Nbme

What it reported doing in 2024

The Growth and Innovation unit includes the Office of Research which supports NBMEs research enterprise by coordinating NBMEs research efforts across the organization and ensuring that NBMEs research portfolio is consistent with institutional priorities. In addition to these defined programs of research and development, each program area and service unit is charged to carry on a program of research and development relevant to the work of the program or unit, for example, development of new item formats for USMLE, exploring relationships between prior measures and certifying exam performance for those we serve and developing new testing methods for those we serve. These research and development activities result in the publication of dozens of research reports in scientific journals and presentations at scientific meetings each year.The Office of Research is responsible for conducting research related to improving the quality and efficiency of NBME products, services, and procedures. It is also aimed at developing capabilities that allow NBME to expand its range of assessments both geographically and across the health professions. In addition to this work, the Office of Research provides non-routine technical support to other organizational divisions and subunits and conducts research to contribute to the field of measurement.This unit delivers information vital for planning strategy related to innovative assessments to meet stakeholder needs. They support conception and market testing of product ideas and the research to investigate and sustain products and services.On January 31, 2024, NBME completed the acquisition of the assets of MedVR Education (MedVR), a business segment of ELearning Design Center, LLC, based in South Lyon, Michigan. MedVR is an extended reality platform that offers both off-the-shelf and customized virtual reality simulation training solutions for patient care, critical care nursing skills, and health care management utilized by universities and healthcare institutions.The primary reasons for the acquisition included expanding NBME's capabilities in innovation and enhancing its portfolio of advanced educational technologies. Specifically, NBME acquired MedVR to leverage its leading technology in simulation-based learning to support NBMEs strategic objective of developing new tools and assessments that support learners throughout their medical education.

Financial Efficiency

• Mission deployment rate: 75.1%; rating input score 75
• Program expense ratio: 80.3%; rating input score 80
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 17th percentile among comparable filings
• Pay-setting controls: 6 of 6 controls in place; rating input score 100
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 0 of 8 controls in place; rating input score 0
  • Claims monitoring procedures: Limited
  • Requires narrative reports: Limited
  • Conducts field audits: Limited
  • May suspend future funding: Limited
  • Requires financial reports: Limited
  • Conducts site visits: Limited
  • Requires grant agreements: Limited
  • May require repayment: Limited
• Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 91.7%; rating input score 92; 40th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 5.9%; rating input score 60; 60th percentile among comparable filings
• Total-asset coverage ratio: 2.56; rating input score 71; 71st percentile among comparable filings
• Liabilities to assets ratio: 0.19; rating input score 70; 70th percentile among comparable filings
• Officer compensation ratio: 5.1%; rating input score 16; 16th percentile among comparable filings

Growth

• Program expense growth: 2% per year; rating input score 100; 15th percentile among comparable filings
• Revenue growth: 3.2% per year; rating input score 100; 24th percentile among comparable filings
• Asset growth: 4.5% per year; rating input score 100; 31st percentile among comparable filings