﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2019v5.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2020-10-30T15:36:40-05:00</ReturnTs>
    <TaxPeriodEndDt>2019-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>363856676</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>KUTCHINS ROBBINS &amp; DIAMOND LTD</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1101 PERIMETER DRIVE SUITE 760</AddressLine1Txt>
        <CityNm>SCHAUMBURG</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60173</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2019-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>363313192</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>ASES FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>ASES</BusinessNameControlTxt>
      <PhoneNum>8473844233</PhoneNum>
      <USAddress>
        <AddressLine1Txt>9400 W HIGGINS ROAD STE 500</AddressLine1Txt>
        <CityNm>ROSEMONT</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60018</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>GREGORY P NICHOLSON MD</PersonNm>
      <PersonTitleTxt>SECRETARY/TREASURER</PersonTitleTxt>
      <PhoneNum>8473844233</PhoneNum>
      <SignatureDt>2020-10-02</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>CHAD PORTER</PreparerPersonNm>
      <PTIN>P01058119</PTIN>
      <PhoneNum>8472401040</PhoneNum>
      <PreparationDt>2020-10-02</PreparationDt>
    </PreparerPersonGrp>
    <FilingSecurityInformation>
      <IPAddress>
        <IPv4AddressTxt>67.184.198.147</IPv4AddressTxt>
      </IPAddress>
      <IPDt>2020-10-02</IPDt>
      <IPTm>11:51:53</IPTm>
      <IPTimezoneCd>CD</IPTimezoneCd>
      <FilingLicenseTypeCd>P</FilingLicenseTypeCd>
      <AtSubmissionCreationDeviceId>DA39A3EE5E6B4B0D3255BFEF95601890AFD80709</AtSubmissionCreationDeviceId>
      <AtSubmissionFilingDeviceId>1F076AA67CE37BB4C615675B508F5B257363FF10</AtSubmissionFilingDeviceId>
    </FilingSecurityInformation>
    <TaxYr>2019</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <PrincipalOfficerNm>GREGORY P NICHOLSON MD</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>9400 W HIGGINS ROAD SUITE 500</AddressLine1Txt>
        <CityNm>ROSEMONT</CityNm>
        <StateAbbreviationCd>IL</StateAbbreviationCd>
        <ZIPCd>60018</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>894801</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>0</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>ASES-ASSN.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>1984</FormationYr>
      <LegalDomicileStateCd>IL</LegalDomicileStateCd>
      <ActivityOrMissionDesc>PERFORM AND ASSIST IN CARRYING OUT CHARITABLE AND EDUCATIONAL FUNCTIONS AND PURPOSES OF THE AMERICAN SHOULDER AND ELBOW SURGEONS.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>9</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>9</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>0</TotalEmployeeCnt>
      <TotalVolunteersCnt>15</TotalVolunteersCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <NetUnrelatedBusTxblIncmAmt>0</NetUnrelatedBusTxblIncmAmt>
      <PYContributionsGrantsAmt>1616746</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>779120</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>0</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>0</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>70988</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>115681</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>0</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>0</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>1687734</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>894801</CYTotalRevenueAmt>
      <PYGrantsAndSimilarPaidAmt>393387</PYGrantsAndSimilarPaidAmt>
      <CYGrantsAndSimilarPaidAmt>449125</CYGrantsAndSimilarPaidAmt>
      <PYBenefitsPaidToMembersAmt>0</PYBenefitsPaidToMembersAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>0</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>0</CYSalariesCompEmpBnftPaidAmt>
      <PYTotalProfFndrsngExpnsAmt>0</PYTotalProfFndrsngExpnsAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>0</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>34642</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>52418</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>428029</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>501543</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>1259705</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>393258</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>3561608</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>4418313</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>3197</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>145343</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>3558411</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>4272970</NetAssetsOrFundBalancesEOYAmt>
