Civic Intelligence

Severance Alumni Association Inc.

990 • Fiscal year 2023 • EIN 11-2387947

Nov 01, 2022 to Oct 31, 2023 • Filed on Aug 27, 2024

Organization Profile
26 Wimbledon DrRoslyn, NY 11576

(516) 455-4319

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.27x

Higher debt load relative to assets than 68% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

1.77x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Net Margin

87th percentile

39%

Higher net margin than 87% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

38th percentile

$0

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE B • $1M-$5M nonprofits • Source year 2023

Asset Growth

47th percentile

3.0%

Faster asset growth than 47% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

69th percentile

22%

Faster revenue growth than 69% of similar nonprofits.

2023 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$1,397,360

Up $40,181 (+3.0%) from 2022

Net Assets

Up

$1,020,721

Up $82,094 (+8.7%) from 2022

Liabilities

Down

$376,639

Down $41,913 (-10%) from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin87th percentile

Revenue

Up

$212,536

Up $37,926 (+22%) from 2022

Expenses

Up

$130,442

Up $39,442 (+43%) from 2022

Net Income

Down

$82,094

Down $1,516 (-1.8%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $465,971Liabilities 2011: $13,382Net Assets 2011: $452,5892011Assets 2012: $470,260Liabilities 2012: $20,752Net Assets 2012: $449,5082012Assets 2013: $450,873Liabilities 2013: $332Net Assets 2013: $450,5412013Assets 2014: $590,443Liabilities 2014: $1,179Net Assets 2014: $589,2642014Assets 2015: $525,283Liabilities 2015: $41,578Net Assets 2015: $483,7052015Assets 2016: $522,506Liabilities 2016: $131,703Net Assets 2016: $390,8032016Assets 2017: $706,872Liabilities 2017: $183,748Net Assets 2017: $523,1242017Assets 2018: $1,203,913Liabilities 2018: $516,147Net Assets 2018: $687,7662018Assets 2019: $1,186,897Liabilities 2019: $510,678Net Assets 2019: $676,2192019Assets 2020: $1,157,350Liabilities 2020: $432,389Net Assets 2020: $724,9612020Assets 2021: $1,301,457Liabilities 2021: $446,440Net Assets 2021: $855,0172021Assets 2022: $1,357,179Liabilities 2022: $418,552Net Assets 2022: $938,6272022Assets 2023: $1,397,360Liabilities 2023: $376,639Net Assets 2023: $1,020,7212023Assets 2024: $2,345,666Liabilities 2024: $276,906Net Assets 2024: $2,068,7602024

Highlighted filing

2023

Assets$1,397,360
Liabilities$376,639
Net Assets$1,020,721
Open 2023 Filing

Operations Trend

Revenue Growth69th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $249,900Expenses 2011: $194,328Net Income 2011: $55,5722011Revenue 2012: $245,765Expenses 2012: $248,846Net Income 2012: -$3,0812012Revenue 2013: $112,179Expenses 2013: $111,146Net Income 2013: $1,0332013Revenue 2014: $340,593Expenses 2014: $201,870Net Income 2014: $138,7232014Revenue 2015: $476,904Expenses 2015: $582,463Net Income 2015: -$105,5592015Revenue 2016: $428,063Expenses 2016: $520,965Net Income 2016: -$92,9022016Revenue 2017: $198,421Expenses 2017: $66,100Net Income 2017: $132,3212017Revenue 2018: $244,158Expenses 2018: $79,516Net Income 2018: $164,6422018Revenue 2019: $45,254Expenses 2019: $56,801Net Income 2019: -$11,5472019Revenue 2020: $75,689Expenses 2020: $26,947Net Income 2020: $48,7422020Revenue 2021: $173,623Expenses 2021: $43,567Net Income 2021: $130,0562021Revenue 2022: $174,610Expenses 2022: $91,000Net Income 2022: $83,6102022Revenue 2023: $212,536Expenses 2023: $130,442Net Income 2023: $82,0942023Revenue 2024: $486,302Expenses 2024: $84,622Net Income 2024: $401,6802024

Highlighted filing

2023

Revenue$212,536
Expenses$130,442
Net Income$82,094
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2022 to Oct 31, 2023
Signed
Aug 27, 2024
Return Version
2022v5.0
Gross Receipts
$212,536
Mission and Program Overview

