2025-08-21T11:27:03-05:00 2024-12-31 233018514 DUNLAPSLK PC 1300 HORIZON DRIVE SUITE 106 CHALFONT PA 18914 990 2024-01-01 232026352 TRUMERIT TRUM 2152228454 3600 MARKET STREET SUITE 400 PHILADELPHIA PA 19104 LEO CLAYBOSS CHIEF FINANCIAL OFFICER 2152228454 2025-07-08 1 1 JULIA L DAVIS P00163568 2675943755 2025-07-08 2024 2025-03-06 01:10:19Z PETER PREZIOSI 3600 MARKET STREET SUITE 400 PHILADELPHIA PA 19104 46606704 0 X TRUMERIT.ORG X 1977 PA TO VALIDATE THE CREDENTIALS OF FOREIGN EDUCATED HEALTHCARE PROFESSIONALS TO HELP ENSURE PUBLIC SAFETY IN THE DELIVERY OF HEALTH CARE IN THE UNITED STATES, CANADA AND NEW ZEALAND. 11 11 308 76 0 0 0 0 54525667 42006824 3079254 3211648 160300 67263 57765221 45285735 0 0 0 0 18693039 21882025 0 0 0 10482556 11451081 29175595 33333106 28589626 11952629 67820090 77646069 18849037 16339595 48971053 61306474 X IN RECOGNITION AND FULFILLMENT OF ITS CHARITABLE, EDUCATIONAL AND SCIENTIFIC MISSION AND TO HELP ENSURE THAT FOREIGN EDUCATED NURSES AND CERTAIN OTHER HEALTHCARE PROFESSIONALS WHO DESIRE TO GAIN EMPLOYMENT WITHIN THE U.S., CANADIAN AND NEW ZEALAND HEALTHCARE DELIVERY SYSTEMS HAVE OBTAINED THE REQUIRED EDUCATION AND TRAINING, AND THEREBY HELPING TO ENSURE THE QUALITY OF HEALTHCARE PROVIDED IN THE U.S., CANADA AND NEW ZEALAND, TRUMERIT PROVIDES A NURSING KNOWLEDGE CERTIFICATION PROGRAM FOR FOREIGN EDUCATED NURSES, AND VARIOUS ASSESSMENT AND VERIFICATION SERVICES OF CREDENTIALS THAT ARE USED BY FEDERAL, STATE AND PROVINCIAL AGENCIES IN MAKING A DETERMINATION WHETHER TO PERMIT THOSE NURSES AND HEALTHCARE PROFESSIONALS TO BECOME ELIGIBLE FOR LICENSURE AND EMPLOYMENT WITHIN THE U.S., CANADIAN AND NEW ZEALAND HEALTHCARE DELIVERY SYSTEMS. 0 0 15304757 21415181 VARIOUS CREDENTIALS EVALUATION SERVICES FOR FOREIGN HEALTHCARE PROFESSIONALS ARE PERFORMED THAT CONSIST OF AN EVALUATION OF FOREIGN LICENSURE AND FOREIGN ACADEMIC RECORDS IN TERMS OF U.S. COMPARABILITY AND/OR FOR AUTHENTICITY. DURING THE YEAR APPROXIMATELY 49,900 APPLICATIONS WERE REVIEWED AND ASSESSED AND 42,848 REPORTS WERE ISSUED. 4966827 16882461 VISASCREEN CERTIFICATION IS PROVIDED UNDER A FEDERAL SCREENING PROGRAM FOR INTERNATIONAL HEALTHCARE PROFESSIONALS SEEKING A U.S. OCCUPATIONAL VISA THAT COMPRISE AN EDUCATIONAL ANALYSIS, LICENSURE VERIFICATION, AN ENGLISH PROFICIENCY ASSESSMENT, AND IN THE CASE OF NURSES, A TEST OF NURSING KNOWLEDGE. DURING THE YEAR APPROXIMATELY 26,300 APPLICATIONS WERE REVIEWED AND ASSESSED AND 22,384 CERTIFICATES WERE ISSUED. 3009452 3440386 THE NATIONAL NURSING ASSESSMENT SERVICE IS A PROGRAM TO CREDENTIAL INTERNATIONALLY EDUCATED NURSES WHO SEEK EMPLOYMENT IN THE CANADIAN HEALTHCARE SYSTEM. THE CREDENTIALING UTILIZES CURRICULUM, COURSE SYLLABUS, AND OTHER DOCUMENTS, PRINCIPALLY FROM SOURCE EDUCATIONAL INSTITUTIONS AND AGENCIES, TO EVALUATE THE INTERNATIONALLY EDUCATED NURSE IN TERMS OF CANADIAN NURSING PRACTICE. DURING THE YEAR, APPROXIMATELY 6,400 APPLICATIONS WERE REVIEWED AND ASSESSED AND 6,359 REPORTS WERE ISSUED. 