Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $405,543

• 1e · Government grants (contributions)

  $27,024,467

• 1f · All other contributions, gifts and grants

  $74,089

• 2a · Program service revenue: QUALITY AND SAFETY

  total $70,916,615 · related or exempt $70,916,615

• 2b · Program service revenue: CLINICAL RESEARCH

  total $15,023,665 · related or exempt $15,023,665

• 2c · Program service revenue: EDUCATION

  total $8,218,862 · related or exempt $8,218,862

• 2d · Program service revenue: MEMBER & CHAPTER SVCS

  total $3,144,575 · related or exempt $293,995 · unrelated business $2,850,580

• 2e · Program service revenue: DATA SCIENCE AND INFOR

  total $76,751 · related or exempt $76,751

• 2f · All other program service revenue

  total $21,262 · related or exempt $21,262

• 3 · Investment income

  total $5,101,495 · excluded $5,101,495

• 5 · Royalties

  total $446,562 · excluded $446,562

• 7a · Gross sales of assets other than inventory

  securities $16,583,843

• 7b · Less cost or other basis and sales expenses

  securities $10,389,400

• 7c · Gain or loss

  securities $6,194,443

• 7d · Net gain or loss

  total $6,194,443 · excluded $6,194,443

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $193,670 · excluded $193,670

• 11e · Other revenue, total

  $193,670

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $399,735 · program services $399,735

• 5 · Compensation of officers, directors and key employees

  total $6,476,892 · program services $2,278,709 · management and general $4,198,183

• 7 · Other salaries and wages

  total $51,664,005 · program services $33,802,054 · management and general $17,861,951

• 8 · Pension plan contributions

  total $5,166,400 · program services $3,380,205 · management and general $1,786,195

• 9 · Other employee benefits

  total $6,421,022 · program services $3,331,760 · management and general $3,089,262

• 10 · Payroll taxes

  total $4,631,811 · program services $2,898,285 · management and general $1,733,526

• 11b · Fees: legal

  total $164,301 · program services $1,050 · management and general $163,251

• 11c · Fees: accounting

  total $337,461 · management and general $337,461

• 11f · Fees: investment management

  total $676,903 · management and general $676,903

• 11g · Fees: other

  total $17,185,049 · program services $13,325,111 · management and general $3,859,938

• 12 · Advertising and promotion

  total $294,949 · program services $285,744 · management and general $9,205

• 13 · Office expenses

  total $2,299,519 · program services $1,331,064 · management and general $968,455

• 14 · Information technology

  total $5,682,077 · program services $528,835 · management and general $5,153,242

• 16 · Occupancy

  total $1,179,113 · program services $129,683 · management and general $1,049,430

• 17 · Travel

  total $2,065,159 · program services $1,396,415 · management and general $668,744

• 19 · Conferences, conventions and meetings

  total $2,957,524 · program services $1,233,027 · management and general $1,724,497

• 20 · Interest

  total $469,669 · management and general $469,669

• 22 · Depreciation, depletion and amortization

  total $10,415,287 · program services $5,384,199 · management and general $5,031,088

• 23 · Insurance

  total $610,741 · management and general $610,741

• 24a · Other expenses: CONSORTIUM COSTS

  total $11,235,530 · program services $11,235,530

• 24b · Other expenses: UBI TAXES

  total $706,010 · program services $621,132 · management and general $84,878

• 24c · Other expenses: REIMBURSED OVERHEAD

  total -$3,542,871 · program services $4,205,639 · management and general -$7,748,510

• 24e · All other expenses

  total $2,503,673 · program services $1,261,920 · management and general $1,241,753

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $954 · end of year $954

• 2 · Savings and temporary cash investments

  beginning of year $8,155,528 · end of year $8,010,562

• 4 · Accounts receivable

  beginning of year $12,896,862 · end of year $13,392,691

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,822,020 · end of year $2,896,501