      <MissionDesc>PERFORM AND ASSIST IN CARRYING OUT CHARITABLE AND EDUCATIONAL FUNCTIONS AND PURPOSES OF THE AMERICAN SHOULDER AND ELBOW SURGEONS.</MissionDesc>
      <SignificantNewProgramSrvcInd>0</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>0</SignificantChangeInd>
      <ExpenseAmt>461225</ExpenseAmt>
      <GrantAmt>449125</GrantAmt>
      <Desc>FOSTER RESEARCH RELATIVE TO SHOULDER AND ELBOW SURGERY BY PROVIDING GRANTS TO PRESENTERS OF SCIENTIFIC PAPERS RELATING TO THE TECHNIQUES AND DEVELOPMENTS IN SHOULDER AND ELBOW SURGERY. ADDITIONALLY, THE FOUNDATION GIVES FELLOWSHIP GRANTS FOR THE EDUCATION AND TRAINING OF SHOULDER AND ELBOW CLINICIANS.</Desc>
      <TotalProgramServiceExpensesAmt>461225</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc1039100001">1</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1234500001">1</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>0</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>0</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>0</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc1040000001">0</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc1040000001">0</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc1040000001">0</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc1040000001">0</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd>1</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc1040000001">0</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc1040000001">0</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc1040000001">0</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc1040000001">0</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc1040000001">0</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc1040000001">0</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">1</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">0</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>0</SchoolOperatingInd>
      <ForeignOfficeInd>0</ForeignOfficeInd>
      <ForeignActivitiesInd referenceDocumentId="RetDoc1040500001">1</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd referenceDocumentId="RetDoc1040500001">1</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd referenceDocumentId="RetDoc1040500001">0</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>0</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>0</FundraisingActivitiesInd>
      <GamingActivitiesInd>0</GamingActivitiesInd>
      <OperateHospitalInd>0</OperateHospitalInd>
      <GrantsToOrganizationsInd referenceDocumentId="RetDoc1041900001">1</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd referenceDocumentId="RetDoc1041900001">0</GrantsToIndividualsInd>
      <ScheduleJRequiredInd>0</ScheduleJRequiredInd>
      <TaxExemptBondsInd>0</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>0</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>0</PYExcessBenefitTransInd>
      <LoanOutstandingInd>0</LoanOutstandingInd>
      <GrantToRelatedPersonInd>0</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>0</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>0</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>0</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>0</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>0</DeductibleArtContributionInd>
      <TerminateOperationsInd>0</TerminateOperationsInd>
      <PartialLiquidationInd>0</PartialLiquidationInd>
      <DisregardedEntityInd referenceDocumentId="RetDoc1043400001">0</DisregardedEntityInd>
      <RelatedEntityInd referenceDocumentId="RetDoc1043400001">1</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>0</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd referenceDocumentId="RetDoc1043400001">0</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd referenceDocumentId="RetDoc1043400001">0</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>1</ScheduleORequiredInd>
      <IRPDocumentCnt>3</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <EmployeeCnt>0</EmployeeCnt>
      <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>0</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>0</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>0</NondeductibleContributionsInd>
      <QuidProQuoContributionsInd>0</QuidProQuoContributionsInd>
      <Form8282PropertyDisposedOfInd>0</Form8282PropertyDisposedOfInd>