865296 198160 THE NURSING KNOWLEDGE CERTIFICATION PROGRAM CONSISTS OF A CREDENTIALS REVIEW, A TEST OF ENGLISH PROFICIENCY AND A TEST OF NURSING KNOWLEDGE (QUALIFYING EXAM). DURING THE YEAR, APPROXIMATELY 370 APPLICATIONS WERE REVIEWED, 364 WERE ASSESSED AND QUALIFIED FOR THE TEST OF NURSING KNOWLEDGE, AND 65 CERTIFICATES WERE ISSUED TO SUCCESSFUL APPLICANTS. 324059 70636 CERTIFICATION OF ETHICAL RECRUITER SERVICES PROVIDED TO HELP ENSURE THAT INTERNATIONAL RECRUITMENT IS CONDUCTED IN A FAIR AND TRANSPARENT MANNER BY CERTIFYING RECRUITERS AND EMPLOYERS WHO ADHERE TO THE VOLUNTARY CODE OF ETHICAL CONDUCT FOR THE RECRUITMENT OF FOREIGN-EDUCATED HEALTH PROFESSIONALS. 81411 67263 OTHER PROGRAM REVENUES CONSIST OF SERVICES FOR HEALTHCARE CONSULTING, PROGRAM DATA ANALYTICS, AND OTHER. 1270766 336059 24551802 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 26 0 308 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X LEO CLAYBOSS CHIEF FINANCIAL OFFICER 2152228454 3600 MARKET ST SUITE 400 PHILADELPHIA PA 19104 PETER PREZIOSI PRESIDENT AND CEO 40.00 X 700000 0 15314 LEO CLAYBOSS CHIEF FINANCIAL OFFICER 40.00 X 282494 0 21077 LEA SIMS DIRECTOR OF MARKETING 40.00 X 261058 0 19260 MUKUL BAKHSHI DIRECTOR OF GOVERNMENT AFF 40.00 X 256058 0 26094 NISH JAYAMOHAN DIRECTOR OF INFORMATION TECHNOLOGY 40.00 X 249046 0 15626 ROBIN JENKINS DIRECTOR OF ALLIED HEALTH 40.00 X 224498 0 11753 KRIKOR SIMONIAN DIRECTOR OF PROJECT MANAGEMENT 40.00 X 220000 0 3020 FRANKLIN SHAFFER FORMER PRESIDENT AND CEO, 0.00 X 235308 0 0 SELENA ANN GILLES TRUSTEE 2.00 X 0 0 0 BARBARA GREEN TRUSTEE 2.00 X 0 0 0 SYLVAIN TREPANIER TRUSTEE 2.00 X 0 0 0 STACEY OCANDER TRUSTEE 2.00 X 0 0 0 SUJA THOMAS TRUSTEE 2.00 X 0 0 0 ZAINAB OSAKWE TRUSTEE 2.00 X 0 0 0 TIMOTHY L VIDALE TRUSTEE 2.00 X 0 0 0 PAMELA MARALDO CHAIR 2.00 X X 0 0 0 JULIE FAIRMAN VICE CHAIR 2.00 X X 0 0 0 JACK NEEDLEMAN TREASURER 2.00 X X 0 0 0 LYNWOOD BROOKS SECRETARY 2.00 X X 0 0 0 2428462 0 112144 37 1 1 0 JTODUTKA ASSOCIATES LLC 13 TIFFANY DRIVE LIVINGSTON NJ 07039 BUSINESS STRATEGY AND CONSULTING 360458 THIRTYNORTH LLC 195 N HARBOR DR SUITE 3401 CHICAGO IL 60601 INFORMATION TECHNOLOGY CONSULTING 336244 YASH AND LUJAN CONSULTING 5750 EPSILON SAN ANTONIO TX 78249 INFORMATION TECHNOLOGY CONSULTING 333164 EIGEN X LLC 170 N RADNOR CHESTER ROAD RADNOR PA 19087 INFORMATION TECHNOLOGY CONSULTING 302448 EXPANDTREE INC 700 MARKET STREET STE 205 CEDAR PARK TX 78613 OPERATION CONTRACT SERVICE 188460 10 CREDENTIALS EVAL. FEES 541900 21415181 21415181 VISASCREEN FEES 541900 16882461 16882461 NNAS PROGRAM FEES 541900 3440386 3440386 CERTIFICATION PROG FEES 541900 198160 198160 TRUMERIT ALLIANCE FEES 541900 70636 70636 42006824 3082724 3082724 1449893 1320969 128924 128924 128924 MISCELLANEOUS REVENUE 541900 52263 52263 PROGRAM DATA ANALYTICS REVENUE 541900 15000 15000 67263 45285735 42074087 0 3211648 