Civic Intelligence

Federation of State Boards of Physical Therapy

EIN 63-0946217 • 501(c)6 • Alexandria, VA

Profile

To protect the public by providing service and leadership that promote safe and competent physical therapy practice.

124 West Street South 3rd FloorAlexandria, VA 22314

www.fsbpt.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

25th percentile

0.12x

Higher debt load relative to assets than 25% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

42nd percentile

0.44x

Higher debt load relative to revenue than 42% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Source year 2024

Net Margin

88th percentile

23%

Higher net margin than 88% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

69th percentile

$1,259,571

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

501(c)6 • $100M-$250M nonprofits • Source year 2024

Asset Growth

92nd percentile

68%

Faster asset growth than 92% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

69th percentile

18%

Faster revenue growth than 69% of similar nonprofits.

501(c)6 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Up

$104,480,010

Up $42,406,017 (+68%) from 2023

Liabilities

Down

$12,107,977

Down $3,532,941 (-23%) from 2023

Net Assets

Up

$92,372,033

Up $45,938,958 (+99%) from 2023

Revenue

Up

$27,531,554

Up $4,175,195 (+18%) from 2023

Expenses

Down

$21,261,124

Down $3,786,530 (-15%) from 2023

Net Income

Up

$6,270,430

Up $7,961,725 (+471%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2011: $22,614,390Liabilities 2011: $1,611,743Net Assets 2011: $21,002,6472011Assets 2012: $27,016,639Liabilities 2012: $2,380,602Net Assets 2012: $24,636,0372012Assets 2013: $32,359,771Liabilities 2013: $4,226,125Net Assets 2013: $28,133,6462013Assets 2014: $33,824,808Liabilities 2014: $4,559,293Net Assets 2014: $29,265,5152014Assets 2015: $35,650,095Liabilities 2015: $4,853,460Net Assets 2015: $30,796,6352015Assets 2016: $36,497,295Liabilities 2016: $3,861,295Net Assets 2016: $32,636,0002016Assets 2017: $41,890,133Liabilities 2017: $5,005,048Net Assets 2017: $36,885,0852017Assets 2018: $39,731,162Liabilities 2018: $5,057,081Net Assets 2018: $34,674,0812018Assets 2019: $41,601,238Liabilities 2019: $5,264,665Net Assets 2019: $36,336,5732019Assets 2020: $48,457,777Liabilities 2020: $9,968,439Net Assets 2020: $38,489,3382020Assets 2021: $48,400,923Liabilities 2021: $4,786,718Net Assets 2021: $43,614,2052021Assets 2022: $45,620,880Liabilities 2022: $5,479,330Net Assets 2022: $40,141,5502022Assets 2023: $62,073,993Liabilities 2023: $15,640,918Net Assets 2023: $46,433,0752023Assets 2024: $104,480,010Liabilities 2024: $12,107,977Net Assets 2024: $92,372,0332024

Highlighted filing

2024

Assets$104,480,010
Liabilities$12,107,977
Net Assets$92,372,033

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MRevenue 2011: $11,571,249Expenses 2011: $8,904,432Net Income 2011: $2,666,8172011Revenue 2012: $13,536,600Expenses 2012: $10,465,321Net Income 2012: $3,071,2792012Revenue 2013: $14,481,936Expenses 2013: $11,411,503Net Income 2013: $3,070,4332013Revenue 2014: $13,991,172Expenses 2014: $12,229,258Net Income 2014: $1,761,9142014Revenue 2015: $15,642,736Expenses 2015: $13,250,390Net Income 2015: $2,392,3462015Revenue 2016: $14,705,571Expenses 2016: $13,876,268Net Income 2016: $829,3032016Revenue 2017: $16,577,284Expenses 2017: $15,374,651Net Income 2017: $1,202,6332017Revenue 2018: $18,969,765Expenses 2018: $15,741,663Net Income 2018: $3,228,1022018Revenue 2019: $19,391,355Expenses 2019: $19,397,128Net Income 2019: -$5,7732019Revenue 2020: $18,300,136Expenses 2020: $21,207,417Net Income 2020: -$2,907,2812020Revenue 2021: $19,831,466Expenses 2021: $22,776,728Net Income 2021: -$2,945,2622021Revenue 2022: $20,045,690Expenses 2022: $14,543,816Net Income 2022: $5,501,8742022Revenue 2023: $23,356,359Expenses 2023: $25,047,654Net Income 2023: -$1,691,2952023Revenue 2024: $27,531,554Expenses 2024: $21,261,124Net Income 2024: $6,270,4302024

