Chmc Cardiovascular Surgical Foundation Inc

Nonprofit profile at a glance

EIN
042764370
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6173557008
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$36,837,695
Expenses
$33,218,639
Assets
$55,213,735
Liabilities
$7,335,854

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • PEDRO J DEL NIDO MD (PRESIDENT)

Highest reported compensation

  • PEDRO J DEL NIDO MD (PRESIDENT): $3,554,490 total reported compensation
  • SITARAM M EMANI MD (DIRECTOR): $1,948,881 total reported compensation
  • CHRISTOPHER W BAIRD MD (TREASURER): $1,904,323 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation provides cardiovascular services primarily to patients at boston children's hospital and at satellite locations. The foundation carries on and promotes basic and applied medical research and education in the field of cardiovascular surgery (see schedule o) by teaching students and other medical and scientific personnel. The foundation also provides care for patients regardless of their ability to pay.

What it reported doing in 2024

The foundation provides cardiovascular services primarily to patients at boston children's hospital and at satellite locations. The foundation may charge for patient care and other medical services, provided that any net income is used for the charitable, scientific, and educational purposes for which the foundation was created. The foundation also provides care for patients regardless of their ability to pay, as well as providing and supporting hospital and community based services that are either unavailable or limited elsewhere in the community. During the year ended september 30, 2025, the foundation performed 1,853 ambulatory visits and 1,445 surgical cases. The foundation provided $278,188 in free care services, had expenditures of $87,795 for research efforts, and provided funding of (see schedule o) $2,213,817 for teaching or educational initiatives for the year ended september 30, 2025.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 85% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 91
  • Accountability: 42
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.1%; rating input score 79
  • Program expense ratio: 89%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.9%; rating input score 100; 39th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.8%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 1.66; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 36.9%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 7.6% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 79.1% of revenue deployed · 89% of spending went to programs
  • Governance: 0 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $29.5M in reported program spending
  • Leadership: top reported pay $3.6M · 9 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $381K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.