FEDERATION OF STATE BOARDS OF PHYSICAL THERAPY

EIN: 630946217

ALEXANDRIA, VA

Total Revenue
$23,356,359
Total Expenses
$25,047,654
Total Assets
$62,073,993
Net Assets
$46,433,075
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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
DE
Principal Officer
LINDA MICHELSEN
Phone
7032993100
Tax Period
2023-01-01 to 2023-12-31

FEDERATION OF STATE BOARDS OF PHYSICAL THERAPY, founded in 1987, is a mid-sized nonprofit that reported $19.0M in total revenue in fiscal year 2018. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.2M, a strong 17% operating margin.

Mission

PROVIDE PUBLIC PROTECTION THROUGH LAWS & REGULATORY STANDARDS IN PHYSICAL THERAPY (SEE SCH O) BY USE OF SYSTEMS THAT ASSESS ENTRY-LEVEL AND CONTINUING COMPETENCE.

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Trantor Score

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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 $20,059,564
Investment Income $2,597,075
Other Revenue $699,720
TOTAL REVENUE $23,356,359

Expense Breakdown

Grants Paid $10,745,497
Salaries & Benefits $8,566,956
Fundraising Expenses $0
Other Expenses $5,735,201
TOTAL EXPENSES $25,047,654

Year-over-Year Comparison

2023 2022 Change
Revenue $23,356,359 $20,045,690 +0.2%
Expenses $25,047,654 $14,543,816 +0.7%
Net Income $-1,691,295 $5,501,874 -1.3%
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
8
Independent Members
8
Employees
55
Volunteers
322

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
$1,794,365
Total Directors
10
$72,000
Key Employees
2
$1,016,492
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID RELLING PRESIDENT 10.00
Officer Director
$16,000 $0 $16,000
MICHELE THORMAN VICE PRESIDENT 5.00
Officer Director
$8,000 $0 $8,000
RUGGIERO CANIZARES TREASURER 5.00
Officer Director
$8,000 $0 $8,000
CINDY POTTER SECRETARY 5.00
Officer Director
$8,000 $0 $8,000
ELLEN KROOG DONALD DIRECTOR 5.00
Director
$8,000 $0 $8,000
JONI KALIS DIRECTOR 5.00
Director
$6,667 $0 $6,667
ADRIENNE PRICE DIRECTOR 5.00
Director
$6,667 $0 $6,667
CHARLES REITER PUBLIC MEMBER 5.00
Director
$8,000 $0 $8,000
MICHELLE SIGMUND-GAINES DIRECTOR 5.00
Director
$1,333 $0 $1,333
STEVEN J SCHERGER DIRECTOR 5.00
Director
$1,333 $0 $1,333
WILLIAM HATHERHILL CEO 40.00
Officer
$1,073,626 $249,211 $1,322,837
LINDA MICHELSEN CFO 40.00
Officer
$316,880 $114,648 $431,528
SUSAN NEWMAN COO/CIO 40.00
Key Emp
$530,416 $109,143 $639,559
RICHARD WOOLF CHIEF PROFESSIONAL OFFICER 40.00
Key Emp
$254,579 $122,354 $376,933
LORIN MEULLER MANAGING DIR-ASSESSMENT 40.00
Highest
$264,705 $120,912 $385,617
CHRISTINE SOUSA MANAGING DIR-EXAM SVCS 40.00
Highest
$228,518 $42,833 $271,351
BRANDON ROGERS ASST DIR-INFO SYSTEMS 40.00
Highest
$196,948 $39,410 $236,358
RUDOLPH FRANK SCHNEIDER MANAGING DIR-INFO SYSTEMS 40.00
Highest
$226,874 $31,437 $258,311
JEFFREY ROSA MANAGING DIRECTOR 40.00
Highest
$178,382 $40,211 $218,593
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 $23,356,359 $25,047,654 $62,073,993 $-1,691,295
2022 $20,045,690 $14,543,816 $45,620,880 $5,501,874
2021 $19,831,466 $22,776,728 $48,400,923 $-2,945,262
2020 $18,300,136 $21,207,417 $48,457,777 $-2,907,281
2019 $19,391,355 $19,397,128 $41,601,238 $-5,773
2018 $18,969,765 $15,741,663 $39,731,162 $3,228,102
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