Mission

The grant of scholarships to medical students, the organization of seminars and conferences on topics of interest to its members, and the enhancement of friendship and communication among its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,194,850$1,194,939▲ $89
Cash and Non-Interest-Bearing Accounts$162,329$202,421▲ $40,092
Total Assets$1,357,179$1,397,360▲ $40,181
Liabilities
Other Liabilities$416,489$374,329▼ $42,160
Accounts Payable and Accrued Expenses$2,063$2,310▲ $247
Total Liabilities$418,552$376,639▼ $41,913
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$850,031$979,125▲ $129,094
Net Assets With Donor Restrictions$88,596$41,596▼ $47,000
Total Net Assets Fund Balance$938,627$1,020,721▲ $82,094
Total Liabilities and Net Assets / Fund Balance$1,357,179$1,397,360▲ $40,181

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$6,069$6,069
Financial Derivatives$1,194,939--
Compensation and Service Providers
Top Officer Pay38th percentile

Board Members and Trustees

NameTitle
Heung K OhPresident
Hoon Jae ParkExecutive VP
Bong S LeeFinancial Co
Junho LeeImmediate Pa
Chang Jo ParkTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$195,447
Program Service Revenue
$0
Investment Income
$17,089
Other Revenue
$0
All Other Contributions
$114,687
Change in Net Assets
$82,094
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$51,000
Other Expenses$40,422
Salaries, Compensation, and Employee Benefits$39,020
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$51,000--$51,000
Other Salaries and Wages$5,201$26,132-$31,333
Advertising$15,000--$15,000
Office Expenses$5,151$9,566-$14,717
Fees for Services Accounting-$6,000-$6,000
Pension Plan Contributions$830$4,170-$5,000
Payroll Taxes$446$2,241-$2,687
Insurance-$165-$165
Other Expenses$1,758$125-$125
Total Functional Expenses$79,386$51,056$0$130,442
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Payable$374,329
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Each board member provides review and comments on a draft of form 990 transmitted by email.”

Form 990, Page 6, Part VI, Line 19

“These documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Severance Alumni Association Inc
EIN
11-2387947
Address
26 WIMBLEDON DR, ROSLYN, NY 11576

Signing Officer

Name
Heung K Oh
Title
President
Signed
2024-08-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heung K Oh
Formed
1977
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
1

Preparer

Firm
Kim Lee Cpas Llp
Address
663 GRAND AVE STE 3, RIDGEFIELD, NJ 07657-1521
Preparer
Clinton S Lee
Phone
2014612727
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The grant of scholarships to medical students, the organization of seminars and conferences on topics of interest to its members, and the enhancement of friendship and communication among its members.”

Raw XML Appendix344 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.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GRANT OF SCHOLARSHIPS TO MEDICAL STUDENTS, THE ORGANIZATION OF SEMINARS AND CONFERENCES ON TOPICS OF INTEREST TO ITS MEMBERS, AND THE ENHANCEMENT OF FRIENDSHIP AND COMMUNICATION AMONG ITS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD MEMBER PROVIDES REVIEW AND COMMENTS ON A DRAFT OF FORM 990 TRANSMITTED BY EMAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,397,360
Liabilities
$376,639
Net assets
$1,020,721
Revenue
$212,536
Expenses
$130,442
Net income
$82,094
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.35$0.28$2.07$0.49$0.08$0.40
2023Detailed filing. Detailed filing data is available for this year.$1.40$0.38$1.02$0.21$0.13$0.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.42$0.94$0.17$0.09$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.30$0.45$0.86$0.17$0.04$0.13
2020Detailed filing. Detailed filing data is available for this year.$1.16$0.43$0.72$0.08$0.03$0.05
2019Detailed filing. Detailed filing data is available for this year.$1.19$0.51$0.68$0.05$0.06$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.20$0.52$0.69$0.24$0.08$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.71$0.18$0.52$0.20$0.07$0.13
2016Detailed filing. Detailed filing data is available for this year.$0.52$0.13$0.39$0.43$0.52$0.09
2015Detailed filing. Detailed filing data is available for this year.$0.53$0.04$0.48$0.48$0.58$0.11
2014Detailed filing. Detailed filing data is available for this year.$0.59$0.00$0.59$0.34$0.20$0.14
2013Summary only. Only limited summary data is available for this year.$0.45$0.00$0.45$0.11$0.11$0.00
2012Summary only. Only limited summary data is available for this year.$0.47$0.02$0.45$0.25$0.25$0.00
2011Summary only. Only limited summary data is available for this year.$0.47$0.01$0.45$0.25$0.19$0.06