TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2019
Open to Public
Inspection
Inspection
Name of the organization
THE AMERICAN BOARD OF SURGERY INC
Employer identification number
23-1352007
23-1352007
| Return Reference | Explanation |
|---|---|
| FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: | THE AMERICAN BOARD OF SURGERY'S MISSION IS TO SERVE THE PUBLIC AND THE SPECIALTY OF SURGERY BY PROVIDING LEADERSHIP IN SURGICAL EDUCATION AND PRACTICE, BY PROMOTING EXCELLENCE THROUGH RIGOROUS EVALUATION AND EXAMINATION, AND BY PROMOTING THE HIGHEST STANDARDS FOR PROFESSIONALISM, LIFELONG LEARNING, AND THE CONTINUOUS CERTIFICATION OF SURGEONS IN PRACTICE. THE ABS WAS FOUNDED IN 1937 TO PROVIDE BOARD CERTIFICATION TO INDIVIDUALS WHO HAVE MET A DEFINED STANDARD OF EDUCATION, TRAINING AND KNOWLEDGE IN THE FIELD OF SURGERY. SURGEONS CERTIFIED BY THE ABS, KNOWN AS DIPLOMATES, HAVE COMPLETED AT LEAST 5 YEARS OF RESIDENCY TRAINING FOLLOWING MEDICAL SCHOOL, MET ALL ABS TRAINING REQUIREMENTS, AND SUCCESSFULLY COMPLETED THE ABS EXAMINATION PROCESS. ONCE CERTIFIED, ABS DIPLOMATES MUST COMPLETE CONTINUING EDUCATION AND ASSESSMENT ACTIVITIES, IN A PROCESS NOW KNOWN AS CONTINUOUS CERTIFICATION. BOARD CERTIFICATION BY THE ABS IS A VOLUNTARY PROCESS THAT DEMONSTRATES A SURGEON'S COMMITMENT TO PROFESSIONALISM, LIFELONG LEARNING, AND QUALITY PATIENT CARE. THE ABS OFFERS BOARD CERTIFICATION IN SURGERY (GENERAL SURGERY), VASCULAR SURGERY, PEDIATRIC SURGERY, SURGICAL CRITICAL CARE, COMPLEX GENERAL SURGICAL ONCOLOGY, HAND SURGERY, AND HOSPICE AND PALLIATIVE MEDICINE. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE ORGANIZATION HAS AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM PREPARE THE FORM 990. THE FORM IS THEN REVIEWED BY THE ORGANIZATION'S CONTROLLER AND PRESIDENT/CEO AND ANY NEEDED CHANGES OR UPDATES ARE COMMUNICATED BACK TO THE ACCOUNTING FIRM. THE 990 IS REVIEWED IN DETAIL BY THE AUDIT COMMITTEE AND THEN RECOMMENDED FOR APPROVAL BY THE FULL BOARD. ALL BOARD MEMBERS RECEIVE COPIES OF THE FORM 990 BEFORE THE RETURN IS FILED WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION HAS ALL DIRECTORS SIGN A DISCLOSURE FORM ANNUALLY ATTESTING TO THE FACT THAT THEY EACH HAVE READ, UNDERSTOOD, AND AGREED TO ABIDE BY THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. ALL NEW DIRECTORS WILL BE REQUIRED TO SIGN THE SAME ATTESTATION UPON THEIR JOINING THE BOARD OF DIRECTORS. IN ADDITION, ANY DIRECTOR, OFFICER, EMPLOYEE, MEMBER OR COMMITTEE MEMBER HAVING AN INTEREST IN A CONTRACT OR OTHER TRANSACTION PRESENTED TO THE BOARD OF DIRECTORS OR A COMMITTEE THEREOF FOR AUTHORIZATION, APPROVAL, OR RATIFICATION SHALL GIVE PROMPT, FULL, AND FRANK DISCLOSURE OF HIS OR HER INTEREST TO THE BOARD OR COMMITTEE PRIOR TO ITS ACTING ON SUCH CONTRACT OR TRANSACTION. THE BOARD OR COMMITTEE SHALL GATHER COMPARABILITY DATA REGARDING A POSSIBLE CONFLICT TO MAKE DETERMINATIONS REGARDING THE FAIRNESS AND REASONABLENESS OF THE TRANSACTION. THE INTERESTED PARTY MAY MAKE A PRESENTATION TO THE BOARD OR COMMITTEE CONCERNING THE TRANSACTION OR ARRANGEMENT AND THE INTERESTED PARTY'S INTEREST IN THE TRANSACTION OR ARRANGEMENT. THE BOARD OR COMMITTEE SHALL THEN DISCUSS THE TRANSACTION OR ARRANGEMENT WITHOUT THE INTERESTED PARTY PRESENT, INCLUDING THE DATA GATHERED ABOUT POSSIBLE MORE ADVANTAGEOUS TRANSACTIONS OR ARRANGEMENTS. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE IN CONFORMITY WITH THIS DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ABS ENGAGED AN INDEPENDENT COMPENSATION CONSULTANT TO PROVIDE RELEVANT, COMPETITIVE COMPARABLE MARKET COMPENSATION INFORMATION FOR SELECTED EXECUTIVE POSITIONS INCLUDING THE CEO, VICE-PRESIDENTS AND GENERAL COUNSEL. THE EXPERT REPORT CONCLUDED THAT ALL EXECUTIVE CURRENT RATES OF TOTAL COMPENSATION ARE WELL WITHIN NORMAL MARKET RANGES . THE COMPENSATION REPORT AND ANALYSIS FOR THE EXECUTIVES WAS REVIEWED AND APPROVED BY THE ABS AUDIT COMMITTEE AND THE BOARD OF DIRECTORS, AS CONFIRMED IN THEIR RESPECTIVE MINUTES . |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | NET ASSETS - SCORE -187,000. OTHER COMPONENTS OF NET PERIODIC PENSION COSTS 751,040. |
| FORM 990, PART XII, LINE 2C | AUDIT COMMITTEE IS TO OVERSEE THE SELECTION OF AUDITORS AND REVIEW OF AUDITED FINANCIAL STATEMENTS |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2019
Additional Data
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