2021-05-17T16:44:40-05:00 2020-06-30 366055558 GRANT THORNTON LLP 171 N CLARK ST SUITE 200 CHICAGO IL 60601 990 2019-07-01 362192800 AMERICAN COLLEGE OF SURGEONS AMER 3122025000 633 N SAINT CLAIR STREET CHICAGO IL 60611 GAY L VINCENT CFO 3122025000 2021-05-17 1 BRIDGET T ROCHE P00666837 3128560200 2019 2022-09-23 18:48:47Z J WAYNE MEREDITH 633 N SAINT CLAIR STREET CHICAGO IL 60611 364372857 0 X WWW.FACS.ORG X 1912 IL THE PRIMARY EXEMPT PURPOSE IS TO IMPROVE THE QUALITY OF CARE OF THE SURGICAL (CONTINUED IN SCH O) PATIENT THROUGH EDUCATION AND RESEARCH. 24 22 481 100 -724197 21866 20575965 24490356 85122799 87977910 11375219 17326149 4315517 4767564 121389500 134561979 1492093 1623765 0 0 60773604 66923897 0 0 789338 57537443 55907721 119803140 124455383 1586360 10106596 625589543 595958812 239998738 244385105 385590805 351573707 X THE AMERICAN COLLEGE OF SURGEONS IS DEDICATED TO IMPROVING THE CARE OF THE SURGICAL PATIENT AND TO SAFEGUARDING STANDARDS OF CARE IN AN OPTIMAL AND ETHICAL PRACTICE ENVIRONMENT. 0 0 48048536 128646 72036693 THE MISSION OF THE ACS DIVISION OF RESEARCH AND OPTIMAL PATIENT CARE (DROPC) IS TO IMPROVE THE QUALITY OF SURGICAL CARE BY ENABLING ALL SURGEONS TO APPLY THE BEST SCIENTIFIC EVIDENCE AVAILABLE IN ALL ASPECTS OF THEIR DAILY PRACTICE WITH RESPECT, COMPASSION, AND DIGNITY FOR ALL PATIENTS. THE DROPC PROMOTES THE PRACTICE OF EVIDENCE-BASED SURGERY BY DEVELOPING NEW KNOWLEDGE THROUGH BASIC AND CLINICAL RESEARCH, THE SETTING AND VERIFICATION OF STANDARDS, DEVELOPMENT OF BEST PRACTICES AND GUIDELINES, EDUCATIONAL ACTIVITIES, AND THE COLLECTION AND MEASUREMENT OF OUTCOMES. (CONTINUED IN SCH O) THE DROPC IS COMPRISED OF THREE FOCUS AREAS:1. CANCER - THE COMMISSION ON CANCER (COC) IS A CONSORTIUM OF PROFESSIONAL ORGANIZATIONS DEDICATED TO IMPROVING SURVIVAL AND QUALITY OF LIFE FOR CANCER PATIENTS THROUGH STANDARD-SETTING, PREVENTION, RESEARCH, EDUCATION, AND THE MONITORING OF COMPREHENSIVE QUALITY CARE. THE COC ACCREDITATION PROGRAM SETS STANDARDS FOR QUALITY, MULTIDISCIPLINARY CANCER CARE DELIVERED IN MORE THAN 1,500 HOSPITAL SETTINGS IN THE UNITED STATES AND PUERTO RICO. OTHER COC PROGRAMS INCLUDE THE CANCER PHYSICIAN LIAISON PROGRAM, THE NATIONAL ACCREDITATION PROGRAM FOR BREAST CENTERS, THE NATIONAL ACCREDITATION PROGRAM FOR RECTAL CANCER, AND THE NATIONAL CANCER DATABASE.2. TRAUMA - THE COMMITTEE ON TRAUMA (COT) AND THE TRAUMA PROGRAMS STAFF OVERSEE AND SUPPORT VARIOUS DIDACTIC AND EXPERIENTIAL TRAUMA COURSES, THE NATIONAL TRAUMA REGISTRY, THE NATIONAL TRAUMA DATA BANK, THE STOP THE BLEED AWARENESS CAMPAIGN, THE VERIFICATION/CONSULTATION PROGRAM FOR HOSPITALS, THE TRAUMA SYSTEM CONSULTATION PROGRAM, AND REGIONAL TRAUMA ORGANIZATION OF STATE/PROVINCIAL ACTIVITIES. THE COT IS ALSO ACTIVE IN PRE-HOSPITAL TRAUMA CARE, INJURY PREVENTION AND CONTROL, PERFORMANCE IMPROVEMENT AND PATIENT SAFETY, RURAL TRAUMA, DISASTER MANAGEMENT, AND OUTCOMES STUDIES.(CONTINUED FROM PART III)3. CONTINUOUS QUALITY IMPROVEMENT (CQI) - THE DROPC'S CONTINUOUS QUALITY IMPROVEMENT (QI) PROGRAMS PROVIDE THE INFRASTRUCTURE FOR SEVERAL QI PROGRAMS, AS WELL AS FOR CONDUCTING HEALTH SERVICES RESEARCH, CLINICAL RESEARCH, LABORATORY RESEARCH, META-ANALYSES, CLINICAL TRIALS, OUTCOME STUDIES, RESEARCH HYPOTHESIS GENERATION, AND THE DEVELOPMENT OF EVIDENCE-BASED PRACTICE GUIDELINES. THE MAJOR QI PROGRAMS WITHIN CQI INCLUDE THE ACS NATIONAL SURGICAL QUALITY IMPROVEMENT PROGRAM (ACS NSQIP) AND THE ACS BARIATRIC SURGERY CENTER NETWORK (ACS BSCN). 18607662 27000 11747273 EDUCATIONAL PROGRAMS - THE COLLEGE'S EDUCATIONAL PROGRAMS HELP MEET THE NEEDS OF SURGEONS, SURGERY RESIDENTS, MEDICAL STUDENTS AND PATIENTS. THE PROGRAMS PROVIDE SURGEONS WITH OPPORTUNITIES FOR MAINTENANCE OF CERTIFICATION, FOR LIFELONG LEARNING, AND FOR MEETING THE CORE COMPETENCIES. IN ADDITION TO PROVIDING CONTINUING MEDICAL EDUCATION ACTIVITIES, THE DIVISION OF EDUCATION HAS DEVELOPED PATIENT EDUCATIONAL MATERIALS RELATIVE TO SURGICAL CARE. DIVISION EFFORTS INCLUDE STAFFING NUMEROUS EDUCATION COMMITTEES AND THE FOLLOWING PROGRAMS: (CONTINUED IN SCHEDULE O)(CONTINUED FROM PART III)THE ACS CLINICAL CONGRESS IS AN ANNUAL EDUCATIONAL CONFERENCE FOR SURGEONS, INCLUDING FOUR DAYS OF LECTURES, PANEL SESSIONS, POSTGRADUATE COURSES, PRESENTATIONS OF SCIENTIFIC PAPERS AND RESEARCH, VIDEO-BASED EDUCATION SESSIONS, AND OTHER EDUCATIONAL ACTIVITIES. IN OCTOBER 2019, ATTENDANCE AT THE CLINICAL CONGRESS INCLUDED OVER 8,500 DOMESTIC AND INTERNATIONAL SURGEONS.THE PUBLICATION, SELECTED READINGS IN GENERAL SURGERY (SRGS), PROVIDES A BROAD, TOPIC-ORIENTED ANALYSIS OF THE CURRENT SURGICAL LITERATURE AND IS AVAILABLE IN PRINT, ONLINE AND CD-ROM FORMATS. SRGS REVIEWS THE ENTIRE SPECIALTY OF SURGERY EVERY TWO TO THREE YEARS FOR SURGERY RESIDENTS AND PRACTICING SURGEONS, AND HAS APPROXIMATELY 2,800 - 3,000 SUBSCRIBERS. THE WEB-BASED PROGRAM ENTITLED FUNDAMENTALS OF LAPAROSCOPIC SURGERY (FLS) IS A JOINT PROGRAM OF THE AMERICAN COLLEGE OF SURGEONS AND THE SOCIETY OF AMERICAN GASTROINTESTINAL AND ENDOSCOPIC SURGEONS (SAGES). FLS IS A COMPREHENSIVE EDUCATION MODULE DESIGNED TO TEACH AND ASSESS PROFICIENCY IN THE DOMAINS OF PHYSIOLOGY, FUNDAMENTAL KNOWLEDGE, AND TECHNICAL SKILLS REQUIRED FOR BASIC LAPAROSCOPIC SURGERY. 7663794 1393119 549856 THE COLLEGE HAS A MEMBER SERVICES DIVISION. THROUGH MEMBER SERVICES, THE COLLEGE CONTINUES TO REMAIN A MAJOR PROFESSIONAL ASSOCIATION, WITH OVER 80,000 MEMBERS. THE DIVERSE MEMBERSHIP REPRESENTS ALL SURGICAL SPECIALISTS, AND MEMBER SURGEONS ARE PROVIDED WITH PROGRAMS AND SERVICES THAT HELP THEM ADAPT TO A CHANGING HEALTH CARE ENVIRONMENT. THE DIVISION EVALUATES ALL APPLICATIONS FOR FELLOWSHIP BASED UPON DEFINED FELLOWSHIP REQUIREMENTS FOR PRACTICING SURGEONS, AS WELL AS ADMITS ASSOCIATE FELLOW, RESIDENT, MEDICAL STUDENT AND AFFILIATE MEMBERS.(CONTINUED IN SCH O)(CONTINUED FROM PART III)THE DIVISION ALSO STAFFS SEVERAL COMMITTEES INCLUDING THE INTERNATIONAL RELATIONS COMMITTEE, SCHOLARSHIPS COMMITTEE, AND 13 SURGICAL SPECIALTY ADVISORY COUNCILS. THE DIVISION SUPPORTS THE 289 BOARD OF GOVERNORS WHO ADVISE AND COUNCIL THE BOARD OF REGENTS, AND SUPPORTS THE ACTIVITIES OF OVER 100 DOMESTIC AND INTERNATIONAL CHAPTERS. 13739882 75000 933910 (CONTINUED FROM PART III)DIVISION OF ADVOCACY AND HEALTH POLICY (DAHP) - THE PURPOSE OF THE HEALTH POLICY AND ADVOCACY GROUP IS TO IDENTIFY PUBLIC POLICY ISSUES AND CONCERNS AFFECTING SURGEONS AND THEIR PATIENTS. DURING 2019 THE ACS DAHP PURSUED DIFFERENT ACTIONS SUCH AS: EXPRESSING CONCERN REGARDING PHYSICIAN PAYMENT CUTS; SUPPORTED BIPARTISAN LEGISLATION ADDRESSING SURPRISE/, TESTIFIED ON MACRA IMPLEMENTATION, AND COHOSTED A CAPITOL HILL BRIEFING ON UNANTICIPATED BILLING. IN ADDITION, THE STOP THE BLEED TRAINING PROVIDED BY ACS TO NUMEROUS MEMBERS OF CONGRESS AND THEIR STAFFS LED TO BIPARTISAN LEGISLATIONS BEING INTRODUCED IN THE US HOUSE OF REPRESENTATIVES THAT WOULD INCREASE THE NUMBER OF BLEEDING CONTROL KITS AND TRAINING COURSES AVAILABLE IN THE US. 13739882 75000 933910 88059874 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 1 0 0 0 1 1 1 1 0 0 1 707 0 1 481 1 1 1 1 CA UK 0 0 0 0 0 0 0 0 1 0 X 24 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X GAY L VINCENT 3122025000 633 N SAINT CLAIR STREET CHICAGO IL 60611 DAVID B HOYT EXECUTIVE DIRECTOR 38.00 2.00 X 1165762 0 415160 AJIT K SACHDEVA DIRECTOR OF EDUCATION 40.00 0.00 X 728517 0 435293 CLIFFORD KO DIRECTOR OF RESEARCH 40.00 0.00 X 766019 0 230385 PATRICIA L TURNER DIRECTOR OF MEMBER SERVICES 40.00 0.00 X 714782 0 239536 GAY L VINCENT CFO 38.00 2.00 X 533036 0 413901 FRANK G OPELKA MEDICAL DIRECTOR 40.00 0.00 X 618575 0 250487 PATRICK V BAILEY MEDICAL DIRECTOR 40.00 0.00 X 633257 0 229498 WILFRED CHAPLEAU PROGRAM DIRECTOR 40.00 0.00 X 255371 0 419416 LEWIS FLINT EDITOR OF SELECTED READING 40.00 0.00 X 502060 0 153169 MICHELLE MCGOVERN DIRECTOR OF HUMAN RESOURCES 40.00 0.00 X 433071 0 190442 CHRISTIAN SHALIGAN DIRECTOR OF ADVOCACY AND HP 40.00 0.00 X 393589 0 222170 LYNN KAHN DIRECTOR OF COM (THRU 06/19) 40.00 0.00 X 325824 0 206909 TIMOTHY J EBERLEIN DIRECTOR 39.00 1.00 X 150000 0 0 LENWORTH M JACOBS DIRECTOR 39.00 1.00 X 111889 0 0 TYLER G HUGHES SECRETARY (BEG 10/19) 39.00 1.00 X 100250 0 0 JOHN A WEIGELT FIRST VICE PRESIDENT (BEG 10/19) 1.00 1.00 X 17500 0 0 STEVEN C STAIN DIRECTOR (BEG 10/19) 1.00 1.00 X 120 0 0 MICHAEL J ZINNER DIRECTOR (THRU 10/19) 1.00 1.00 X 0 0 0 LENA M NAPOLITANO DIRECTOR 1.00 1.00 X 0 0 0 KENNETH W SHARP DIRECTOR 1.00 1.00 X 0 0 0 JOHN LD ATKINSON DIRECTOR 1.00 1.00 X 0 0 0 LINDA G PHILLIPS DIRECTOR 1.00 1.00 X 0 0 0 JAMES W GIGANTELLI DIRECTOR 1.00 1.00 X 0 0 0 JAMES K ELSEY DIRECTOR (BEG 10/19) 1.00 1.00 X 0 0 0 JAMES C DENNENY III DIRECTOR 1.00 1.00 X 0 0 0 HENRI R FORD DIRECTOR 1.00 1.00 X 0 0 0 STEVEN D WEXNER DIRECTOR 1.00 1.00 X 0 0 0 GARY L TIMMERMAN DIRECTOR 1.00 1.00 X 0 0 0 FABRIZIO MICHELASSI DIRECTOR 1.00 1.00 X 0 0 0 ENRIQUE HERNANDEZ DIRECTOR 1.00 1.00 X 0 0 0 DOUGLAS E WOOD DIRECTOR 1.00 1.00 X 0 0 0 DIANA L FARMER DIRECTOR (BEG 10/19) 1.00 1.00 X 0 0 0 BJ HANCOCK DIRECTOR 1.00 1.00 X 0 0 0 ANTON N SIDAWY DIRECTOR 1.00 1.00 X 0 0 0 ANTHONY ATALA DIRECTOR 1.00 1.00 X 0 0 0 MARGARET M DUNN DIRECTOR (THRU 10/19) 1.00 1.00 X 0 0 0 L SCOTT LEVIN VICE CHAIR (BEG 10/19) 1.00 1.00 X X 0 0 0 GERALD M FRIED DIRECTOR (BEG 10/19) 1.00 1.00 X X 0 0 0 RONALD V MAIER ACS PRESIDENT (THRU 10/19) 1.00 2.00 X X 0 0 0 VALERIE W RUSCH ACS PRESIDENT (BEG 10/19) 1.00 2.00 X X 0 0 0 BETH H SUTTON CHAIR (BEG 10/19) 1.00 1.00 X X 0 0 0 MARK C WEISSLER FIRST VICE PRESIDENT (THRU 10/19) 1.00 1.00 X 0 0 0 PHILIP R CAROPRESO SECOND VICE PRESIDENT (THRU 10/19) 1.00 1.00 X 0 0 0 EDWARD E CORNWELL III SECRETARY (THRU 10/19) 1.00 1.00 X 0 0 0 DON K NAKAYAMA TREASURER (BEG 10/19) 1.00 2.00 X 0 0 0 FORREST DEAN GRIFFEN SECOND VICE PRESIDENT (BEG 10/19) 1.00 1.00 X 0 0 0 WILLIAM G CIOFFI JR TREASURER (THRU 10/19) 1.00 2.00 X 0 0 0 7449622 0 3406366 133 0 1 0 CLUNE CONSTRUCTION INC 10 SOUTH RIVERSIDE PLAZA STE 2200 CHICAGO IL 60606 CONSTRUCTION 14509111 IQVIA RDS INC 4820 EMPEROR BLVD DURHAM NC 27703 CONSULTING 10072036 PSAV PRESENTATION SERVICES 5100 N RIVER ROAD SUITE 300 SCHILLER PARK IL 60176 TECHNOLOGY 1361874 SKIDMORE OWINGS & MERRILL LLP 224 S MICHIGAN AVENUE STE 1000 CHICAGO IL 60604 ARCHITECTURE & INTERIOR DESIGN 1291747 CMGRP INC PO BOX 74008263 CHICAGO IL 60674 PUBLIC RELATIONS 885626 38 1609721 19909467 2971168 391048 24490356 RESEARCH & OPTIMAL PAT 611600 72036693 72036693 EDUCATION 611600 11765029 11747273 17756 ASSOCIATION MANAGEMENT 561000 2692422 2692422 INTEGRATED COMMUNICATI 900099 933910 933910 MEMBER SERVICES 611600 549856 549856 87977910 4326585 -341520 4668105 1013979 1013979 16721981 14061329 2660652 2660652 -715944 3376596 228749113 213179589 2569960 15569524 -2569960 12999564 3710 12995854 COMMISSIONS 900099 367839 367839 20F CONFERENCE FACILIT 532000 295114 295114 MURPHY AUDITIORIUM 532000 191131 191131 238849 16687 222162 1092933 134561979 85267732 -724197 25528088 217000 217000 1140185 1140185 266580 266580 6357180 4318536 1978656 59988 40776978 27775366 12625739 375873 8938567 6088521 2767651 82395 7882099 5368954 2440490 72655 2969073 2022389 919315 27369 349326 220266 129060 