American Board of Thoracic Surgery INC

Not tax-deductible

Chicago, IL501(c)(6)EIN 36-4111028Revenue $2.2M in FY2024

On file with the IRSabts.org1 N Wacker Dr Ste 2402, 60606-2866 · Chicago, ILTax-exempt since Jan 1997

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The organization determines and maintains standards for certification in Thoracic Surgery.

Run by 100 volunteers and 6 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $53K a year · 2% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$1.3M
to officers and key staff · 38% of spending
Concern: pay to officers and key staff is 38% of spending; over 30%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $350
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 20 voting members
Looks good: 19 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
-23% vs prior year
Spent
$3.3M
Net assets
$27.2M
By yearFY2020–FY2024
Revenue
$2.2M
FY2024▼ -23%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$2.5M
FY2022$2.2M
FY2023$2.9M
FY2024$2.2M
Expenses
$3.3M
FY2024▲ +50%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$2.2M
FY2022$2.1M
FY2023$2.2M
FY2024$3.3M
Net assets
$27.2M
FY2024▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$20.4M
FY2021$24.5M
FY2022$20.7M
FY2023$25.0M
FY2024$27.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1997.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

29 people listed on the 990; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
Former Executive Director
$389,469Pt VII · Sec A
Executive Director
$300,626Pt VII · Sec A
Administrative Director
$172,911Pt VII · Sec A
Chief Operating Officer
$142,878Pt VII · Sec A
Director of Examination Services
$139,232Pt VII · Sec A
Continuing Certification Program Manager
$108,255Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
David a Fullterton MD$389,469————
Cameron D Wright MD$300,626$150,652———
David a Fullerton MD——$214,175$283,881$283,506
Patricia L Watson$172,911$226,699$224,761$198,242$188,972
Beth Winer$142,878————
Jennifer Hausman$139,232$124,709$123,522$103,911—
Alisha Gardner——$118,437$109,027—
Manoli Valencia$108,255————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Sets and upholds standards for certifying thoracic surgeons.

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3 programs · in their own filed words · FY2024
01

Continuing 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 (moc) process that required the diplomates demonstrate every five…

Pt IX · col B
02

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…

Pt IX · col B
03

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.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$350
Grants paid · 1 grant · $300K · 2021–2021

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.2M
Ln 12
Fees for servicesLn 2g$2.2M
Gifts and grantsLn 1h$25K
Investment incomeLn 3$24K
Money outPt IX
$3.3M
Ln 25
Owns and owesPt X
$27.2M
net assets · Ln 32
Cash and savingsLn 1–2$323K
Total assetsLn 16$27.2M
LiabilitiesLn 26$0
PeoplePt VI, VII
29
listed · VII A
PaidVII A6
Voting boardVI 1a20
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$25K
Fees for servicesLn 2g$2.2M
Investment incomeLn 3$24K
Other incomeLn 4–11$12K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$103K
SavingsLn 2$220K
Cash and savings togetherLn 1–2$323K
InvestmentsLn 11–13$26.9M
Total assetsLn 16$27.2M
LiabilitiesLn 26$0
Net assetsLn 32$27.2M
OperationsPt I, VI
EmployeesI 56
VolunteersI 6100
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$967K$323K
InvestmentsLn 11–13$24.0M$26.9M
Total assetsLn 16$25.0M$27.2M
LiabilitiesLn 26$0$0
Net assetsLn 32$25.0M$27.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$324K
Other salaries and wagesLn 7$1.1M
Pension plan contributionsLn 8$38K
Other employee benefitsLn 9$79K
Payroll taxesLn 10$89K
Legal feesLn 11b$67K
Accounting feesLn 11c$20K
Investment management feesLn 11f$15K
Other fees for servicesLn 11g$154K
Office expensesLn 13$26K
Information technologyLn 14$293K
OccupancyLn 16$48K
TravelLn 17$597K
InsuranceLn 23$119K
Other expenses (24a–d)Ln 24$362K
Total functional expensesLn 25$3.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $2.2M$3.3M−$1.1M$27.2M 990 PDF
FY2023 $2.9M$2.2M$684K$25.0M 990 PDF
FY2022 $2.2M$2.1M$145K$20.7M 990 PDF
FY2021 $2.5M$2.2M$339K$24.5M 990 PDF
FY2020 $1.9M$1.7M$194K$20.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,230,721 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$25,000
I-9 Program service revenuePrior year $2,744,752$2,169,251
I-10 Investment incomePrior year $2,911$24,460
I-11 Other revenuePrior year $156,417$12,010
I-12 Total revenuePrior year $2,904,080$2,230,721
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $813,139$1,626,743
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,407,237$1,701,213
I-18 Total expensesPrior year $2,220,376$3,327,956
I-19 Revenue less expensesPrior year $683,704−$1,097,235
Part VI · Governance 19 of 20 board members independent, no flags
VI-1a Voting members of the governing body20
VI-1b Independent voting members19
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,230,721 across 6 lines filed
Lines not itemized here account for $5,100 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$25,000
VIII-1h Total contributions, gifts and grants$25,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,169,251$2,169,251
VIII-3 Investment incomeExcluded from tax $24,460$24,460
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $6,910$6,910
VIII-12 Total revenueRelated to mission $2,181,261 · Unrelated business $0 · Excluded from tax $24,460$2,230,721
Part IX · Statement of functional expenses $3,327,956 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$323,750
IX-7 Other salaries and wages$1,097,138
IX-8 Pension plan contributions$37,756
IX-9 Other employee benefits$79,038
IX-10 Payroll taxes$89,061
IX-11b Legal fees$67,068
IX-11c Accounting fees$20,001
IX-11f Investment management fees$15,306
IX-11g Other fees for services$154,081
IX-13 Office expenses$26,455
IX-14 Information technology$292,979
IX-16 Occupancy$47,693
IX-17 Travel$596,564
IX-23 Insurance$118,970
IX-24 Other expenses (24a–d)$362,096
IX-25 Total functional expenses$3,327,956
Part X · Balance sheet $27,173,841 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $838,684$102,535
X-2 Savings and temporary cash investmentsStart of year $128,180$220,071
X-11 Publicly traded securitiesStart of year $22,267,521$24,688,390
X-12 Other securitiesStart of year $1,748,785$2,162,845
X-16 Total assetsStart of year $24,983,170$27,173,841
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $24,983,170$27,173,841
X-33 Total liabilities and net assetsStart of year $24,983,170$27,173,841
Part XI · Reconciliation of net assets $27,173,841 net assets at year end
XI-1 Total revenue$2,230,721
XI-2 Total expenses$3,327,956
XI-3 Revenue less expenses−$1,097,235
XI-4 Net assets at start of year$24,983,170
XI-5 Net unrealized gains (losses) on investments$3,287,906
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$27,173,841

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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