      <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
      <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
      <IndoorTanningServicesInd>0</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>0</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>9</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>9</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>0</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>1</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>0</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>0</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>0</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>0</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>0</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>1</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>1</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>0</OfficerMailingAddressInd>
      <LocalChaptersInd>0</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>1</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>1</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>1</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>1</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>1</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>1</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>0</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>0</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>0</InvestmentInJointVentureInd>
      <StatesWhereCopyOfReturnIsFldCd>IL</StatesWhereCopyOfReturnIsFldCd>
      <StatesWhereCopyOfReturnIsFldCd>CA</StatesWhereCopyOfReturnIsFldCd>
      <StatesWhereCopyOfReturnIsFldCd>NY</StatesWhereCopyOfReturnIsFldCd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <BusinessName>
          <BusinessNameLine1Txt>ANNA GREENE</BusinessNameLine1Txt>
        </BusinessName>
        <PhoneNum>8473844233</PhoneNum>
        <USAddress>
          <AddressLine1Txt>9400 W HIGGINS ROAD STE 500</AddressLine1Txt>
          <CityNm>ROSEMONT</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>60018</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <NoListedPersonsCompensatedInd>X</NoListedPersonsCompensatedInd>
      <Form990PartVIISectionAGrp>
        <PersonNm>ANTHONY MINIACI MD FRCSC</PersonNm>
        <TitleTxt>CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>FRANK A CORDASSCO MD MS</PersonNm>
        <TitleTxt>PAST PRESIDENT</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>GREGORY P NICHOLSON MD</PersonNm>
        <TitleTxt>SECRETARY/TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>APRIL D ARMSTRONG MD FRCSC</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MARK D LAZARUS</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>EVAN FLATOW</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>WILLIAM H SEITZ JR MD</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JON JP WARNER MD</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JONATHAN B TICKER MD</PersonNm>
        <TitleTxt>EX OFFICIO</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>0</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>0</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>0</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>0</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <CntrctRcvdGreaterThan100KCnt>0</CntrctRcvdGreaterThan100KCnt>
      <AllOtherContributionsAmt>779120</AllOtherContributionsAmt>
      <TotalContributionsAmt>779120</TotalContributionsAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>115681</TotalRevenueColumnAmt>
        <ExclusionAmt>115681</ExclusionAmt>
      </InvestmentIncomeGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>894801</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>0</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>115681</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticOrgsGrp>
        <TotalAmt>419125</TotalAmt>
        <ProgramServicesAmt>419125</ProgramServicesAmt>
      </GrantsToDomesticOrgsGrp>
      <ForeignGrantsGrp>
        <TotalAmt>30000</TotalAmt>
        <ProgramServicesAmt>30000</ProgramServicesAmt>
      </ForeignGrantsGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>7086</TotalAmt>
        <ManagementAndGeneralAmt>7086</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>4450</TotalAmt>
        <ManagementAndGeneralAmt>4450</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>22452</TotalAmt>
        <ManagementAndGeneralAmt>22452</ManagementAndGeneralAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <OfficeExpensesGrp>
        <TotalAmt>12100</TotalAmt>
        <ProgramServicesAmt>12100</ProgramServicesAmt>
