AMERICAN ACADEMY OF SLEEP MEDICINE

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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

1987

Legal Domicile

Principal Officer

STEVEN VAN HOUT

Tax Period

2023-01-01 to 2023-12-31

AMERICAN ACADEMY OF SLEEP MEDICINE, founded in 1987, is a mid-sized nonprofit that reported $18.1M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Net assets of $90.2M represent 60 months of operating reserves.

Mission

THE AMERICAN ACADEMY OF SLEEP MEDICINE (AASM) IS A NONPROFIT CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF MINNESOTA TO (1) ESTABLISH, UPDATE, AND MAINTAIN STANDARDS FOR THE EVALUATION AND TREATMENT OF HUMAN SLEEP DISORDERS AND SLEEP-RELATED DISORDERS, (2) PROMOTE EDUCATION AND TRAINING IN SLEEP DISORDER MEDICINE AND TO FOSTER RELATED RESEARCH, AND (3) REPRESENT THE SLEEP DISORDER DISCIPLINE IN RELATION TO HEALTH PROFESSIONAL ORGANIZATIONS, FEDERAL AND LOCAL REGULATORY BODIES, AND FEDERAL AND PRIVATE HEALTH INSURERS.

Program Service Accomplishments

Program 1

ACCREDITATION - AASM ACCREDITATION IS A VOLUNTARY ACTIVITY, PROVIDING RECOGNITION THAT AN ENTITY MEETS RIGOROUS ACCREDITATION STANDARDS, WHICH ARE ESTABLISHED BY THE AASM AND UPDATED PERIODICALLY...

ACCREDITATION - AASM ACCREDITATION IS A VOLUNTARY ACTIVITY, PROVIDING RECOGNITION THAT AN ENTITY MEETS RIGOROUS ACCREDITATION STANDARDS, WHICH ARE ESTABLISHED BY THE AASM AND UPDATED PERIODICALLY BASED ON CHANGES IN TECHNOLOGY AND CLINICAL PRACTICE. FINAL APPROVAL OF ACCREDITATION RESTS WITH THE AASM ACCREDITATION COMMITTEE. THE AASM ACCREDITS SLEEP DISORDERS FACILITIES, INDEPENDENT SLEEP PRACTICES (ISP) AND DURABLE MEDICAL EQUIPMENT (DME) PROVIDERS.

Program 2

SCIENTIFIC PUBLICATION - THE AASM PUBLISHES THE JOURNAL OF CLINICAL SLEEP MEDICINE. THE JOURNAL INCLUDES PEER-REVIEWED SCIENTIFIC INVESTIGATIONS, CASE REPORTS, REVIEWS AND AASM CLINICAL PRACTICE...

SCIENTIFIC PUBLICATION - THE AASM PUBLISHES THE JOURNAL OF CLINICAL SLEEP MEDICINE. THE JOURNAL INCLUDES PEER-REVIEWED SCIENTIFIC INVESTIGATIONS, CASE REPORTS, REVIEWS AND AASM CLINICAL PRACTICE GUIDELINES THAT SUPPORT INFORMED CLINICAL DECISION-MAKING AND ENABLE SLEEP CLINICIANS TO REMAIN CURRENT PROFESSIONALLY.

Program 3

EDUCATION TO PROVIDE A VARIETY OF CONTINUING EDUCATION USING VARIED TEACHING MODALITIES AND VARIOUS DELIVERY METHODS. THE ACADEMY OFFERS EDUCATIONAL ACTIVITIES AT MULTIPLE LEVELS FOR SLEEP MEDICINE PHYSICIANS, NON-SLEEP PHYSICIANS, PSYCHOLOGISTS, ADVANCED PRACTICE PROVIDERS AND SLEEP TECHNOLOGISTS. THESE ACTIVITIES INCLUDE LIVE REGIONAL COURSES. FOR EXAMPLE, SLEEP MEDICINE TRENDS, SLEEP MEDICINE ESSENTIALS, AND OTHER SPECIALIZED LIVE COURSES AS NEEDED. IN ADDITION, A LARGE VOLUME OF ONLINE EDUCATIONAL OPPORTUNITIES ARE AVAILABLE ON-DEMAND, INCLUDING LIVE COURSE RECORDINGS, PPT PRESENTATIONS, WEBINARS, JOURNAL ARTICLES AND PRACTICE EXAMINATIONS.

