Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Custom Programs

  total $11,606,345 · related or exempt $11,606,345

• 2b · Program service revenue: Medical School Services

  total $39,209,443 · related or exempt $39,209,443

• 2c · Program service revenue: USMLE

  total $104,014,321 · related or exempt $104,014,321

• 3 · Investment income

  total $7,290,814 · related or exempt $7,290,814

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6a · Gross rents

  real property $727,587

• 6b · Less rental expenses

  real property $772,966

• 6c · Rental income or loss

  real property -$45,379

• 6d · Net rental income or loss

  total -$45,379 · excluded -$45,379

• 7a · Gross sales of assets other than inventory

  securities $35,915,819 · other assets $6,324,772

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

  securities $30,064,600 · other assets $3,986,822

• 7c · Gain or loss

  securities $5,851,219 · other assets $2,337,950

• 7d · Net gain or loss

  total $8,189,169 · excluded $8,189,169

• 8c · Net income from fundraising events

  total $0

• 9c · Net income from gaming

  total $0

• 10c · Net income from sales of inventory

  total $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $608,319 · program services $608,319

• 2 · Grants to domestic individuals

  total $10,000 · program services $10,000

• 3 · Grants to foreign organizations and individuals

  total $93,904 · program services $93,904

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $4,734,957 · program services $760,936 · management and general $3,974,021

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $54,449,222 · program services $43,920,105 · management and general $10,529,117

• 8 · Pension plan contributions

  total $10,930,163 · program services $8,465,782 · management and general $2,464,381

• 9 · Other employee benefits

  total $6,979,920 · program services $5,074,372 · management and general $1,905,548

• 10 · Payroll taxes

  total $4,020,487 · program services $3,034,268 · management and general $986,219

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $971,447 · management and general $971,447

• 11c · Fees: accounting

  total $99,040 · management and general $99,040

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $286,601 · management and general $286,601

• 11g · Fees: other

  total $5,704,909 · program services $4,356,211 · management and general $1,348,698

• 12 · Advertising and promotion

  total $53,008 · management and general $53,008

• 13 · Office expenses

  total $852,020 · program services $577,548 · management and general $274,472

• 14 · Information technology

  total $10,759,141 · program services $8,858,302 · management and general $1,900,839

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $1,148,288 · program services $927,063 · management and general $221,225

• 17 · Travel

  total $695,840 · program services $385,683 · management and general $310,157

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $2,967,109 · program services $2,289,864 · management and general $677,245

• 20 · Interest

  total $798,720 · program services $619,562 · management and general $179,158

• 21 · Payments to affiliates

  total $551,266 · program services $551,266

• 22 · Depreciation, depletion and amortization

  total $3,784,692 · program services $2,997,311 · management and general $787,381

• 23 · Insurance

  total $751,899 · program services $599,928 · management and general $151,971

• 24a · Other expenses: Vendor Computer Delivery Fees

  total $30,584,746 · program services $30,584,746

• 24b · Other expenses: Other Project/Admin

  total $2,434,166 · program services $1,716,953 · management and general $717,213

• 24c · Other expenses: Credit Card Fees

  total $1,481,401 · program services $1,481,401

• 24d · Other expenses: Clinical Skills Collaboration

  total $1,312,538 · program services $1,312,538

• 24e · All other expenses

  total $459,353 · program services $346,674 · management and general $112,679

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $20,002,543 · end of year $23,371,024

• 3 · Pledges and grants receivable

  end of year $0

• 4 · Accounts receivable

  beginning of year $6,414,144 · end of year $6,194,690

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  end of year $0

• 8 · Inventories for sale or use

  end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,906,473 · end of year $9,227,794

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

  $125,906,886

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

  $74,303,025

• 10c · Land, buildings and equipment, net

  beginning of year $55,033,067 · end of year $51,603,861

• 11 · Investments: publicly traded securities

  beginning of year $286,666,918 · end of year $244,843,519

• 12 · Investments: other securities

  beginning of year $60,419,999 · end of year $67,715,561

• 13 · Investments: program-related

  end of year $0

• 14 · Intangible assets

  end of year $0

• 15 · Other assets

  beginning of year $7,675,522 · end of year $5,827,223

• 17 · Accounts payable and accrued expenses

  beginning of year $12,442,867 · end of year $12,661,692

• 19 · Deferred revenue

  beginning of year $35,240,892 · end of year $35,747,593

• 20 · Tax-exempt bond liabilities

  beginning of year $28,589,953 · end of year $26,883,975

• 25 · Other liabilities

  beginning of year $118,139,318 · end of year $49,839,555

• 27 · Net assets without donor restrictions

  beginning of year $246,705,636 · end of year $283,650,857

The filer's explanations (Part III)

Part I, Line 1a: Relevant information in regards to selections on 1a.

Travel PolicyNBME's Business Travel policy states that the most cost effective options available based on the traveler's requested itinerary should be made. First-class travel and travel for companions are not specifically authorized in the policy. In limited circumstances, certain NBME Officers and Key Employees may be permitted first-class travel if authorized by the President. First-class travel and companion travel for the President are included in the compensation package. The cost incurred for travel for companions is included in the employee's taxable earnings.

Part III, Additional Information

The amounts reflected on Schedule J, Column C Retirement and other deferred compensation include an estimate of the annual increase in the actuarial present value of each employees benefit to be received at retirement under NBMEs defined benefit plan for each employee. In addition, column C includes the amount contributed by NBME to an eligible employee's defined contribution plan, as well as earnings accrued under the Exective Deferred Compensation Plan where applicable. The amount in column C does not represent an actual cash payment to the employee during the year, but an estimate of the accrued benefit during the year to be received at a later date or at the time of retirement.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Computer-Based Testing & Learning Corp

  C Corp · Comp-based Testing · PA · 100% owned · controlled entity

  Directly controlled by NBME