Highlighted filing

2024

Revenue$27,531,554
Expenses$21,261,124
Net Income$6,270,430

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$104$12.1$92.4$27.5$21.3$6.27
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$62.1$15.6$46.4$23.4$25.0$1.69
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$45.6$5.48$40.1$20.0$14.5$5.50
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.4$4.79$43.6$19.8$22.8$2.95
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$48.5$9.97$38.5$18.3$21.2$2.91
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.6$5.26$36.3$19.4$19.4$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.7$5.06$34.7$19.0$15.7$3.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$41.9$5.01$36.9$16.6$15.4$1.20
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.5$3.86$32.6$14.7$13.9$0.83
2015Detailed filing. Detailed filing data is available for this year.$35.7$4.85$30.8$15.6$13.3$2.39
2014Detailed filing. Detailed filing data is available for this year.$33.8$4.56$29.3$14.0$12.2$1.76
2013Detailed filing. Detailed filing data is available for this year.$32.4$4.23$28.1$14.5$11.4$3.07
2012Summary only. Only limited summary data is available for this year.$27.0$2.38$24.6$13.5$10.5$3.07
2011Summary only. Only limited summary data is available for this year.$22.6$1.61$21.0$11.6$8.90$2.67
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 31, 2023
Return Version
2022v5.0
Gross Receipts
$20,045,690
Mission and Program Overview

Mission

Our mission: to protect the public by providing service and leadership that promote safe and competent physical therapy practice.our vision: to achieve a high level of public protection through a strong foundation of laws and regulatory standards in physical therapy, effective tools and systems to assess entry-level and continuing competence, and public and professional awareness of resources for public protection.

Provide public protection through laws & regulatory standards in physical therapy (see sch o) by use of systems that assess entry-level and continuing competence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$36,214,820$31,213,368▼ $5,001,452
Investments Other Securities-$5,502,149-
Savings and Temporary Cash Investments$-897,361$3,952,730▲ $4,850,091
Land, Buildings, and Equipment, Net$4,054,803$3,000,241▼ $1,054,562
Prepaid Expenses and Deferred Charges$176,125$574,002▲ $397,877
Accounts Receivable$565,228$39,669▼ $525,559
Cash and Non-Interest-Bearing Accounts$329$100▼ $229
Total Assets$48,400,923$45,620,880▼ $2,780,043
Other Assets Total$8,286,979$1,338,621▼ $6,948,358
Liabilities
Deferred Revenue$2,292,138$2,482,777▲ $190,639
Other Liabilities$1,634,052$1,822,557▲ $188,505
Accounts Payable and Accrued Expenses$860,528$1,173,996▲ $313,468
Total Liabilities$4,786,718$5,479,330▲ $692,612
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,614,205$40,141,550▼ $3,472,655
Total Net Assets Fund Balance$43,614,205$40,141,550▼ $3,472,655
Total Liabilities and Net Assets / Fund Balance$48,400,923$45,620,880▼ $2,780,043

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,180,939$16,869,825$18,050,764
Equipment$763,828$2,043,108$2,806,936
Leasehold Improvements$1,055,474$526,295$1,581,769
Other Securities$5,502,149--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William HatherhillCEOFT$554,539$359,291$913,830
Susan NewmanCOOFT$307,943$156,464$464,407
Linda MichelsenCFOFT$256,011$155,596$411,607
Richard WoolfChief Professional OfficerFT$206,912$148,835$355,747
Lorin MeullerManaging Director assessmentFT$226,402$99,351$325,753
Christine SousaManaging Director exam SvcsFT$196,004$57,124$253,128
Rudolph Frank SchneiderManaging Director info SystemsFT$195,000$46,650$241,650
Brandon RogersAsst Director info SystemsFT$176,352$61,351$237,703
Jeffrey RosaManaging DirectorFT$162,882$52,521$215,403
Nancy Kirsch Pt DptPresident, Former (10/1/2022)PT$13,333-$13,333
David RellingPresidentPT$9,333-$9,333
Adrienne PriceDirectorPT$8,000-$8,000
Charles ReiterPublic MemberPT$8,000-$8,000
Cindy PotterSecretaryPT$8,000-$8,000
Ellen Kroog DonaldDirectorPT$8,000-$8,000
Joni KalisDirectorPT$8,000-$8,000
Ruggiero CanizaresTreasurerPT$8,000-$8,000
Michele ThormanVice PresidentPT$1,333-$1,333

