Nonprofit · EIN 61-1368512
ABFM FOUNDATION INC
Tax-exempt · LEXINGTON, KY 40511
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $24,990,397 | $9,527,924 | $15,462,473 | $130,610,531 | $5,563,242 | $125,047,289 |
| December 31, 2023 | 990 | $8,860,380 | $7,792,687 | $1,067,693 | $109,220,739 | $5,526,472 | $103,694,267 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $13,198,926
- Program service revenue
- $3,475,468
- Investment income
- $7,447,689
- Net rental income
- $509,661
- Net gain from sales of assets
- $5,098,074
- Other revenue
- $868,314
Expenses
- Grants and similar amounts paid
- $3,605,213
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $3,750
- Travel
- $9,979
- Program services (functional)
- $9,004,362
- Management and general (functional)
- $523,562
Balance sheet and other
- Total assets, start of year
- $109,220,739
- Total assets, end of year
- $130,610,531
- Total liabilities, end of year
- $5,563,242
- Net assets, end of year
- $125,047,289
- Land, buildings and equipment
- $3,453,200
- Publicly traded securities
- $104,874,162
- Net assets without donor restrictions
- $125,047,289
- Gross receipts
- $45,420,095
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2000
- State of legal domicile
- KY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| WARREN NEWTON MD | DIRECTOR/PRESIDENT/SECRETA Trustee or director, Officer | 2 | $0 | $949,266 | $50,175 |
| ROGER BEAN CPA | EXECUTIVE DIRECTOR Officer | 35 | $0 | $195,426 | $16,308 |
| DIANE BEEBE MD | DIRECTOR AND CHAIR Trustee or director, Officer | 1.5 | $6,500 | $0 | $0 |
| CARLOS JAEN MD | DIRECTOR AND VICE CHAIR Trustee or director, Officer | 1 | $6,000 | $0 | $0 |
| LAURA BROOKS MD | DIRECTOR AND TREASURER Trustee or director, Officer | 1.5 | $6,000 | $0 | $0 |
| SAM JONES MD | DIRECTOR Trustee or director | 1 | $5,500 | $0 | $0 |
| COLLEN CONRY MD | DIRECTOR Trustee or director | 1 | $4,500 | $0 | $0 |
| CARLOS GONZALES | DIRECTOR Trustee or director | 1 | $1,500 | $0 | $0 |
| JERRY KRUSE | DIRECTOR Trustee or director | 1 | $1,500 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| WARREN NEWTON MD | DIRECTOR/PRESIDENT/SECRETA Trustee or director, Officer | 2 | $0 | $908,589 | $48,324 |
| ROGER BEAN CPA | EXECUTIVE DIRECTOR Officer | 35 | $0 | $190,922 | $16,308 |
| ANDREA ANDERSON MD | DIRECTOR Trustee or director | 1 | $0 | $8,435 | $0 |
| DIANE BEEBE MD | DIRECTOR AND CHAIR Trustee or director, Officer | 1.5 | $7,500 | $0 | $0 |
| SAM JONES MD | DIRECTOR Trustee or director | 1 | $7,000 | $0 | $0 |
| LAURA BROOKS MD | DIRECTOR AND TREASURER Trustee or director, Officer | 1.5 | $6,000 | $0 | $0 |
| CRAIG CZARSTY MD | DIRECTOR Trustee or director | 2 | $5,500 | $0 | $0 |
| COLLEN CONRY MD | DIRECTOR Trustee or director | 1 | $3,000 | $0 | $0 |
| CARLOS JAEN MD | DIRECTOR AND VICE CHAIR Trustee or director, Officer | 1 | $2,500 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1648 MCGRATHIANA PKWY STE 550, LEXINGTON, KY 40511-1342
- Principal officer (990 for 2024)
- ROGER BEAN, 1648 MCGRATHIANA PARKWAY 550, LEXINGTON, KY 40511
- Signed the 990
- ROGER BEAN, EXECUTIVE DIRECTOR
- Phone
- (877) 223-7437
- Return prepared by
- CAROL S MOSES PSC
Mission
TO PERFORM THE FUNCTIONS OF AND CARRY OUT THE EDUCATION SCIENTIFIC LITERARY AND CHARITABLE PURPOSES OF ITS SUPPORTED ORGANIZATION, THE AMERICAN BOARD OF FAMILY MEDICINE (ABFM) INCLUDING: (A)TO ACCEPT FUNDING REQUESTS SUBMITTED TO THE ABFM OR FROM OTHER ORGANIZATIONS INVOLVED IN THE FOSTERING OF EDUCATION, SCHOLARLY ACTIVITIES OR RESEARCH IN FAMILY MEDICINE OR EDUCATIONAL TRAINING AND TESTING AND TO ADVISE THE ABFM OF THE BENEFIT TO THE SPECIALTY OF FAMILY MEDICINE OF PROVIDING SUCH SUPPORT; (B)TO SOLICIT AND ACCEPT CONTRIBUTIONS OR RESEARCH GRANTS FROM ORGANIZATIONS TO HELP FUND ANY PROJECTS/INITIATIVES THAT MEET THE ABOVE REQUIREMENTS.
