AMERICAN BOARD OF THORACIC SURGERY INC

EIN: 364111028

CHICAGO, IL

Total Revenue
$2,904,080
Total Expenses
$2,220,376
Total Assets
$24,983,170
Net Assets
$24,983,170
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
IL
Principal Officer
CAMERON D WRIGHT
Phone
3122025900
Tax Period
2023-01-01 to 2023-12-31

AMERICAN BOARD OF THORACIC SURGERY INC, founded in 1996, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $684K, a strong 24% operating margin.

Mission

THE AMERICAN BOARD OF THORACIC SURGERY SERVES THE PUBLIC BY PROMOTING EXCELLENCE IN PRACTICE THROUGH RIGOROUS EVALUATION AND EXAMINATION, PROVIDING LEADERSHIP IN EDUCATION, AND ENSURING HIGH STANDARDS FOR PROFESSIONALISM, LIFELONG LEARNING AND CERTIFICATION.

Program Service Accomplishments

Program 1

CERTIFICATION - SINCE 1948, THE AMERICAN BOARD OF THORACIC SURGERY HAS PROTECTED THE PUBLIC BY ESTABLISHING AND MAINTAINING HIGH STANDARDS IN THORACIC SURGERY. TO ACHIEVE THESE OBJECTIVES, THE BOARD...

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CERTIFICATION - SINCE 1948, THE AMERICAN BOARD OF THORACIC SURGERY HAS PROTECTED THE PUBLIC BY ESTABLISHING AND MAINTAINING HIGH STANDARDS IN THORACIC SURGERY. TO ACHIEVE THESE OBJECTIVES, THE BOARD HAS ESTABLISHED QUALIFICATIONS FOR EXAMINATIONS AND PROCEDURES FOR CERTIFICATION. TO DATE, THE AMERICAN BOARD OF THORACIC SURGERY HAS CERTIFIED OVER 9,200 THORACIC SURGEONS.

Program 2

MAINTENENCE OF CERTIFICATION - SINCE 1976, THE AMERICAN BOARD OF THORACIC SURGERY HAS REQUIRED ITS DIPLOMATES TO COMPLETE A RECERTIFICATION PROGRAM EVERY 10 YEARS. STARTING IN 2008, THE AMERICAN...

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MAINTENENCE OF CERTIFICATION - SINCE 1976, THE AMERICAN BOARD OF THORACIC SURGERY HAS REQUIRED ITS DIPLOMATES TO COMPLETE A RECERTIFICATION PROGRAM EVERY 10 YEARS. STARTING IN 2008, THE AMERICAN BOARD OF THORACIC SURGERY CHANGED ITS RECERTIFICATION PROGRAM INTO A MAINTENANCE OF CERTIFICATION PROCESS. DIPLOMATES MUST NOW DEMONSTRATE EVERY FIVE YEARS THAT THEY MEET STANDARDS IN PROFESSIONALISM, LIFE-LONG LEARNING AND SELF-ASSESSMENT, COGNITIVE EXPERTISE AND PERFORMANCE IN PRACTICE.

Program 3

CONGENITAL CARDIAC SURGERY SUBSPECIALTY CERTIFICATION - SINCE 2009, THE AMERICAN BOARD OF THORACIC SURGERY HAS OFFERED A SUBSPECIALTY CERTIFICATE IN CONGENITAL CARDIAC SURGERY. TO BE ELIGIBLE FOR...

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CONGENITAL CARDIAC SURGERY SUBSPECIALTY CERTIFICATION - SINCE 2009, THE AMERICAN BOARD OF THORACIC SURGERY HAS OFFERED A SUBSPECIALTY CERTIFICATE IN CONGENITAL CARDIAC SURGERY. TO BE ELIGIBLE FOR THIS CERTIFICATE, DIPLOMATES MUST EITHER COMPLETE A CONGENITAL CARDIAC FELLOWSHIP OR PROVIDE DOCUMENTATION ON THEIR TRAINING, CURRENT CLINICAL EXPERIENCE AND PROFESSIONAL ACCOMPLISHMENT IN THE FIELD OF CONGENITAL CARDIAC SURGERY. TO DATE, THE AMERICAN BOARD OF THORACIC SURGERY HAS ISSUED OVER 260 CERTIFICATES IN CONGENITAL CARDIAC SURGERY.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,744,752
Investment Income $2,911
Other Revenue $156,417
TOTAL REVENUE $2,904,080

Expense Breakdown

Grants Paid $0
Salaries & Benefits $813,139
Fundraising Expenses $0
Other Expenses $1,407,237
TOTAL EXPENSES $2,220,376

Year-over-Year Comparison

2023 2022 Change
Revenue $2,904,080 $2,208,713 +0.3%
Expenses $2,220,376 $2,063,289 +0.1%
Net Income $683,704 $145,424 +3.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
19
Independent Members
18
Employees
5
Volunteers
100

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
6
$154,795
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOSEPH A DEARANI MD CHAIR 12.00
Officer Director
$0 $0 $0
MICHAEL J MACK MD VICE CHAIR 10.00
Officer Director
$0 $0 $0
CARL L BACKER MD DIRECTOR 4.00
Director
$0 $0 $0
MALCOLM M DECAMP JR MD DIRECTOR/DEPUTY EXAMINATION CHAIR 10.00
Officer Director
$0 $0 $0
M ASHRAF MANSOUR MD DIRECTOR 4.00
Director
$0 $0 $0
S ADIL HUSAIN MD DIRECTOR 4.00
Director
$0 $0 $0
CHRISTINE L LAU MD DIRECTOR 4.00
Director
$0 $0 $0
JENNIFER S LAWTON MD DIRECTOR 4.00
Director
$0 $0 $0
MICHAEL J MOULTON MD DIRECTOR 4.00
Director
$0 $0 $0
JENNIFER C ROMANO MD DIRECTOR 4.00
Director
$0 $0 $0
JOHN D MITCHELL MD DIRECTOR 4.00
Director
$0 $0 $0
THORAF M SUNDT III MD DIRECTOR 4.00
Director
$0 $0 $0
CATHY E MINEHAN MBA DIRECTOR 4.00
Director
$0 $0 $0
JOSEPH S COSELLI MD DIRECTOR 4.00
Director
$0 $0 $0
JESSICA DONINGTON MD DIRECTOR 4.00
Director
$0 $0 $0
TOM C NGUYEN MD DIRECTOR 4.00
Director
$0 $0 $0
DAVID T COOKE MD DIRECTOR 4.00
Director
$0 $0 $0
STEPHEN C YANG MD EXAMINATION CHAIR 4.00
Officer Director
$0 $0 $0
BETTY TONG DIRECTOR 4.00
Director
$0 $0 $0
DAVID A FULLERTON MD EXECUTIVE DIRECTOR 30.00
Officer
$0 $0 $0
CAMERON D WRIGHT MD EXECTIVE DIRECTOR-ELECT 15.00
Officer
$150,652 $4,143 $154,795
PATRICIA L WATSON ADMINISTRATIVE DIRECTOR 40.00
Highest
$226,699 $36,685 $263,384
JENNIFER HAUSMAN DIRECTOR OF EXAMINATION SE 40.00
Highest
$124,709 $9,202 $133,911
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 $2,904,080 $2,220,376 $24,983,170 $683,704
2022 $2,208,713 $2,063,289 $20,749,468 $145,424
2021 $2,529,487 $2,190,549 $24,489,789 $338,938
2020 $1,924,461 $1,730,488 $20,389,873 $193,973
2019 $2,591,444 $2,078,109 $18,390,587 $513,335
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