American Board Of Thoracic Surgery Inc
- Assets
- $24.5m
- Revenue
- $2.5m
- Investments
- $1.2m
- Employees
- 6
- Location
- Chicago, IL
- Founding
- 01/1997
- Data as of
- 12/2021
- EIN
- 36-4111028
Organization Overview
American Board Of Thoracic Surgery Inc is located in Chicago, IL. The organization was established in 1997. According to its NTEE Classification (G03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2021, American Board Of Thoracic Surgery Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Board Of Thoracic Surgery Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, American Board Of Thoracic Surgery Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $2.2m during the year ending 12/2021. While expenses have increased by 1.9% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION DETERMINES AND MAINTAINS STANDARDS FOR CERTIFICATION IN THORACIC SURGERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CERTIFICATION - SINCE 1948, THE AMERICAN BOARD OF THORACIC SURGERY HAS PROTECTED THE PUBLIC BY ESTABLISHING AND MAINTAINING HIGH STANDARDS IN THORACIC SURGERY. TO ACHIEVE THESE OBJECTIVES, THE BOARD HAS ESTABLISHED QUALIFICATIONS FOR EXAMINATIONS AND PROCEDURES FOR CERTIFICATION. TO DATE, THE AMERICAN BOARD OF THORACIC SURGERY HAS CERTIFIED OVER 9,000 THORACIC SURGEONS.
MAINTENENCE OF CERTIFICATION - SINCE 1976, THE AMERICAN BOARD OF THORACIC SURGERY HAS REQUIRED ITS DIPLOMATES TO COMPLETE A RECERTIFICATION PROGRAM EVERY 10 YEARS. STARTING IN 2008, THE AMERICAN BOARD OF THORACIC SURGERY CHANGED ITS RECERTIFICATION PROGRAM INTO A MAINTENANCE OF CERTIFICATION PROCESS. DIPLOMATES MUST NOW DEMONSTRATE EVERY FIVE YEARS THAT THEY MEET STANDARDS IN PROFESSIONALISM, LIFE-LONG LEARNING AND SELF-ASSESSMENT, COGNITIVE EXPERTISE AND PERFORMANCE IN PRACTICE.
CONGENITAL CARDIAC SURGERY SUBSPECIALTY CERTIFICATION - SINCE 2009, THE AMERICAN BOARD OF THORACIC SURGERY HAS OFFERED A SUBSPECIALTY CERTIFICATE IN CONGENITAL CARDIAC SURGERY. TO BE ELIGIBLE FOR THIS CERTIFICATE, DIPLOMATES MUST EITHER COMPLETE A CONGENITAL CARDIAC FELLOWSHIP OR PROVIDE DOCUMENTATION ON THEIR TRAINING, CURRENT CLINICAL EXPERIENCE AND PROFESSIONAL ACCOMPLISHMENT IN THE FIELD OF CONGENITAL CARDIAC SURGERY. TO DATE, THE AMERICAN BOARD OF THORACIC SURGERY HAS ISSUED OVER 250 CERTIFICATES IN CONGENITAL CARDIAC SURGERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David A Fullerton MD Executive Director | Officer | 30 | $283,881 |
Patricia L Watson Administrative Director | 40 | $198,242 | |
Alisha Gardner Medical Content Editor | 40 | $109,027 | |
Jennifer Hausman Director Of Examination Services | 40 | $103,911 | |
Yolonda L Colson Examination Chair | OfficerTrustee | 10 | $0 |
Stephen C Yang MD Deputy Exam Chair/exam Chair | OfficerTrustee | 10 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,218,500 |
| Investment income | $0 |
| 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 | $299,000 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,529,487 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $300,000 |
| 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. | $304,637 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $559,267 |
| Pension plan accruals and contributions | $35,554 |
| Other employee benefits | $73,394 |
| Payroll taxes | $51,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,679 |
| Fees for services: Accounting | $14,841 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,426 |
| Fees for services: Other | $75,046 |
| Advertising and promotion | $0 |
| Office expenses | $27,759 |
| Information technology | $140,322 |
| Royalties | $0 |
| Occupancy | $73,738 |
| Travel | $33,696 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $130,010 |
| All other expenses | $0 |
| Total functional expenses | $2,190,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $483,626 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,077 |
| 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 | $22,768,817 |
| Investments—other securities | $1,232,269 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,489,789 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $715,485 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $23,774,304 |
| Total liabilities and net assets/fund balances | $24,489,789 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that American Board Of Thoracic Surgery Inc has recieved totaling $900.
| Awarding Organization | Amount |
|---|---|
The Hochberg Foundation Inc Fairfield, NJ PURPOSE: SUSTAINING CONTRIBUTION | $300 |
The Hochberg Foundation Inc Fairfield, NJ PURPOSE: SUSTAINING CONTRIBUTION | $300 |
The Hochberg Foundation Inc Fairfield, NJ PURPOSE: SUSTAINING CONTRIBUTION | $300 |
Endowment Analysis
| Beg. Balance | $17,705,634 |
| Earnings | $3,605,189 |
| Admin Expense | $56,960 |
| Net Contributions | $976,303 |
| Ending Balance | $22,230,166 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Parents As Teachers National Center Inc St Louis, MO | $23,159,778 | $18,168,928 |
American Academy Of Sleep Medicine Darien, IL | $108,922,365 | $16,695,981 |
American Society For Surgery Of The Hand Chicago, IL | $41,276,599 | $13,160,683 |
American Association Of Neurosurgeons Inc Rolling Meadows, IL | $41,529,336 | $10,342,533 |
Society Of Surgical Oncology Inc Rosemont, IL | $13,679,092 | $7,112,657 |
American Society Of Neuroradiology Oak Brook, IL | $16,352,538 | $4,175,596 |
American Association Of Neurological Surgeons Inc Rolling Meadows, IL | $10,516,824 | $3,805,612 |
American Board Of Thoracic Surgery Inc Chicago, IL | $24,489,789 | $2,529,487 |
Osler Institute Terre Haute, IN | $19,048,108 | $2,627,815 |
The American College Of Psychiatrists Inc Chicago, IL | $9,840,990 | $2,254,996 |
Coalition Of State Rheumatology Organizations Inc Milwaukee, WI | $2,190,971 | $2,048,288 |
International Gynecologic Cancer Society Inc Louisville, KY | $2,240,690 | $1,297,279 |