Society Of Quality Assurance Incorporated
- Assets
- $2.6m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 01/1988
- Data as of
- 12/2021
- EIN
- 52-1388759
Organization Overview
Society Of Quality Assurance Incorporated is located in Charlottesville, VA. The organization was established in 1988. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is a parent organization of an affiliated group for tax-exemption purposes. Society Of Quality Assurance Incorporated is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Society Of Quality Assurance Incorporated generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $958.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ADVANCE THE ETHICS, PRINCIPLES, AND KNOWLEDGE OF QUALITY ASSURANCE ESSENTIAL TO HUMAN, ANIMAL, AND ENVIRONMENTAL HEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOCIETY PUBLISHES A NEWSLETTER EVERY OTHER MONTH THROUGH WHICH MEMBERS MAY EXCHANGE IDEAS, KNOWLEDGE, SERVICES, AND PRODUCTS. THE SOCIETY HOSTS LISTSERVS TO SUPPORT COMMUNICATION AMONG THE SOCIETY'S MEMBERS AROUND THE WORLD. THE SOCIETY HAS DEVELOPED AND MAINTAINS A PROFESSIONAL REGISTRATION PROGRAM, WHICH HAS ESTABLISHED A STANDARD OF BASIC COMPETENCY IN THE KNOWLEDGE OF THE REGULATIONS THAT DRIVE ITS PROFESSIONAL MEMBERS. IN 2021, THE SOCIETY HAD 2,138 MEMBERS FROM APPROXIMATELY 52 COUNTRIES.
THE SOCIETY GENERALLY HOLDS AN ANNUAL MEETING FOR MEMBERS AND OTHERS IN THE PROFESSION TO EXCHANGE IDEAS AND EXHIBIT PRODUCTS FOR THE PURPOSE OF DISCUSSION AND FOR ENHANCING KNOWLEDGE IN RESEARCH QUALITY ASSURANCE. THIS MEETING INCLUDES PRECONFERENCE AND POST CONFERENCE TRAINING PROGRAMS TO FACILITATE THE ACQUISITION, DISSEMINATION AND UTILIZATION OF KNOWLEDGE IN RESEARCH QUALITY ASSURANCE. IN 2021, DUE TO THE COVID-19 PANDEMIC, THIS MEETING WAS HELD IN A VIRTUAL FORMAT. PARTICIPATION INCLUDED 677 PERSONS FROM 26 COUNTRIES. THE SOCIETY ALSO HOLDS A TRAINING PROGRAM IN SEPTEMBER AT A DIFFERENT LOCATION TO EDUCATE MEMBERS ABOUT VARIOUS AREAS OF RESEARCH QUALITY ASSURANCE. THESE TRAININGS PROVIDE A FORUM FOR THE DISCUSSION AND EXCHANGE OF IDEAS BY FACILITATING THE ACQUISITION AND UTILIZATION OF KNOWLEDGE IN RESEARCH QUALITY ASSURANCE. IN 2021, THE SOCIETY HOSTED VIRTUAL TRAININGS FOR 2 DAYS IN MARCH WITH 71 PARTICIPANTS FROM 6 COUNTRIES, FOR 4 DAYS IN APRIL WITH 237 PARTICIPANTS FROM 14 COUNTRIES, AND FOR 9 DAYS IN SEPTEMBER WITH 184 PARTICIPANTS FROM 9 COUNTRIES.
THE SOCIETY IS AFFILIATED WITH EIGHT DOMESTIC CHAPTERS AND THREE NON-U.S. CHAPTERS (CANADA, INDIA, AND NIGERIA) AND PROVIDES ADMINISTRATION AND WEBSITE SERVICES TO THOSE CHAPTERS AND THEIR MEMBERS.
THE SOCIETY PRODUCED A VIDEO MARKETING MEMBERSHIP BENEFITS FOR QA PROFESSIONALS WHO JOIN SQA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Frazier President | OfficerTrustee | 2 | $0 |
Michelle Holbrook Vice Preside | OfficerTrustee | 2 | $0 |
Tracey Henthorn Secretary | OfficerTrustee | 2 | $0 |
Beth Moulaison Past Preside | OfficerTrustee | 2 | $0 |
Maryellen Lander Treasurer | OfficerTrustee | 2 | $0 |
Alison Cockrell Executive Di | Officer | 15 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Custom Management Group Management | 12/30/19 | $609,077 |
Marriott Business Services Conference Svcs | 12/30/19 | $296,895 |
J&s Audio Visual | 12/30/19 | $104,646 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,176 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,176 |
| Total Program Service Revenue | $920,955 |
| Investment income | $26,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $278,482 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,301,617 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $359,909 |
| Fees for services: Legal | $712 |
| Fees for services: Accounting | $7,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $88,171 |
| Advertising and promotion | $0 |
| Office expenses | $74,002 |
| Information technology | $98,342 |
| Royalties | $0 |
| Occupancy | $3,300 |
| Travel | $498 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $307,224 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,747 |
| All other expenses | $0 |
| Total functional expenses | $958,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $126,444 |
| Savings and temporary cash investments | $251,477 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,598 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $119,904 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,128,635 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,630,058 |
| Accounts payable and accrued expenses | $70,726 |
| Grants payable | $0 |
| Deferred revenue | $155,215 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $225,941 |
| Net assets without donor restrictions | $2,404,117 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,630,058 |
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