Highest Paid Contractors

ContractorServicesLocationCompensation
Tenpearls LLCComputer Software8614 WESTWOOD CENTER DR 540, Vienna, VA 22182$592,100
DesigndataComputing Consulting610 PROFESSIONAL DRIVE 102, Gaithersburg, MD 20879$290,109
Travel LeadersTravel Services3033 CAMPUS DR W320, Plymouth, MN 55441$272,193
Kane Education Law LLCLegal Consulting1654 GRAND AVE, St Paul, MN 55105$150,000
Anchor Technologies INCCyber Security Risk Mgt6315 HILLSIDE CT J, Columbia, MD 21046$130,631
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$19,075,360
Investment Income
$615,842
Other Revenue
$354,488
Change in Net Assets
$5,501,874

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,029,690
Revenue Not Reported on Financial Statements
$16,000
Revenue Not Reported on Form 990
$-6,850,719
Total Revenue per Audited Statements
$13,178,971
Total Revenue per Form 990
$20,045,690
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$8,041,229
Other Expenses$5,938,334
Grants and Similar Amounts Paid$564,253
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$3,506,193
Current Officers, Directors, Trustees, and Key Employees---$2,501,711
Depreciation Depletion---$1,327,786
Information Technology---$1,028,460
Pension Plan Contributions---$1,026,078
Travel---$866,551
Occupancy---$768,644
Fees for Services Other---$682,183
Other Employee Benefits---$643,983
Grants to Domestic Orgs---$564,253
Conferences and Meetings---$401,373
Payroll Taxes---$363,264
Office Expenses---$233,756
Insurance---$100,399
Fees for Services Accounting---$73,478
Interest---$38,851
Other Expenses---$36,646
All Other Expenses---$33,887
Fees for Services Legal---$26,599
Fees for Service Investment Mgmnt Fees---$16,000
Advertising---$5,334
Total Functional Expenses$0$0$0$14,543,816

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$14,543,816
Expenses per Audited Statements$14,527,816
Total Expenses per Audited Statements$14,527,816
Expenses Not Reported on Financial Statements$16,000
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pt Compact Co LcasoAlexandria, VA-Grants to Various Jurisdictions$360,014
Pt CompactAlexandria, VA501(c)(6)Loan Forgiveness$120,719
Minnesota Board of Physical TherapySt Paul, MN-Minnesota State Grant for Technology$45,000
Nevada State Board of Physical TherapyLas Vegas, NV-Nevada State Grant for Technology$28,770
Virgin Islands Board of Physical Therapy Vi Department of HealthChristiansted, VI501(c)(6)Virgin Island Jurisdiction Grant for Website Design$9,750
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation$1,822,557
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

Members of the board of directors are elected for staggered three year terms by members of the 53 licensing jurisdictions at annual meetings.

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by an independent third party with the assistance of the organization's cfo. Once complete, it is thoroughly reviewed by the cfo and copies are provided to the board of directors prior to filing the return.

Form 990, Part VI, Section B, Line 12C

Conflict of interest statements are signed annually and the organization's cfo is responsible for tracking transactions during the year to ensure compliance.

Form 990, Part VI, Section B, Line 15

The organization utilizes the services of an independent third party to review and advise on the salary administration program. This involves generating a detailed survey of positions that are comparable to the organization's based on job description, size and geographic location. The information from the survey is used to establish pay ranges by position. The study results are approved by the board of directors. By policy, the salary ranges must be followed. The board of directors is responsible for establishing the annual salary of the ceo based on the guidelines previously described. Any bonuses for the ceo or other senior staff are approved by the board of directors. The ceo is responsible for determining the compensation of other officers and senior staff, subject to the guidelines previously described.

Form 990, Part VI, Section C, Line 19

Only information contained in the form 990 is made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Federation of State Boards of Physical
EIN
63-0946217
Phone
7032993100
Address
124 WEST STREET SOUTH 3RD FLOOR, ALEXANDRIA, VA 22314

Signing Officer

Name
Linda Michelsen
Title
CFO
Phone
7032993100
Signed
2023-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Michelsen
Formed
1987
Legal Domicile
De
Voting Board Members
8
Independent Board Members
8
Employees
60
Volunteers
211

Preparer

Firm
Sb & Company LLC
Address
10200 GRAND CENTRAL AVE SUITE 250, OWINGS MILLS, MD 21117
Preparer
Monique Booker
Phone
4105840060
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in equity in affiliates -2,123,810.