1054640 170040 884600 17299233 13128763 4170470 338156 280087 58069 1830378 1470161 360217 1359618 1048252 311366 323927 68295 255632 38065 38065 56073 56073 2329370 1308870 1020500 322258 322258 473758 264948 208810 2863195 2813590 49605 532939 254042 278897 506524 159957 346567 156959 33342 123617 681639 498787 182852 276833 179941 96892 IMPAIRMENT LOSS 1681790 1681790 CREDIT CARD AND BANK FE 1098393 1081579 16814 TEST DEVELOPMENT AND AD 77399 77399 DOCUMENT FEES 31959 31959 33333106 24551802 8781304 0 800 53599221 63803274 1248235 2316838 12176419 8495136 3851894 3681283 7278945 7536375 1840995 308299 67820090 77646069 3124753 3267054 15724284 13072541 18849037 16339595 X 48971053 61306474 48971053 61306474 67820090 77646069 11952629 382792 0 X X 0 1 X 1 0 X 20000 4041900 4061900 14582236 19454854 27725919 54525667 42006824 158295500 14602236 23496754 27725919 54525667 42006824 162357400 0 0 0 162357400 214460 316920 620599 2283044 3082724 6517747 214460 316920 620599 2283044 3082724 6517747 52400 147398 33070 160252 67263 460383 14869096 23961072 28379588 56968963 45156811 169335530 0.95880 0.97050 0.03850 0.02660 X 7590259 4891298 2698961 4586160 3603838 982322 3681283 X 45612454 382792 382792 45229662 56073 56073 45285735 33277033 0 33277033 56073 56073 33333106 PART X, LINE 2: TRUMERIT ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN THE CURRENT OR PRIOR YEAR. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ADMINISTER NURSING QUALIFYING EXAM AND EXPLORE NEW CREDENTIAL EVALUATION SERVICE OPPORTUNITIES 31887 EUROPE 0 2 PROGRAM SERVICES EXPLORE NEW CREDENTIAL EVALUATION SERVICE OPPORTUNITIES 143093 NORTH AMERICA 0 2 PROGRAM SERVICES EXPLORE NEW CREDENTIAL EVALUATION SERVICE OPPORTUNITIES 147044 SOUTH ASIA 0 3 PROGRAM SERVICES EXPLORE NEW CREDENTIAL EVALUATION SERVICE OPPORTUNITIES 133686 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES EXPLORE NEW CREDENTIAL EVALUATION SERVICE OPPORTUNITIES 10693 SUB SAHARAN AFRICA 0 0 PROGRAM SERVICES EXPLORE NEW CREDENTIAL EVALUATION SERVICE OPPORTUNITIES 4692 0 7 0 0 0 7 471095 0 471095 0 0 0 0 0 0 1 X X X X 0 0 0 0 0 0 0 0 0 PETER PREZIOSI PRESIDENT AND CEO 500000 0 200000 0 0 0 8077 0 7237 0 715314 0 0 0 LEO CLAYBOSS CHIEF FINANCIAL OFFICER 282394 0 0 0 100 0 13814 0 7263 0 303571 0 0 0 LEA SIMS DIRECTOR OF MARKETING 241058 0 20000 0 0 0 6573 0 12687 0 280318 0 0 0 MUKUL BAKHSHI DIRECTOR OF GOVERNMENT AFF 241058 0 15000 0 0 0 12537 0 13557 0 282152 0 0 0 NISH JAYAMOHAN DIRECTOR OF INFORMATION TECHNOLOGY 249046 0 0 0 0 0 3635 0 11991 0 264672 0 0 0 ROBIN JENKINS DIRECTOR OF ALLIED HEALTH 224498 0 0 0 0 0 4490 0 7263 0 236251 0 0 0 KRIKOR SIMONIAN DIRECTOR OF PROJECT MANAGEMENT 220000 0 0 0 0 0 2115 0 905 0 223020 0 0 0 FRANKLIN SHAFFER FORMER PRESIDENT AND CEO, 0 0 235308 0 0 0 0 0 0 0 235308 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION CHANGED THEIR NAME FROM CGFNS INTERNATIONAL, INC. TO TRUMERIT. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES DELEGATED TO THE AUDIT COMMITTEE THE RESPONSIBILITY TO REVIEW THE FORM 990 BEFORE IT IS FILED. EACH MEMBER OF THE AUDIT COMMITTEE REVIEWS THE DRAFT FORM 990 WHICH IS PREPARED UNDER THE DIRECTION OF THE ORGANIZATION'S CHIEF FINANCIAL OFFICER. THE AUDIT COMMITTEE THEN MEETS AS A GROUP TO DISCUSS THE DRAFT FORM 990. THE PRESIDENT AND CHIEF EXECUTIVE OFFICER (CEO), THE CHIEF FINANCIAL OFFICER, TRUMERIT'S INDEPENDENT AUDITOR, AND THE GENERAL COUNSEL ATTEND THE MEETING TO ANSWER QUESTIONS POSED BY MEMBERS OF THE AUDIT COMMITTEE. BASED UPON THEIR REVIEW AND ANSWERS TO ANY QUESTIONS POSED, THE AUDIT COMMITTEE MAY (OR MAY NOT) RECOMMEND THAT AMENDMENTS TO THE DRAFT FORM 990 BE MADE. THE DRAFT FORM 990 IS PROVIDED TO ALL TRUSTEES FOR THEIR REVIEW AND COMMENT VIA THE BOARD OF TRUSTEES' SECURE WEBSITE. AT THE NEXT SCHEDULED MEETING OF THE BOARD OF TRUSTEES, THE AUDIT COMMITTEE CHAIR REPORTS ON THE AUDIT COMMITTEE'S REVIEW OF THE DRAFT FORM 990 AND ANY AMENDMENTS RECOMMENDED BY THE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C PURSUANT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, ON AN ANNUAL BASIS MEMBERS OF THE BOARD OF TRUSTEES AND THE CEO ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE AND SUBMIT IT TO THE BOARD CHAIR. ANY IDENTIFIED CONFLICTS ARE REVIEWED BY THE BOARD AND THE GENERAL COUNSEL AND APPROPRIATE ACTION IS TAKEN. APPROPRIATE ACTION MAY RANGE FROM REQUIRING THE TRUSTEE TO RECUSE HIMSELF OR HERSELF FROM ANY DISCUSSION AND VOTE CONCERNNG THE IDENTIFIED CONFLICT, UP TO AND INCLUDING REQUIRING THE TRUSTEE TO RESIGN FROM THE BOARD DUE TO THE IDENTIFIED CONFLICT. IF A CONFLICT ARISES DURING THE YEAR, THE TRUSTEE OR CEO IS REQUIRED TO CONTACT THE BOARD CHAIR AND THE GENERAL COUNSEL. IF REQUIRED, THE BOARD CHAIR MAY CALL AN EXECUTIVE COMMITTEE MEETING TO REVIEW THE IDENTIFIED CONFLICT, AND TAKE ANY REQUIRED ACTION. ALSO, AT EACH ORIENTATION OF NEW BOARD AND COMMITTEE MEMBERS AND ANNUALLY AT A BOARD OF TRUSTEES MEETING THE GENERAL COUNSEL MAKES A PRESENTATION CONCERNING THE CONFLICT OF INTEREST POLICY. OTHER OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE THE SAME CONFLICT OF INTEREST QUESTIONNAIRE AS THE BOARD MEMBERS AND SUBMIT IT TO THE CEO. IF CONFLICTS ARE IDENTIFIED DURING THE YEAR, THE OTHER OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO CONTACT THE CEO TO DISCUSS THE CONFLICT. THE CEO MAY CONSULT WITH THE GENERAL COUNSEL TO DETERMINE APPROPRIATE ACTION, RANGING FROM NO ACTION TO REQUIRING RESIGNATION FROM THE ORGANIZATION DUE TO THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A: DURING THE FOURTH QUARTER OF EACH YEAR, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS WITH THE CEO TO ESTABLISH ANNUAL PRIORITIES AND GOALS, BASED UPON THE STRATEGIC PLAN, FOR THE UPCOMING YEAR. THESE PRIORITIES AND GOALS ARE INCORPORATED INTO THE CEO'S INCENTIVE COMPENSATION. AN ANNUAL SELF-EVALUATION