Somang Society
- Assets
- $344.5k
- Revenue
- $653.0k
- Investments
- $0.0
- Employees
- 11
- Location
- Cypress, CA
- Founding
- 01/2008
- Data as of
- 12/2023
- EIN
- 77-0695791
Organization Overview
Somang Society is located in Cypress, CA. The organization was established in 2008. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, Somang Society employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somang Society is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Somang Society generated $653.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $780.8k during the year ending 12/2023. While expenses have increased by 18.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE WELL-DYING PROGRAMS BY CONDUCTING SEMINARS, SYMPOSIUMS AND JOURNAL PUBLICATIONS TO EDUCATE AND PROMOTE WELL-BEING, WELL-AGING, AND WELL-DYING
Describe the Organization's Program Activity:
Part 3 - Line 4a
WELL-BEING PROGRAM WELL DIGGING AND SCHOOL SET-UP IN CHAD, AFRICA WAS PERFORMED BY GOOD NEIGHBOR USA UP UNTIL 2014. STARTING 2015, HOWEVER, SOMANG SOCIETY IS DIRECTLY PERFORMING THESE PROJECTS AND OTHER HUMANITARIAN PROJECTS BY SETTING UP A LOCAL OFFICE BY APPOINTING A LOCAL DIRECTOR. CHAD GOVERNMENT APPROVED THE LOCAL AGENCY OF SOMANG SOCIETY AS NON-PROFIT ORGANIZATION.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hye-Won G Shin Chae Secretary | OfficerTrustee | 16 | $42,000 |
Boon J Lee CEO | OfficerTrustee | $0 | |
Young G Chung CFO | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $45,755 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $129,029 |
| All other contributions, gifts, grants, and similar amounts not included above | $373,307 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $548,091 |
| Total Program Service Revenue | $51,968 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $652,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $258,179 |
| 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 | $134,004 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,604 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,470 |
| Advertising and promotion | $22,050 |
| Office expenses | $119,471 |
| Information technology | $6,194 |
| Royalties | $0 |
| Occupancy | $3,600 |
| Travel | $22,504 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $11,399 |
| Conferences, conventions, and meetings | $72,025 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,884 |
| Insurance | $3,548 |
| All other expenses | $0 |
| Total functional expenses | $780,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $340,538 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,995 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $344,533 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,773 |
| Total liabilities | $2,773 |
| Net assets without donor restrictions | $0 |
| 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 | $341,760 |
| Total liabilities and net assets/fund balances | $344,533 |