Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SERVICE FEE REVENUE

  total $180,587,781 · related or exempt $180,587,781

• 3 · Investment income

  total -$914,585 · excluded -$914,585

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $137,439,865 · program services $137,439,865

• 9 · Other employee benefits

  total $937,464 · program services $937,464

• 10 · Payroll taxes

  total $12,319,133 · program services $12,319,133

• 11a · Fees: management

  total $25,006,834 · program services $25,006,834

• 11c · Fees: accounting

  total $25 · program services $25

• 13 · Office expenses

  total $57,456 · program services $57,456

• 16 · Occupancy

  total $256,387 · program services $256,387

• 22 · Depreciation, depletion and amortization

  total $100,000 · program services $100,000

• 23 · Insurance

  total $1,332 · program services $1,332

• 24a · Other expenses: OTHER DIRECT EXPENSES

  total $215,291 · program services $215,291

• 24b · Other expenses: MISCELLANEOUS EXPENSE

  total $1,171 · program services $1,171

• 24c · Other expenses: DUES AND MEMBERSHIPS

  total $350 · program services $350

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,007,385

• 4 · Accounts receivable

  beginning of year $14,002,952 · end of year $17,422,285

• 9 · Prepaid expenses and deferred charges

  beginning of year $123,563 · end of year $178,736

• 10a · Land, buildings and equipment: cost or other basis

  $1,605,262

• 10b · Land, buildings and equipment: accumulated depreciation

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $1,605,262 · end of year $1,605,262

• 11 · Investments: publicly traded securities

  beginning of year $7,153,852 · end of year $21,480,102

• 12 · Investments: other securities

  beginning of year $149,140 · end of year $142,913

• 14 · Intangible assets

  beginning of year $1,175,001 · end of year $1,075,001

• 15 · Other assets

  beginning of year $39,213,457 · end of year $25,712,664

• 17 · Accounts payable and accrued expenses

  beginning of year $8,422,637 · end of year $8,202,678

• 25 · Other liabilities

  beginning of year $7,251,424 · end of year $6,400,211

• 27 · Net assets without donor restrictions

  beginning of year $48,756,551 · end of year $53,014,074

The filer's explanations (Part III)

PART I, LINE 3

A RELATED ORGANIZATION USES THE FOLLOWING TO ESTABLICH THE COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR: COMPENSATION COMMITTEE, WRITTEN EMPLOYMENT CONTRACT, INDEPENDENT COMPENSATION CONSULTAT, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

PART I, LINE 4B

SERVICES MANAGEMENT GROUP HAS ENTERED INTO DEFERRED COMPENSATION PLANS FOR BOTH THE CEO AND CFO. THE DEFERRED COMPENSATION PLAN INCLUDES 240 MONTHLY PAYMENTS OF $3,000 FOR THE CEO UPON VESTING AND RETIREMENT, AND 120 MONTHLY PAYMENTS OF $2,083.33 FOR THE CFO UPON VESTING AND RETIREMENT.