American Board Of Medical Specialties

Organization Overview

American Board Of Medical Specialties is located in Chicago, IL. The organization was established in 1964. According to its NTEE Classification (E03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Health Care and related organizations. As of 12/2021, American Board Of Medical Specialties employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Board Of Medical Specialties 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 Medical Specialties generated $22.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $17.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE AMERICAN BOARD OF MEDICAL SPECIALTIES (ABMS) IS TO SERVE (CONTINUED IN SCH O) THE PUBLIC AND THE MEDICAL PROFESSION BY IMPROVING THE QUALITY OF HEALTH CARE THROUGH SETTING PROFESSIONAL STANDARDS FOR LIFELONG CERTIFICATION IN PARTNERSHIP WITH ITS MEMBER BOARDS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN PARTNERSHIP WITH ITS MEMBER BOARDS, ABMS IS A LEADER IN SETTING RIGOROUS STANDARDS FOR BOARD CERTIFICATION ACROSS 40 MEDICAL SPECIALTIES AND 88 MEDICAL SUBSPECIALTIES. WHILE MEMBER BOARDS TAILOR THESE STANDARDS TO THEIR SPECIFIC SPECIALTIES AND SUBSPECIALTIES, ABMS SUPPORTS THE MEMBER BOARDS IN THE OVERALL IMPLEMENTATION OF THE STANDARDS BY PROVIDING LEARNING OPPORTUNITIES AND RESOURCES REGARDING EVALUATION, ASSESSMENT AND POLICY DEVELOPMENT RELATIVE TO CERTIFICATION. THESE SUPPORTS ARE CRITICAL TO THE ABMS COMMUNITY. AT PRESENT, IN THE UNITED STATES, ABMS MEMBER BOARDS HAVE CERTIFIED MORE THAN 920,000 PHYSICIANS.


INTERNATIONALLY, ABMS CONTRACTS WITH THE SINGAPORE MINISTRY OF HEALTH TO DEVELOP AND MAINTAIN A PROGRAM OF PHYSICIAN ASSESSMENT AND CERTIFICATION FOR SINGAPORE'S MEDICAL SPECIALISTS, AS WELL AS CONSULTS WITH OTHER COUNTRIES AND COMMUNITIES ACROSS THE WORLD SEEKING TO EXPLORE OR ESTABLISH PHYSICIAN CERTIFICATION PROGRAMS.


ABMS CONVENES LEADERS AND STAKEHOLDERS FROM ACROSS THE ABMS AND GREATER HEALTH CARE COMMUNITIES TO DISCUSS CURRENT AND EMERGING ISSUES IN TODAY'S HEALTH CARE SYSTEM, SEEKING TO UNDERSTAND WAYS IN WHICH ABMS AND ITS MEMBER BOARDS CAN ADDRESS THOSE ISSUES TO IMPROVE THE QUALITY OF PATIENT CARE.


IN TERMS OF ADVOCACY, ABMS COMMUNICATES INFORMATION ABOUT AND EMPHASIZES THE IMPORTANCE OF BOARD CERTIFICATION TO DIPLOMATES, MEDICAL PROFESSIONALS, HEALTH CARE ORGANIZATIONS, INSURERS, LEGISLATORS AND THE GENERAL PUBLIC. THESE COMMUNICATIONS PROVIDE THESE STAKEHOLDERS AND ADVOCATES WITH FACTUAL INFORMATION ABOUT THE IMPORTANCE OF BOARD CERTIFICATION AND THE MARKER OF TRUST SIGNIFIED BY THE CREDENTIAL. CERTIFICATIONMATTERS.ORG, WHICH IS A PUBLIC ACCESS ABMS WEBSITE, ALSO PROVIDES INFORMATION ABOUT BOARD CERTIFICATION. ANY INDIVIDUAL MAY ACCESS THIS SITE TO DETERMINE IF A PHYSICIAN IS BOARD CERTIFIED BY AN ABMS MEMBER BOARD. IN TERMS OF RESEARCH AND PROFESSIONAL DEVELOPMENT, ABMS AND ITS MEMBER BOARDS ACTIVELY STUDY AND SUPPORT RESEARCH INTO THE IMPACT THAT CERTIFICATION PROGRAMS HAVE ON BOTH THE PROFESSION OF MEDICINE AS WELL AS IMPROVING PATIENT SAFETY AND HEALTH CARE. ABMS IS ALSO COMMITTED TO PHYSICIAN PROFESSIONAL DEVELOPMENT AS PART OF ITS MEMBER BOARDS' CONTINUING CERTIFICATION PROGRAMS, INCLUDING CONTINUING MEDICAL EDUCATION AND QUALITY AND PRACTICE IMPROVEMENT ACTIVITIES.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ncs Pearson Inc
Test Administration
$877,352
Grant Thornton Llp
Audit And Tax Service
$155,781
Figmd Inc
Test Administration
$168,241
Internet Testing Systems Llc
Test Administration
$607,890
Arentfox Schiff Hardin
Legal Services
$119,216
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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$4,680
Noncash contributions included in lines 1a–1f $4,680
Total Revenue from Contributions, Gifts, Grants & Similar$4,680
Total Program Service Revenue$21,316,751
Investment income $948,872
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 $22,297,576

Grants Recieved

Over the last fiscal year, we have identified 1 grants that American Board Of Medical Specialties has recieved totaling $75,000.

Awarding OrganizationAmount
Gordon E And Betty I Moore Foundation

Palo Alto, CA

PURPOSE: TO SUPPORT SIX EARLY-CAREER VISITING SCHOLARS IN THREE ANNUAL COHORTS TO CONDUCT RESEARCH ON IMPROVING CLINICIAN DIAGNOSTIC PERFORMANCE WITH THE AMERICAN BOARD OF MEDICAL SPECIALTIES.

$75,000
View Grant Recipient Profile

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