American Board Of Ophthalmology
- Assets
- $11.6m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 15
- Location
- Doylestown, PA
- Founding
- 02/1946
- Data as of
- 12/2023
- EIN
- 23-1693176
Organization Overview
American Board Of Ophthalmology is located in Doylestown, PA. The organization was established in 1946. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2023, American Board Of Ophthalmology employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Board Of Ophthalmology 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 12/2023, American Board Of Ophthalmology generated $5.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $5.5m during the year ending 12/2023. While expenses have increased by 1.2% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SERVE THE PUBLIC BY CERTIFYING OPHTHALMOLOGISTS THROUGH THE VERIFICATION OF COMPETENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BOARD CERTIFICATION: SINCE 1916, 33,703 OPHTHALMOLOGISTS HAVE VOLUNTARILY ELECTED TO MEET THE RIGOROUS CERTIFICATION STANDARDS ESTABLISHED BY THE AMERICAN BOARD OF OPHTHALMOLOGY. THE FIRST MEDICAL SPECIALTY BOARD FOUNDED IN THE UNITED STATES, THE AMERICAN BOARD OF OPHTHALMOLOGY AWARDS THE ONLY MEDICAL SPECIALTY CERTIFICATE IN OPHTHALMOLOGY RECOGNIZED BY BOTH THE AMERICAN BOARD OF MEDICAL SPECIALTIES (ABMS) AND THE AMERICAN MEDICAL ASSOCIATION (AMA). CERTIFICATION IS GRANTED TO OPHTHALMOLOGISTS WHO MEET A SERIES OF ACCREDITED MEDICAL TRAINING REQUIREMENTS IN OPHTHALMOLOGY; SIGN A PRACTICE PLEDGE INDICATING THEIR INTENT TO PRACTICE WITH COMPASSION, INTEGRITY, AND RESPECT FOR HUMAN DIGNITY; AND COMPLETE AN INTENSIVE EVALUATION PROCESS THAT INCLUDES BOTH A WRITTEN QUALIFYING EXAMINATION AND AN ORAL EXAMINATION. PHYSICIANS WHO MEET ALL OF THE REQUIREMENTS FOR INITIAL CERTIFICATION BECOME DIPLOMATES OF THE BOARD AND EARN A CERTIFICATE VALID FOR A PERIOD OF 10 YEARS. SINCE THE EARLY 1990S, ALL DIPLOMATES WHO ELECT TO RETAIN AN ACTIVE CERTIFICATE PARTICIPATE IN PERIODIC ASSESSMENTS OF KNOWLEDGE, JUDGMENT, AND SKILL IN ADDITION TO DEMONSTRATING A COMMITMENT TO PRACTICE IMPROVEMENT. THIS PROCESS HAS BEEN TERMED CONTINUING CERTIFICATION.SUCCESSFUL CANDIDATES ARE CERTIFIED BY THE AMERICAN BOARD OF OPHTHALMOLOGY FOR A PERIOD OF TEN YEARS. THE ABO ISSUED INITIAL CERTIFICATES TO 501 OPHTHALMOLOGISTS IN 2023.
CONTINUING CERTIFICATION EMBODIES THE PRINCIPLES OF CAREER-LONG LEARNING AND CONTINUOUS IMPROVEMENT FOR THE BENEFIT OF THE PUBLIC AND THE PROFESSION AND AIMS TO:1) ESTABLISH AND MAINTAIN HIGH STANDARDS FOR PATIENT CARE;2) PROVIDE PHYSICIANS WITH THE MEANS TO CONTINUALLY ASSESS AND IMPROVE THEIR ABILITY TO MEET THESE STANDARDS;3) ENSURE THAT PHYSICIANS ARE BEING ASSESSED BY RELIABLE AND VALID MEASURES TO CONTINUALLY IMPROVE PATIENT CARE.STANDARDS FOR HIGH-QUALITY OPHTHALMIC CARE ARE BASED ON SIX GENERAL COMPETENCIES: PATIENT CARE, MEDICAL KNOWLEDGE, PRACTICE-BASED LEARNING AND IMPROVEMENT, INTERPERSONAL AND COMMUNICATION SKILLS, PROFESSIONALISM, AND SYSTEMS-BASED PRACTICE. THE ABO, ALONG WITH OTHER SURGICAL CERTIFYING BOARDS, ALSO RECOGNIZES A SEVENTH COMPETENCY IN SURGICAL OR PROCEDURAL SKILLS.THE ABO'S CONTINUING CERTIFICATION PROCESS IS THE ONLY ONE FOR EYE CARE SPECIALISTS THAT IS RECOGNIZED BY THE AMERICAN BOARD OF MEDICAL SPECIALTIES. THE ABO RECERTIFIED 1,062 OPHTHALMOLOGISTS IN 2023.
CERTIFICATION OF BOARD CERTIFICATION STATUS: THE ABO PROVIDES PRIMARY SOURCE VERIFICATION OF BOARD CERTIFICATION TO THE PUBLIC, CREDENTIALING ORGANIZATIONS, AND OTHER INTERESTED ENTITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann A Acers-Warn MD Board Director | Trustee | 4 | $9,000 |
Chris V Albanis MD Board Director | Trustee | 4 | $9,000 |
Esther M Bowie MD Board Director | Trustee | 4 | $9,000 |
K David Epley MD Board Director | Trustee | 4 | $9,000 |
Julie M Falardeau MD Board Director | Trustee | 4 | $9,000 |
Tamara R Fountain MD Board Director | Trustee | 4 | $9,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mayo Clinic Ceo Salary And Benefits | 12/30/23 | $894,657 |
American Board Of Medical Specialties Membership Dues; Participation In Specia | 12/30/23 | $194,719 |
American Academy Of Ophthalmology Continuing Medical Education Credits For | 12/30/23 | $130,074 |
Ncs Pearson Inc Test Centers/exam Services | 12/30/23 | $107,918 |
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 | $5,393,838 |
| Investment income | $320,909 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$77,001 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,637,746 |
| 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. | $1,213,311 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,643,406 |
| Pension plan accruals and contributions | $251,969 |
| Other employee benefits | $117,249 |
| Payroll taxes | $125,263 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,120 |
| Fees for services: Accounting | $36,067 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,999 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $68,333 |
| Information technology | $76,736 |
| Royalties | $0 |
| Occupancy | $39,082 |
| Travel | $5,076 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $256,422 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,220 |
| Insurance | $81,068 |
| All other expenses | $0 |
| Total functional expenses | $5,512,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $931,212 |
| Savings and temporary cash investments | $8,525 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $88,863 |
| 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 | $53,333 |
| Net Land, buildings, and equipment | $13,780 |
| Investments—publicly traded securities | $10,545,131 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,640,844 |
| Accounts payable and accrued expenses | $112,061 |
| Grants payable | $0 |
| Deferred revenue | $1,121,230 |
| 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 | $1,233,291 |
| Net assets without donor restrictions | $10,407,553 |
| 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 | $11,640,844 |