242658 242658 1917347 1917347 7129614 6684064 422922 22628 1917191 1843208 53020 20963 7645171 6699332 900630 45209 16249780 13810734 2421157 17889 30154 29220 934 2302793 498177 1804616 3981243 3363700 584364 33179 7448907 6932868 484849 31190 875588 875588 4173351 4173351 465932 47900 418032 MEDICAL SUPPLIES 528976 528954 22 INCOME TAX 300000 300000 DUES AND FEES 183817 38047 145770 BAD DEBT 165873 165873 124455383 88059874 35606171 789338 5032064 3650218 0 0 2073211 1729503 27405275 36518120 0 0 0 0 0 0 0 0 21103473 15370252 203307756 55977217 127834292 147330539 153103674 131663465 285195293 255348886 0 0 0 0 3842261 4347829 625589543 595958812 60720341 75598518 0 0 42698033 38252767 18107000 15907000 0 0 0 0 98875000 97375000 0 0 19598364 17251820 239998738 244385105 X 349703422 316944139 35887383 34629568 385590805 351573707 625589543 595958812 X 10106596 -33184887 -10938807 X 0 1 X 1 1 1 X 19277554 20288553 20567595 20575965 24490356 105200023 57294504 61608322 75259348 85074563 87960154 367196891 76572058 81896875 95826943 105650528 112450510 472396914 16671776 16785176 17011765 17105141 19909467 87483325 922694 464106 530107 297423 2214330 17594470 17249282 17541872 17402564 19909467 89697655 382699259 15019276 14529150 14182602 14614141 14901568 73246737 15019276 14529150 14182602 14614141 14901568 73246737 1050062 1007011 930373 778702 781132 4547280 92641396 97433036 110939918 121043371 128133210 550190931 0.69560 0.67780 0.13310 0.14120 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MURPHY AUDITORIUM - 2015 AMOUNT: $ 479,287. 2016 AMOUNT: $ 391,996. 2017 AMOUNT: $ 313,640. 2018 AMOUNT: $ 262,647. 2019 AMOUNT: $ 191,131. COMMISSIONS - 2015 AMOUNT: $ 349,631. 2016 AMOUNT: $ 456,364. 2017 AMOUNT: $ 470,922. 2018 AMOUNT: $ 431,185. 2019 AMOUNT: $ 367,839. MISCELLANEOUS - 2015 AMOUNT: $ 221,144. 2016 AMOUNT: $ 158,651. 2017 AMOUNT: $ 145,811. 2018 AMOUNT: $ 84,870. 2019 AMOUNT: $ 222,162. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 1 1 0 1 20000 0 0 1 4895 0 0 24895 0 PART II-B, LINE 1: DESCRIPTION OF LOBBYING FOR NON ELECTING PUBLIC CHARITIES SCHEDULE C, PART II-B: VOLUNTEERS & PAID STAFF OR MANAGEMENT LINES 1A & 1B: THE AMERICAN COLLEGE OF SURGEONS HAS VOLUNTEERS AND STAFF IN WASHINGTON D.C. WHICH, AS A PART OF THEIR DUTIES FOR THE COLLEGE, ESTABLISHES CONTACTS AND MAINTAINS LIAISON WITH MEMBERS OF CONGRESS AND THEIR STAFF, GOVERNMENT AGENCIES, AND OTHER HEALTH REGULATED ORGANIZATIONS IN ORDER TO EXCHANGE INFORMATION PERTINENT TO SURGERY. TO DO THIS THEY: (1) COMMUNICATE COLLEGE VIEWS ON LEGISLATION AND REGULATIONS TO STAFF AND MEMBERS OF CONGRESS THROUGH PERSONAL VISITS, TELEPHONE CONVERSATIONS, AND LETTERS. (2) ORGANIZE AND PARTICIPATE IN COALITIONS OF ORGANIZATIONS WITH RELATED LEGISLATIVE INTEREST. (3) ARRANGE AND FACILITATE MEETINGS FOR COLLEGE OFFICIALS AND MEMBERS WITH ELECTED LEGISLATORS AND STAFF. (4) ARRANGE FOR COLLEGE OFFICIALS TO PRESENT TESTIMONY AT CONGRESSIONAL HEARINGS AND DRAFT AND PRODUCE TESTIMONY AND OFFICIAL WRITTEN RESPONSES TO LEGISLATIVE PROPOSALS. MAILING TO MEMBERS, LEGISLATORS, OR THE PUBLIC LINE 1D: THE COLLEGE COMMUNICATES VIEWS ON LEGISLATION AND REGULATIONS TO STAFF AND MEMBERS OF CONGRESS THROUGH LETTERS AND DIRECT CONTACT WITH LEGISLATORS, THEIR STAFF, GOVERNMENT OFFICIALS, OR A LEGISLATIVE BODY. LINE 1G: AS DISCUSSED IN LINE 1B ABOVE, THE WASHINGTON STAFF MAINTAINS LIAISONS WITH MEMBERS OF CONGRESS, THEIR STAFF, AND GOVERNMENT AGENCIES TO EXCHANGE INFORMATION PERTINENT TO SURGERY. THE MAJOR ISSUES UNDER DISCUSSION ARE RELATED TO MEDICARE FEE SCHEDULE AND FUNDING FOR TRAUMA SYSTEM DEVELOPMENT, HEATH CARE QUALITY, AND MEDICAL LIABILITY REFORM. 