NATIONAL ASSOCIATION OF BOARDS OF … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1904

Legal Domicile

Principal Officer

LEMREY AL CARTER

Phone

8473914406

Tax Period

2023-01-01 to 2023-12-31

NATIONAL ASSOCIATION OF BOARDS OF PHARMACY, founded in 1904, is a mid-sized nonprofit that reported $44.6M in total revenue in fiscal year 2023. Net assets of $114.9M represent 31 months of operating reserves.

Mission

NABP ASSISTS MEMBER BOARDS OF PHARMACY AND STATE JURISDICTIONS IN DEVELOPING, IMPLEMENTING AND ENFORCING UNIFORM STANDARDS FOR THE PURPOSE OF PROTECTING THE PUBLIC HEALTH, INCLUDING THE DEVELOPMENT OF PHARMACIST LICENSING EXAMINATIONS, ACCREDITATION IN PHARMACY, STATE LICENSING RECIPROCITY FOR PHARMACISTS, CURRICULUM OUTCOMES ASSESSMENT EXAMINATIONS AND ASSESSMENT TOOLS FOR LICENSURE AND REMEDIATION PURPOSES BY ITS MEMBER BOARDS, AS WELL AS MAINTENANCE OF THE PHARMACIST DISCIPLINARY CLEARINGHOUSE FOR LICENSES AND A CENTRALIZED REPOSITORY FOR CONTINUING PROFESSIONAL EDUCATION ACHIEVEMENT FOR PHARMACISTS AND TECHNICIANS.

Program Service Accomplishments

Program 1

Expenses: $10,935,422 Revenue: $22,791,785

NABP EXAMINATION PROGRAMS INCLUDE THE NORTH AMERICAN PHARMACIST LICENSURE EXAMINATION ("NAPLEX"), THE MULTISTATE PHARMACY JURISPRUDENCE EXAMINATION ("MPJE"), THE FOREIGN PHARMACY GRADUATE EQUIVALENCY EXAMINATION ("FPGEE"), AS WELL AS PRACTICE EXAMINATIONS TO SUPPORT THE NAPLEX ("PRE-NAPLEX"), THE MULTISTATE PHARMACY JURISPRUDENCE EXAMINATION ("PRE-MPJE")AND THE FPGEE ("PRE-FPGEE"). DURING 2023, THERE WERE 17,894 ADMINISTRATIONS OF THE "NAPLEX" EXAM TO CANDIDATES FROM NUMEROUS SCHOOLS AND COLLEGES OF PHARMACY THROUGHOUT THE UNITED STATES; 32,770 ADMINISTRATIONS OF THE "MPJE" EXAM; AND 344 ADMINISTRATIONS OF THE "FPGEE" EXAM.

Program 2

Expenses: $7,674,159 Revenue: $8,074,322

NABP ACCREDITATION PROGRAMS INCLUDE THE DURABLE MEDICAL EQUIPMENT, PROSTHETICS, ORTHOTICS, AND SUPPLIES ("DMEPOS"); THE DRUG DISTRIBUTOR ACCREDITATION PROGRAM ("DDA"); THE DIGITAL PHARMACY...

NABP ACCREDITATION PROGRAMS INCLUDE THE DURABLE MEDICAL EQUIPMENT, PROSTHETICS, ORTHOTICS, AND SUPPLIES ("DMEPOS"); THE DRUG DISTRIBUTOR ACCREDITATION PROGRAM ("DDA"); THE DIGITAL PHARMACY ACCREDITATION PROGRAM (DPA); SUPPLY CHAIN INSPECTION PROGRAM ("SCI"); VERIFIED PHARMACY PROGRAM ("VPP"); OTC MEDICAL DEVICE DISTRIBUTOR PROGRAM; DOTPHARMACY PROGRAM, COMMUNITY PHARMACY PROGRAM; AND SPECIALTY PHARMACY PROGRAM.

