SOCIETY OF FACET SURGICAL TECHNIQU… - 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

2009

Legal Domicile

Principal Officer

KINGSLEY R CHIN

Phone

6176975442

Tax Period

2023-01-01 to 2023-12-31

SOCIETY OF FACET SURGICAL TECHNIQUES AND TECHNOLOGIES INC, founded in 2009, is a small nonprofit in the Medical Research sector that reported $123K in total revenue in fiscal year 2023. Revenue surged 41743% from the prior year, signaling strong growth momentum. Expenses of $141K exceeded revenue, resulting in a 15% operating deficit.

Mission

OPERATE AS A SOCIETY FOR THE PURPOSE OF ADVANCING SCIENTIFIC RESEARCH AND THE EXCHANGE OF IDEAS BETWEEN SURGEONS.

Program Service Accomplishments

Program 1

Revenue: $8,934

FOR RESEARCH AND DEVELOPMENT OF MEDICAL DEVICES.

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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 $113,666

Program Service Revenue $8,934

Investment Income $0

Other Revenue $0

TOTAL REVENUE $122,600

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $140,753

TOTAL EXPENSES $140,753

Year-over-Year Comparison

	2023	2022	Change
Revenue	$122,600	$293	+417.4%
Expenses	$140,753	$575	+243.8%
Net Income	$-18,153	$-282	+63.4%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KINGSLEY R CHIN	PRESIDENT	1.00	Officer	$0	$0	$0

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
2023	$122,600	$140,753	$8,934	$-18,153
2022	$293	$575	No data	$-282
2021	$2,061	$3,284	$282	$-1,223
2020	$8,368	$10,616	$1,505	$-2,248
2019	$90,973	$93,836	$1,635	$-2,863
2018	$140,831	$177,235	$4,498	$-36,404

SOCIETY OF FACET SURGICAL TECHNIQUES AND TECHNOLOGIES INC