2008 Annual Report

20th Anniversary AN INTERNATIONAL CENTER FOR RESEARCH AND EDUCAtion — keeping people ACTIVE MISSION The Foundation is dedicated to keeping people of all ages physically active through orthopaedic research and education in the areas of arthritis, healing, rehabilitation, and injury. HISTORY: Founded in 1988 by orthopaedic surgeon Dr. J. Richard Steadman, the Foundation is an independent, tax-exempt (IRS code 501(c)(3)) charitable organization. Known throughout the world for its research into the causes, prevention and treatment of orthopaedic disorders, the Foundation is committed to solving orthopaedic problems that limit an individual’s ability to maintain an active life. CONTENTS The Foundation wishes to express deep appreciation to John P. Kelly, who donated many of the stock photos in this year’s Annual Report and contributed 2 The Year in Review his time to photograph the many Foundation and operating room subjects. 4 Governing Boards John Kelly first picked up a camera while serving as infantry lieutenant In 6 Scientific Advisory Committee the Air Cavalry in Vietnam. He quickly developed a love for photography that he took home with him to Colorado. By combining his new craft with his passion for 12 Friends of the Foundation sports and adventure, Kelly created a successful career. 26 Corporate and Institutional Friends His diverse photo assignments have taken him from Wimbledon to trekking 28 Research and Education the Himalayas, the Winter Olympics to sailing the Caribbean. He was the official 30 Basic Science Research photographer for the US Open Golf Championships for 10 years, and the only American amongst the official photographers at the Lillehammer Winter Olympic 32 Clinical Research Games. When Robert Redford needed the defining shot to promote his film “A 44 Biomechanics Research Laboratory River Runs Through It,” he called on Kelly. Subsequently, he also provided the still 54 Imaging Research photography for Redford’s “The Horse Whisperer.” 59 Education Although he has traveled all over the world, many of his favorite photo shoots have taken place at his beloved End of the Road Ranch in Western 63 Presentations and Publications Colorado, where clients such as Polo/Ralph Lauren have come to work and play 75 In the Media with Kelly and his friends and animals. 76 Recognition 79 Associates 83 Financial Statements he Foundation has influenced the practice of orthopaedics — from diagnosis to rehabilitation. Recognizing that the body’s Tinnate healing powers can be harnessed and manipulated to improve the natural healing process has led to exciting advances in surgical techniques that are used today by orthopaedists in many practices. The microfracture technique, for example, is now accepted as a treatment to enhance articular cartilage healing that may make it possible to postpone or even eliminate the need for joint replacement surgery. It has been independently estimated that more than one million patients have now been treated with microfracture to repair chondral defects. Today, the Foundation is recognized worldwide for pioneering research of new arthroscopic procedures to treat femoral impingement in the hip and rotator cuff injuries in the shoulder. The Foundation collects data and publishes clinical research results on knees, hips, shoulders, and spine, and it has become the most published and one of the most innovative organizations in sports medicine research and education. The Foundation publishes its findings in relevant scientific and medical journals and presents its research results at medical meetings worldwide. Philanthropic gifts are used to advance scientific research and to support scholarly academic programs that train physicians for the future. As a result of its Fellowship Program, the Foundation now has a global network of more than 173 Fellows and associates who have put the advanced concepts they learned in their fellowships to good use in their orthopaedic practices. Our focus is on improvement of function and quality of life. Future research will target predictors of disability caused by arthritis, predictors of successful surgery, predictors of patient satisfaction, patient expectation of treatment, and patient outcomes following surgery. THE FOUNDATION’S PRIMARY AREAS OF RESEARCH AND EDUCATION ARE: • Basic science ReseaRch – undertakes biological studies to investigate the causes and effects of degenerative arthritis, techniques of cartilage regeneration, and basic biological healing processes. • Clinical ReseaRch – conducts evidence-based medicine “outcomes” research based on actual clinical data that aids both physicians and patients in making better-informed treatment decisions. • Biomechanics ReseaRch laBoRatoRy – studies dynamic joint function using motion analysis, computer modeling and