Somesville Landing Corp

Analysis

Somesville Landing Corp is a registered charity in United States, based in Mount Desert, ME. It received its IRS tax-exemption ruling in June 1958, 68 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Somesville Landing Corp reported income of $54k and spending of $58k, spending 108% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $36k to $54k (+47%), an average of +47% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 132% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Somesville Landing Corp sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 14th percentile within ME. Charities of a similar size with the same main cause include Kiwanis Club of Puyallup Foundation Inc ($54k), Parish Resource Center Inc ($54k) and Cambria and Somerset Counties Conservancy ($54k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 99% of the total. At year end it held assets of $338k against liabilities of $0, net assets of $338k.