Federation Of State Medical Boards Research & Education Foundation
- Assets
- $4.6m
- Revenue
- $69.4k
- Investments
- $1.9m
- Employees
- 0
- Location
- Euless, TX
- Founding
- 11/1980
- Data as of
- 04/2022
- EIN
- 36-3071272
Organization Overview
Federation Of State Medical Boards Research & Education Foundation, operating under the name Fsmb Foundation, is located in Euless, TX. The organization was established in 1980. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, 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. Fsmb Foundation 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 04/2022, Fsmb Foundation generated $69.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $55.3k during the year ending 04/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Fsmb Foundation has awarded 13 individual grants totaling $214,899. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND PROMOTE RESEARCH AND EDUCATION INITIATIVES THAT STRENGTHEN THE SAFETY AND QUALITY OF HEALTH CARE THROUGH EFFECTIVE MEDICAL REGULATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDED FUNDING TO STATE MEDICAL BOARDS AND OTHER ORGANIZATIONS THAT ARE CONDUCTING RESEARCH, DEVELOPING EDUCATIONAL MATERIALS AND INCREASING AWARENESS ABOUT TOPICS OF IMPORTANCE TO MEDICAL REGULATORS. THE LATEST EXAMPLE OF FOUNDATION GRANTS INCLUDE A GRANT TO THE ASSOCIATED MEDICAL SCHOOLS OF NEW YORK (AMSNY) IN THE AMOUNT OF $25,000 FOR NEW YORK'S PATHWAY TO EARLY GRADUATION AND LICENSURE DURING COVID19.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Humayun J Chaudhry DO Secretary | OfficerTrustee | 3 | $0 |
Ralph C Loomis MD Treasurer | OfficerTrustee | 10 | $0 |
Janelle A Rhyne MD President | OfficerTrustee | 10 | $0 |
Patricia A King MD PHD Vice President | OfficerTrustee | 10 | $0 |
Todd Phillips CFO | Officer | 0 | $0 |
Cheryl Walker-Mcgill MD MBA Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,867 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,867 |
| Total Program Service Revenue | $0 |
| Investment income | $37,580 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $69,447 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,348 |
| Advertising and promotion | $0 |
| Office expenses | $1,743 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,347 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,842 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $55,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,600 |
| Savings and temporary cash investments | $53,389 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $640 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,600,378 |
| Investments—other securities | $1,881,152 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,277 |
| Total assets | $4,557,436 |
| Accounts payable and accrued expenses | $7,461 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $7,461 |
| Net assets without donor restrictions | $4,549,975 |
| 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 | $4,557,436 |
Grants Awarded
Over the last fiscal year, Federation Of State Medical Boards Research & Education Foundation has awarded $94,907 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Columbus, OH PURPOSE: NEEDS OF HEALTHCARE PROFESSIONALS IN OHIO DUE TO COVID-19 | $25,000 |
Scottsdale, AZ PURPOSE: IMPROVING HEALTH EQUITY VIA TELEMEDICINE | $25,000 |
Oakland, CA PURPOSE: IMPACT OF AUDIO-ONLY TELEPHONE IN DELIVERING HEALTH SERVICES DURING COVID-19 | $24,907 |
Louisville, KY PURPOSE: PROVIDE CME FOCUSED ON ACCESS TO TREATMENT, CHANGES TO TREATMENT AND THE INCREASE IN MISUSE/ABUSE OF DRUGS DURING COVID-19. | $10,000 |
WASHINGTON MEDICAL COMMISSION PURPOSE: PROVIDE CME FOCUSED ON EMERGING ISSUES OF HEALTHCARE AND REGULATION IN THE STATE OF WASHINGTON. | $10,000 |
Endowment Analysis
| Beg. Balance | $3,512,170 |
| Earnings | -$178,989 |
| Ending Balance | $3,333,181 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Teaching Trust Dallas, TX | $0 | $1,277,048 |
Oklahoma Education Association Oklahoma City, OK | $8,207,045 | $7,151,066 |
Texas Classroom Teachers Association Austin, TX | $18,131,963 | $5,396,688 |
National Diversity Council Houston, TX | $4,256,858 | $6,138,107 |
American Case Management Association Little Rock, AR | $1,766,697 | $2,995,171 |
Texas Computer Education Association Austin, TX | $6,144,235 | $4,520,658 |
Jefferson Federation Of Teachers Health And Welfare Fund Metairie, LA | $2,212,673 | $3,830,342 |
Texas Pioneer Foundation Texarkana, TX | $58,953,395 | $3,411,006 |
National Education Association Of New Mexico Inc Santa Fe, NM | $5,499,910 | $3,405,604 |
Association Of Professional Oklahoma Educators Norman, OK | $3,652,694 | $2,884,225 |
Literacy Coalition Of Central Texas Austin, TX | $629,691 | $2,233,643 |
Louisiana Association Of Educators Baton Rouge, LA | $3,465,257 | $3,286,362 |