Somerset Collection Charitable FDN

Analysis

Somerset Collection Charitable FDN is a registered charity in United States, based in Troy, MI. It received its IRS tax-exemption ruling in July 2004, 22 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Somerset Collection Charitable FDN reported income of $111k and spending of $290k, spending 262% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $176k to $111k (-37%), an average of -11% a year. The sharpest change came in the year to December 2021, when income rose by 195%. Over the whole period it spent 90% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Somerset Collection Charitable FDN sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within MI. Charities of a similar size with the same main cause include Equipment Finance Cares Inc ($111k), Hope Center Foundation Inc ($111k) and Hundred Club of Dayton ($111k).

At year end it held assets of $375k against liabilities of $0, net assets of $375k.