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Oset INC FY2022 filing

Tax-deductible

Stamford, CT501(c)(3)Health CareEIN 47-3488865Revenue $3.1M in FY2022

On file with the IRSorthosummit.com35 Mayflower Avenue Unit B, 06906-1918 · Stamford, CTTax-exempt since May 2015Publicly supported — 509(a)(2)

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To organize seminars that provide continuing education opportunities to physicians, other health care professionals and the community throughout the year in every subspecialty from child to aging adults.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $120K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $30K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
42% of total assets
Looks good: liabilities are 42% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
+123% vs prior year
Spent
$2.6M
To programs
99%
Net assets
$1.5M
By yearFY2020–FY2024
Revenue
$3.1M
FY2022▲ +123%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.7M
FY2021$1.4M
FY2022$3.1M
FY2022$3.2M
FY2023$3.6M
FY2024$4.3M
Expenses
$2.6M
FY2022▲ +70%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.3M
FY2021$1.5M
FY2022$2.6M
FY2022$3.1M
FY2023$3.0M
FY2024$5.2M
Net assets
$1.5M
FY2022▲ +46%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2M
FY2021$1.1M
FY2022$1.5M
FY2022$1.5M
FY2023$2.3M
FY2024$1.6M

From the FY2022 Form 990 (year ending February 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $2.6M Management & general 1% · $24K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Jill Plancher
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Stephanie Peterson PHD
Chief Education Officer
$0Pt VII · Sec A
Kevin F Bonner MD
Executive Vice Conference Chair
$0Pt VII · Sec A
Joseph a Abboud MD
Vice Conference Chair
$0Pt VII · Sec A
See Oset INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers year-round seminars for healthcare professionals and the community on all medical subspecialties.

Questions for Oset INC

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Provided by the organization

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1 program · $2.6M · in their own filed words · FY2021
01

To organize seminars that provide continuing education opportunities to physicians, other health care professionals and the community throughout the year in every subspecialty from child to aging adults.

$2.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2019
Fidelity Investments Charitable Gift FundFY2019$30K
Total grants receivedfrom 1 funder$30K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.1M
Ln 12
Fees for servicesLn 2g$2.9M
Gifts and grantsLn 1h$159K
Other incomeLn 4–11$83K
Money outPt IX
$2.6M
Ln 25
Programscol B$2.6M
Managementcol C$24K
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$2.6M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$159K
Fees for servicesLn 2g$2.9M
Other incomeLn 4–11$83K
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$2.4M
Cash and savings togetherLn 1–2$2.4M
Other assetsLn 15$72K
Total assetsLn 16$2.6M
LiabilitiesLn 26$1.1M
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderFebruary
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.2M$2.4M
Total assetsLn 16$1.3M$2.6M
LiabilitiesLn 26$278K$1.1M
Net assetsLn 32$1.1M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$104K$104K
Office expensesLn 13$9K$9K
TravelLn 17$26K$26K
Conferences, conventions and meetingsLn 19$1.0M$1.0M
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$851K$851K
All other expensesLn 24e$604K$601K$3K
Total functional expensesLn 25$2.6M$2.6M$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4.3M$5.2M−$884K$1.6M 990 PDF
FY2023 $3.6M$3.0M$647K$2.3M 990 PDF
FY2022 Viewing $3.1M$2.6M$513K$1.5M 990 PDF
FY2021 $1.4M$1.5M−$139K$1.1M 990 PDF
FY2020 $2.7M$2.3M$466K$1.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $3,136,754 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $748,000$159,144
I-9 Program service revenuePrior year $645,933$2,895,076
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $14,916$82,534
I-12 Total revenuePrior year $1,408,849$3,136,754
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,547,936$2,623,992
I-18 Total expensesPrior year $1,547,936$2,623,992
I-19 Revenue less expensesPrior year −$139,087$512,762
Part VI · Governance 6 of 6 board members independent, 5 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $3,136,754 across 5 lines filed
VIII-1f All other contributions, gifts and grants$159,144
VIII-1h Total contributions, gifts and grants$159,144
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,895,076$2,895,076
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $82,534$82,534
VIII-12 Total revenueRelated to mission $2,977,610 · Unrelated business $0 · Excluded from tax $0$3,136,754
Part IX · Statement of functional expenses $2,623,992 across 10 lines filed
IX-11b Legal feesManagement $7,005$7,005
IX-11c Accounting feesManagement $8,000$8,000
IX-11g Other fees for servicesManagement $6,025$6,025
IX-12 Advertising and promotionPrograms $104,099$104,099
IX-13 Office expensesPrograms $9,422$9,422
IX-17 TravelPrograms $26,167$26,167
IX-19 Conferences, conventions and meetingsPrograms $1,006,641$1,006,641
IX-23 InsurancePrograms $1,230$1,230
IX-24 Other expenses (24a–d)Programs $851,448$851,448
IX-24e All other expensesPrograms $601,142 · Management $2,813$603,955
IX-25 Total functional expensesPrograms $2,600,149 · Management $23,843 · Fundraising $0$2,623,992
Part X · Balance sheet $2,647,627 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $1,236,289$2,394,340
X-4 Accounts receivableStart of year $90,364$181,337
X-15 Other assetsStart of year $2,395$71,950
X-16 Total assetsStart of year $1,329,048$2,647,627
X-17 Accounts payable and accrued expensesStart of year $148,501$1,099,406
X-25 Other liabilitiesStart of year $129,492$14,943
X-26 Total liabilitiesStart of year $277,993$1,114,349
X-27 Net assets without donor restrictionsStart of year $1,051,055$1,533,278
X-32 Total net assets or fund balancesStart of year $1,051,055$1,533,278
X-33 Total liabilities and net assetsStart of year $1,329,048$2,647,627
Part XI · Reconciliation of net assets $1,533,278 net assets at year end
XI-1 Total revenue$3,136,754
XI-2 Total expenses$2,623,992
XI-3 Revenue less expenses$512,762
XI-4 Net assets at start of year$1,051,055
XI-9 Other changes in net assets−$30,539
XI-10 Net assets at end of year$1,533,278

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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