Finance & Budget Information

2019 Projected Revenue

$6,440,961*

As depicted in the accompanying graphic, the ABO’s main source of income is fees for its examinations (written, oral, and Maintenance of Certification), totaling approximately $4.8 million annually.

  • 62% - Initial Certification* ($3,940,100)
  • 36% - MOC ($2,348,361)
  • 2% - Miscellaneous ($152,500)

*The overall revenue projection is approximately $1.6 million higher in 2019 than the actual revenue received in 2018 because the ABO is administering an additional written qualifying examination and a double capacity oral examination in September. These changes support the ABO’s transition to administer the written qualifying examination closer to the end of residency and to administer one oral examination a year beginning in 2020.

Revenue

Revenue


Annual Expenses

$4.8 million

On the expense side, approximately $2 million is required to conduct the initial written ($745,000) and oral ($1.3 million) certifying examinations. Expenses to administer the Maintenance of Certification components (Quarterly Questions and Improvement in Medical Practice Activities) tally approximately $1.6 million. Here is a breakdown of how the ABO spent its total revenue of $4.8 million last year:

23.5% - Administration and Governance ($1,145,958)

Administrative components of staff and CEO duties; ABMS dues; legal and financial management fees;  miscellaneous expenses: resident tracking, certificate production, meetings with subspecialty societies, website and digital portal delivery, public and physician communications, rent.

42.5% - Initial Certification ($2,070,186)

  • Program evaluation and development, physician communication.
  • Creation of content and examination forms, standard setting activities, volunteer training.
  • Test vendor contract costs (Prometric) for the written qualifying examination, facility rental for the oral examination, online platforms.

34% - Maintenance of Certification ($1,653,880)

  • Program evaluation and development, CME credit fees, physician communication.
  • Creation of content and examination forms, standard setting activities, volunteer training.
  • Administration of recertification activities, including Quarterly Questions, online platforms.

Expenses


The financial information stated above is reflective of the American Board of Ophthalmology’s 2018 audited financial statements and 990 tax form.