Program accomplishments
- RESEARCH DIRECTED TOWARDS IMPROVING THE EDUCATION, TRAINING AND CERTIFICATION PROCESSES FOR FAMILY PHYSICIANS.Expenses $3,093,221 · grants $1,464,820
- THE FOUNDATION MANAGES THE PUBLICATION OF THE JOURNAL OF THE AMERICAN BOARD OF FAMILY MEDICINE (JABFM) AND OF THE ANNALS OF FAMILY MEDICINE. BOTH JOURNALS PUBLISH PEER REVIEWED ARTICLES FROM RESEARCHERS WHO ARE ADDRESSING HEALTH CARE ISSUES FACING THE PATIENTS IN THE CARE OF FAMILY PHYSICIANS.Expenses $836,377 · grants $200,541 · revenue $1,006,974
- THE FOUNDATION MANAGES THE CENTER FOR PROFESSIONALISM & VALUE IN HEALTH CARE. THE CENTER, LOCATED IN WASHINGTON DC, AIMS TO STUDY RELATIONSHIPS BETWEEN PROFESSIONALISM AND VALUE, PROMOTE THEIR ALIGNMENT, REDUCE HEALTH PROFFESSIONALS' BURDEN AND BETTER SUPPORT OUTCOME AND QUALITY IMPROVEMENT. THE CENTER ALSO MANAGES THE PRIME REGISTRY, AN OUTPATIENT CLINICAL DATA REGISTRY AND IS A QUALIFIED CLINICAL DATA REGISTRY.Expenses $2,468,494 · revenue $2,468,494
- PROVIDE FUNDING TO SUPPORT ORGANIZATIONS ENGAGED IN PROVIDING EDUCATIONAL OPPORTUNITIES, SCHOLARLY EFFORTS OR RESEARCH IN FAMILY MEDICINE AND ADMINISTRATION OF THE SAME. CONSIDER REQUESTS SUBMITTED TO THE ABFM OR FROM OTHER ORGANIZATIONS INVOLVED IN THE FOSTERING OF EDUCATION, SCHOLARLY ANALYSIS OR RESEARCH IN FAMILY MEDICINE; CREATION OF AN ELECTRONIC ARCHITECTURE THAT ENABLES REAL TIME INTERACTIONS AMOUNG HEALTH CARE RELATED ENTITIES OR RESEARCHERS FOR THE PURPOSE OF SHARING DATA THAT DRIVES IMPROVEMENTS IN THE HEALTH CARE FIELD.Expenses $2,606,270 · grants $1,939,852
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 61-1368512
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2000
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P80)
- Assets (IRS master file)
- $130,610,531
- Income (IRS master file)
- $45,420,095
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $24,990,397 | $9,527,924 | $130,610,531 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $8,860,380 | $7,792,687 | $109,220,739 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $8,163,967 | $8,454,847 | $94,569,952 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 61-1368512).
Questions about ABFM FOUNDATION INC
- What is the EIN of ABFM FOUNDATION INC?
- The employer identification number (EIN) of ABFM FOUNDATION INC is 61-1368512.
- Is ABFM FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to ABFM FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does ABFM FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ABFM FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ABFM FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ABFM FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names ROGER BEAN.
- Who are the officers and directors of ABFM FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 7 received compensation from the organization.
- How much revenue does ABFM FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $24,990,397, expenses of $9,527,924 and total assets of $130,610,531 at year end.
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