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      <ProgramServiceRevenue>
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        <Title>LEGAL AFFAIRS SR MGR</Title>
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        <NamePerson>ELIZABETH RUSSELL</NamePerson>
        <Title>GOVERNMENT AFFAIRS</Title>
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    <IRS990ScheduleL documentId="RetDoc1042800001">
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>CARMEN CATIZONE</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <AmountOfTransaction>833546</AmountOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
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        <Identifier>SCH. L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:</Identifier>
        <Explanation>(A) NAME OF PERSON: CARMEN CATIZONE(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION:CARMEN CATIZONE IS A GOVERNOR OF PTCB AND THE EXECUTIVE DIRECTOR OF NABP.(C) AMOUNT OF TRANSACTION $ 833,546(D) NAPB HAS A NONCONTROLLING INVESTMENT INTEREST IN PTCB (A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(6)), FROM WHICH NABP RECEIVES DISTRIBUTIONS FROM PTCB'S NET EARNINGS. NABP RECORDS ITS INVESTMENT AT CARRYING VALUE, SUBJECT TO INVESTMENT GAINS OR LOSSES BASED ON THE NET EARNINGS OR LOSSES OF PTCB.(E) SHARING OF ORGANIZATION'S REVENUES? = NO</Explanation>
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      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 6</ReturnReference>
        <Explanation>NABP MEMBERSHIP IS COMPOSED OF BOTH ACTIVE MEMBERS AND ASSOCIATE MEMBERS. ACTIVE MEMBERS CONSIST OF STATE BOARDS IN THE UNITED STATES AND BOARDS IN UNITED STATES TERRITORIES. ASSOCIATE MEMBERS CONSIST OF BOARDS IN INTERNATIONAL JURISDICTIONS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7A</ReturnReference>
        <Explanation>MEMBERS OF THE GOVERNING BODY ARE ELECTED BY THE ACTIVE MEMBERS OF THE ASSOCIATION AT AN ANNUAL MEETING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE ORGANIZATION PROVIDES COPIES OF THE INFORMATION RETURN TO ITS TREASURER FOR HIS/HER REVIEW. IN ADDITION, THE BOARD MEMBERS ARE NOTIFIED THAT THE INFORMATION RETURNS ARE AVAILABLE FOR THEIR REVIEW IF THEY DESIRE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>THE CONFLICT OF INTEREST POLICY IS PRINTED AND INCLUDED WITH ALL MEETING MATERIALS. AT THE START OF A MEETING, THE CHAIRPERSON BRINGS THE POLICY TO THE ATTENTION OF THE COMMITTEE MEMBERS FOR ASSURANCE THAT THE POLICY IS BEING FOLLOWED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>CONSULTANTS ARE PERIODICALLY HIRED TO COMPLETE A FULL COMPENSATION ANALYSIS. IN YEARS WHERE A COMPENSATION STUDY IS NOT PREPARED, COMPARABLE DATA IS OBTAINED THROUGH ASSOCIATION SOURCES TO ENSURE THAT COMPENSATION LEVELS ARE WITHIN THE REGIONAL NORMS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>NABP'S CONSTITUTION AND BYLAWS ARE AVAILABLE ON ITS WEBSITE. THE CONFLICT OF INTEREST POLICY IS GENERALLY NOT AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO NABP MEMBER BOARDS UPON REQUEST. THE FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OTHER FEES</Identifier>
        <ReturnReference>FORM 990, PART IX, LINE 11G</ReturnReference>
        <Explanation>GENERAL CONSULTANTS: PROGRAM SERVICE EXPENSES 334,218. MANAGEMENT AND GENERAL EXPENSES 31,954. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 366,172. TEST ADMIN: PROGRAM SERVICE EXPENSES 4,164,179. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,164,179. HONORARIA: PROGRAM SERVICE EXPENSES 72,288. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 72,288. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 614,130. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 614,130.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 9:</ReturnReference>
        <Explanation>INVESTMENT GAIN ON PTCB - NET 833,546.</Explanation>
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          <BusinessNameLine1>NATIONAL ASSOCIATION OF BOARDS OF PHARMACY FOUNDATION</BusinessNameLine1>
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          <AddressLine1>1600 FEEHANVILLE</AddressLine1>
          <City>MT PROSPECT</City>
          <State>IL</State>
          <ZIPCode>60056</ZIPCode>
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        <PrimaryActivities>CONTINUING EDUCATION AND VOLUNTARY COMPLIANCE WITH PHARMACY AND DRUG LAWS.</PrimaryActivities>
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        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 9</PublicCharityStatus>
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          <BusinessNameLine1>NATIONAL ASSOCIATION OF BOARDS OF PHARMACY</BusinessNameLine1>
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