Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: EDUCATION AND EXAM FEES

  total $36,432,243 · related or exempt $36,432,243

• 2b · Program service revenue: MEMBERSHIP DUES

  total $21,506,515 · related or exempt $21,506,515

• 2c · Program service revenue: PROFESSIONAL DEVELOPMENT FEES

  total $8,329,940 · related or exempt $8,329,940

• 2d · Program service revenue: ADVERTISING

  total $49,545 · unrelated business $49,545

• 2e · Program service revenue: OTHER PROGRAM REVENUE

  total $6,915 · related or exempt $6,915

• 3 · Investment income

  total $1,680,383 · excluded $1,680,383

• 5 · Royalties

  total $20,815 · excluded $20,815

• 7a · Gross sales of assets other than inventory

  securities $10,253,981

• 7b · Less cost or other basis and sales expenses

  securities $9,984,640

• 7c · Gain or loss

  securities $269,341

• 7d · Net gain or loss

  total $269,341 · excluded $269,341

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $800,550

• 2 · Grants to domestic individuals

  total $161,037

• 3 · Grants to foreign organizations and individuals

  total $140,000

• 5 · Compensation of officers, directors and key employees

  total $4,335,916

• 7 · Other salaries and wages

  total $13,770,248

• 8 · Pension plan contributions

  total $1,810,616

• 9 · Other employee benefits

  total $1,313,647

• 10 · Payroll taxes

  total $1,385,121

• 11b · Fees: legal

  total $292,364

• 11g · Fees: other

  total $9,955,082

• 12 · Advertising and promotion

  total $452,794

• 13 · Office expenses

  total $6,741,943

• 14 · Information technology

  total $3,904,967

• 16 · Occupancy

  total $346,933

• 17 · Travel

  total $9,557,830

• 22 · Depreciation, depletion and amortization

  total $1,742,309

• 23 · Insurance

  total $305,409

• 24a · Other expenses: ASB/ABCD EXPENSE

  total $288,596

• 24b · Other expenses: HONG KONG JOINT OFFICE

  total $179,083

• 24c · Other expenses: STAFF CONTINUING ED

  total $171,333

• 24e · All other expenses

  total $129,094

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,348,186 · end of year $1,654,358

• 2 · Savings and temporary cash investments

  beginning of year $12,585,680 · end of year $18,691,239

• 4 · Accounts receivable

  beginning of year $341,771 · end of year $1,269,808

• 8 · Inventories for sale or use

  beginning of year $169,395 · end of year $193,021

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,053,639 · end of year $2,645,305

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

  $11,007,900

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

  $3,153,720

• 10c · Land, buildings and equipment, net

  beginning of year $5,685,155 · end of year $7,854,180

• 11 · Investments: publicly traded securities

  beginning of year $42,189,658 · end of year $49,020,008

• 12 · Investments: other securities

  beginning of year $4,931,720 · end of year $6,219,045

• 15 · Other assets

  beginning of year $1,567,330 · end of year $1,389,520

• 17 · Accounts payable and accrued expenses

  beginning of year $7,564,664 · end of year $5,978,959

• 19 · Deferred revenue

  beginning of year $22,814,763 · end of year $27,215,429

• 25 · Other liabilities

  beginning of year $3,228,569 · end of year $4,194,469

• 27 · Net assets without donor restrictions

  beginning of year $37,264,538 · end of year $51,547,627

The filer's explanations (Part III)

PART I, LINE 1A

THE LESSER OF FIRST CLASS OR BUSINESS CLASS TRAVEL IS ALLOWED ON FLIGHTS LONGER THAN 7 HOURS AND OUTSIDE OF THE US AND CANADA. IT IS A REIMBURSABLE BUSINESS EXPENSE AND THEREFORE, NOT TAXABLE COMPENSATION. SPOUSAL TRAVEL IS ALLOWED FOR THE PAST-PRESIDENT, PRESIDENT, PRESIDENT-ELECT, AND SECRETARY/TREASURER AND IS TREATED AS TAXABLE COMPENSATION. IN ORDER TO PROMOTE A HEALTHY LIFESTYLE, HEALTH CLUB DUES ARE PROVIDED UP TO $200 PER CALENDAR YEAR AND ARE TREATED AS TAXABLE COMPENSATION.

PART I, LINE 4B

DURING 2024, THE CEO ACCRUED A BENEFIT OF $18,231 FROM A 457(F) NON-QUALIFIED RETIREMENT PLAN FROM A RELATED ORGANIZATION, SOA RESEARCH INSTITUTE. THE EMPLOYEE'S ACCOUNT SHALL VEST AS OF THE EARLIEST OF THE FOLLOWING DATES: (I) THE DEATH OF THE EMPLOYEE; (II) THE EMPLOYEE'S TOTAL DISABILITY; (III) THE EMPLOYEE'S INVOLUNTARY SEPARATION FROM SERVICE BY THE EMPLOYER WITHOUT CAUSE; (IV) THE EMPLOYEE'S SEPARATION FROM SERVICE FOR GOOD REASON; OR (V) JUNE 30, 2025. IF THE EMPLOYEE INCURS A SEPARATION FROM SERVICE RESULTING FROM A VOLUNTARY QUIT OR INCURS AN INVOLUNTARY SEPARATION FROM SERVICE FOR CAUSE PRIOR TO JUNE 30, 2025, THE BALANCE OF THE EMPLOYEE'S ACCOUNT SHALL BE FORFEITED.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• SOA VENTURES LLC

  HOLDING, CO · IL · income $0 · assets $0

  Directly controlled by SOCIETY OF ACTUARIES

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• SOA ASIA-PACIFIC GATEWAY PTE LTD

  EDUCATION AND TESTING · SN · 100% owned · share of assets -$156,901 · controlled entity

  Directly controlled by SOA VENTURES LLC