      </OfficeExpensesGrp>
      <TravelGrp>
        <TotalAmt>439</TotalAmt>
        <ManagementAndGeneralAmt>439</ManagementAndGeneralAmt>
      </TravelGrp>
      <OtherExpensesGrp>
        <Desc>MISCELLANEOUS</Desc>
        <TotalAmt>5891</TotalAmt>
        <ManagementAndGeneralAmt>5891</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>501543</TotalAmt>
        <ProgramServicesAmt>461225</ProgramServicesAmt>
        <ManagementAndGeneralAmt>40318</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>1429611</BOYAmt>
        <EOYAmt>884355</EOYAmt>
      </CashNonInterestBearingGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>39798</BOYAmt>
        <EOYAmt>44048</EOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <AccountsReceivableGrp>
        <BOYAmt>7650</BOYAmt>
        <EOYAmt>4750</EOYAmt>
      </AccountsReceivableGrp>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>2084277</BOYAmt>
        <EOYAmt>3485160</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>272</BOYAmt>
        <EOYAmt>0</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>3561608</BOYAmt>
        <EOYAmt>4418313</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>3197</BOYAmt>
        <EOYAmt>145343</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>3197</BOYAmt>
        <EOYAmt>145343</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>1984674</BOYAmt>
        <EOYAmt>2368800</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>1573737</BOYAmt>
        <EOYAmt>1904170</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>3558411</BOYAmt>
        <EOYAmt>4272970</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>3561608</BOYAmt>
        <EOYAmt>4418313</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>393258</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>321301</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>0</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <SupportingOrganization509a3Ind>X</SupportingOrganization509a3Ind>
      <SupportingOrgType2Ind>X</SupportingOrgType2Ind>
      <SupportedOrganizationsCnt>1</SupportedOrganizationsCnt>
      <SupportedOrgInformationGrp>
        <SupportedOrganizationName>
          <BusinessNameLine1Txt>AMERICAN SHOULDER &amp; ELBOW SURGEONS</BusinessNameLine1Txt>
        </SupportedOrganizationName>
        <EIN>411474626</EIN>
        <OrganizationTypeCd>10</OrganizationTypeCd>
        <GoverningDocumentListedInd>1</GoverningDocumentListedInd>
        <SupportAmt>0</SupportAmt>
        <OtherSupportAmt>0</OtherSupportAmt>
      </SupportedOrgInformationGrp>
      <SupportedOrganizationsTotalCnt>1</SupportedOrganizationsTotalCnt>
      <SupportSumAmt>0</SupportSumAmt>
      <OtherSupportSumAmt>0</OtherSupportSumAmt>
      <Form990SchASupportingOrgGrp>
        <ListedByNameGoverningDocInd>1</ListedByNameGoverningDocInd>
        <SuprtOrgNoIRSDeterminationInd>0</SuprtOrgNoIRSDeterminationInd>
        <SupportedOrgSectionC456Ind>1</SupportedOrgSectionC456Ind>
        <SupportedOrgQualifiedInd>1</SupportedOrgQualifiedInd>
        <SuprtExclusivelySec170c2BInd>1</SuprtExclusivelySec170c2BInd>
        <SupportedOrgNotOrganizedUSInd>0</SupportedOrgNotOrganizedUSInd>
        <OrganizationChangeSuprtOrgInd>0</OrganizationChangeSuprtOrgInd>
        <SupportNonSupportedOrgInd>0</SupportNonSupportedOrgInd>
        <PaymentSubstantialContribtrInd>0</PaymentSubstantialContribtrInd>
        <LoanDisqualifiedPersonInd>0</LoanDisqualifiedPersonInd>
        <ControlledDisqualifiedPrsnInd>0</ControlledDisqualifiedPrsnInd>
        <DisqualifiedPrsnControllIntInd>0</DisqualifiedPrsnControllIntInd>
        <DisqualifiedPrsnOwnrIntInd>0</DisqualifiedPrsnOwnrIntInd>
        <ExcessBusinessHoldingsRulesInd>0</ExcessBusinessHoldingsRulesInd>
        <ContributionControllerInd>0</ContributionControllerInd>
        <ContributionFamilyInd>0</ContributionFamilyInd>
        <Contribution35ControlledInd>0</Contribution35ControlledInd>
      </Form990SchASupportingOrgGrp>
      <MajorityDirTrstSupportedOrgInd>1</MajorityDirTrstSupportedOrgInd>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART IV, SECTION A, LINE 3B - DETERMINATION MADE BY ORG.</FormAndLineReferenceDesc>
        <ExplanationTxt>COMMON BOARD WITH 501C6, EXAMINED IRS DETERMINATION</ExplanationTxt>
      </Form990ScheduleAPartVIGrp>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART IV, SECTION A, LINE 3C - CONTROLS FOR 170(C)(2)(B)</FormAndLineReferenceDesc>
        <ExplanationTxt>COMMON BOARD, ALL SUPPORT FOR RESEARCH AND EDUCATIONAL PURPOSES</ExplanationTxt>
