Federation Of State Medical Boards Research & Education Foundation
- Assets
- $4.3m
- Revenue
- $106.3k
- Investments
- $1.8m
- Employees
- 0
- Location
- Euless, TX
- Founding
- 11/1980
- Data as of
- 04/2023
- 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 04/2023, Fsmb Foundation generated $106.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 29.0% each year . All expenses for the organization totaled $151.8k during the year ending 04/2023. While expenses have increased by 12.4% per year over the past 8 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.
Since 2017, Fsmb Foundation has awarded 17 individual grants totaling $279,899. 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
2023
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 EXAMPLES OF FOUNDATION GRANTS INCLUDE A GRANT TO THE ACCREDITATION COUNCIL FOR CONTINUING MEDICAL EDUCATION (ACCME). THE FOUNDATION PROVIDED $25,000 TO ACCME FOR THEIR PROJECT AIMED AT COORDINATING AND HARMONIZING THE MANDATORY OPIOID AND PAIN MANAGEMENT EDUCATION REQUIREMENTS ACROSS STATE MEDICAL BOARDS. ANOTHER GRANT WAS GIVEN TO THE NORTH CAROLINA MEDICAL BOARD. THE FOUNDATION PROVIDED A $20,000 GRANT TO THE NC MEDICAL BOARD FOR THEIR STUDY ON PHYSICIAN ASSISTANT DISCIPLINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Humayun J Chaudhry DO Secretary | OfficerTrustee | 3 | $0 |
Janelle A Rhyne MD President | OfficerTrustee | 10 | $0 |
Ralph C Loomis MD Treasurer | OfficerTrustee | 10 | $0 |
Patricia A King MD PHD Vice President | OfficerTrustee | 10 | $0 |
Cheryl Walker-Mcgill MD MBA Director | Trustee | 2 | $0 |
Kathleen Haley JD 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 | $36,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,300 |
| Total Program Service Revenue | $0 |
| Investment income | $52,743 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,294 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $106,337 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,000 |
| 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 | $21,084 |
| Fees for services: Other | $3,071 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $28,038 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $34,580 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $151,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,556 |
| Savings and temporary cash investments | $45,531 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,400 |
| 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 | $2,437,612 |
| Investments—other securities | $1,764,224 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,100 |
| Total assets | $4,294,423 |
| Accounts payable and accrued expenses | $20,897 |
| 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 | $20,897 |
| Net assets without donor restrictions | $4,273,526 |
| 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 | $4,294,423 |
Grants Awarded
Over the last fiscal year, Federation Of State Medical Boards Research & Education Foundation has awarded $65,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NEW JERSEY STATE BOARD OF MEDICAL EXAMINERS PURPOSE: TO IMPLEMENT THE INTERSTATE MEDICAL LICENSURE COMPACT IN THEIR JURISDICTION. | $10,000 |
FEDERATION OF STATE PHYSICIAN HEALTH PROGRAMS (FSPHP) PURPOSE: SUPPORT A NATIONAL SURVEY OF PHYSICIAN HEALTH PROGRAMS ACROSS THE US AND CANADA ON THE SCOPE OF EDUCATIONAL AND SUPPORT SERVICES OFFERED. | $10,000 |
NORTH CAROLINA MEDICAL BOARD PURPOSE: SUPPORT A PROJECT TITLED PHYSICIAN ASSISTANT DISCIPLINARY STUDY. | $20,000 |
ACCREDITATION COUNCIL FOR CONTINUING MEDICAL EDUCATION (ACCME) PURPOSE: A PROJECT AIMED AT COORDINATING AND HARMONIZING THE MANDATORY OPIOID AND PAIN MANAGEMENT EDUCATION REQUIREMENTS ACROSS STATE MEDICAL BOARDS. | $25,000 |