONS WITH GREATER THAN 85 PUBLICATIONS ANNUALLY. 120408 OPERATION WALK CAROLINAS PROVIDES HIP AND KNEE JOINT REPLACEMENT SURGERIES AT NO COST TO PATIENTS IN UNDERSERVED COUNTRIES WHO HAVE NO ACCESS TO THIS LEVEL OF CARE. IN ADDITION, THE MEDICAL TEAM SPENDS TIME TEACHING THE ORTHOPEDIC SURGEONS, NURSES, PHYSICAL THERAPISTS AND OTHER HEALTHCARE PROFESSIONALS IN THAT COUNTRY ON THE MOST ADVANCED TECHNIQUES AND TREATMENTS FOR DISEASES OF THE HIP AND KNEE JOINTS IN ORDER TO BETTER SERVE THEIR PATIENTS. HEALTHCARE PROFESSIONALS FROM THE CHARLOTTE AREA NON-PROFIT HOSPITAL SYSTEMS COLLABORATE WITH THE ORTHOCAROLINA PHYSICIAN TEAM TO COMPLETE SURGERIES ON THOSE MOST SEVERE CASES. 98592 THE INSTITUTE'S MISSION IS FOCUSED ON ADVANCING BOTH RESEARCH AND EDUCATION IN ORTHOPEDICS. THE ORTHOCAROLINA RESEARCH INSTITUTE HOSTS AN EDUCATIONAL CME (CONTINUING MEDICAL EDUCATION) SYMPOSIUM, KNOWN AS OSCAR MILLER DAY, FOR 350-400 ORTHOPEDIC PROVIDERS AND ALLIED HEALTH CARE PROFESSIONALS EACH YEAR. THIS SYMPOSIUM IS OVER 40 YEARS OLD AND IS MARKETED TO THE SOUTHEASTERN U.S. TOPICS ARE ROTATED ANNUALLY. 20095 ARMS FOR ALL IS A PROGRAM UNDER OCRI THAT COVERS THE GAP EXPENSE BETWEEN WHAT INSURANCE WILL COVER AND WHAT IS THE BEST PROSTHETIC FOR IMPROVED QUALITY OF LIFE FOR PATIENTS WHO HAVE LOST A LIMB. 20095 1659247 1 1 0 0 0 0 0 1 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 14 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 SC X CHRISTI CADD 7043232260 2001 VAIL AVENUE SUITE 300 CHARLOTTE NC 28207 WILLIAM GRIFFIN MD BOARD DIRECTOR 0.10 X 0 0 0 PATRICK M CONNOR BOARD DIRECTOR 0.10 X 0 0 0 WALTER B BEAVER MD BOARD DIRECTOR 0.10 X 0 0 0 JOHN L FRALEY JR BOARD DIRECTOR 0.10 X 0 0 0 RICHARD E THIGPEN BOARD DIRECTOR 0.10 X 0 0 0 FRED R JONES BOARD DIRECTOR 0.50 X 0 0 0 MORRY JOHNSTON BOARD DIRECTOR 0.10 X 0 0 0 CLENN GASTON MD CHAIRMAN 2.00 X X 0 0 0 CHARLES EAST III BOARD DIRECTOR 0.50 X 0 0 0 BRANDON BOYD BOARD DIRECTOR 0.10 X 0 0 0 VELVA WOOLEN BOARD DIRECTOR 0.10 X 0 0 0 HARVEY GANTT BOARD DIRECTOR 0.10 X 0 0 0 BRUCE DARDEN MD BOARD DIRECTOR 0.50 X 0 0 0 KENT ELLINGTON MD BOARD DIRECTOR 0.10 X 0 0 0 JOE HSU MD BOARD DIRECTOR 0.10 X 0 0 0 TOM SMITH BOARD DIRECTOR 0.50 X 0 0 0 CHRISTI CADD EXECUTIVE DIRECTOR 45.00 X 139009 0 25477 139009 0 25477 1 0 1 0 0 989188 164839 989188 RESEARCH INCOME 541700 507419 507419 507419 350471 350471 1847078 507419 0 350471 26475 26475 52500 52500 254 254 64485 49863 14622 57248 57248 45978 45978 8393 1353 7040 22611 22611 PAYROLL REIMBURSEMENT 1588415 1258137 300613 29665 OPERATION WALK 120408 120408 STUDY EXPENSES 110202 110202 OSCAR MILLER DAY EXPENS 98592 98592 107199 20692 4174 82333 2302760 1659247 479015 164498 465189 332268 5089 300000 438318 382671 31196 33891 63378 63378 0 0 2508522 2894717 86001 51856 3834315 3695403 285744 618110 13093 70001 35856 355745 667059 X 2180207 1828508 1298363 1199836 3478570 3028344 3834315 3695403 -455682 5456 0 X 0 1 X 1 0 X 1804808 1258438 2015726 945893 989188 7014053 1383549 748260 889967 633547 507419 4162742 3188357 2006698 2905693 1579440 1496607 11176795 624256 509022 541573 233001 174171 2082023 352082 235526 97529 685137 624256 861104 777099 233001 271700 2767160 8409635 14 5 350471 350490 14 5 350471 350490 5000 5000 3188371 2006703 2910693 1579440 1847078 11532285 0.72920 0.72570 0.03040 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16000 16000 X X 16000 0 13878 13878 0 49500 49500 0 0 BENEFICIAL INTEREST IN POOLED FUNDS 2894717 F 2894717 CURRENT LEASE LIABILITY 35856 35856 X 1502063 5456 5456 1496607 350471 350471 1847078 2302760 0 2302760 0 2302760 PART III, LINE 4: A GRATEFUL PATIENT GIFTED A PIECE OF GLASS ART WITH A $16,000 APPRAISED VALUE IN HONOR OF DR. WALTER BEAVER TO THE ORTHOCAROLINA RESEARCH INSTITUTE. IT IS DISPLAYED IN THE PATIENT WAITING ROOM. IT HAS NO RELEVANCE TO THE ORGANIZATION'S MISSION. PART X, LINE 2: THE INSTITUTE ADOPTED FASB GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS BY PRESCRIBING A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN. THE INSTITUTE'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE INSTITUTE, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF DECEMBER 31, 2023 AND 2022 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN POOLED FUNDS 350,471. X 1 GREENWAY GROUP 7804 FAIRVIEW ROAD 117 CHARLOTTE NC 28226 STRATEGIC PLANNING 0 0 0 0 NC SC X X 0 0 0 0 0 0 0 1 0 CHRISTI CADD EXECUTIVE DIRECTOR 139009 0 0 0 0 0 0 0 25477 0 164486 0 0 0 PART I, LINE 3 THE ORTHOCAROLINA HR DEPARTMENT, A RELATED ORGANIZAT6ION, PERFORMS A SALARY SURVEY AND RE-EVALUATION PERIODICALLY OF POSITIONS. THEY SET THE COMPENSATION FOR ALL EMPLOYEES AND ALL POSITIONS. A MARKET ANALYSIS WAS PERFORMED IN 2023 AND A 15% INCREASE WAS ADDED TO THE EXECUTIVE DIRECTOR'S SALARY AS AN ADJUSTMENT BASED ON CURRENT MARKET. SALARY IS STILL LOWER THAN MARKET STANDARD BUT NO FUTURE ADJUSTMENTS ARE PLANNED AT THIS TIME. PART I, LINE 7 A MORE DEFINED BONUS STRUCTURE WAS INTRODUCED IN 2023 FOR THE EXECUTIVE DIRECTOR. IT WAS NOT SOLELY CONTINGENT ON NET REVENUE BUT WAS BASED ON RAISING MONEY FOR THE ORGANIZATION AND GETTING ORGANIZATIONAL INITIATIVES OFF THE GROUND. X 2 164839 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE FINANCE/AUDIT COMMITTEE HAS AUTHORITY TO HIRE THE AUDITORS. THE COMMITTEE REVIEWS ALL OTHER FINANCIAL FUNCTIONS MAKING RECOMMENDATIONS TO THE BOARD FOR APPROVAL. FORM 990, PART VI, SECTION A, LINE 3 THE EXECUTIVE COMMITTEE IS COMPRISED OF THE PRESIDENT, THE CHAIRMAN OF THE RESEARCH ADVISORY COMMITTEE AND THE EXECUTIVE DIRECTOR. ALL THREE POSITIONS ARE MEMBERS OF THE GOVERNING BOARD.; HOWEVER, THE EXECUTIVE DIRECTOR IS A NON-VOTING EX-OFFICIO MEMBER. FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE REVIEWED BY THE EXECUTIVE DIRECTOR, FOLLOWED BY A REVIEW AND RECOMMENDATION BY THE OCRI FINANCE AND AUDIT COMMITTEE. THE FINAL COPY WITH THE FINANCE AND AUDIT COMMITTEES RECOMMENDATION WILL BE CIRCULATED VIA EMAIL TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE EXECUTIVE DIRECTOR, BOARD MEMBERS AND KEY EMPLOYEES CERTIFY ANNUALLY THAT THEY HAVE READ THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND HAVE DISCLOSED ANY RELATIONSHIPS WITH ANY OF THE ORGANIZATION'S CONTRACTING PARTIES ON THE ORGANIZATIONS CONFLICT OF INTEREST FORM. THE EXECUTIVE DIRECTOR REVIEWS THE CERTIFIED FORMS AND COMPARES IT TO THE PRIOR YEAR'S DISCLOSURES. QUESTIONABLE RELATIONSHIPS ARE NOTED AND BROUGHT TO THE ATTENTION OF THE APPROPRIATE GOVERNANCE GROUP. THE EXECUTIVE DIRECTOR DISCLOSES TO THE FINANCE AND AUDIT COMMITTEE ANY ITEMS THAT AFFECT BUSINESS COMPLIANCE DURING THE NEXT SCHEDULED MEETING AND DISCLOSES CONFLICTS RELATED TO THE RESEARCH TO THE RESEARCH ADVISORY COMMITTEE. APPROPRIATE STEPS ARE TAKEN TO ELIMINATE THE CONFLICT PER COMMITTEE GUIDANCE. FORM 990, PART VI, SECTION B, LINE 15 HUMAN RESOURCES DETERMINES INITIAL COMPENSATION BASED ON MARKET ANALYSIS FOR EXECUTIVE DIRECTOR AND OTHER KEY POSITIONS. THE HUMAN RESOURCE DEPARTMENT ESTABLISHES MIN, MID AND MAX SALARY RANGE FOR ALL POSITIONS IN OCRI BASED ON MARKET ANALYSIS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICTS OF INTEREST POLICY AND FINANCIALS STATEMENTS ARE PROVIDED UPON REQUEST.