Second Sense EIN 36-2229565 Form 990 (PDF) Claim this org

Second Sense FY2022 filing

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Empowers individuals to overcome vision loss and realize their full potential. For fiscal year 2022 it reported $1.4M in revenue, $987K in expenses, and $581K in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Chicago, IL
Website
www.second-sense.org
Filings
6 on file (2020–2022)
Revenue
$1.4MFY2022
Expenses
$987K
Net assets
$581K
People
10
Filings
6
Updates
0
More identity details & actions ⌄
EIN  36-2229565 Public charity (501(c)(3)) Chicago, IL
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Empowers individuals to overcome vision loss and realize their full potential.
Leadership
Steven Zelner · Executive Director · $150K
Money in and out
$1.4M revenue, $987K expenses
Bottom line
74% program efficiency
Where the money goes · FY2022
Total revenue
$1.4M
Pt VIII · Ln 12
Total expenses
$987K
Pt IX · Ln 25
Net assets
$581K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $445K
Where spending went · Part IX cols B–D
Program services $0.74 Management & general $0.11 Fundraising $0.15
Program efficiency
74%
of spending reaches programs
Operating runway
6.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
+31%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$1.4M
FY2022▲ +63%
Expenses
$987K
FY2022▲ +24%
Total assets
$725K
FY2022▲ +74%
Total liabilities
$144K
FY2022▼ -47%
Total revenue
$1.4M
Pt VIII · Ln 12
Total expenses
$987K
Pt IX · Ln 25
Net assets
$581K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$445K
Total assetsPt X · Ln 16$725K
Program-expense ratioPt IX · col B74%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSecond Sense
EINHdr · item D36-2229565
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jwww.second-sense.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFFeb 1950

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$150,233Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Steven Zelner$204,375$155,000$188,250$150,233$133,965$117,233
Cheryl Megurdichian$111,153$103,653

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $731K of program spending, described in the organization's own filed words · FY2021.
01

Independent Living Services

Provides education and training on skills clients need to accomplish daily tasks.

$328Kprogram expense
02

Orientation and Mobility

Teaching clients how to travel safely and independently using a white cane.

$203Kprogram expense
03

Adaptive Technology Services

Provides classroom training and individual instruction in the use of adaptive technology.

$200Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$1.3M · 93%
Other revenue$93K · 6%
Contributions & grants93%$1.3M
Other revenue6%$93K
Investment income$3K
— government grantsLn 1e$200K
Total revenueLn 12$1.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.74 Management & general $0.11 Fundraising $0.15
Program services74%$731K
Management & general11%$104K
Fundraising15%$153K
Total functional expensesLn 25$987K

Balance Sheet

Part X · end of year
CashLn 1$366K
Total assetsLn 16$725K
Total liabilitiesLn 26$144K
Total net assetsLn 32$581K
Months of cash on handcomputed4.5

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $560K · Operating expenses/yr $987K
6.8 months
Where the money goes
Program services
Program services $731K · Total expenses $987K
74%
Management & General
Management & general $104K · Total expenses $987K
11%
Fundraising
Fundraising $153K · Total expenses $987K
15%
Cost to raise $1
Fundraising expense (3-yr avg) $125K · Solicited contributions (3-yr avg) $858K
$0.15 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.3M · Total revenue $1.4M
93%
Government reliance
Government grants $200K · Total revenue $1.4M
14%
Earned-income share
Program service revenue $0 · Total revenue $1.4M
0%
Investment reliance
Investment income $3K · Total revenue $1.4M
+0.2%
Program self-sufficiency
Program service revenue $0 · Total expenses $987K
0%
Growth & trend
Revenue growth (YoY)
This year $1.4M · Prior year $882K
+63%
Net-asset trend (YoY)
End of year $581K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.4M · Expenses $987K
+31%
Liabilities-to-Assets
Total liabilities — · Total assets $725K
Net-asset ratio
Net assets $581K · Total assets $725K
80%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $193K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $725K
27%
People & payroll
Highest Reported Total Compensation
Individual Steven Zelner · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $150K · Total expenses $987K
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $622K · Total expenses $987K
63%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 74%
Overhead ratio 11%
Fundraising cost ratio 11%
Revenue growth 63%
Investment management fee ratio 0.6%
Accounting fee ratio 4%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 18 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$918K revenue · ⤓ 990 PDF
FY2024$1.1M revenue · ⤓ 990 PDF
FY2023$1.1M revenue · ⤓ 990 PDF
FY2022$1.4M revenue · viewing · ⤓ 990 PDF
FY2021$882K revenue · ⤓ 990 PDF
FY2020$910K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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