﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2010v3.2">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2011-07-12T12:16:23-05:00</Timestamp>
    <TaxPeriodEndDate>2010-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>KUTCHINS ROBBINS &amp; DIAMOND LTD</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>1101 PERIMETER DR STE 760</AddressLine1>
        <City>SCHAUMBURG</City>
        <State>IL</State>
        <ZIPCode>60173</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990EZ</ReturnType>
    <TaxPeriodBeginDate>2010-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>363313192</EIN>
      <Name>
        <BusinessNameLine1>CONTINUING EDUCATION IN SHOULDER &amp;</BusinessNameLine1>
        <BusinessNameLine2>ELBOW SURGERY</BusinessNameLine2>
      </Name>
      <NameControl>CONT</NameControl>
      <Phone>8473844233</Phone>
      <USAddress>
        <AddressLine1>6300 N RIVER RD</AddressLine1>
        <AddressLine2>ROOM/SUITE 727</AddressLine2>
        <City>ROSEMONT</City>
        <State>IL</State>
        <ZIPCode>60018</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>MICHAEL L PEARL</Name>
      <Title>SECRETARY/TREASURER</Title>
      <Phone>8473844233</Phone>
      <DateSigned>2011-05-13</DateSigned>
    </Officer>
    <Preparer>
      <Name>DAVID WASIELEWSKI</Name>
      <Phone>8472401040</Phone>
      <DatePrepared>2011-06-22</DatePrepared>
    </Preparer>
    <TaxYear>2010</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="5">
    <IRS990EZ documentId="RetDoc5" referenceDocumentId="RetDoc4">
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <WebSite>N/A</WebSite>
      <Organization501c3 referenceDocumentId="RetDoc3">X</Organization501c3>
      <GrossReceipts>78130</GrossReceipts>
      <InfoInScheduleOPartI>X</InfoInScheduleOPartI>
      <ContributionsGiftsGrantsEtc>74600</ContributionsGiftsGrantsEtc>
      <InvestmentIncome>3530</InvestmentIncome>
      <TotalRevenue>78130</TotalRevenue>
      <GrantsAndSimilarAmountsPaid>3000</GrantsAndSimilarAmountsPaid>
      <FeesAndOthPymtToIndContractors>1475</FeesAndOthPymtToIndContractors>
      <OtherExpensesTotal>202</OtherExpensesTotal>
      <TotalExpenses>4677</TotalExpenses>
      <ExcessOrDeficitForYear>73453</ExcessOrDeficitForYear>
      <NetAssetsOrFundBalancesBOY>232216</NetAssetsOrFundBalancesBOY>
      <OtherChangesInNetAssets>-901</OtherChangesInNetAssets>
      <NetAssetsOrFundBalancesEOY>304768</NetAssetsOrFundBalancesEOY>
      <InfoInScheduleOPartII>X</InfoInScheduleOPartII>
      <CashSavingsAndInvestments>
        <BOY>153155</BOY>
        <EOY>162823</EOY>
      </CashSavingsAndInvestments>
      <OtherAssetsTotal>
        <BOY>79061</BOY>
        <EOY>141945</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>232216</BOY>
        <EOY>304768</EOY>
      </TotalAssets>
      <NetAssetsOrFundBalances>
        <BOY>232216</BOY>
        <EOY>304768</EOY>
      </NetAssetsOrFundBalances>
      <InfoInScheduleOPartIII>X</InfoInScheduleOPartIII>
      <PrimaryExemptPurpose>PROVIDE FUNDING FOR MEDICAL RESEARCH.</PrimaryExemptPurpose>
      <ProgramServiceAccomplishment>
        <DescriptionProgramServiceAccom>FOSTER RESEARCH RELATIVE TO SHOULDER AND ELBOW SURGERY BY PROVIDING GRANTS TO PRESENTERS OF SCIENTIFIC PAPERS RELATING TO TECHNIQUES AND DEVELOPMENTS IN PROCEDURES OF SHOULDER AND ELBOW SURGERY.</DescriptionProgramServiceAccom>
        <GrantsAndAllocations>3000</GrantsAndAllocations>
        <ProgramServiceExpenses>3000</ProgramServiceExpenses>
      </ProgramServiceAccomplishment>
      <TotalProgramServiceExpenses>3000</TotalProgramServiceExpenses>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">MATTHEW L RAMSEY MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>DIRECTOR</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">MARC R SAFRAN MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>DIRECTOR</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">FRANCES CUOMO MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>PRESIDENT</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">JON JP WARNER MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>PRESIDENT EL</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">JEFFREY S ABRAMS MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>VICE PRESIDE</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">MICHAEL L PEARL MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>SECRETARY/TR</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">GEORGE M MCCLUSKEY III MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>SECR/TREAS E</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">GERALD R WILLIAMS MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>PAST PRESIDE</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName referenceDocumentId="RetDoc2">EVAN L FLATOW MD</PersonName>
        <AddressUS>
          <AddressLine1>6300 N RIVER ROAD SUITE 727</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <Title>PAST PRESIDE</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
