American Board of Ophthalmology

“Management engages an accounting firm to draft the form 990. The form then is reviewed by the abo's finance committee and then by all members of the board of directors prior to filing.”

“The abo's conflict of interest policy is sent to all members of the board of directors and all employees each year. Each person is required to acknowledge, in writing, receipt and review of the policy and to disclose any known, potential, or perceived conflicts. The governance committee reviews the disclosure forms, seeks further information when potential conflicts are identified, and works with the individuals to eliminate the conflicts. If a board member has a conflict that cannot be eliminated, he or she is recused from any relevant decisions.”

“The abo pays board of directors travel, lodging, and meal expenses (up to $75 per day) and provides a $9,000 annual stipend. The board of directors participate in approximately nine days of business meetings per year. In addition to meetings, the board directors work without compensation approximately 10% or 4 hours per week on abo-related activities. Total compensation for individual directors may vary based on their participation in additional abo activities. The consideration for the ceo salary is composed of several inputs: current compensation, market review of compensation of comparable abms executive directors, performance review, abo financial status, and any other information that may be deemed relevant. The abo chair and vice chair, in consultation with the abo finance committee, recommend the ceo's salary to the full abo board annually. A 2019 compensation evaluation conducted by an outside consultant group showed that ceo compensation is fair and competitive. A 2022 compensation evaluation conducted by an outside consultant group showed that staff compensation is fair and competitive. Staff compensation ranges are determined based on job scope and performance in reference to an independent salary survey that includes both national and local benchmarks. This survey is conducted every two to three years with annual updates.”

“The organization's governing documents, conflict of interest policy, and financial statements are available on the abo website.”

“Abo's finance committee and audit committee reviews the draft of the yearly issued form 990s before filing to the irs. This process remains consistent since the prior year's filed form 990.”