      </Form990ScheduleAPartVIGrp>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>270742</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>538</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>-5100</GrantsOrScholarshipsAmt>
        <EndYearBalanceAmt>266180</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>275152</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>123</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>-4533</GrantsOrScholarshipsAmt>
        <EndYearBalanceAmt>270742</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>278599</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>208</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>-3655</GrantsOrScholarshipsAmt>
        <EndYearBalanceAmt>275152</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>281211</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>388</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>-3000</GrantsOrScholarshipsAmt>
        <EndYearBalanceAmt>278599</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>287370</BeginningYearBalanceAmt>
        <ContributionsAmt>2000</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>447</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>-3000</GrantsOrScholarshipsAmt>
        <AdministrativeExpensesAmt>-5606</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>281211</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <PrmnntEndowmentBalanceEOYPct>0.04580</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.95420</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>0</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <TotalBookValueLandBuildingsAmt>0</TotalBookValueLandBuildingsAmt>
      <TotalRevEtcAuditedFinclStmtAmt>1193650</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>321301</NetUnrealizedGainsInvstAmt>
      <RevenueNotReportedAmt>321301</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>872349</RevenueSubtotalAmt>
      <InvestmentExpensesNotIncldAmt>22452</InvestmentExpensesNotIncldAmt>
      <RevenueNotReportedFinclStmtAmt>22452</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>894801</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>479091</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesNotReportedAmt>0</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>479091</ExpensesSubtotalAmt>
      <InvestmentExpensesNotIncld2Amt>22452</InvestmentExpensesNotIncld2Amt>
      <ExpensesNotRptFinclStmtAmt>22452</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>501543</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4 - INTENDED USES FOR ENDOWMENT FUNDS</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FOUNDATION'S ENDOWMENT FUNDS ARE TO BE HELD IN PERPETUITY AND INVESTMENT INCOME IS TO BE UTILIZED FOR THE FOUNDATION'S MISSION.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleF documentId="RetDoc1040500001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <AccountActivitiesOutsideUSGrp>
        <RegionTxt>EAST ASIA AND THE PACIFIC</RegionTxt>
        <OfficesCnt>0</OfficesCnt>
        <EmployeeCnt>0</EmployeeCnt>
        <TypeOfActivitiesConductedTxt>GRANT MAKING</TypeOfActivitiesConductedTxt>
        <SpecificServicesProvidedTxt>RESEARCH</SpecificServicesProvidedTxt>
        <RegionTotalExpendituresAmt>30000</RegionTotalExpendituresAmt>
      </AccountActivitiesOutsideUSGrp>
      <SubtotalOfficesCnt>0</SubtotalOfficesCnt>
      <SubtotalEmployeesCnt>0</SubtotalEmployeesCnt>
      <ContinuationTotalOfficeCnt>0</ContinuationTotalOfficeCnt>
      <ContinuationTotalEmployeeCnt>0</ContinuationTotalEmployeeCnt>
      <TotalOfficeCnt>0</TotalOfficeCnt>
      <TotalEmployeeCnt>0</TotalEmployeeCnt>
      <SubtotalSpentAmt>30000</SubtotalSpentAmt>
      <ContinuationSpentAmt>0</ContinuationSpentAmt>
      <TotalSpentAmt>30000</TotalSpentAmt>
      <GrantsToOrgOutsideUSGrp>
        <RegionTxt>EAST ASIA AND THE PACIFIC</RegionTxt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
        <CashGrantAmt>15000</CashGrantAmt>
        <MannerOfCashDisbursementTxt>CHECK</MannerOfCashDisbursementTxt>
      </GrantsToOrgOutsideUSGrp>
      <GrantsToOrgOutsideUSGrp>
        <RegionTxt>EAST ASIA AND THE PACIFIC</RegionTxt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
        <CashGrantAmt>15000</CashGrantAmt>
        <MannerOfCashDisbursementTxt>CHECK</MannerOfCashDisbursementTxt>
      </GrantsToOrgOutsideUSGrp>
      <Total501c3OrgCnt>2</Total501c3OrgCnt>
      <TransferToForeignCorpInd>0</TransferToForeignCorpInd>
      <InterestInForeignTrustInd>0</InterestInForeignTrustInd>
      <ForeignCorpOwnershipInd>0</ForeignCorpOwnershipInd>
      <PassiveForeignInvestmestCoInd>0</PassiveForeignInvestmestCoInd>
      <ForeignPartnershipInd>0</ForeignPartnershipInd>
      <BoycottCountriesInd>0</BoycottCountriesInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>RECIPIENTS MUST MEET CERTAIN CRITERIA TO BE ELIGIBLE FOR GRANTS FROM THE FOUNDATION. THE RECIPIENT MUST BE PRESENT AT THE ANNUAL MEETING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART III ACCOUNTING METHOD:</FormAndLineReferenceDesc>
      </SupplementalInformationDetail>
    </IRS990ScheduleF>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>THE CLEVELAND CLINIC FOUNDATION</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>9500 EUCLID AVENUE</AddressLine1Txt>
          <CityNm>CLEVELAND</CityNm>
          <StateAbbreviationCd>OH</StateAbbreviationCd>
          <ZIPCd>44195</ZIPCd>
        </USAddress>
        <RecipientEIN>340714585</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>FOUNDATION FOR ORTHOPAEDIC RESEARCH</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>13020 N TELECOM PARKWAY</AddressLine1Txt>
          <CityNm>TAMPA</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>33637</ZIPCd>
        </USAddress>
        <RecipientEIN>593555349</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>RUSH SHOULDER AND ELBOW FELLOWSHIP</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>1653 W CONGRESS PARKWAY</AddressLine1Txt>
          <CityNm>CHICAGO</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>60612</ZIPCd>
        </USAddress>
        <RecipientEIN>362174823</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>TX ED &amp; RESEARCH FDN FOR SHOULDER &amp; ELBOW SURGERY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>7401 S MAIN STREET</AddressLine1Txt>
          <CityNm>HOUSTON</CityNm>
          <StateAbbreviationCd>TX</StateAbbreviationCd>
          <ZIPCd>77030</ZIPCd>
        </USAddress>
        <RecipientEIN>821438713</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>UMPC COMMUNITY MEDICINE INC</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>200 LOTHROP STREET</AddressLine1Txt>
          <CityNm>PITTSBURGH</CityNm>
          <StateAbbreviationCd>PA</StateAbbreviationCd>
          <ZIPCd>15213</ZIPCd>
        </USAddress>
        <RecipientEIN>231727721</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>WILLIAM BEAUMONT HOSPITAL</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>3601 W THIRTEEN MILE ROAD</AddressLine1Txt>
          <CityNm>ROYAL OAK</CityNm>
          <StateAbbreviationCd>MI</StateAbbreviationCd>
          <ZIPCd>48073</ZIPCd>
        </USAddress>
        <RecipientEIN>381459362</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MASSACHUSETTS GENERAL HOSPITAL</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>75 FRANCIS STREET</AddressLine1Txt>
          <CityNm>BOSTON</CityNm>
          <StateAbbreviationCd>MA</StateAbbreviationCd>
          <ZIPCd>02115</ZIPCd>
        </USAddress>
        <RecipientEIN>042312909</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>THE TRUSTEES OF COLUMBIA UNIVERSITY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>615 W 131ST STREET 3RD FLOOR</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10027</ZIPCd>
        </USAddress>
        <RecipientEIN>135598093</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>CINCINNATI SHOULDER &amp; ELBOW RESEARCH &amp; EDUCATION FOUNDATION INC</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>3287 HEMLOCK ROAD</AddressLine1Txt>
          <CityNm>EDGEWOOD</CityNm>
          <StateAbbreviationCd>KY</StateAbbreviationCd>
          <ZIPCd>41017</ZIPCd>
        </USAddress>
        <RecipientEIN>822840237</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>JOHNS HOPKINS UNIVERSITY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>3910 KESWICK ROAD N4327B</AddressLine1Txt>
          <CityNm>BALTIMORE</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>21211</ZIPCd>
        </USAddress>
        <RecipientEIN>520595110</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>44625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>NYULMC</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>500 1ST AVENUE</AddressLine1Txt>
          <CityNm>NEW YORK</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>10016</ZIPCd>
        </USAddress>
        <RecipientEIN>135662308</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MEDSTAR UNION MEMORIAL HOSPITAL</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>201 E UNIVERSITY PARKWAY</AddressLine1Txt>
          <CityNm>BALTIMORE</CityNm>
          <StateAbbreviationCd>MD</StateAbbreviationCd>
          <ZIPCd>21218</ZIPCd>
        </USAddress>
