by Don Kikkawa, MD
The ABO’s primary mission is to serve and protect the public. We accomplish this by several guiding principles, one of which is financial stewardship with integrity and transparency. While many details can be found on the recent FAQs listed on the June 2021 Diplomate Digest posting, as chair of the ABO Finance Committee I would like to highlight some additional information about ABO finances.
Although it may seem counter-intuitive, the recent pivoting to the virtual oral exam actually resulted in increased expenses for development and administration. The new format’s successes have been a direct result of redeployment of staff and administrative personnel.
For the past four years, the ABO has been awarded the Platinum Seal of Transparency by GuideStar, the world’s largest source of information on nonprofit organizations.
As a 501(c)(6) organization, the ABO is audited annually by S.R. Snodgrass of Cranberry Township, PA.
We keep our expenses to a minimum. The ABO transitioned to a virtual office in 2018. All of our employees work remotely. The ABO has no real estate holdings or other tangible assets, and by our charter, we are required to keep a minimum amount of operating reserves.
Our annual fee for Continuing Certification has not increased in nine years and remains amongst the lowest of ABMS member boards.
The ABO will continue to serve the public and our diplomates with the highest financial integrity and transparency.
Download the Board's current Statement of Financial Position here: