Overview
What is Severance Alumni Association Inc?
Severance Alumni Association Inc is a small, nonprofit organization based in Roslyn, New York. Their primary focus is to support medical research and provide scholarships to students in their alma mater. To achieve this, they organize seminars and conferences on relevant topics, fostering intellectual growth and engagement among their members. Additionally, the association aims to strengthen connections and communication within its community, fostering a sense of camaraderie and shared purpose.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33% (Zero-Star out of Four Star rating)
The Severance Alumni Association Inc has received a low rating of 33%, reflecting significant concerns regarding its accountability and financial practices. The overall score is based solely on the Accountability & Finance component, indicating a lack of comprehensive evaluation across other important areas such as impact measurement and community engagement.
Strengths of the organization include having a fully independent board of members and no material diversion of assets, scoring a perfect 10 out of 10 in these categories. However, the organization faces serious limitations, particularly in transparency, as it lacks critical policies such as a conflict of interest policy and a whistleblower policy, which detracted from its overall score significantly.
Moreover, the financial ratios indicate that only 37.01% of its expenses are directed towards programs, raising concerns about its efficiency in fulfilling its mission. The absence of a publicly accessible website and necessary documents on its platform further impacts its perceived reliability and accountability, which are critical for donor trust and engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Severance Alumni Association Inc legitimate?
Severance Alumni Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Severance Alumni Association Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $24,833
For more financial information, click here
What is the mission statement of Severance Alumni Association Inc?
The Severance Alumni Association Inc, as per its mission, focuses on providing scholarships to medical students, organizing seminars and conferences on topics relevant to its members, and fostering camaraderie and communication among its members. In addition, the association supports medical research at its alma mater through an assistance program and offers grants to its alumni students. By carrying out these activities, the Severance Alumni Association aims to contribute to the medical field and strengthen the bond among its members.
Who is the CEO of Severance Alumni Association Inc?
Junho Lee is the Immediate Pa of Severance Alumni Association Inc.
What is the revenue of Severance Alumni Association Inc?
Severance Alumni Association Inc's revenue in 2022 was $174,610.
Who are the executives of Severance Alumni Association Inc and what are their salaries?
The average compensation at Severance Alumni Association Inc during 2022 was $24,833. There is 1 employee at Severance Alumni Association Inc.
Here are 5 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
Where can I find the form 990 for Severance Alumni Association Inc?
Severance Alumni Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Severance Alumni Association Inc
Severance Alumni Association Inc is dedicated to several key objectives. Primarily, it focuses on granting scholarships to medical students, providing them with financial assistance as they pursue their careers in the field. Beyond scholarships, the organization also plays a significant role in organizing seminars and conferences on topics relevant to its members. These events serve as platforms for sharing knowledge, fostering discussions, and promoting learning within the medical community associated with Severance Alumni Association Inc.
Moreover, the association places a strong emphasis on enhancing friendship and communication among its members. This objective is achieved through various activities and initiatives that encourage interaction and collaboration among alumni. The association's mission is not only limited to academic support but also extends to strengthening the bonds between its members, fostering a sense of community and camaraderie.
In addition to these primary objectives, Severance Alumni Association Inc supports medical research at its alma mater and offers grants to its alumni students. This commitment to academic excellence and research further solidifies the organization's role in fostering growth and development within the medical community.
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Impact
October, 2024
Severance Alumni Association Inc significantly impacts the medical community by providing scholarships to medical students, thereby easing financial burdens and promoting education in medicine. The association facilitates the organization of seminars and conferences, creating opportunities for members to engage with relevant topics and stay updated on advancements in the field. This not only enhances professional knowledge but also fosters networking and collaboration among alumni. Additionally, the association enhances friendship and communication among its members, cultivating a strong, supportive community. Through its assistance program for medical research funding, the organization supports ongoing education and research initiatives at its alma mater, promoting innovation and excellence in medical sciences. Overall, the association plays a vital role in empowering future medical professionals and advancing the field of medicine through education and collaboration.
This information is meant to be a general summary of Severance Alumni Association Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $51,673
- Gross Receipts: $240,034
Assets and Liabilities:
- Total Assets: $1,357,179
- Total Liabilities: $418,552
- Net Assets: $938,627
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Organization Details
Founding Year
1977
Principal Officer
Junho Lee
Main Address
26 WIMBLEDON DR, ROSLYN, NY, 11576
NTEE Category
Code: B84Z - Education
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