• 10a · Land, buildings and equipment: cost or other basis

  $142,167,031

• 10b · Land, buildings and equipment: accumulated depreciation

  $95,850,512

• 10c · Land, buildings and equipment, net

  beginning of year $45,854,383 · end of year $46,316,519

• 11 · Investments: publicly traded securities

  beginning of year $195,771,512 · end of year $212,639,820

• 15 · Other assets

  beginning of year $10,781,474 · end of year $5,821,552

• 17 · Accounts payable and accrued expenses

  beginning of year $19,995,021 · end of year $18,415,743

• 18 · Grants payable

  beginning of year $105,056 · end of year $1,139

• 19 · Deferred revenue

  beginning of year $35,503,340 · end of year $29,508,535

• 20 · Tax-exempt bond liabilities

  beginning of year $9,421,968 · end of year $11,638,600

• 23 · Secured mortgages and notes payable

  beginning of year $5,588,659 · end of year $2,995,229

• 25 · Other liabilities

  beginning of year $36,160,926 · end of year $36,241,996

• 27 · Net assets without donor restrictions

  beginning of year $169,507,763 · end of year $190,277,357

The filer's explanations (Part III)

PART I, LINE 1A

ECONOMY COACH CLASS IS ENCOURAGED; HOWEVER, FIRST CLASS TRAVEL IS PERMITTED FOR THE CHAIRMAN, VICE CHAIRMAN, PRESIDENT, AND CHIEF EXECUTIVE OFFICER UNDER SPECIFIC CIRCUMSTANCES AND FOR FLIGHTS IN EXCESS OF 1,500 MILES. STAFF SPOUSAL TRAVEL IS COVERED FOR THE CHAIRMAN, VICE CHAIRMAN, PRESIDENT, AND CHIEF EXECUTIVE OFFICER. FOR ALL OTHER BOARD MEMBERS AND SENIOR STAFF ATTENDING THE MEETING, ONE SPOUSAL AIRFARE IS COVERED BY THE ORGANIZATION PER YEAR. SPOUSAL TRAVEL IS A TAXABLE BENEFIT INCLUDED IN COMPENSATION REPORTED IN PART II. SPOUSAL TRAVEL FOR THE CHIEF EXECUTIVE OFFICER, THE CHAIR, THE VICE CHAIR AND THE PRESIDENT IS PROVIDED ON A GROSS-UP BASIS TO COVER THE ASSOCIATED TAXES ON THE AMOUNT.

PART I, LINE 7

ANNUAL DISCRETIONARY BONUSES ARE AWARDED BASED ON EMPLOYEE PERFORMANCE AND CONTRIBUTIONS. DISCRETIONARY BONUSES ARE AUTHORIZED AS FOLLOWS: -THE BOARD COMPENSATION COMMITTEE DETERMINES DISCRETIONARY BONUSES FOR THE CEO -THE CEO DETERMINES BONUS AMOUNTS FOR THE EXECUTIVE MANAGEMENT TEAM, AND -HR IN CONJUNCTION WITH EACH EXECUTIVE VICE PRESIDENT, AUTHORIZE BONUSES FOR THEIR RESPECTIVE DEPARTMENT STAFF.

PART I, LINE 3:

ACR DETERMINES THE COMPENSATION OF CERTAIN SENIOR MANAGEMENT POSITIONS, INCLUDING THE CEO, CFO, AND OTHER KEY EMPLOYEES SUBJECT TO REVIEW AND APPROVAL BY THE EXECUTIVE COMMITTEE OF THE BOARD OF CHANCELLORS. UNDER THE COMPENSATION POLICY, THERE ARE REQUIREMENTS ESTABLISHED FOR DECISION MAKER IMPARTIALITY, REVIEW OF COMPARABILITY DATA, AND DOCUMENTED SUBSTANTIATION OF DECISIONS. THIS PROCESS WAS LAST UNDERTAKEN FOR EACH SUCH PERSON IN 2024.