SOMANG SOCIETY (EIN 770695791) - Form 990 Financial Analysis & Trantor Score

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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

2007

Legal Domicile

Principal Officer

BOON J LEE

Phone

5629774580

Tax Period

2024-01-01 to 2024-12-31

SOMANG SOCIETY, founded in 2007, is a small nonprofit in the Education sector that reported $649K in total revenue in fiscal year 2024.

Mission

TO PROMOTE WELL-DYING PROGRAMS BY CONDUCTING SEMINARS, SYMPOSIUMS AND JOURNAL PUBLICATIONS TO EDUCATE AND PROMOTE WELL-BEING, WELL-AGING, AND WELL-DYING

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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 (2024)

Revenue Breakdown

Contributions & Grants $593,847

Program Service Revenue $41,510

Investment Income $495

Other Revenue $12,831

TOTAL REVENUE $648,683

Expense Breakdown

Grants Paid $104,332

Salaries & Benefits $202,618

Fundraising Expenses $18,645

Program Expenses $647,913

Other Expenses $340,963

TOTAL EXPENSES $647,913

Year-over-Year Comparison

	2024	2023	Change
Revenue	$648,683	$652,999	0.0%
Expenses	$647,913	$780,832	-0.2%
Net Income	$770	$-127,833	-1.0%

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

N/A

Independent Members

N/A

Employees

Volunteers

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

$60,000

Total Directors

$60,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HYE-WON G SHIN CHAE	SECRETARY	16.00	Officer Director	$60,000	$0	$60,000
BOON J LEE	CEO	N/A	Officer Director	$0	$0	$0
YOUNG G CHUNG	CFO	N/A	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	$648,683	$647,913	$351,508	$770
2023	$652,999	$780,832	$344,533	$-127,833
2022	$848,484	$793,922	$478,700	$54,562
2021	$808,915	$583,726	$420,628	$225,189
2020	$513,029	$557,964	$220,601	$-44,935
2019	$595,012	$589,294	$237,791	$5,718

SOMANG SOCIETY