The Orthopaedic Learning Center
- Assets
- $10.6m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Rosemont, IL
- Founding
- 12/1996
- Data as of
- 12/2022
- EIN
- 36-3999836
Organization Overview
The Orthopaedic Learning Center, operating under the name Olc Education & Conference Center, is located in Rosemont, IL. The organization was established in 1996. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olc Education & Conference Center is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Olc Education & Conference Center generated $3.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $4.1m during the year ending 12/2022. While expenses have increased by 0.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING MEDICAL LAB EQUIPMENT, FACILITIES, AND EDUCATIONAL SEMINARS TO LEARNING PHYSICIANS AND STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SURGICAL SKILLS COURSES - THE ORGANIZATION PROVIDES FACILITIES FOR COURSES RELATING TO ARTHROSCOPIC AND ORTHOPAEDIC SURGICAL SKILLS, DIAGNOSIS, TREATMENT AND FOLLOWUP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felix H Savoie MD President | OfficerTrustee | 7.5 | $0 |
Kevin J Bozic MD First Vice-President | OfficerTrustee | 5 | $0 |
Paul Tornetta III MD Second Vice-President | OfficerTrustee | 5 | $0 |
Daniel K Guy MD Past President | OfficerTrustee | 2.5 | $0 |
Michael L Parks MD Treasurer | OfficerTrustee | 1.5 | $0 |
Claudette M Lajam MD Boc Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $200,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $200,500 |
| Total Program Service Revenue | $3,690,793 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,492 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,878,801 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $303,031 |
| Compensation of current officers, directors, key employees. | $72,727 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $422,405 |
| Pension plan accruals and contributions | $44,141 |
| Other employee benefits | $58,836 |
| Payroll taxes | $46,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,268 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $476,286 |
| Advertising and promotion | $99,101 |
| Office expenses | $243,433 |
| Information technology | $77,000 |
| Royalties | $0 |
| Occupancy | $1,217,833 |
| Travel | $47,883 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,678 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $229,145 |
| Insurance | $26,329 |
| All other expenses | $22,358 |
| Total functional expenses | $4,088,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,477,651 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $611,066 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $104,601 |
| Net Land, buildings, and equipment | $554,212 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,827,066 |
| Total assets | $10,574,596 |
| Accounts payable and accrued expenses | $110,686 |
| Grants payable | $0 |
| Deferred revenue | $158,939 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,830,084 |
| Total liabilities | $3,099,709 |
| Net assets without donor restrictions | $7,474,887 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,574,596 |