Federation Of State Medical Boards Of The United States Inc
- Assets
- $83.0m
- Revenue
- $61.3m
- Investments
- $5.5m
- Employees
- 192
- Location
- Euless, TX
- Founding
- 06/2009
- Data as of
- 04/2022
- EIN
- 75-1092490
Organization Overview
Federation Of State Medical Boards Of The United States Inc is located in Euless, TX. The organization was established in 2009. According to its NTEE Classification (G05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 04/2022, Federation Of State Medical Boards Of The United States Inc employed 192 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Federation Of State Medical Boards Of The United States 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 04/2022, Federation Of State Medical Boards Of The United States Inc generated $61.3m 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 $51.9m during the year ending 04/2022. While expenses have increased by 3.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LEADER IN MEDICAL REGULATION, SERVING AS AN INNOVATIVE CATALYST FOR EFFECTIVE POLICY & STANDARDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREDENTIALS VERIFICATION SERVICE:THE CREDENTIALS VERIFICATION SERVICE ESTABLISHES A PERMANENT, LIFETIME REPOSITORY OF PRIMARY-SOURCE VERIFIED CORE CREDENTIALS FOR PHYSICIANS AND PHYSICIAN ASSISTANTS ELIMINATING THE NEED TO GO THROUGH THE TIME AND EFFORT OF ASSEMBLING AND FORWARDING THIS INFORMATION EVERY TIME THEY NEED TO BE CREDENTIALED OR LICENSED.
MEMBER SERVICESFSMB SUPPORTS STATE MEDICAL BOARDS AS THEY PROTECT THE PUBLIC AND PROMOTE QUALITY HEALTH CARE, PARTNERING AND INNOVATING WITH THEM TO SHAPE THE FUTURE OF MEDICAL REGULATION.
SPECIAL PURPOSE EXAMINATION (SPEX) AND UNITED STATES MEDICAL LICENSING EXAMINATION (USMLE):THE FEDERATION MAKES AVAILABLE TO MEMBER MEDICAL BOARDS, A UNIFORM, HIGH QUALITY EXAMINATION FOR MEDICAL LICENSURE ALONG WITH ADMINISTERING THE EXAMS. APPROXIMATELY 101 SPEX EXAMS WERE COMPLETED AND 35,932 EXAMINEES SAT FOR STEP THREE OF USMLE. ALSO, APPROXIMATELY 105,201 TRANSCRIPT REQUESTS WERE PROCESSED.
PHYSICIAN DATA CENTER: THE FEDERATION MAINTAINS A DATABASE OF PHYSICIANS LICENSED IN THE US AND ITS TERRITORIES. STATE MEDICAL BOARDS PROVIDE DISCIPLINARY UPDATES ON PHYSICIANS LICENSED IN EACH JURISDICTION. OVER 312,552 DATA AND/OR DISCIPLINARY SEARCHES WERE MADE DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Humayun Chaudhry CEO | Officer | 37 | $738,310 |
Michael Dugan Cio | Officer | 40 | $365,636 |
Lisa Robin Cao | Officer | 40 | $351,081 |
Todd Phillips CFO | Officer | 40 | $345,426 |
David Johnson Vp, Assessment Services | 40 | $302,300 | |
Eric Fish Senior Vp, Legal Services | 40 | $271,896 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Victor R Contreras Office Renovations | 4/29/22 | $153,235 |
Brownstein Hyatt Farber Schreck Policy Counsel | 4/29/22 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $600,220 |
| 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 | $600,220 |
| Total Program Service Revenue | $57,479,966 |
| Investment income | $1,285,868 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $932,138 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $955,957 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,293,815 |
| 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. | $2,379,344 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,417,537 |
| Pension plan accruals and contributions | $1,493,536 |
| Other employee benefits | $1,058,463 |
| Payroll taxes | $897,277 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $245,701 |
| Fees for services: Accounting | $43,129 |
| Fees for services: Lobbying | $125,948 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $215,621 |
| Fees for services: Other | $1,432,445 |
| Advertising and promotion | $11,920 |
| Office expenses | $879,008 |
| Information technology | $1,319,567 |
| Royalties | $0 |
| Occupancy | $840,888 |
| Travel | $687,943 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $706,567 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $876,548 |
| Insurance | $150,605 |
| All other expenses | $143 |
| Total functional expenses | $51,947,871 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $23,492,412 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $617,465 |
| 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 | $1,099,429 |
| Net Land, buildings, and equipment | $8,407,396 |
| Investments—publicly traded securities | $43,624,213 |
| Investments—other securities | $5,458,751 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $306,518 |
| Total assets | $83,006,184 |
| Accounts payable and accrued expenses | $6,043,071 |
| Grants payable | $0 |
| Deferred revenue | $12,837,739 |
| 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 | $1,428,254 |
| Total liabilities | $20,309,064 |
| Net assets without donor restrictions | $62,697,120 |
| 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 | $83,006,184 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Federation Of State Medical Boards Of The United States Inc Euless, TX | $83,006,184 | $61,293,815 |
St Davids Foundation Community Fund Austin, TX | $59,614,660 | $7,913,769 |
Adrienne Helis Malvin Medical Research Foundation New Orleans, LA | $18,462,151 | -$3,168,209 |
Diana Helis Henry Medical Research Foundation Inc New Orleans, LA | $36,171,329 | $1,598,387 |
Global Health Science Institute Las Cruces, NM | $0 | $207,944 |
Nad Research Springfield, LA | $36,361 | $0 |
Venomx Biologics Houston, TX | $10,855 | $0 |
Institute For Strategic And Innovative Technologies Driftwood, TX | $1,020 | $0 |