Educational Commission For

“The compliance, audit, and quality assurance committee of the board has been charged by the board to review the form 990 as completed by the outside auditor, grant thornton, llp prior to it being filed with the internal revenue service. All members of the compliance, audit and quality assurance committee will receive final draft copies of the form 990 are then given the opportunity to make inquiries about any information contained therein. Drafts are then provided to the full board prior to filing.”

“It shall be the responsibility of all trustees and key employees to identify promptly to the chair of the board of ecfmg or faimer, as appropriate, all "possible conflicts of interest" whenever they arise; to declare their lack of independence; and to refrain from any discussions or deliberations regarding the identified "possible conflicts of interest or voting on or taking any other action with respect to such matter. Failure to properly disclose a "conflict of interest" may subject the board member or key employee to disciplinary action up to and including dismissal from the board or termination of employment. Annual conflict of interest disclosure forms for board and key employees: a conflict of interest disclosure form shall be circulated annually to all current trustees and key employees. The executive vice president of ecfmg shall make a determination annually as to which current employees of ecfmg and faimer meet the definition of key employee for the purpose of the questionaire. The conflict of interest disclosure form shall be distributed in december of each year covering the current calendar year. Completed forms shall be returned to the secretary of the board for ecfmg. The board secretary shall have the responsibility to monitor the completion of requested forms and for making appropriate follow-up inquiries to non-responders. Non-responders to the secretary's requests shall be reported to the chair of the boards of ecfmg and faimer as appropriate. Completed conflict disclosure forms shall be reviewed by the executive vice president, or in the case of the disclosure form of the executive vice president, by the president, and a report made annually of all indentified "possible conflicts of interest". Legal counsel shall render an opinion directly to the chair and president of the respective organization regarding such matters.”

“The executive compensation committee of the board has the responsibility for reviewing executive compensation of highly compensated employees which includes the ceo and senior vice president for business development and operations (the senior staff). Annually this committee commissions an independent compensation consultant to conduct a comparative survey of compensation and benefits of comparable key positions from similar organizations to ecfmg's senior staff. Also, included in the review is the vice president of human resources, the vice president of information technology and the vice president of finance. The committee compares the results of the compensation survey to the compensation paid to executives of ecfmg and makes adjustments, if appropriate. Annually, the executive compensation committee reviews the performance of the ceo and recommends a salary increase percentage as appropriate given the performance of the ceo and the financial results of ecfmg for that year. The committee also reviews and approves salary increase recommendations made by the ceo, for the senior staff. Contemporaneous minutes of all executive compensation committee meetings are made reflecting the actions taken with respect to senior staff compensation. The result of the committee's actions are summarized and reported to the board. Senior staff compensation reviews commenced in 2001.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available upon request.”

“On may 26, 2020, the usmle program suspended the administration of step 2 cs examination for period of 12-18 months in order to revitalize and introduce a modified exam. The revitalized examination was not expected to be delivered via a live encounter between an examinee and a standardized patient in a test center, but rather in a virtual environment. Accordingly, it was probable that any test centers that would be maintained for the future examination would need to be remodeled or renovated to sustain the anticipated virtual-assessment model. On january 26, 2021, the federation of state medical boards ("fsmb") and nbme, co-sponsors of the usmle, announced the discontinuation of work to relaunch a modified step 2 cs exam and permanently suspended the administration of step 2 cs. As the step 2 cs exam was the sole focus of cse, activities related to the collaboration are winding down.”

“Change in beneficial interest in faimer 4,008,028.”