The Split Second Foundation INC EIN 82-5240639 Form 990 (PDF) Claim this org

The Split Second Foundation INC FY2021 filing

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Breaks down barriers for people with physical disabilities in society and research. For fiscal year 2021 it reported $278K in revenue, $353K in expenses, and $-44K in net assets.Pt I

Type
Public charity (501(c)(3)) · Medical Research
Location
New Orleans, LA
Website
www.splitsecondfoundation.org
Filings
5 on file (2020–2021)
Revenue
$278KFY2021
Expenses
$353K
Net assets
$-44K
People
12
Filings
5
Updates
0
More identity details & actions ⌄
EIN  82-5240639 Public charity (501(c)(3)) New Orleans, LA
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 9/11/26 · see original: IRS
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Size
$1–10M
What they do
Breaks down barriers for people with physical disabilities in society and research.
Leadership
Maureen Zimmerman · Board Member
Money in and out
$278K revenue, $353K expenses
Bottom line
70% program efficiency
Where the money goes · FY2021
Total revenue
$278K
Pt VIII · Ln 12
Total expenses
$353K
Pt IX · Ln 25
Net assets
$-44K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$75K
Where spending went · Part IX cols B–D
Program services $0.70 Management & general $0.23 Fundraising $0.07
Program efficiency
70%
of spending reaches programs
Operating runway
3.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-27%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$278K
FY2021▲ ×13
Expenses
$353K
FY2021
Total assets
$122K
FY2021
Total liabilities
$167K
FY2021
Total revenue
$278K
Pt VIII · Ln 12
Total expenses
$353K
Pt IX · Ln 25
Net assets
$-44K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$75K
Total assetsPt X · Ln 16$122K
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

1 program service account for $248K of program spending, described in the organization's own filed words · FY2021.
01

In february 2021, we opened the fitness facility in louisiana for people living with disabilities and served over 127 people throughout the year.

$248Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe Split Second Foundation INC
EINHdr · item D82-5240639
Principal addressHdr · item CNew Orleans, LA
WebsiteHdr · item Jwww.splitsecondfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MLA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMedical Research (H01)
Ruling yearIRS BMFMay 2018

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
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
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A

Mark Raymond JR’s $67K as CEO & President is at the 8th percentile of top reported officer pay among 360 $1–10M medical research nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022
Mark Raymond JR$66,971$57,200$58,692

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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Statement of Revenue

Part VIII
Contributions & grants$270K · 97%
Program service revenue$13K · 5%
Contributions & grants97%$270K
Program service revenue5%$13K
— government grantsLn 1e$14K
Total revenueLn 12$278K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.23 Fundraising $0.07
Program services70%$248K
Management & general23%$81K
Fundraising7%$24K
Total functional expensesLn 25$353K

Balance Sheet

Part X · end of year
CashLn 1$107K
Total assetsLn 16$122K
Total liabilitiesLn 26$167K
Total net assetsLn 32$-44K
Months of cash on handcomputed3.6

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $107K · Operating expenses (Pt IX) $353K · Less non-cash grants $14K · Cash operating expenses/yr $339K
3.8 months
Where the money goes
Program services
Program services $248K · Total expenses $353K
70%
Management & General
Management & general $81K · Total expenses $353K
23%
Fundraising
Fundraising $24K · Total expenses $353K
7%
Cost to raise $1
Fundraising expense $24K · Solicited contributions $256K
$0.09 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $270K · Total revenue $278K
97%
Government reliance
Government grants $14K · Total revenue $278K
5%
Earned-income share
Program service revenue $13K · Total revenue $278K
5%
Investment reliance
Investment income $0 · Total revenue $278K
0%
Program self-sufficiency
Program service revenue $13K · Total expenses $353K
4%
Growth & trend
Revenue growth (YoY)
This year $278K · Prior year $22K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $-44K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $278K · Expenses $353K
-27%
Liabilities-to-Assets
Total liabilities — · Total assets $122K
Net-asset ratio
Net assets $-44K · Total assets $122K
-36%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $122K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Maureen Zimmerman · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $353K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $213K · Total expenses $353K
60%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 70%
Overhead ratio 23%
Fundraising cost ratio 9%
Revenue growth ×13
Legal fee ratio 0.7%
Fundraising fee ratio 7%

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 14 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
FY2024 (Latest)$1.9M revenue · ⤓ 990 PDF
FY2023$766K revenue · ⤓ 990 PDF
FY2022$568K revenue · ⤓ 990 PDF
FY2021$278K revenue · viewing · ⤓ 990 PDF
FY2020$22K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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