dual-plane fluoroscopy imaging in an effort to understand injury mechanisms and to enhance rehabilitation techniques and outcomes. • Imaging ReseaRch – develops and evaluates noninvasive imaging techniques of the joints for the purpose of directing and monitoring clinical treatment and outcomes and to enhance the clinical relevance of Biomechanics Research. • Education and Fellowship ProgRam – administers and coordinates the physicians-in-residence fellowship training program, hosts conferences and international medical meetings, and produces and distributes publications and teaching visual media. SINCE ITS INCEPTION, THE FOUNDATION HAS HELPED PEOPLE oF ALL AGES REMAIN PHYSICALLY ACTIVe THROUGH oRTHOPAEDIC RESEARCH AND EDUCATION. THE FOUNDATION CONTINUES TO PURSUE ITS GOALS oF: • Understanding, enlisting, and enhancing the body’s innate ability to heal. • Designing and validating surgical and rehabilitation techniques, as well as nonoperative management for osteoarthritis. • Producing and publishing scientifically validated research in leading medical and scientific journals. 1 THE YEAR IN REVIEW DEAR FRIENDS, e want to thank you all personally for your tremendous, record-setting support in 2008. We’ve been overwhelmed by the generosity of our donors, especially in light of difficult economic times. We finished 18 percent higher in contribu- wtions from all sources in 2008 than in 2007 and 36 percent ahead of contributions in 2006. Between 2006 and 2008, we have leveraged this strong support with sound management practices and greater efficiencies to reduce the Foundation’s overhead rate by 11 percent. Your contributions have allowed us to continue our mission, grow our science and education programs by recruiting inter- nationally recognized researchers, scientists, physicians, and business people; add a fourth area of science; and increase the number of visiting scholars. The bottom line is that we are positioned for our very bright future and we’re being more efficient in the management of the Foundation than ever before. What does that mean to you? It means that for every dollar received from donors, 68 cents goes directly to research. Other medical research programs have significantly higher overhead costs. In fact, in most competitive research programs less than 50 cents of every dollar goes directly to research — the majority goes to overhead. Our goal for the Foundation is to have the highest percentage of money spent directly on research of any orthopaedic program, whether independent or university-based. Through your continued support, we have made several organizational improvements during the past 24 months. We are very pleased with the financial management and controls that Marc Prisant, our Executive Vice President and Chief Financial Officer, has implemented in the Foundation (see page 84). We have made structural changes and employed new policies and procedures in all departments. We have also established the position of Chief Scientific Officer. All of this has been implemented to prepare us for continued excellence as we carry out our mission. We are pleased that the Clinic has addressed its succession by naming Dr. Marc Philippon as managing partner with Dr. Steadman. We are fortunate that Dr. Philippon has chosen to practice and conduct his research here. Our international reputation has grown since his arrival. Additionally, the Clinic successfully recruited Dr. Thomas Clanton (see page 3), a world-renowned foot and ankle surgeon, to Vail. Dr. Clanton is known for his academic research and speaks all over the world about his findings in foot and ankle. We will soon begin collecting clinical data on all of Dr. Clanton’s patients. In 2008, the Foundation set records for publications and presentations, but we are not just about grading ourselves with numbers. The reason for the increase was that, in addition to collecting and reporting on data for knees and shoulders, your contributions have allowed us to develop databases to collect data on every hip the last four years and every spine the last two years. We are now in a position to look retrospectively at our data and report our observations to our peers worldwide. For example, Dr. Marc Philippon published a landmark study on two-year hip arthroscopy outcomes in the prestigious British edition of the Journal of Bone and Joint Surgery (see page 37). Dr. Philippon and our clinical research group, led by Karen Briggs, M.B.A., M.P.H., are literally teaching the world about advancements and outcomes in hip surgery and rehabilitation. The Foundation has also initiated an important study in Basic Science to determine whether adding an adult’s own bone marrow stem cells to the microfracture procedure can improve cartilage regeneration

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