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The American Board of Internal Medicine Omits 6 Key Financial Schedules from 2014 Report

The American Board of Internal Medicine (ABIM) recently posted the Consolidated (i.e. including ABIM Foundation) Financial Report for the Year Ending June 30, 2014 (and June 30, 2013) to it’s Revenue and Expenses: Where Does the Money Go? page. The Financial Report’s Contents page lists 3 Financial Statements and 12 pages of Notes to Consolidated Financial Statements (see […]

The American Board of Internal Medicine (ABIM) recently posted the Consolidated (i.e. including ABIM Foundation) Financial Report for the Year Ending June 30, 2014 (and June 30, 2013) to it’s Revenue and Expenses: Where Does the Money Go? page.

The Financial Report’s Contents page lists 3 Financial Statements and 12 pages of Notes to Consolidated Financial Statements (see image above and 02-16-15 update below).

However, the Consolidated Financial Report for the Year Ending June 30, 2013 (and June 30, 2012) filed with the State of Pennsylvania on April 7, 2014 Contents page lists 3 Financial Statements, 12 pages of Notes to Consolidated Financial Statements, and 6 Supplementary Information reports spanning 8 pages:

[Note: The Financial Report for the Year Ending June 30, 2013 was never posted on ABIM’s Revenue and Expenses page]

Example of Supplementary Information Report:

Consolidating Schedule of Staff Expenses for the Year Ending June 30, 2013 from paper copy filed with the State of Pennsylvania and available by request only:

The 6 Supplementary Information reports included at June 30, 2013, but not June 30, 2014, are as follows:

  • Consolidating Statements of Financial Position (2 pages)
  • Consolidating Statement of Activities (2 pages)
  • Schedule of ABIM Changes in Unrestricted Net Assets (Deficit) from Operations
  • Consolidating Schedule of Administrative, Program and Project Expenses
  • Consolidating Schedule of Staff Expenses
  • Consolidating Schedule of Office Expenses

Update 02-05-15: The full complement of Supplementary Information was also included with the Consolidated Financial Report for the Year Ending June 30, 2011 (and June 30, 2010) filed with the State of Pennsylvania:

Update 02-16-15: The full complement of Supplementary Information is now available on ABIM’s Revenue and Expenses page. Consolidated Financial Report for the Year Ending June 30, 2014 (and June 30, 2013):

Consolidating Schedule of Staff Expenses for the Year Ending June 30, 2014 is presented below (page 25 of statements, 27 of PDF):

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