THE SOCIETY FOR WORLDWIDE MEDICAL EXCHANGE INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
THE SOCIETY FOR WORLDWIDE MEDICAL EXCHANGE INC (EIN 80-0417187)
Tax period
2020-01-01 to 2020-12-31
Filed
2022-02-22
IRS object ID
202200539349301100
Schema version
2020v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-02-22T07:51:09-06:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN550835447PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ALLAN KOLTUN CPA PABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12124 NE 123 STREET SUITE 202AddressLine1Txt
CityMIAMICityNm
State AbbreviationFLStateAbbreviationCd
ZIP33181ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN800417187EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE SOCIETY FOR WORLDWIDEBusinessNameLine1Txt
Business Name Line2MEDICAL EXCHANGE INCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlSOCIBusinessNameControlTxt
Phone3054079222PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11666 KENNEDY CAUSEWAY NO 702AddressLine1Txt
CityN BAY VILLAGECityNm
State AbbreviationFLStateAbbreviationCd
ZIP33141ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMARTA FASOLIPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone3054079222PhoneNum
Signature2022-02-16SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstMARTAPersonFirstNm
Person LastFASOLIPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
PTINP00552376PTIN
Phone7865365125PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

US Address USAddress

FieldValueIRS element (for citing)
Address Line11666 KENNEDY CAUSEWAY NO 702AddressLine1Txt
CityN BAY VILLAGECityNm
State AbbreviationFLStateAbbreviationCd
ZIP33141ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$74,365GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressHTTP://WWW.WORLDWIDEMEDICALEXCHANGE.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2009FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionA VISION OF A UNITED GLOBAL MEDICAL COMMUNITY.TO PROVIDE THE NECESSARY FUNDING FOR DOCTORS/PHYSICIANS FROM DEVELOPING COUNTRIES AND LOCAL COMMUNITIES TO CONTINUE LEARNING AND SHARING THE LATEST MEDICAL KNOWLEDGE AND ADVANCES, ATTENDING INTERNATIONAL MEDICAL MEETINGS AND DEDICATED COURSES AND SCIENTIFIC EXCHANGE IN EVOLVING TREATMENTS AND FINDING CURES FOR DISEASES.ActivityOrMissionDesc
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$522,834PYProgramServiceRevenueAmt
CY Program Service Revenue$74,365CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$522,834PYTotalRevenueAmt
CY Total Revenue$74,365CYTotalRevenueAmt
PY Grants And Similar Paid$416,692PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$64,850CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$94,031PYOtherExpensesAmt
CY Other Expenses$9,108CYOtherExpensesAmt
PY Total Expenses$510,723PYTotalExpensesAmt
CY Total Expenses$73,958CYTotalExpensesAmt
PY Revenues Less Expenses$12,111PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$407CYRevenuesLessExpensesAmt
Total Assets BOY$319,165TotalAssetsBOYAmt
Total Assets EOY$171,555TotalAssetsEOYAmt
Total Liabilities BOY$720,348TotalLiabilitiesBOYAmt
Total Liabilities EOY$572,331TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY-$401,183NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY-$400,776NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionA VISION OF A UNITED GLOBAL MEDICAL COMMUNITY.TO PROVIDE THE NECESSARY FUNDING FOR DOCTORS/PHYSICIANS FROM DEVELOPING COUNTRIES AND LOCAL COMMUNITIES TO CONTINUE LEARNING AND SHARING THE LATEST MEDICAL KNOWLEDGE AND ADVANCES, ATTENDING INTERNATIONAL MEDICAL MEETINGS AND DEDICATED COURSES AND SCIENTIFIC EXCHANGE IN EVOLVING TREATMENTS AND FINDING CURES FOR DISEASES.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescPROVIDE FUNDING TO DOCTORS FROM DEVELOPING COUNTRIES AND LOCAL COMMUNITIESDesc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Grant$64,850GrantAmt
Revenue$74,365RevenueAmt
DescEDUCATION & MEDICAL GRANTS IN THE LATEST MEDICAL KNOWLEDGE AND ADVANCESDesc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp

FieldValueIRS element (for citing)
Expense$70,463ExpenseAmt
FieldValueIRS element (for citing)
Total Other Prog Srvc Expense$70,463TotalOtherProgSrvcExpenseAmt
Total Program Service Expenses$70,463TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc0RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldFLStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone3054079222PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11666 KENNEDY CAUSEWAY NO 702AddressLine1Txt
CityN BAY VILLAGECityNm
State AbbreviationFLStateAbbreviationCd
ZIP33141ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
MARTA FASOLI
DIRECTOR1.00Yes (X)$0$0$0
JANE BRESCIA
DIRECTOR1.00Yes (X)$0$0$0
DAVID FILLER
DIRECTOR1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescEDUCATIONAL GRANTDesc
Business611430BusinessCd
Total Revenue Column$74,365TotalRevenueColumnAmt
Related Or Exempt Func Income$74,365RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$74,365TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$74,365TotalRevenueColumnAmt
Related Or Exempt Func Income$74,365RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$64,850TotalAmt
Program Services$64,850ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
SCIENTIFIC ADVISORY BOA$5,613$5,613
CONFERENCE EXPENSES: ME$2,134$2,134
CURRENCY EXCHANGE GAIN/$924$924
BANK SERVICE CHARGE EXP$437$437

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$73,958TotalAmt
Program Services$70,463ProgramServicesAmt
Management And General$3,495ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$7,840BOYAmt
EOY$140,115EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$305,422BOYAmt
EOY$1,008EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$5,903BOYAmt
EOY$30,432EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$319,165BOYAmt
EOY$171,555EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$424,231BOYAmt
EOY$424,231EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$296,117BOYAmt
EOY$148,100EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$720,348BOYAmt
EOY$572,331EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY-$401,183BOYAmt
EOY-$400,776EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY-$401,183BOYAmt
EOY-$400,776EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$319,165BOYAmt
EOY$171,555EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$407ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind
Public Support Total509$0PublicSupportTotal509Amt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Total$0TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090.00000PublicSupportCY509Pct
Investment Income CY0.00000InvestmentIncomeCYPct
Private Foundation509Yes (X)PrivateFoundation509Ind

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (2 entries)

DescDescBook ValueBookValueAmt
UNDEPOSITED FUNDS$1,257
PREPAID EXPENSES$29,175
FieldValueIRS element (for citing)
Total Book Value Other Assets$30,432TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
SHORT TERM LOAN$6,500
SBA EIDL LOAN$141,600
FieldValueIRS element (for citing)
Total Liability$148,100TotalLiabilityAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE DIRECTORS OF THE ORGANIZATION MEET & REVIEW EVERY LINE ITEM OF THE FILING
FORM 990, PART VI, SECTION C, LINE 19DOCUMENTS ARE AVAILABLE @ ENTITIES OFFICE FOR PUBLIC VIEWING.
FORM 990. PART XI LINE 2C.THE ORGANIZATIONS FINANCIAL COMMITTEE REVIEWS THE FINANCIAL STATEMENTS PREPARED BY THE OUTSIDE CPA FIRM

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