216096631 12700 -6913289 1992665 8073925 199129452 220774682 32915 5316613 2513772 7513807 216096631 214852720 81239 16108067 2669590 7597754 220774682 199926914 11301 23933839 1341568 7677766 214852720 219900240 195049 -10838836 1670832 7658707 0 199926914 0.91700 0.04990 0.03310 0 0 40905745 40905745 139872610 46960404 92912206 0 22510632 9014691 13495941 18769 2122 16647 147330539 U.S. LARGE CAP EQUITY 25992663 F INTERNATIONAL EQUITY 45857252 F ENERGY EQUITY 8031171 F GLOBAL EQUITY 56188870 F EMERGING EQUITY 3747275 F ALT. INV. - PRIVATE 39978770 F ALT. INV- ABSOLUTE RETURN 31080495 F ALT. INV. - LONG SHORT 37537406 F ALT. INV. - COMMODITIES 6934984 F 255348886 FUNDS HELD FOR OTHERS 10941965 DUE TO AFFILIATES 6109988 OBLIGATIONS UNDER CAPITAL LEASES 199867 17251820 X PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS THE ENDOWMENT FUNDS ARE INTENDED TO PROVIDE AND ENSURE THAT EDUCATION, RESEARCH, SCHOLARSHIPS, BUILDING FACILITIES AND THE COLLEGE AS A WHOLE HAVE ENOUGH FUNDING TO LAST DURING HARD ECONOMIC TIMES, WHILE PROVIDING THE OPERATIONS OF THE COLLEGE AN ANNUAL 5% SPENDING RATE. PART V, LINE 1(E): ENDOWMENT FUNDS AND AUDITED FINANCIAL STATEMENTS THE AMOUNT REPORTED ON PART V, LINE 1(E) REPRESENTS THE 5% ANNUAL SPENDING AMOUNT THAT WAS TRANSFERRED INTO OPERATING AND SPENT TO SUPPORT THE ACS MISSION, AND THEREFORE WAS MOVED INTO LINE E OTHER EXPENDITURES. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE AMERICAN COLLEGE OF SURGEONS IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). EXCEPT FOR TAXES RELATING TO UNRELATED BUSINESS INCOME, ACS IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE COLLEGE DOES NOT BELIEVE THAT THERE ARE ANY UNRECOGNIZED TAX BENEFITS OR TAX LIABILITIES THAT SHOULD BE RECORDED AS OF JUNE 30, 2020 AND 2019. FORMS 990 AND 990T FILED BY THE COLLEGE ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS) UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. THE IRS HAS AUDITED THE TAX RETURNS OF THE COLLEGE FOR THE FISCAL YEARS 2010, 2011 AND 2012 AND ISSUED A NOTICE OF DEFICIENCY IN APRIL 2017. THE COLLEGE FILED A PETITION WITH THE U.S. TAX COURT IN JULY 2017 TO DISPUTE THE IRS'S FINDINGS. A RESOLUTION WAS REACHED WITH THE FINAL CLOSING DOCUMENT SIGNED IN MARCH 2019. THE RESOLUTION REDUCED THE AMOUNT OF NET OPERATING LOSSES THAT WERE PREVIOUSLY REPORTED BY THE COLLEGE. THE COLLEGE SUBMITTED AMENDED FEDERAL TAX FILINGS FOR 2014 THROUGH 2017 AND STATE FILINGS FOR 2011 THROUGH 2017 IN MAY 2019. THIS RESULTED IN ADDITIONAL TAX OF APPROXIMATELY $770,000 WHICH HAD BEEN PAID THROUGH ESTIMATES PRIOR TO SUBMISSION OF THE AMENDED FILINGS. THE IRS HAS NOT YET ACCEPTED THE AMENDED FILINGS AND IS IN THE PROCESS OF REVIEWING THEM. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT 15011288 NORTH AMERICA 0 0 INVESTMENT 3546280 NORTH AMERICA 0 0 GRANTMAKING 70580 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 40000 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 43000 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 39000 SOUTH ASIA 0 0 GRANTMAKING 34000 SOUTH AMERICA 0 0 GRANTMAKING 30000 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 10000 0 0 0 0 0 0 18814148 10000 18824148 EAST ASIA AND THE PACIFIC SURGICAL EDUCATION 9000 WIRE 1 2019 CRP CLINICAL TRIAL COURSE SCHOLARSHIP NORTH AMERICA 2 580 CHECK CARLOS PELLEGRINI TRAVELING FELLOWSHIP EAST ASIA AND THE PACIFIC 1 10000 WIRE COMMUNITY SURGEONS TRAVEL AWARDEE SUB-SAHARAN AFRICA 1 4000 CASH COMMUNITY SURGEONS TRAVEL AWARDEE SOUTH ASIA 1 4000 WIRE COMMUNITY SURGEONS TRAVEL AWARDEE EAST ASIA AND THE PACIFIC 1 4000 WIRE FACULTY RESEARCH FELLOWSHIP NORTH AMERICA 1 40000 CHECK GRAMBORT THAI TRAVEL AWARD INTERNATIONAL SCHOLARSHIP EAST ASIA AND THE PACIFIC 2 10000 WIRE INTERNATIONAL SCHOLARSHIP NSQIP SOUTH ASIA 1 10000 WIRE INTERNATIONAL SCHOLARSHIP NSQIP EUROPE (INCLUDING ICELAND & GREENLAND) 1 10000 WIRE INTERNATIONAL SCHOLARSHIP NSQIP SUB-SAHARAN AFRICA 2 15000 WIRE INTERNATIONAL SCHOLARSHIP FOR SURGICAL EDUCATION SOUTH AMERICA 1 10000 WIRE INTERNATIONAL SCHOLARSHIP FOR SURGICAL EDUCATION SUB-SAHARAN AFRICA 1 10000 WIRE INTERNATIONAL SCHOLARSHIP FOR SURGICAL EDUCATION SOUTH ASIA 1 10000 WIRE INTERNATIONAL GUEST SCHOLAR EUROPE (INCLUDING ICELAND & GREENLAND) 3 30000 WIRE INTERNATIONAL GUEST SCHOLAR SOUTH AMERICA 2 20000 WIRE INTERNATIONAL GUEST SCHOLAR SOUTH ASIA 1 10000 WIRE INTERNATIONAL GUEST SCHOLAR MIDDLE EAST AND NORTH AFRICA 1 10000 WIRE INTERNATIONAL GUEST SCHOLAR SUB-SAHARAN AFRICA 1 10000 WIRE INTERNATIONAL GUEST SCHOLAR EAST ASIA AND THE PACIFIC 1 10000 WIRE RESIDENT RESEARCH AWARD NORTH AMERICA 1 30000 CHECK 1 0 1 1 1 0 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANT FUNDS OUTSIDE U.S. THE AMERICAN COLLEGE OF SURGEONS OFFERS VARIOUS AWARDS AND SCHOLARSHIPS EACH YEAR. EACH AWARD HAS A REQUIREMENTS BROCHURE AND SAMPLES CAN BE FOUND ON HTTP://WWW.FACS.ORG/MEMBERSERVICES/RESEARCH.HTML. THE COLLEGE HAS A SELECTION COMMITTEE WHO IS RESPONSIBLE FOR DECIDING WHO RECEIVES THESE AWARDS. AWARDEES PROVIDE A BUDGET FOR LARGER AWARDS, AND ARE REQUIRED TO SUBMIT ANNUAL AND FINAL NARRATIVE AND FINANCIAL REPORTS. SMALLER AWARDS REQUIRE A NARRATIVE AND SIMPLE FINANCIAL REPORT UPON COMPLETION OF THE PROJECT. THE MEMBER SERVICES DIVISION EMPLOYS AN INTERNATIONAL LIAISON AND SCHOLARSHIPS ADMINISTRATOR TO MONITOR AND OVERSEE THIS PROGRAM. PART I, LINE 3: THE INVESTMENTS AND EXPENDITURE AMOUNTS ARE REPORTED ON AN ACCRUAL METHOD OF ACCOUNTING. PART III ACCOUNTING METHOD: PART IV FOREIGN FORMS AMERICAN COLLEGE OF SURGEONS INVESTS IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS AND OTHER CORPORATIONS THAT MAY OWN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, ACS'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING FORMS 926, 5471, 8621, OR 8865. TO THE EXTENT SUCH A FORM WAS COMPLETED, IT HAS BEEN FILED WITH THE ORGANIZATION'S FORM 990-T. 1 NATIONAL ACADEMY OF SCIENCES 2101 CONSTITUTION AVE NW WASHINGTON DC 20418 530196932 501(C)(3) 35000 GENERAL SUPPORT CONQUER CANCER FOUNDATION OF THE ASCO 2318 MILL RD STE 800 ALEXANDRIA VA 22314 311667995 501(C)(3) 5500 GENERAL SUPPORT SVS FOUNDATION 35312 EAGLE WAY CHICAGO IL 60678 222990719 501(C)(6) 112500 GENERAL SUPPORT AMERICAN FOUNDATION FOR SURGERY OF THE HAND 822 W WASHINGTON BLVD CHICAGO IL 60607 742428242 501(C)(3) 40000 GENERAL SUPPORT MEDICAL BRIDGES INC PO BOX 300245 HOUSTON TX 77230 760548161 501(C)(3) 12000 HURRICANE DORIAN RELIEF 4 1 CLINICAL SCHOLAR-IN-RESIDENCE 1 105316 THE JACOBSON PROMISING INVESTIGATOR AWARD 1 30000 GERALD B. HEALY, MD, FACS, TRAVELING MENTORSHIP FELLOWSHIP 1 5000 FACULTY RESEARCH SCHOLARSHIP 7 280000 RESIDENT RESEARCH SCHOLARSHIP 10 300000 CLOWES AWARD 5 224619 ACS/TRIOLOGICAL SOCIETY AWARD 4 160000 NIZAR N. OWEIDA, MD, FACS, SCHOLARSHIP 3 15000 2019 CRP CLINICAL TRIALS COURSE SCHOLARSHIP 25 7250 ORGAN TRAVELING FELLOWSHIP 1 5000 ACS-MACLEAN CENTER SURGICAL ETHICS FELLOWSHIP 1 10000 PART I, LINE 2: PROCEDURE FOR MONITORING USE OF GRANT FUNDS INSIDE U.S. THE AMERICAN COLLEGE OF SURGEONS OFFERS VARIOUS AWARDS AND SCHOLARSHIPS EACH YEAR. EACH AWARD HAS A REQUIREMENTS BROCHURE AND SAMPLES CAN BE FOUND ON HTTP://WWW.FACS.ORG MEMBERSERVICES/RESEARCH.HTML. THE COLLEGE HAS A SELECTION COMMITTEE WHO IS RESPONSIBLE FOR DECIDING WHO RECEIVES THESE AWARDS. AWARDEES PROVIDE A BUDGET FOR LARGER AWARDS, AND ARE REQUIRED TO SUBMIT ANNUAL AND FINAL NARRATIVE AND FINANCIAL REPORTS. SMALLER AWARDS REQUIRE A NARRATIVE AND SIMPLE FINANCIAL REPORT UPON COMPLETION OF THE PROJECT. THE MEMBER SERVICES