Somang Society

Nonprofit profile at a glance

EIN
770695791
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Cypress, CA, USA
Phone
5629774580
Rating
57
Verdict
MIXED
Rating confidence
Moderate
Sector
Education N.E.C.

Reported finances

Revenue
$648,683
Expenses
$647,913
Assets
$351,508
Liabilities
$8,978

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • BOON J LEE (CEO)

Highest reported compensation

  • HYE-WON G SHIN CHAE (SECRETARY): $60,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote well-dying programs by conducting seminars, symposiums and journal publications to educate and promote well-being, well-aging, and well-dying

What it reported doing in 2024

Well-aging and well-dying program somang care class was strting 2015 for dementia patients, their families and caregivers. It offers a planned program of activities designed to promote well-aging through socialization and stimulation. Dementia patients are cared in supportive, safe and cheerful environment by trained staffs and voluteers. Somang society provides education on subjects related to end of life preparation such as of advance healthcare directives, hospice care, welled body program and emergency contact card by facilitating seminars, workshops, forum, and annual confereces as well.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.

The verdict

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 77
  • Accountability: 10
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.7%; rating input score 62
  • Program expense ratio: 61.7%; rating input score 62
  • Fundraising efficiency: $31.85 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.1%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 9.3%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 8.6% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 14.5% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 61.7% of revenue deployed · 61.7% of spending went to programs
  • Governance: 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $648K in reported program spending
  • Leadership: top reported pay $60K · 3 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors and foreign activity
  • Filing history: 6 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.