        <RecipientEIN>520591685</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>RHODE ISLAND HOSPITAL</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>593 EDDY STREET</AddressLine1Txt>
          <CityNm>PROVIDENCE</CityNm>
          <StateAbbreviationCd>RI</StateAbbreviationCd>
          <ZIPCd>02903</ZIPCd>
        </USAddress>
        <RecipientEIN>050258954</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>UNIVERSITY OF FLORIDA</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>219 GRINTER HALL</AddressLine1Txt>
          <CityNm>GAINESVILLE</CityNm>
          <StateAbbreviationCd>FL</StateAbbreviationCd>
          <ZIPCd>32611</ZIPCd>
        </USAddress>
        <RecipientEIN>596002052</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>UNIVERSITY OF WASHINGTON</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>4333 BROOKLYN AVE NE</AddressLine1Txt>
          <CityNm>SEATTLE</CityNm>
          <StateAbbreviationCd>WA</StateAbbreviationCd>
          <ZIPCd>98195</ZIPCd>
        </USAddress>
        <RecipientEIN>916001537</RecipientEIN>
        <IRCSectionDesc>501C3</IRCSectionDesc>
        <CashGrantAmt>24625</CashGrantAmt>
        <PurposeOfGrantTxt>RESEARCH</PurposeOfGrantTxt>
      </RecipientTable>
      <Total501c3OrgCnt>15</Total501c3OrgCnt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>RECIPIENTS MUST MEET CERTAIN CRITERIA TO BE ELIGIBLE FOR GRANTS FROM THE FOUNDATION. THE RECIPIENT MUST BE PRESENT AT THE ANNUAL MEETING.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>MANAGEMENT DUTIES ARE PERFORMED BY EMPLOYEES OF THE AMERICAN ACADEMY OF ORTHOPAEDIC SURGEONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM (CPA) PREPARES THE FOUNDATION'S FORM 990 AND SUBMITS THE FORM TO THE FOUNDATION'S MANAGEMENT FOR REVIEW. WITHIN THE MANAGEMENT, THE FORM IS REVIEWED BY A CERTIFIED PUBLIC ACCOUNTANT WITH EXTENSIVE NONPROFIT ACCOUNTING EXPERIENCE. THE MANAGEMENT COMPANY SUBMITS THE FORM TO THE FOUNDATION'S TREASURER FOR REVIEW. AN ELECTRONIC COPY OF THE FORM IS ALSO PROVIDED TO ALL VOTING MEMBERS OF THE BOARD FOR REVIEW. QUESTIONS AND COMMENTS ON THE FORM BY THE TREASURER AND BOARD MEMBERS ARE DIRECTED BACK TO THE CPA AND INTERNAL ACCOUNTANT FOR RESOLUTION. AFTER ALL DISCUSSION POINTS ARE RESOLVED, THE FORMS ARE FINALIZED AND PROVIDED TO THE TREASURER FOR FINAL REVIEW AND SIGNATURE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>INTERESTED PARTIES MUST DISCLOSE THEIR POSITION PRIOR TO ENGAGING IN ANY TRANSACTION THAT GIVES RISE TO CONFLICT. THE CONFLICT IS THEN EVALUATED BY THE EXECUTIVE COMMITTEE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <IdRelatedTaxExemptOrgGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>AMERICAN SHOULDER AND ELBOW SURGEONS</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>9400 W HIGGINS ROAD SUITE 500</AddressLine1Txt>
          <CityNm>ROSEMONT</CityNm>
          <StateAbbreviationCd>IL</StateAbbreviationCd>
          <ZIPCd>60018</ZIPCd>
        </USAddress>
        <EIN>411474626</EIN>
        <PrimaryActivitiesTxt>EDUCATION</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>IL</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501C6</ExemptCodeSectionTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>ASES</BusinessNameLine1Txt>
        </DirectControllingEntityName>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>0</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>0</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>0</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>0</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>0</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>0</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>0</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>0</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>0</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>0</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>0</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>0</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>0</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>0</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>0</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>1</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>0</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>0</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>0</TransferFromOtherOrgInd>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>AMERICAN SHOULDER &amp; ELBOW SURGEONS</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>P</TransactionTypeTxt>
        <MethodOfAmountDeterminationTxt>CASH</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
    </IRS990ScheduleR>
  </ReturnData>
</Return>