DIVISION EMPLOYS AN INTERNATIONAL LIAISON AND SCHOLARSHIPS ADMINISTRATOR TO MONITOR AND OVERSEE THIS PROGRAM. X X X X 1 0 0 0 0 0 0 1 0 DAVID B HOYT EXECUTIVE DIRECTOR 1162745 0 545 0 2472 0 396010 0 19150 0 1580922 0 0 0 AJIT K SACHDEVA DIRECTOR OF EDUCATION 726233 0 760 0 1524 0 416143 0 19150 0 1163810 0 0 0 CLIFFORD KO DIRECTOR OF RESEARCH 765000 0 743 0 276 0 230385 0 0 0 996404 0 0 0 PATRICIA L TURNER DIRECTOR OF MEMBER SERVICES 633465 0 545 0 80772 0 238295 0 1241 0 954318 0 0 0 GAY L VINCENT CFO 530678 0 834 0 1524 0 386070 0 27831 0 946937 0 0 0 FRANK G OPELKA MEDICAL DIRECTOR 617164 0 619 0 792 0 231337 0 19150 0 869062 0 0 0 PATRICK V BAILEY MEDICAL DIRECTOR 614777 0 563 0 17917 0 201667 0 27831 0 862755 0 0 0 WILFRED CHAPLEAU PROGRAM DIRECTOR 253792 0 787 0 792 0 401960 0 17456 0 674787 0 0 0 LEWIS FLINT EDITOR OF SELECTED READING 498786 0 802 0 2472 0 134019 0 19150 0 655229 0 0 0 MICHELLE MCGOVERN DIRECTOR OF HUMAN RESOURCES 432261 0 534 0 276 0 162611 0 27831 0 623513 0 0 0 CHRISTIAN SHALIGAN DIRECTOR OF ADVOCACY AND HP 392593 0 816 0 180 0 194339 0 27831 0 615759 0 0 0 LYNN KAHN DIRECTOR OF COM (THRU 06/19) 164619 0 0 0 161205 0 202334 0 4575 0 532733 0 0 0 PART I, LINE 4A LYNN KAHN RECEIVED A SEVERANCE PAYMENT OF $161,205. PART I, LINE 7 NON-FIXED PAYMENTS THE BOARD APPROVED BONUS PAYMENTS TO THE FOLLOWING INDIVIDUALS: CLIFFORD KO, MICHELLE MCGOVERN, AND WILFRED CHAPLEAU THAT WERE NON-FIXED PAYMENTS. THESE PAYMENTS WERE NOT PART OF THE INDIVIDUALS' INITIAL COMPENSATION CONTRACTS WITH AMERICAN COLLEGE OF SURGEONS. THE BONUS PAYMENTS REPRESENT ACHIEVEMENT OF PERFORMANCE OBJECTIVES THAT WERE NOT CONTINGENT ON ACS'S FINANCIAL PERFORMANCE. ADDITIONAL AMOUNTS REPORTED WERE HOLIDAY BONUSES GIVEN TO ALL EMPLOYEES BASED ON LENGTH OF EMPLOYMENT. THE PAYMENTS ARE INCLUDED ON THE INDIVIDUALS' IRS FORM W-2. TIMOTHY J EBERLEIN BOARD MEMBER 150000 INDEPENDENT CONTRACTOR 0 LENWORTH M JACOBS BOARD MEMBER 114347 INDEPENDENT CONTRACTOR 0 TYLER G HUGHES OFFICER 100500 INDEPENDENT CONTRACTOR 0 PART IV, LINE 1: BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONSTIMOTHY J. EBERLEIN AND LENWORTH M. JACOBS, BOARD MEMBERS OF AMERICAN COLLEGE OF SURGEONS, AND TYLER G. HUGHES, OFFICER OF AMERICAN COLLEGE OF SURGEONS, PROVIDED INDEPENDENT CONTRACTOR SERVICES TO THE ORGANIZATION. THE INDEPENDENT CONTRACTOR SERVICES WITH THE BOARD MEMBERS AND OFFICER WERE CONDUCTED AT ARM'S LENGTH AND FAIR MARKET VALUE. X 1 500 FMV X 20000 390548 SELLING PRICE 1 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN PART I, LINE 20, COLUMN (B) IS THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION A, LINE 1 MATERIAL DIFFERENCES IN VOTING RIGHTS ACCORDING TO ARTICLE V, SECTION 2, SUBPARAGRAPH (A) OF THE BYLAWS, IT STATES, "DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD OF REGENTS, THE EXECUTIVE COMMITTEE SHALL EXERCISE THE POWERS OF THE BOARD OF REGENTS IN THE MANAGEMENT AND DIRECTION OF THE BUSINESS AND THE CONDUCT OF THE AFFAIRS OF THE COLLEGE, EXCEPT THAT IT SHALL NOT HAVE POWER TO ELECT FELLOWS; AMEND THE BYLAWS; OR REGULATE FEES, DUES, OR ASSESSMENTS. IT SHALL KEEP A RECORD OF ITS PROCEEDINGS AND SHALL, AFTER EACH MEETING, REPORT THE SAME TO THE REGENTS FOR APPROVAL AT THE NEXT SUCCEEDING MEETING OF THE BOARD OF REGENTS." FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE 990 FORMS ARE COMPLETED BY THE ACS ACCOUNTING DEPARTMENT AND REVIEWED BY OUTSIDE TAX PROFESSIONALS. ONCE OUTSIDE TAX PROFESSIONALS REVIEW AND RECOMMEND CHANGES, THE ACCOUNTING DEPARTMENT FINALIZES THE 990 FORMS. THE ACS CFO REVIEWS AND SIGNS THE FORMS AND THE ACS ACCOUNTING DEPARTMENT PROVIDES A COPY OF THE RETURN TO THE BOARD OF DIRECTORS. THE ACS ACCOUNTING DEPARTMENT THEN FILES THE RETURN WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT THE COLLEGE HAS CONFLICTS OF INTEREST POLICIES FOR EMPLOYEES, CONSULTANTS AND BOARD MEMBERS. ALL EMPLOYEES, CONSULTANTS AND BOARD MEMBERS ARE REQUIRED TO SIGN A DISCLOSURE STATEMENT EACH YEAR, WHICH ARE COLLECTED AND DISSEMINATED BY THE CHIEF FINANCIAL OFFICER'S OFFICE. THERE IS ALSO AN ACS CONFLICTS OF INTEREST COMMITTEE THAT MEETS PERIODICALLY AS THE NEED ARISES TO DISCUSS ISSUES THAT RELATE TO CONFLICTS OF INTEREST. THE COMMITTEE ACCOUNTS FOR THE RECEIPT OF DISCLOSURE STATEMENTS AND FOLLOWS UP ON ANY ISSUES. THIS INFORMATION IS THEN REPORTED TO THE ACS FINANCE COMMITTEE OF THE BOARD OF REGENTS. IF THE ACS FINANCE COMMITTEE FEELS THERE ARE CONFLICTS THAT ARE QUESTIONABLE IN NATURE, THEY ARE REPORTED TO THE ACS BOARD OF REGENTS CHAIR AND TREASURER FOR ACTION. THE BOARD OF REGENTS EXECUTIVE COMMITTEE SHALL TAKE ACTION ON ANY PRESUMED OR POTENTIAL VIOLATION OF THIS POLICY BY A MEMBER OF LEADERSHIP TO ENSURE THAT A CONFLICT OF INTEREST DOES NOT ARISE OR DOES NOT CONTINUE. IN ADDITION TO ANY LEGAL PENALTIES, SUCH ACTION MAY INCLUDE, BUT SHALL NOT BE LIMITED TO, ORAL ADMONISHMENT, WRITTEN REPRIMAND, RESIGNATION, AND RESTITUTION. A MEMBER WHO DISAGREES WITH THE FINDINGS OR RECOMMENDATIONS OF THE FINANCE COMMITTEE OR THE ACTION OF THE BOARD OF REGENTS EXECUTIVE COMMITTEE MAY APPEAL THE DECISION TO THE BOARD OF REGENTS. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE COLLEGE HAS POLICIES AND PROCEDURES CONCERNING COMPENSATION INCREASES, PERFORMANCE EVALUATIONS, AND JOB EVALUATIONS. IN ADDITION, MERIT INCREASES ARE INCLUDED AS A BUDGET PARAMETER FOR REVIEW BY THE FINANCE COMMITTEE AS IS THE ADDITION OF ANY NEW EMPLOYEE OR HUMAN RESOURCE BENEFIT PROPOSAL. THE COLLEGE HAS AN EXECUTIVE COMPENSATION COMMITTEE AS A SUBCOMMITTEE TO THE FINANCE COMMITTEE. THE COMMITTEE IS COMPRISED OF THE BOARD OF REGENTS CHAIR, BOARD OF REGENTS TREASURER, BOARD OF GOVERNORS SECRETARY, AND A MEMBER OF THE FINANCE COMMITTEE. THE EXECUTIVE COMPENSATION COMMITTEE'S PURPOSE IS AS FOLLOWS: TO ESTABLISH PROCEDURES TO CREATE A "REBUTTABLE PRESUMPTION OF REASONABLENESS" IN CONNECTION WITH IRS INTERMEDIATE SANCTIONS REGULATIONS. RESPONSIBILITIES ARE TO ENSURE THAT COMPENSATION FOR EACH "DISQUALIFIED PERSON" IS REASONABLE. HUMAN RESOURCES PROVIDES COMPARABILITY DATA TO THE COMMITTEE IN THE FORM OF SURVEYS, OTHER SIMILAR ORGANIZATIONS, GEOGRAPHICAL COMPARISONS, AND ACTUAL WRITTEN OFFERS FROM SIMILAR INSTITUTIONS FOR THE SERVICES OF A DISQUALIFIED PERSON. THE COMMITTEE DOCUMENTS THE BASIS FOR ALL COMPENSATION DETERMINATIONS. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS MADE AVAILABLE TO PUBLIC THE BYLAWS ARE AVAILABLE ON OUR WEBSITE. THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FUNDS HELD FOR OTHERS 271,517. PENSION ADJUSTMENT -11,210,324. SURGEONS ASSET MANAGEMENT 633 N SAINT CLAIR STREET CHICAGO IL 60611 203761195 INVST ADVISOR IL 0 0 ACS ACS EAST ONTARIO LLC 633 N SAINT CLAIR STREET CHICAGO IL 60611 362192800 RE INVESTMENT IL -61688 2572015 ACS AMERICAN COLLEGE OF SURGEONS PROF ASSOC 633 N SAINT CLAIR STREET CHICAGO IL 60611 300079883 ED IN SURGERY IL 501(C)(6) ACS 1 ACSPA SURGEONS PAC 633 N SAINT CLAIR STREET CHICAGO IL 60611 141849039 POLITICAL ACT IL 501(C)(27) ACSPA 1 AMERICAN COLLEGE OF SURGEONS FOUNDATION 633 N SAINT CLAIR STREET CHICAGO IL 60611 300305504 SURGICAL EDU IL 501(C)(3) LINE 7 ACS 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 AMERICAN COLLEGE OF SURGEONS PROF ASSOC C 19629275 COST AMERICAN COLLEGE OF SURGEONS PROF ASSOC M 1965778 COST AMERICAN COLLEGE OF SURGEONS PROF ASSOC O 591607 COST AMERICAN COLLEGE OF SURGEONS PROF ASSOC Q 727496 COST AMERICAN COLLEGE OF SURGEONS FOUNDATION C 280192 COST