      </OfficerDirectorTrusteeKeyEmpl>
      <ActivitiesNotPreviouslyRpt>false</ActivitiesNotPreviouslyRpt>
      <MadeChangesToOrgnzngEtcDoc>false</MadeChangesToOrgnzngEtcDoc>
      <OrganizationHadUBI>false</OrganizationHadUBI>
      <OrganizationDissolvedEtc>false</OrganizationDissolvedEtc>
      <DidOrgFileForm1120POLThisYear>false</DidOrgFileForm1120POLThisYear>
      <MadeLoansToFromOfficers>false</MadeLoansToFromOfficers>
      <EngagedInExcessBenefitTrans>false</EngagedInExcessBenefitTrans>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <StatesWhereCopyOfReturnIsFiled>IL</StatesWhereCopyOfReturnIsFiled>
      <TheBooksAreInCareOf>
        <NamePerson>ANNA GREENE</NamePerson>
        <AddressUS>
          <AddressLine1>6300 RIVER ROAD</AddressLine1>
          <City>ROSEMONT</City>
          <State>IL</State>
          <ZIPCode>60018</ZIPCode>
        </AddressUS>
        <TelephoneNumber>8473844233</TelephoneNumber>
      </TheBooksAreInCareOf>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ForeignOffice>false</ForeignOffice>
      <MaintainAnyDonorAdvisedFunds>false</MaintainAnyDonorAdvisedFunds>
      <DoesOrgHaveHospital>false</DoesOrgHaveHospital>
      <TanningServicesProvided>false</TanningServicesProvided>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <TransactionWithControlEntity>false</TransactionWithControlEntity>
      <EngagePoliticalCmpgnActivities>false</EngagePoliticalCmpgnActivities>
      <EngageInLobbyingActivities>false</EngageInLobbyingActivities>
      <OperatingSchool>false</OperatingSchool>
      <TrnsfrsExemptNonCharRelatedOrg>false</TrnsfrsExemptNonCharRelatedOrg>
      <PartVIOfCompOfHighestPaidEmpl>NONE</PartVIOfCompOfHighestPaidEmpl>
      <PartVIAHghstPaidCntrctProfSer>NONE</PartVIAHghstPaidCntrctProfSer>
      <FiledScheduleA>true</FiledScheduleA>
    </IRS990EZ>
    <IRS990ScheduleA documentId="RetDoc3">
      <SupportingOrganization509a3>X</SupportingOrganization509a3>
      <SupportingOrg509a3Type2>X</SupportingOrg509a3Type2>
      <CertificationCheckbox>X</CertificationCheckbox>
      <ContribByControllingIndividual>false</ContribByControllingIndividual>
      <ContributionByRelatedParty>false</ContributionByRelatedParty>
      <ContribBy35ControlledEntity>false</ContribBy35ControlledEntity>
      <SupportedOrgInformation>
        <Name>
          <BusinessNameLine1>AMERICAN SHOULDER &amp; ELBOW SURGEONS</BusinessNameLine1>
        </Name>
        <EIN>411474626</EIN>
        <TypeOfOrganization>()</TypeOfOrganization>
        <ListedInGoverningDoc>false</ListedInGoverningDoc>
        <SupportedOrganizationNotified>true</SupportedOrganizationNotified>
        <OrganizedInUS>true</OrganizedInUS>
        <Amount>3000</Amount>
      </SupportedOrgInformation>
      <TotalNumberOfSupportedOrgs>1</TotalNumberOfSupportedOrgs>
      <SumOfAmounts>3000</SumOfAmounts>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1">
      <ContributorInfo>
        <ContributorNumber>RESTRICTED</ContributorNumber>
        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleO documentId="RetDoc4">
      <GeneralExplanation>
        <Identifier>OTHER EXPENSES</Identifier>
        <ReturnReference>FORM 990-EZ, PART I, LINE 16</ReturnReference>
        <Explanation>EXPENSES MISCELLANEOUS EXPENSE 15 BANK CHARGES AND MISCELLA 187 TOTAL 202</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OTHER CHANGES IN NET ASSETS OR FUND BALANCES</Identifier>
        <ReturnReference>FORM 990-EZ, PART I, LINE 20</ReturnReference>
        <Explanation>UNREALIZED G/L -901</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OTHER ASSETS</Identifier>
        <ReturnReference>FORM 990-EZ, PART II, LINE 24</ReturnReference>
        <Explanation>ACCOUNTS RECEIVABLE 78,291 141,166 INTEREST RECEIVABLE 770 779 TOTAL 79,061 141,945</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FIRST ACHIEVEMENT</Identifier>
        <ReturnReference>FORM 990-EZ, PART III, LINE 28</ReturnReference>
        <Explanation>FOSTER RESEARCH RELATIVE TO SHOULDER AND ELBOW SURGERY BY PROVIDING GRANTS TO PRESENTERS OF SCIENTIFIC PAPERS RELATING TO TECHNIQUES AND DEVELOPMENTS IN PROCEDURES OF SHOULDER AND ELBOW SURGERY.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <CompensationExplanation documentId="RetDoc2">
      <Compensation>
        <PersonName>MATTHEW L RAMSEY MD</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>MARC R SAFRAN MD</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>FRANCES CUOMO MD</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>JON JP WARNER MD</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>JEFFREY S ABRAMS MD</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>MICHAEL L PEARL MD</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>GEORGE M MCCLUSKEY III MD</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>GERALD R WILLIAMS MD</PersonName>
      </Compensation>
      <Compensation>
        <PersonName>EVAN L FLATOW MD</PersonName>
      </Compensation>
    </CompensationExplanation>
  </ReturnData>
</Return>