MASSACHUSETTS SOCIETY OF OPTOMETRI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1907

Legal Domicile

Principal Officer

WAYNE ZAHKA

Phone

5088757900

Tax Period

2023-01-01 to 2023-12-31

MASSACHUSETTS SOCIETY OF OPTOMETRISTS INC, founded in 1907, is a small nonprofit that reported $648K in total revenue in fiscal year 2023. The organization ran a surplus of $111K, a strong 17% operating margin.

Mission

TO ADVANCE THE QUALITY, AVAILABILITY AND ACCESSIBILTY OF EYE, VISION AND HEALTH CARE.THE ORGANIZATION ASSISTS ITS MEMBERS IN PRACTICING TO THE HIGHEST STANDARDS OF PATIENTCARE, PROMOTES AND SUPPORTS FULL SCOPE OF PRACTICE AND ENHANCES THE PROFESSIONAL LIVESOF ITS MEMBERS.

Program Service Accomplishments

Program 1

PROVIDING CONTINUING PROFESSIONAL EDUCATION TO ITS MEMBERS THUS HELPING TO IMPROVE THE ART AND SCIENCE OF OPTOMETRY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $635,760

Investment Income $11,793

Other Revenue $0

TOTAL REVENUE $647,553

Expense Breakdown

Grants Paid $0

Salaries & Benefits $319,705

Fundraising Expenses $0

Other Expenses $216,552

TOTAL EXPENSES $536,257

Year-over-Year Comparison

	2023	2022	Change
Revenue	$647,553	$620,919	+0.0%
Expenses	$536,257	$485,418	+0.1%
Net Income	$111,296	$135,501	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$203,840

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN WADMAN	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHAEL COHN OD	TREASURER	1.00	Officer Director	$0	$0	$0
MELANIE MCBETH OD	SECRETARY	1.00	Officer Director	$0	$0	$0
ALAN LEAVITT OD	DIRECTOR	1.00	Officer Director	$0	$0	$0
JEANNE HOPKINS OD	VICE PRESIDENT & DIRECTOR	1.00	Officer Director	$0	$0	$0
DAVID METSCH OD	DIRECTOR	1.00	Officer Director	$0	$0	$0
WAYNE ZAHKA OD	CLERK & EXECUTIVE DIRECTOR	40.00	Officer	$186,639	$17,201	$203,840

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$647,553	$536,257	$2,168,294	$111,296
2022	$620,919	$485,418	$1,810,689	$135,501
2021	$1,489,054	$569,339	$1,882,980	$919,715
2020	$676,305	$629,121	$860,748	$47,184

MASSACHUSETTS SOCIETY OF OPTOMETRISTS INC