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Search Fund Alliance

Not tax-deductible

Los Angeles, CA501(c)(6)Community Development EIN 81-3656795Revenue $24K in FY2024

On file with the IRSsearchfundalliance.org515 S Figueroa St Ste 650, 90071-3313 · Los Angeles, CATax-exempt since May 2022

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Search funds have been successful in building great businesses in large part due to the true partnership between young ceos and their investors. As the industry grows and becomes more mainstream, the Search Fund Alliance will drive partnership and ensure that the essence of what has made great ceos and great companies is preserved and ultimately enhanced. Trusted partnership is the cornerstone to everyone's success. We are committed to that principle. We promote partnership in the Search Fund community by creating safe, frank and respectful forums to: -drill down into issues that divide the community-make board members and investors more effective to their ceos

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 7 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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 $8K a year · 10% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
78 mo
of spending, in cash
Looks good: 78.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$15K
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$24K
-60% vs prior year
Spent
$7K
Net assets
$30K
By yearFY2020–FY2024
Revenue
$24K
FY2024▼ -60%
Tap a bar for its year
Revenue by fiscal year
FY2020$104K
FY2021$101K
FY2022$83K
FY2023$59K
FY2024$24K
Expenses
$7K
FY2024▼ -89%
Tap a bar for its year
Expenses by fiscal year
FY2020$82K
FY2021$89K
FY2022$91K
FY2023$64K
FY2024$7K
Net assets
$30K
FY2024▲ +122%
Tap a bar for its year
Net assets by fiscal year
FY2020$14K
FY2021$26K
FY2022$19K
FY2023$14K
FY2024$30K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2022.

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
M-K O'Connell
President/Board Member
$0Pt VII · Sec A
Peter a Schober
Secretary & Treasurer/Boar
$0Pt VII · Sec A
Alessandro Mina
Board Member
$0Pt VII · Sec A
Frank Van Lint
Board Member
$0Pt VII · Sec A
Tomas Bergstrand
Board Member
$0Pt VII · Sec A
See Search Fund Alliance 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes trusted partnerships between young CEOs and investors in the search fund community.

Questions for Search Fund Alliance

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Events/Roundtables Held This Year

-february 15, 2024: the evolution of standard search terms: how the template originated and what terms need addressing-october 23, 2024: the role of talent assessments in search funds - achieving better outcomes

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$24K
Ln 12
Fees for servicesLn 2g$24K
Money outPt IX
$7K
Ln 25
Owns and owesPt X
$30K
net assets · Ln 32
Cash and savingsLn 1–2$45K
Total assetsLn 16$45K
LiabilitiesLn 26$15K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$24K
Total revenueLn 12$24K
Assets in detailPt X, end of year
CashLn 1$45K
Cash and savings togetherLn 1–2$45K
Total assetsLn 16$45K
LiabilitiesLn 26$15K
Net assetsLn 32$30K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$26K$45K
Total assetsLn 16$34K$45K
LiabilitiesLn 26$20K$15K
Net assetsLn 32$14K$30K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$266
Accounting feesLn 11c$2K
Office expensesLn 13$346
Information technologyLn 14$1K
Conferences, conventions and meetingsLn 19$440
InsuranceLn 23$2K
Total functional expensesLn 25$7K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $24K$7K$17K$30K 990 PDF
FY2023 $59K$64K−$5K$14K 990 PDF
FY2022 $83K$91K−$7K$19K 990 PDF
FY2021 $101K$89K$12K$26K 990 PDF
FY2020 $104K$82K$22K$14K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $23,500 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $58,666$23,500
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $58,666$23,500
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 $63,619$6,949
I-18 Total expensesPrior year $63,619$6,949
I-19 Revenue less expensesPrior year −$4,953$16,551
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $23,500 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $23,500$23,500
VIII-12 Total revenueRelated to mission $23,500 · Unrelated business $0 · Excluded from tax $0$23,500
Part IX · Statement of functional expenses $6,949 across 6 lines filed
IX-11b Legal fees$266
IX-11c Accounting fees$2,200
IX-13 Office expenses$346
IX-14 Information technology$1,319
IX-19 Conferences, conventions and meetings$440
IX-23 Insurance$2,378
IX-25 Total functional expenses$6,949
Part X · Balance sheet $45,270 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $26,123$45,270
X-4 Accounts receivableStart of year $6,000$0
X-9 Prepaid expenses and deferred chargesStart of year $1,396$0
X-16 Total assetsStart of year $33,519$45,270
X-17 Accounts payable and accrued expensesStart of year $2,800$5,000
X-19 Deferred revenueStart of year $17,167$1,667
X-25 Other liabilitiesStart of year $0$8,500
X-26 Total liabilitiesStart of year $19,967$15,167
X-27 Net assets without donor restrictionsStart of year $13,552$30,103
X-32 Total net assets or fund balancesStart of year $13,552$30,103
X-33 Total liabilities and net assetsStart of year $33,519$45,270
Part XI · Reconciliation of net assets $30,103 net assets at year end
XI-1 Total revenue$23,500
XI-2 Total expenses$6,949
XI-3 Revenue less expenses$16,551
XI-4 Net assets at start of year$13,552
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$30,103

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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