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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 $398,931

Program Service Revenue $14,106,144

Investment Income $3,548,991

Other Revenue $8,577

TOTAL REVENUE $18,062,643

Expense Breakdown

Grants Paid $566,654

Salaries & Benefits $10,079,933

Fundraising Expenses $0

Other Expenses $8,147,925

TOTAL EXPENSES $18,794,512

Year-over-Year Comparison

	2023	2022	Change
Revenue	$18,062,643	$15,982,085	+0.1%
Expenses	$18,794,512	$17,457,272	+0.1%
Net Income	$-731,869	$-1,475,187	-0.5%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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

Volunteers

350

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

$938,401

Total Directors

$320,875

Key Employees

$296,332

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN VAN HOUT	EXECUTIVE DIRECTOR	40.00	Officer	$506,586	$87,212	$593,798
SHERENE THOMAS	ASSISTANT EXECUTIVE DIRECTOR	40.00	Key Emp	$247,078	$49,254	$296,332
THOMAS HEFFRON	SENIOR DIRECTOR	40.00	Highest	$214,845	$46,826	$261,671
MARY SQUARE	SENIOR DIRECTOR	40.00	Highest	$182,731	$36,383	$219,114
CHRISTOPHER WARING	SENIOR DIRECTOR	40.00	Highest	$181,860	$29,614	$211,474
DIEDRA GRAY	DIRECTOR OF HEALTH POLICY	40.00	Highest	$172,153	$31,111	$203,264
ANDREW SUMMERS	DIRECTOR OF FINANCE	40.00	Officer	$151,492	$36,486	$187,978
CHRISTEN WHITTINGTON	DIRECTOR OF ORGNAIZATIONAL AFFAIRS	40.00	Highest	$159,959	$23,873	$183,832
JAMES ROWLEY MD	PRESIDENT	5.00	Officer Director	$58,250	$0	$58,250
ERIC OLSON MD	PRESIDENT-ELECT	5.00	Officer Director	$44,500	$0	$44,500
JENNIFER MARTIN PHD	IMMEDIATE PAST PRESIDENT	5.00	Officer Director	$44,500	$0	$44,500
ANITA SHELGIKAR MD MHPE	SECRETARY-TREASURER	5.00	Director	$32,250	$0	$32,250
LYNN MARIE TROTTI MD MSC	DIRECTOR	5.00	Director	$19,600	$0	$19,600
FARIHA ABBASI-FEINBERG MD	DIRECTOR	5.00	Director	$18,500	$0	$18,500
VISHESH KAPUR MD MPH	DIRECTOR	5.00	Director	$17,000	$0	$17,000
DAVID KUHLMANN MD	DIRECTOR	5.00	Director	$17,000	$0	$17,000
EMERSON WICKWIRE PHD FAASM	DIRECTOR	5.00	Director	$17,000	$0	$17,000
RAMAN MALHOTRA MD	IMMEDIATE PAST PRESIDENT (OUTGOING 2023)	5.00	Officer Director	$9,375	$0	$9,375
RASHMI AURORA MD MHS	DIRECTOR (OUTGOING 2023)	5.00	Director	$8,900	$0	$8,900
ALEXANDRE ROCHA ABREU MD	DIRECTOR (INCOMING 2023)	5.00	Director	$8,500	$0	$8,500
INDIRA GURUBHAGAVATULA MD MPH	DIRECTOR (INCOMING 2023)	5.00	Director	$8,500	$0	$8,500
SUSHEEL PATIL MD PHD	DIRECTOR (INCOMING 2023)	5.00	Director	$8,500	$0	$8,500
CAROL ROSEN MD	DIRECTOR (OUTGOING 2023)	5.00	Director	$8,500	$0	$8,500

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	$18,062,643	$18,794,512	$100,447,114	$-731,869
2022	$15,982,085	$17,457,272	$90,011,093	$-1,475,187
2021	$16,695,981	$15,724,067	$108,922,365	$971,914
2020	$14,935,522	$16,294,646	$95,781,593	$-1,359,124
2019	$29,595,714	$13,970,771	$93,146,096	$15,624,943
2018	$17,547,567	$12,818,420	$78,580,491	$4,729,147