Foundation for Arthroplasty Research and Education
Nonprofit profile at a glance
- EIN
- 472095371
- IRS 990 coverage
- 2017–2024
- Forms available
- Form 990 2024
- Location
- Rosemont, IL, USA
- Phone
- 8476981200
- Rating
- 69
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Nerve, Muscle, Bone Diseases Research
Reported finances
- Revenue
- $103,998
- Expenses
- $219,736
- Assets
- $1,771,922
- Liabilities
- $100,000
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- JAVAD PARVIZI (PRESIDENT/FIRST VP)
- BRYAN SPRINGER (PRESIDENT)
- MICHAEL ZARSKI (EXECUTIVE DIRECTOR)
Highest reported compensation
- MICHAEL ZARSKI (EXECUTIVE DIRECTOR): $423,810 total reported compensation
- JAMES BROWNE (TREASURER): $20,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To improve health and quality of life by supporting hip and knee research, education in joint care, and scientific advances in the treatment of the hip and knee.
What it reported doing in 2024
Fare established a grants committee to award monetary grants or other forms of financial and in-kind support to research projects and educational activities that advance the fare mission. The board authorized up to $250,000 to be used for research grants and a solicitation to researchers to apply for grants was issued. Fare worked with the aahks research committee to provide a blinded technical evaluation and scoring of relevant research/education proposals in support of the fare grants committee.
Operating model
- Revenue model
- Investment-supported. 71% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 53
- Accountability: 76
- Sustainability: 33
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 91%; rating input score 91
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 75%; rating input score 75; 47th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 75%; rating input score 75; 20th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -111.3%; rating input score 2; 2nd percentile among comparable filings
- Total-asset coverage ratio: 8.06; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 10.8%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: 9% per year; rating input score 100; 67th percentile among comparable filings
- Revenue growth: -4.3% per year; rating input score 0; 11th percentile among comparable filings
- Asset growth: -2.2% per year; rating input score 0; 17th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 91% of spending went to programs
- Governance: 3 of 4 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $200K in reported program spending
- Leadership: top reported pay $424K · 8 people listed · 0 of 6 pay-setting controls reported
- Consistency: 17 of 18 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 7 filing years from 2017 to 2024
- Contacts: How to reach this organization
- Money network: 3 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 — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Sustainability: Operating margin scored 2/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Growth: Asset growth scored 0/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 28/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.