Somali Success School

Analysis

Somali Success School is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Somali Success School reported income of $1.2m and spending of $736k, leaving 39% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $715k to $1.2m (+69%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 57%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somali Success School sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MN. Charities of a similar size with the same main cause include Vital Immigrant Defense Advocacy & Services ($1.2m), A F I R E of Pasco County Inc ($1.2m) and Seagle Music Colony Inc ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $135k (18% of expenses). Other salaries and wages came to $367k. At year end it held assets of $2.2m against liabilities of $395k, net assets of $1.8m. It reported 9 employees.