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Nonprofit · EIN 87-2591102

FOUNDATION FOR PHYSICIAN ADVANCEMENT

Tax-exempt · CORNELIUS, NC 28031

Financials

$376K$357K2023$413K$356K2024$271K$284K2025
Revenue Expenses · by fiscal year end
Financials of FOUNDATION FOR PHYSICIAN ADVANCEMENT by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990$271,215$284,464-$13,249$114,176$286$113,890
December 31, 2024990$413,389$356,102$57,287$155,187$28,048$127,139
December 31, 2023990$375,823$356,952$18,871$101,449$31,597$69,852
Financial details: 990 for the year ended December 31, 2025

Revenue

Contributions, gifts and grants
$0
Program service revenue
$271,205
Investment income
$10
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$32,000
Salaries, compensation and benefits (total)
$32,000
Professional fundraising fees
$0
Accounting fees
$14,621
Travel
$56,639
Program services (functional)
$238,163
Management and general (functional)
$46,301

Balance sheet and other

Total assets, start of year
$155,187
Total assets, end of year
$114,176
Total liabilities, end of year
$286
Net assets, end of year
$113,890
Net assets without donor restrictions
$113,890
Gross receipts
$271,215
Employees
0
Volunteers
12
Year formed
2021
State of legal domicile
WY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
MARNEY REIDEXECUTIVE DIRECTOR
Officer
25$32,000
AUGUSTUS RUSH III MDDIRECTOR
Trustee or director
1$0
BRIAN CULP MDDIRECTOR
Trustee or director
1$0
CARL HERNDON MDCHAIR
Trustee or director, Officer
2$0
DANA JACOBYDIRECTOR
Trustee or director
1$0
EMILY ASTDIRECTOR
Trustee or director
1$0
JOSHUA ROZELL MDTREASURER
Trustee or director, Officer
2$0
MICHAEL AST MDDIRECTOR
Trustee or director
1$0
MICHAEL BOLOGNESI MDDIRECTOR
Trustee or director
1$0
NEIL BADLANI MDVICE CHAIR
Trustee or director, Officer
2$0
RICHARD YOON MDDIRECTOR
Trustee or director
1$0
RYAN NUNLEYDIRECTOR
Trustee or director
1$0
STEPHANE OWUSU-SARPONG MDSECRETARY
Trustee or director, Officer
2$0
990 for the year ended December 31, 2024: 12 people
NameTitleHours / weekCompensation
KATE LEE SMITHEXECUTIVE DIRECTOR
Officer
25$87,620
MARNEY REIDASSISTANT TREASURER
Trustee or director, Officer
2$5,000
ELIZABETH LIEBERMANDIRECTOR
Trustee or director
1$4,100
BRYAN SPRINGERVICE CHAIR
Trustee or director, Officer
2$0
RYAN NUNLEYSECRETARY
Trustee or director, Officer
2$0
BRIAN CULPCHAIR
Trustee or director, Officer
2$0
RICHARD YOONTREASURER
Trustee or director, Officer
2$0
CARL HERNDONDIRECTOR
Trustee or director
1$0
MICHAEL P BOLOGNESIDIRECTOR
Trustee or director
1$0
NEIL BADLANIDIRECTOR
Trustee or director
1$0
MICHAEL ASTDIRECTOR
Trustee or director
1$0
EMILY ASTDIRECTOR
Trustee or director
1$0
990 for the year ended December 31, 2023: 10 people
NameTitleHours / weekCompensation
MARNEY REIDEXECUTIVE DIRECTOR
Trustee or director, Officer
25$82,500
NEIL BADLANIMEMBER
Trustee or director
0$10,000
ANTONIA CHENMEMBER
Trustee or director
0$0
BRIAN CULPCOO
Trustee or director, Officer
0$0
BRYAN SPRINGERCIO
Trustee or director, Officer
0$0
MICHAEL ASTPRESIDENT
Trustee or director, Officer
1$0
MICHAEL BOLOGNESIMEMBER
Trustee or director
0$0
NEIL SHETHMEMBER
Trustee or director
0$0
RICHARD YOONMEMBER
Trustee or director
0$0
RYAN NUNLEYCFO
Trustee or director, Officer
0$0

Address and contacts

Address (IRS master file)
20523 HARBOR VIEW DR, CORNELIUS, NC 28031-7078
In care of
% BRIAN CULP
Principal officer (990 for 2025)
CARL HERNDON MD, 20523 HARBOR VIEW DRIVE, CORNELIUS, NC 28031
Signed the 990
CARL HERNDON MD, CHAIR
Phone
(704) 493-6810
Return prepared by
MATTHEWS CUTRER & LINDSAY PA

Mission

THE FOUNDATION FOCUSES ON BUILDING CRITICAL KNOWLEDGE AND LEADERSHIP SKILLS FOR EARLY CAREER SURGEONS TO BETTER ADVOCATE FOR THEMSELVES AND THEIR PATIENTS.

990 for the year ended December 31, 2025

Program accomplishments

  • THE FOUNDATION FOR PHYSICIAN ADVANCEMENT CONDUCTED SIX MEDICAL EDUCATION EVENTS ATTENDED BY 245 SURGEONS AND INDUSTRY PROFESSIONALS. THESE EVENTS PROVIDED CRITICAL EDUCATION FOR EARLY CAREER SURGEONS THROUGH SHORT DIDACTIC SESSIONS, PANEL DISCUSSIONS FROM SURGEON AND INDUSTRY PROFESSIONALS ACROSS THE USA, NETWORKING OPPORTUNITIES, AND BREAKOUT SESSIONS.
    Expenses $238,163 · revenue $271,205

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990 on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
87-2591102
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2022
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Health care (E03)
Assets (IRS master file)
$114,176
Income (IRS master file)
$271,215

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2025$271,215$284,464$114,176XML
990December 2024$413,389$356,102$155,187IRS
990December 2023$375,823$356,952$101,449XML
990December 2022$216,099$157,660$59,424IRS
990-EZDecember 2021–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 87-2591102).

Questions about FOUNDATION FOR PHYSICIAN ADVANCEMENT

What is the EIN of FOUNDATION FOR PHYSICIAN ADVANCEMENT?
The employer identification number (EIN) of FOUNDATION FOR PHYSICIAN ADVANCEMENT is 87-2591102.
Is FOUNDATION FOR PHYSICIAN ADVANCEMENT tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
Are donations to FOUNDATION FOR PHYSICIAN ADVANCEMENT tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does FOUNDATION FOR PHYSICIAN ADVANCEMENT file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of FOUNDATION FOR PHYSICIAN ADVANCEMENT due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did FOUNDATION FOR PHYSICIAN ADVANCEMENT last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2025.
Who is the principal officer of FOUNDATION FOR PHYSICIAN ADVANCEMENT?
The 990 for the year ended December 31, 2025 names CARL HERNDON MD.
Who are the officers and directors of FOUNDATION FOR PHYSICIAN ADVANCEMENT?
The 990 for the year ended December 31, 2025 lists 13 people; 1 received compensation from the organization, the highest $32,000 (MARNEY REID, EXECUTIVE DIRECTOR).
How much revenue does FOUNDATION FOR PHYSICIAN ADVANCEMENT have?
On its 990 for the year ended December 31, 2025 it reported revenue of $271,215, expenses of $284,464 and total assets of $114,176 at year end.

Other nonprofits in CORNELIUS

All nonprofits in CORNELIUS · North Carolina · Health care