ABMS Revenue and Expenses

The American Board of Medical Specialties (ABMS), a nationally recognized not-for-profit organization, serves the public and the medical profession by improving the quality of health care through setting professional and educational standards for medical specialty practice and certification in partnership with its 24 certifying Member Boards.

Fulfilling this mission requires the commitment of our leaders and resources, prudent stewardship, and transparency.

The information on this page shows the consolidated revenue sources and expenses as reported in the 2024 Forms 990 (latest reports filed) for ABMS and its affiliates. It excludes restricted contributions and board-designated investment gains totaling $1.7 M. ABMS used reserves to invest in board certification research, innovation, and program development.

Revenue: $21.9 Million

  • Member Board Dues
    • 34% of Total Revenue
    • Fees from Member Boards and Associate Members
  • Certification Support Programs
    • 16% of Total Revenue
    • Fees related to certification services, ABMS Conference, grants, and physician involvement in quality and performance improvement initiatives
  • Credentialing Services
    • 50% of Total Revenue
    • Fees, subscriptions, and royalties for credential verification and database use

Expenses: $21.6 Million

  • Certification Standards, Assessment, and Research
    • 28% of Total Expenses
    • Development and implementation of educational and professional standards and programs for the evaluation, assessment, and certification of physician specialists
  • Communications and Advocacy
    • 17% of Total Expenses
    • Convening, communicating, advocating, and engaging with stakeholders
  • Operations and Infrastructure
    • 27% of Total Expenses
    • Legal, finance, IT, human resources, organization support, insurance, and office-related costs
  • Governance
    • 15% of Total Expenses
    • Convening, engagement, and governance with Member Boards
  • Credentialing
    • 13% of Total Expenses
    • Products and services for verifying specialty certification to the public, hospitals, health systems, insurers, and other organizations

ABMS uses the accrual-based accounting methodology required by the generally accepted accounting principles (GAAP) to report its financial activity. The ABMS Research and Education Foundation indirect cost rate is 16%.

Download the following 2024 ABMS Forms 990: