2022-11-10T07:31:44-06:00 2021-12-31 366055558 GRANT THORNTON LLP 2001 MARKET STREET SUITE PHILADELPHIA PA 19103 990 2021-01-01 362367980 EDUCATIONAL COMMISSION FOR FOREIGN MEDICAL GRADUATES EDUC 2158232293 3624 MARKET STREET 4TH FL PHILADELPHIA PA 19104 JOSHUA KISVER SVP FINANCE AND CFO 2158232293 2022-11-10 1 JOSHUA KISVER 999009999 ALYCIA SOLECKI P01272637 2155614200 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z INTEALTH WILLIAM W PINSKY MD 3624 MARKET STREET 4TH FL PHILADELPHIA PA 19104 90596389 0 X WWW.ECFMG.ORG X 1956 PA TO SERVE THE PUBLIC BY: - ASSURING THE QUALIFICATIONS OF HEALTH CARE PROFESSIONALS - PROVIDING PRIMARY-SOURCE VERIFICATION OF CREDENTIALS OF HEALTH CARE PROFESSIONALS, AS THEY SERVE THROUGHOUT THE WORLD - SUPPORTING INTERNATIONAL MEDICAL GRADUATES WHO SEEK GRADUATE MEDICAL EDUCATION IN THE UNITED STATES 21 19 330 19 239778 232646 0 0 54348306 57357423 242383 15429556 0 0 54590689 72786979 254827 1371072 0 0 45807276 31288711 0 0 0 27478663 20519453 73540766 53179236 -18950077 19607743 222361897 218692756 62230026 36927931 160131871 181764825 X TO SERVE THE PUBLIC BY: - ASSURING THE QUALIFICATIONS OF HEALTH CARE PROFESSIONALS - PROVIDING PRIMARY-SOURCE VERIFICATION OF CREDENTIALS OF HEALTH CARE PROFESSIONALS, AS THEY SERVE THROUGHOUT THE WORLD - SUPPORTING INTERNATIONAL MEDICAL GRADUATES WHO SEEK GRADUATE MEDICAL EDUCATION IN THE UNITED STATES 0 1 19383502 0 22410999 ECFMG CERTIFICATION PROGRAM- ECFMG'S PROGRAM OF CERTIFICATION ASSESSES WHETHER INTERNATIONAL MEDICAL GRADUATES (IMG) ARE READY TO ENTER U.S. GRADUATE MEDICAL EDUCATION PROGRAMS THAT ARE ACCREDITED BY THE ACCREDITATION COUNCIL FOR GRADUATE MEDICAL EDUCATION. EXAMINATIONS (USMLE STEP 1 AND STEP 2CK): ECFMG IS THE ORGANIZATION THE REGISTERS IMGS FOR THE USMLE EXAMINATIONS. 3871714 0 6353345 ELECTRONIC RESIDENCY APPLICATION SERVICE (ERAS)-PROVIDES A MECHANISM FOR INTERNATIONAL MEDICAL STUDENTS/GRADUATES TO ELECTRONICALLY APPLY FOR RESIDENCY POSITIONS IN ACCREDITED U.S. PROGRAMS OF GRADUATE MEDICAL EDUCATION. 14048994 0 23530280 CERTIFICATION VERIFICATION SERVICES - CERTIFICATION VERIFICATION SERVICES: ECFMG PROVIDES PRIMARY SOURCE VERIFICATION OF THE ECFMG CERTIFICATION TO ENTITIES IN THE U.S. THAT RELY ON THE ECFMG CERTIFICATION TO EVALUATE THE QUALIFICATIONS OF INTERNATIONAL MEDICAL GRADUATES. INTERNATIONAL CREDENTIAL SERVICES: A SERVICE TO INTERNATIONAL ORGANIZATIONS AND AUTHORITIES INVOLVED IN MEDICAL REGISTRATION, LICENSING, AND ASSESSMENT BY OBTAINING PRIMARY SOURCE VERIFICATION OF CREDENTIALS OF PHYSICIANS WHO COMPLETED THEIR MEDICAL EDUCATION OUTSIDE THE AUTHORITIES JURISDICTION. 4472134 1371072 5062799 EVSP - EXCHANGE VISITOR SPONSORSHIP PROGRAM -ECFMG IS AUTHORIZED BY THE U.S. DEPARTMENT OF STATE TO SPONSOR J-1 EXCHANGE VISITOR PHYSICIANS IN ACCREDITED PROGRAMS OF MEDICAL EDUCATION OR TRAINING OR ADVANCED RESEARCH PROGRAMS. 4472134 1371072 5062799 41776344 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 1 0 1 0 0 1 1 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 80 0 1 330 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 21 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X JOSHUA KISVER 2159663433 3624 MARKET STREET PHILADELPHIA PA 19104 WILLIAM W PINSKY MD BOARD CHAIR/ PRESIDENT/CEO 40.00 5.00 X X 922973 0 186849 CHERYLL ALBOLD PHD MS ED BOARD MEMBER 2.00 2.00 X 0 0 0 BARBARA BARZANSKY PHD MHPE BOARD MEMBER 2.00 2.00 X 0 0 0 RONALD R BLANCK DO BOARD MEMBER 2.00 2.00 X 0 0 0 PAMELA BLIZZARD MBA BOARD MEMBER 2.00 2.00 X 0 0 0 DONALD CRAIG BRATER MD BOARD MEMBER 2.00 2.00 X 0 0 0 PETER F BUCKLEY MD BOARD MEMBER 2.00 2.00 X 0 0 0 FRANCIS L COUNSELMAN MD BOARD MEMBER 2.00 2.00 X 0 0 0 STEVEN R CRAIG MD MACP BOARD MEMBER 2.00 2.00 X 0 0 0 ANDREW T FILAK JR MD BOARD MEMBER 2.00 2.00 X 0 0 0 ASQUAL GETANEH MD MPH BOARD MEMBER 2.00 2.00 X 0 0 0 MARYELLEN E GUSIC MD BOARD MEMBER 2.00 2.00 X 0 0 0 ANNE MARIE IRANI MD BOARD MEMBER 2.00 2.00 X 0 0 0 PRERNA MONA KHANNA MD BOARD MEMBER 2.00 2.00 X 0 0 0 THOMAS E NORRIS MD BOARD MEMBER 2.00 2.00 X 0 0 0 JOHN OGUNKEYE MS BOARD MEMBER 2.00 2.00 X 0 0 0 JAMES F PELEGANO MD MS BOARD MEMBER 2.00 2.00 X 0 0 0 JASON Z QU MD BOARD MEMBER 2.00 2.00 X 0 0 0 NYAPATI R RAO MD MS BOARD MEMBER 2.00 2.00 X 0 0 0 BEATRIZ WILLS MD BOARD MEMBER 2.00 2.00 X 0 0 0 JEANETTE MLADENOVIC MD MBA BOARD MEMBER ECFMG/FAIMER PRESIDENT 2.00 40.00 X 482648 0 118127 LISA COVER SR VP, BIZ DEV.&OPS. (THRU 2/28/21) 40.00 0.00 X 584885 0 6933 FRANCINE KATZ SENIOR V. PRESIDENT/GENERAL COUNSEL 40.00 0.00 X 410777 0 105723 STEVEN KIRKPATRICK EXECUTIVE VP 40.00 0.00 X 402492 0 104479 JOSHUA M KISVER SENIOR VP OF FINANCE AND CFO 40.00 2.00 X 300061 0 88179 KATHLEEN WILLIAMSON SENIOR VP & CHIEF PEOPLE OFFICER 40.00 0.00 X 310130 0 67656 KARA OLEYN VICE PRESIDENT, OPERATIONS, COO 40.00 0.00 X 300362 0 74546 TRACY WALLOWICZ ASST.VP&CHF. OF STAFF, ECFMG|FAIMER 40.00 2.00 X 204577 0 57798 MAUREEN SABO ASST. VICE PRESIDENT (THRU 6/25/21) 40.00 0.00 X 177058 0 0 ROBERT BARTELT SR. VICE PRESIDENT OF SHARED SER. 40.00 0.00 X 378959 0 75154 MICHAEL SCHULZ ASSOCIATE CIO 40.00 0.00 X 251657 0 56395 MONCRIEFF WATSON ASSIST. VP & CHIEF TECH OFFICER 40.00 0.00 X 249262 0 55801 AJAY RAINA DBA MANAGER 40.00 0.00 X 216560 0 60096 TRACY GILL AVP, PROGRAMS & SERVICES 40.00 0.00 X 205612 0 58317 ELIZABETH M INGRAHAM ASST. VP FOR COMM. & EXRNL AFFAIRS 40.00 0.00 X 200117 0 53208 5598130 0 1169261 74 0 1 0 MORGAN LEWIS & BOCKIUS LLP 1701 MARKET STREET PHILADELPHIA PA 191032921 LEGAL SERVICES 575786 COASTALCLOUD HOLDINGS LLC 1 HAMMOCK BEACH PARKWAY SUITE 200 PALM COAST FL 32137 SOFTWARE DEVELOPMENT SERVICE 295208 LMK INFOTECH 6500 DUBLIN BLVD SUITE 213 DUBLIN CA 94568 SOFTWARE DEVELOPMENT SERVICE 165880 GRANT THORNTON LLP 33960 TREASURY CENTER CHICAGO IL 606943900 AUDIT AND TAX SERVICES 147078 THE LODGE AT TORREY PINES 11480 NORTH TORREY PINES ROAD LA JOLLA CA 92037 CONFERENCE SERVICE 126022 5 EXAMS/CERT SERVICES 611710 22410999 22410999 CERT VERIFICATION SVCS 611710 16825105 16825105 ELECTRONIC PORTFOLIO O 611710 6705175 6705175 ELECTRONIC RES APPL SV 611710 6353345 6353345 EXCHANGE VISITOR SPONS 900099 4964030 4964030 98769 98769 57357423 2639785 239778 2400007 30599181 14392455 3416955 16206726 -3416955 12789771 12789771 72786979 57357423 239778 15189778 1200351 1200351 170721 170721 3103748 2608654 495094 20079307 16620032 3459275 2361576 2361576 4379181 4026503 352678 1364899 1121795 243104 571781 571781 129202 129202 721805 721805 3306302 2525205 781097 2169 2169 921514 559924 361590 4556592 4528581 28011 4372352 2872304 1500048 129184 79144 50040 460071 10797 449274 278919 264998 13921 2516049 1442092 1073957 470401 23105 447296 PAYMENT PROCESS FEES 1650255 419591 1230664 OTHER EXPENSES 331092 136054 195038 RECRUITMENT AND TRAININ 74712 74712 MAINTENANCE 27053 27053 53179236 41776344 11402892 0 0 0 2974099 3302372 0 0 21753172 24565329 0 0 0 0 0 0 0 0 2811463 2571401 42191404 29900690 11346288 12290714 0 0 124570165 122339361 44406227 48414255 0 0 14500483 5209324 222361897 218692756 8581960 6276896 0 0 10241719 10513097 717159 0 0 0 0 0 0 0 0 0 42689188 20137938 62230026 36927931 X 159881871 181514825 250000 250000 160131871 181764825 222361897 218692756 X 19607743 -1982817 4008028 X 0 1 X 1 X 72820646 76533730 80551985 54348306 57357423 341612090 72820646 76533730 80551985 54348306 57357423 341612090 0 0 0 341612090 2062791 2199332 2505864 2458912 2400007 11626906 2062791 2199332 2505864 2458912 2400007 11626906 276036 111062 232646 619744 74883437 78733062 83333885 56918280 59990076 353858740 0.96540 0.96830 0.03290 0.03060 X 4200334 3129172 1071162 6714572 4218091 2496481 2916815 2052791 864024 28359683 20500636 7859047 12290714 MASTER TRUST 121961320 F INVESTMENTS IN 457(B) PLAN 378041 F 122339361 INT IN NET ASSETS OF FAIMER 48414255 C 48414255 CAPITAL LEASE LIABILITY 10300274 LINE OF CREDT 8477675 DUE TO NBME 981948 457 (B) PLAN OBLIGATIONS 378041 20137938 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ASC TOPIC 740, INCOME TAXES DEFINES THE CONFIDENCE LEVEL THAT A TAX POSITION MUST MEET BEFORE IT CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS, AND IT REQUIRES THE EFFECTS OF A POSITION BE RECOGNIZED ONLY IF IT IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED BASED SOLELY ON ITS TECHNICAL MERITS AS OF THE REPORTING DATE. THE MORE-LIKELY-THAN-NOT THRESHOLD REPRESENTS A POSITIVE ASSERTION BY MANAGEMENT THAT THE ORGANIZATION IS ENTITLED TO THE ECONOMIC BENEFITS OF A TAX POSITION. IF A TAX POSITION IS NOT CONSIDERED MORE LIKELY THAN NOT TO BE SUSTAINED BASED SOLELY ON ITS TECHNICAL MERITS, NO BENEFITS OF THE POSITION ARE TO BE RECOGNIZED. MOREOVER, THE MORE-LIKELY-THAN-NOT THRESHOLD MUST CONTINUE TO BE MET IN EACH REPORTING PERIOD TO SUPPORT CONTINUED RECOGNITION OF A BENEFIT. FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, THE ORGANIZATION DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN THAT WOULD REQUIRE ADJUSTMENT TO ITS CONSOLIDATED FINANCIAL STATEMENTS. IN ADDITION, THE ORGANIZATION BELIEVES IT HAS NOT ENGAGED IN ANY ACTIVITIES FOR WHICH ITS TAX-EXEMPT STATUS WOULD NOT BE SUSTAINED UNDER FEDERAL EXAMINATION. THE ORGANIZATION'S TAX RETURNS FOR THE YEARS 2018 FORWARD REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING SUPPORT THE WORLD FEDERATION OF MEDICAL EDUCATION ACCREDITATION PROGRAM 167921 SUB-SAHARAN AFRICA 0 0 GRANTMAKING SUPPORT THE WORLD FEDERATION OF MEDICAL EDUCATION ACCREDITATION PROGRAM 2800 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 25709112 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICE ACTIVITIES CREDENTIALS VERIFICATION 255 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICE ACTIVITIES CREDENTIALS VERIFICATION 2345 0 0 0 0 0 0 25882433 0 25882433 EUROPE (INCLUDING ICELAND & GREENLAND) WFME PROGRAM 167921 WIRE TRANSFER 0 1 0 INTERPROFESSIONAL EDUCATION STUDENT VIRTUAL EXCHANGE PROGRAM EAST ASIA AND THE PACIFIC 1 2800 WIRE TRASFER 0 1 0 1 1 0 0 PART I, LINE 2: THE ORGANIZATION REGULARLY COMMUNICATES WITH GRANTEES AND RECEIVES WRITTEN REPORTS ONCE A YEAR. PART III ACCOUNTING METHOD: 1 FAIMER 3624 MARKET STREET PHILADELPHIA PA 19104 233057423 501(C)(3) 1200351 0 SUPPORT TO FAIMER 1 0 PART I, LINE 2: ALL GRANTS ARE MADE TO THE FOUNDATION FOR ADVANCEMENT OF INTERNATIONAL MEDICAL EDUCATION AND RESEARCH, A RELATED SUPPORTING ORGANIZATION WHICH IS CONTROLLED AND OPERATED BY ECFMG. SUCH GRANTS SUPPORT ORGANIZATION'S EXEMPT PURPOSE. X X X 1 1 X X X X X 1 0 0 0 0 0 0 1 0 WILLIAM W PINSKY MD BOARD CHAIR/ PRESIDENT/CEO 813369 0 4000 0 105604 0 34800 0 152049 0 1109822 0 0 0 JEANETTE MLADENOVIC MD MBA BOARD MEMBER ECFMG/FAIMER PRESIDENT 439644 0 4000 0 39004 0 38363 0 79764 0 600775 0 0 0 LISA COVER SR VP, BIZ DEV.&OPS. (THRU 2/28/21) 123829 0 0 0 461056 0 5800 0 1133 0 591818 0 0 0 FRANCINE KATZ SENIOR V. PRESIDENT/GENERAL COUNSEL 335073 0 4000 0 71704 0 34800 0 70923 0 516500 0 0 0 STEVEN KIRKPATRICK EXECUTIVE VP 396959 0 4000 0 1533 0 34800 0 69679 0 506971 0 0 0 ROBERT BARTELT SR. VICE PRESIDENT OF SHARED SER. 347454 0 4000 0 27505 0 34800 0 40354 0 454113 0 0 0 JOSHUA M KISVER SENIOR VP OF FINANCE AND CFO 275065 0 4000 0 20996 0 33000 0 55179 0 388240 0 0 0 KATHLEEN WILLIAMSON SENIOR VP & CHIEF PEOPLE OFFICER 291346 0 4000 0 14784 0 31548 0 36108 0 377786 0 0 0 KARA OLEYN VICE PRESIDENT, OPERATIONS, COO 265741 0 4000 0 30621 0 31890 0 42656 0 374908 0 0 0 MICHAEL SCHULZ ASSOCIATE CIO 247657 0 4000 0 0 0 29695 0 26700 0 308052 0 0 0 MONCRIEFF WATSON ASSIST. VP & CHIEF TECH OFFICER 245262 0 4000 0 0 0 29438 0 26363 0 