IS SUBMITTED BY CEO TO THE EXECUTIVE COMMITTEE DURING THE FIRST QUARTER OF THE YEAR THAT INCLUDES A MEASUREMENT OF ATTAINMENT OF THE PRIOR YEAR'S PRIORITIES AND GOALS. COMPARABILITIY COMPENSATION INFORMATION BASED UPON A SURVEY BY AN INDEPENDENT EXTERNAL CONSULTANT AND THE CEO'S CURRENT COMPENSATION ARE ALSO PROVIDED TO THE EXECUTIVE COMMITTEE. EACH MEMBER OF THE EXECUTIVE COMMITTEE REVIEWS THE INFORMATION PROVIDED AND THEN MEETS AS A COMMITTEE TO DISCUSS THE CEO'S SELF-EVALUATION, PERFORMANCE MEASURED AGAINST THE ESTABLISHED PRIORITIES AND GOALS, COMPARABILITY COMPENSATION INFORMATION, AND THE CEO'S CURRENT COMPENSATION. BASED UPON THEIR REVIEW, A RECOMMENDATION FOR AN INCENTIVE COMPENSATION AWARD AND AN ADJUSTMENT (OR NO ADJUSTMENT) TO THE CEO'S COMPENSATION IS MADE TO THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES ENTERTAINS THE EXECUTIVE COMMITTEE'S RECOMMENDATION AND TAKES BOARD ACTION THROUGH A VOTE. BASED UPON THAT VOTE, A LETTER IS DRAFTED BY THE SECRETARY OF THE BOARD OF TRUSTEES AND SENT TO THE HUMAN RESOURCES DIRECTOR INDICATING THE APPROVED ACTION BY THE BOARD OF TRUSTEES. ANY INCENTIVE COMPENSATION AWARDS OR ADJUSTMENTS TO THE CEO'S COMPENSATION ARE MADE AT THAT TIME. LINE 15B: THROUGH THE BUDGET PROCESS AN AGGREGATE SALARY ADJUSTMENT IS APPROVED BY THE BOARD OF TRUSTEES FOR THE OTHER OFFICERS AND KEY EMPLOYEES, AS WELL AS FOR ALL OTHER EMPLOYEES. BIANNUALLY, THE HUMAN RESOURCE DIRECTOR REVIEWS COMPENSATION, JOB DESCRIPTIONS AND GRADE LEVELS IN ORDER TO ESTABLISH CURRENCY AND COMPETITIVENESS IN THE MARKETPLACE. SALARY SURVEY DATA IS OBTAINED FROM SEVERAL SOURCES ON AN ANNUAL BASIS. PERIODICALLY A SALARY SURVEY IS CONDUCTED BY AN OUTSIDE CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 TRUMERIT IS REGISTERED WITH THE COMMONWEALTH OF PENNSYLVANIA TO SOLICIT CONTRIBUTIONS AND ACCORDINGLY, THE ORGANIZATION IS REQUIRED TO MAKE ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE ORGANIZATION MAY CHARGE A SMALL FEE TO COVER THE COST OF COPYING AND MAILING THE FINANCIAL STATEMENTS. AT THIS TIME, THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC BECAUSE THE LAW DOES NOT REQUIRE THEM TO BE MADE AVAILABLE TO THE PUBLIC. PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND THE SELECTION OF THE INDEPENDENT AUDITORS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PART V, LINE 7G AND 7H TRUMERIT DID NOT RECEIVE ANY CONTRIBUTIONS OF QUALIFIED INTELLECTUAL PROPERTY OR ANY CONTRIBUTIONS OF CARS, BOATS, AIRPLANES AND OTHER VEHICLES. THEREFORE, THE ORGANIZATION IS NOT SUBJECT TO THE FILING REQUIREMENTS FOR THESE TYPES OF CONTRIBUTIONS. SCHEDULE F, PART I, LINE 1 TRUMERIT DOES NOT GIVE GRANTS OR ASSISTANCE, THEREFORE THIS QUESTION IS NOT APPLICABLE. INTERNATIONAL CENTER FOR NURSE MIGRATION 3600 MARKET STREET SUITE 400 PHILADELPHIA PA 19104 GLOBAL RESOURCE FOR INFORMATION ON NURSE MIGRATION PA N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0