Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $331,657

• 2a · Program service revenue: ADMINISTRATIVE & APPLICATION FEES

  total $68,145 · related or exempt $68,145

• 3 · Investment income

  total $59,285 · excluded $59,285

• 7a · Gross sales of assets other than inventory

  securities $1,575,000

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

  securities $1,601,354

• 7c · Gain or loss

  securities -$26,354

• 7d · Net gain or loss

  total -$26,354 · excluded -$26,354

• 11a · Other revenue: OTHER

  total $400 · excluded $400

• 11e · Other revenue, total

  $400

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,260,168 · program services $1,260,168

• 5 · Compensation of officers, directors and key employees

  total $255,783 · program services $255,783

• 7 · Other salaries and wages

  total $172,225 · program services $165,373 · management and general $6,852

• 8 · Pension plan contributions

  total $13,485 · program services $11,995 · management and general $1,490

• 9 · Other employee benefits

  total $22,228 · program services $21,410 · management and general $818

• 10 · Payroll taxes

  total $24,638 · program services $23,931 · management and general $707

• 11c · Fees: accounting

  total $29,719 · management and general $29,719

• 11g · Fees: other

  total $11 · management and general $11

• 12 · Advertising and promotion

  total $350 · management and general $350

• 13 · Office expenses

  total $2,183 · management and general $2,183

• 16 · Occupancy

  total $16,057 · program services $16,057

• 17 · Travel

  total $4,310 · management and general $4,310

• 19 · Conferences, conventions and meetings

  total $408 · management and general $408

• 22 · Depreciation, depletion and amortization

  total $792 · management and general $792

• 23 · Insurance

  total $1,672 · management and general $1,672

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $546,176 · end of year $42,434

• 4 · Accounts receivable

  beginning of year $21,025

• 9 · Prepaid expenses and deferred charges

  beginning of year $10,897 · end of year $3,840

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

  $8,048

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

  $7,311

• 10c · Land, buildings and equipment, net

  beginning of year $1,529 · end of year $737

• 11 · Investments: publicly traded securities

  beginning of year $2,420,601 · end of year $921,899

• 17 · Accounts payable and accrued expenses

  beginning of year $156,443 · end of year $154,207

• 18 · Grants payable

  beginning of year $1,315,833 · end of year $611,838

• 27 · Net assets without donor restrictions

  beginning of year $598,708 · end of year $202,865

• 28 · Net assets with donor restrictions

  beginning of year $929,244 · end of year $0

The filer's explanations (Part III)

PART I, LINE 3

THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF THE AMERICAN ORTHOPAEDIC ASSOCATION (AOA), WHICH IS THE SOLE MEMBER OF OMEGA. COMPENSATION IS ESTABLISHED BY WRITTEN CONTRACT AND REVIEWED BY AN AOA COMPENSATION COMMITTEE (TOP ELECTED LEADERSHIP). CONTRACTUAL PARAMETERS FOR COMPENSATION HAVE BEEN REVIEWED BY OUTSIDE COUNSEL TO ASSURE COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS AND ADDITIONALLY COMPENSATION SURVEYS ARE REVIEWED ANNUALLY. COMPENSATION COMMITTEE REVIEWS AND ADJUSTS ANNUALLY BASED ON CONTRACTUAL PARAMETERS.