305063 0 0 0 AJAY RAINA DBA MANAGER 211220 0 4000 0 1340 0 24608 0 35488 0 276656 0 0 0 TRACY GILL AVP, PROGRAMS & SERVICES 200962 0 4000 0 650 0 24130 0 34187 0 263929 0 0 0 TRACY WALLOWICZ ASST.VP&CHF. OF STAFF, ECFMG|FAIMER 200577 0 4000 0 0 0 24103 0 33695 0 262375 0 0 0 ELIZABETH M INGRAHAM ASST. VP FOR COMM. & EXRNL AFFAIRS 196163 0 3954 0 0 0 24295 0 28913 0 253325 0 0 0 MAUREEN SABO ASST. VICE PRESIDENT (THRU 6/25/21) 99808 0 0 0 77250 0 0 0 0 0 177058 0 0 0 PART I, LINE 1A TRAVEL REIMBURSEMENT AND TAXABILITY FOR TRUSTEES - REIMBURSEMENT FOR AIR TRAVEL IS BASED ON FIRST CLASS ACCOMMODATIONS FOR FLIGHTS GREATER THAN 1,000 MILES IN DISTANCE. TRUSTEES HAVE THE OPTION TO APPLY THE COST OF A FIRST CLASS TICKET TOWARD TWO COACH FARE TICKETS TO COVER TRAVEL FOR SPOUSES WHEN ATTENDING MEETINGS OF THE ECFMG BOARD AND COMMITTEES OR CARRYING OUT OTHER OFFICIAL ECFMG DUTIES. HOWEVER, ONLY THE AMOUNT APPLICABLE TO TRAVEL FOR THE ECFMG BOARD MEMBER MAY BE CONSIDERED A BONA FIDE EXPENSE. TRAVEL EXPENSES FOR THE SPOUSE OF AN ECFMG BOARD MEMBER ARE REPORTED ON A SEPARATE TRAVEL AND EXPENSE REPORT AND REPORTED ON FORM 1099, ASSUMING THE AMOUNT IS GREATER THAN $600 DURING THE COURSE OF THE CALENDAR YEAR. FOR EMPLOYEES - REIMBURSEMENT OF BUSINESS CLASS (FIRST CLASS TRAVEL WHEN BUSINESS CLASS IS NOT AVAILABLE) FOR TRIPS WITHIN THE UNITED STATES ARE PAID WHEN COACH CLASS FLIGHTS WOULD RESULT IN A FLIGHT OF FIVE (5) HOURS OR MORE IN DURATION. DUE TO THE LENGTH OF INTERNATIONAL FLIGHTS, EMPLOYEES MAY TRAVEL ECONOMY PLUS (BUSINESS CLASS WHEN ECONOMY PLUS IS NOT AVAILABLE) ON FLIGHTS OF FIVE (5) HOURS OR GREATER IN DURATION. HEALTH OR SOCIAL CLUB DUES THE CHIEF EXECUTIVE OFFICER ("CEO") HAS A MEMBERSHIP TO THE UNION LEAGUE OF PHILADELPHIA THAT IS USED PRINCIPALLY FOR BUSINESS PURPOSES. IF IN THE EVENT ANY PORTION OF THE EXPENSES IS CONSIDERED PERSONAL USE, THE CEO REIMBURSES THE ORGANIZATION FOR THE AMOUNT CHARGED. PART I, LINE 4A ECFMG MADE SEVERANCE PAYMENTS OF $295,083 TO LISA COVER, FORMER VP OF BUSINESS DEVELOPMENT & OPERATIONS AND $77,250 TO MAUREEN SABO, FORMER ASSISTANT VICE PRESIDENT. PART I, LINE 7 ECFMG OFFERS AN EXECUTIVE INCENTIVE PLAN TO REWARD PARTICIPANTS FOR ACHIEVING DEFINED OBJECTIVES WHICH INCLUDE FINANCIAL PERFORMANCE. FORM 990, PART III, LINE 3 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. FORM 990, PART VI, SECTION B, LINE 11B 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. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15 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. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN FAIMER 4,008,028. FOUND FOR ADV OF INTL MED EDU & RES 3624 MARKET STREET PHILADELPHIA PA 19104 233057423 PROMOTE INTERNATIONAL MEDICAL EDUCATION PA 501(C)(3) LINE 12A, I ECFMG 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 FOUND FOR ADV OF INTL MED EDU & RES B 1200351 FMV