Form 990, Part XII, Line 2C

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The provisions included in accounting principles generally accepted in the united states of america provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. Fsbpt performed an evaluation of uncertain tax positions as of december 31, 2022 and 2021, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. As of december 31, 2022, the statute of limitations for fiscal years 2019 through 2022 remains open with the u.s. Federal jurisdiction. It is the fsbpt's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense.

Raw XML AppendixShowing 400 of 821 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
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IRS990/AccountsPayableAccrExpnssGrp/EOYAmt01173996
IRS990/AccountsReceivableGrp/BOYAmt0565228
IRS990/AccountsReceivableGrp/EOYAmt039669
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0PROVIDE PUBLIC PROTECTION THROUGH LAWS & REGULATORY STANDARDS IN PHYSICAL THERAPY (SEE SCH O) BY USE OF SYSTEMS THAT ASSESS ENTRY-LEVEL AND CONTINUING COMPETENCE.
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IRS990/BooksInCareOfDetail/USAddress/CityNm0ALEXANDRIA
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IRS990/CompensationProcessOtherInd01
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IRS990/ConservationEasementsInd00
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IRS990/ContractorCompensationGrp/ServicesDesc3LEGAL CONSULTING
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IRS990/Desc0THE FEDERATION DEVELOPS AND ADMINISTERS EXAMS USED BY JURISDICTION LICENSING AUTHORITIES FOR PHYSICAL THERAPISTS AND PHYSICAL THERAPIST ASSISTANTS. IN 2022, APPROXIMATELY 25,000 LICENSURE EXAMS AND 26,000 PRACTICE EXAMS WERE PROVIDED TO CANDIDATES.
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IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt060
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/TotalAmt073478
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IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
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IRS990/Form990PartVIISectionAGrp/TitleTxt13MANAGING DIR-EXAM SVCS
IRS990/Form990PartVIISectionAGrp/TitleTxt14MANAGING DIR-INFO SYSTEMS
IRS990/Form990PartVIISectionAGrp/TitleTxt15ASST DIR-INFO SYSTEMS
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IRS990/Form990PartVIISectionAGrp/TitleTxt17PRESIDENT, FORMER (10/1/2022)
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IRS990/MissionDesc0OUR MISSION: TO PROTECT THE PUBLIC BY PROVIDING SERVICE AND LEADERSHIP THAT PROMOTE SAFE AND COMPETENT PHYSICAL THERAPY PRACTICE.OUR VISION: TO ACHIEVE A HIGH LEVEL OF PUBLIC PROTECTION THROUGH A STRONG FOUNDATION OF LAWS AND REGULATORY STANDARDS IN (SEE SCH O) PHYSICAL THERAPY BY USE OF EFFECTIVE TOOLS AND SYSTEMS TO ASSESS ENTRY-LEVEL AND CONTINUING COMPETENCE, AND PUBLIC AND PROFESSIONAL AWARENESS OF RESOURCES FOR PUBLIC PROTECTION.
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE FEDERATION MAINTAINS A DATABASE OF DISCIPLINARY ACTIONS TAKEN BY JURISDICTION LICENSING AUTHORITIES WITH RESPECT TO PHYSICAL THERAPISTS AND PHYSICAL THERAPIST ASSISTANTS. SUCH INFORMATION IS PROVIDED TO JURISDICTION LICENSING AUTHORITIES WHO CURRENTLY LICENSE OR ARECONSIDERING LICENSURE OF A CANDIDATE. THIS EXPENSE CATEGORY ALSO INCLUDES INFORMATION SERVICES SUPPORT FOR OTHER PROGRAM AREAS, SUCH AS EXAM ADMINISTRATION, JURISPRUDENCE, AND CONTINUING COMPETENCE.
IRS990/ProgSrvcAccomActy3Grp/Desc0THE FEDERATION ADMINISTERS JURISPRUDENCE EXAMS ON BEHALF OF ITS MEMBERS. THESE EXAMS ARE REQUIRED BY THE JURISDICTION LICENSING AUTHORITIES. IN 2022, APPROXIMATELY 47,000 JURISPRUDENCE EXAMS WERE PROVIDED TO CANDIDATES.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE FEDERATION SERVES AS A RESOURCE TO ITS MEMBER LICENSURE JURISDICTIONS WHEN THEY HAVE A QUESTION INVOLVING PROFESSIONAL STANDARDS, LEGISLATION, LICENSURE PRACTICES, ETC. IN ADDITION, THE FEDERATION PROVIDES EDUCATIONAL OPPORTUNITIES FOR ITS MEMBERS.
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