Program 3

Expenses: $1,526,666

COMMUNICATIONS PROGRAMS INCLUDES PUBLICATIONS BOTH WRITTEN AND ELECTRONIC SUCH AS INNOVATIONS, THE NABP NEWSLETTER THAT FEATURE ARTICLES ABOUT THE PRACTICE OF PHARMACY AND REGULATORY ISSUES, UPDATES ON PROGRAMS ANDS SERVICES AND ASSOCIATION NEWS, ENEWS EMAIL IS NEWS DELIVERED TO A SUBSCRIBER'S INBOX INCLUDING THE LATEST NEWS ABOUT REGULATORY ISSUES, MEDICATION SAFETY, AND ONLINE PHARMACY SAFETY. MARKETING OUTREACH TO CONSUMERS REGARDING NABP PROGRAMS AND DRUG SAFETY ISSUES AND CUSTOMER ENGAGEMENT SERVICES WHICH ASSISTS THE ASSOCIATION USERS WITH ACCESSING INFORMATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $825,569

Program Service Revenue $37,294,026

Investment Income $3,184,610

Other Revenue $3,339,776

TOTAL REVENUE $44,643,981

Expense Breakdown

Grants Paid $10,150

Salaries & Benefits $25,270,341

Fundraising Expenses $0

Program Expenses $28,505,207

Other Expenses $18,546,629

TOTAL EXPENSES $43,827,120

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,643,981	$46,171,815	0.0%
Expenses	$43,827,120	$43,177,367	+0.0%
Net Income	$816,861	$2,994,448	-0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

221

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,060,129

Total Directors

$23,000

Key Employees

$635,378

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REGINALD DILLIARD	CHAIRMAN	3.00	Officer Director	$5,000	$0	$5,000
LENORA S NEWSOME	PRESIDENT	5.00	Officer Director	$8,000	$0	$8,000
JEFFREY J MESAROS	PRESIDENT-ELECT	3.00	Officer Director	$5,000	$0	$5,000
BRADLEY S HAMILTON	TREASURER	3.00	Officer Director	$5,000	$0	$5,000
STACEY RANUCCI	DIRECTOR	3.00	Director	$0	$0	$0
JANET GETZEY	DIRECTOR	3.00	Director	$0	$0	$0
TRACI COLLIER	DIRECTOR	3.00	Director	$0	$0	$0
STEVEN W SCHIERHOLT	DIRECTOR	3.00	Director	$0	$0	$0
SHANE R WENDEL	DIRECTOR	3.00	Director	$0	$0	$0
DEBORAH C MACK	DIRECTOR	3.00	Director	$0	$0	$0
NICOLE L CHOPSKI	DIRECTOR	3.00	Director	$0	$0	$0
KAMLESH GANDHI	DIRECTOR	3.00	Director	$0	$0	$0
LEMREY AL CARTER	EXECUTIVE DIRECTOR/SECRETARY	35.00	Officer	$578,340	$68,587	$646,927
THERESE ERTLER	CHIEF FINANCIAL OFFICER	35.00	Officer	$175,915	$32,098	$208,013
LAWRENCE STRASS	CHIEF FINANCIAL OFFICER	35.00	Officer	$150,929	$31,260	$182,189
WILLIAM J COVER	ASSOCIATE EXECUTIVE DIRECTOR	35.00	Key Emp	$263,714	$58,110	$321,824
PATRICIA MILAZZO	ASSOCIATE EXECUTIVE DIRECTOR	35.00	Key Emp	$261,710	$51,844	$313,554
MELISSA BECKER	ASSOCIATE EXECUTIVE DIRECTOR	35.00	Highest	$241,788	$51,692	$293,480
JOSHUA M BOLIN	ASSOCIATE EXECUTIVE DIRECTOR	35.00	Highest	$273,853	$61,792	$335,645
M GIBBONS	ASSOCIATE EXECUTIVE DIRECTOR	35.00	Highest	$233,010	$48,626	$281,636
PRASEED THAPPARAMBIL	CHIEF TECHNOLOGY OFFICER	35.00	Highest	$232,524	$57,491	$290,015
ROBERT COWAN	BUSINESS DEVELOPMENT OFFICER	35.00	Highest	$206,204	$45,464	$251,668

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$44,643,981	$43,827,120	$125,894,052	$816,861
2022	$46,171,815	$43,177,367	$114,860,797	$2,994,448
2021	$53,072,369	$39,593,546	$128,934,992	$13,478,823
2020	$40,121,388	$36,802,824	$120,574,534	$3,318,564
2019	$39,888,069	$38,105,567	$106,568,600	$1,782,502
2018	$45,635,560	$36,941,811	$97,248,646	$8,693,749

NATIONAL ASSOCIATION OF BOARDS OF PHARMACY