Somerset County Young Mens Christian Association Inc

Analysis

Somerset County Young Mens Christian Association Inc is a registered charity in United States, based in Basking Ridge, NJ. It received its IRS tax-exemption ruling in October 1960, 66 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Somerset County Young Mens Christian Association Inc reported income of $23.2m and spending of $22.1m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $21.3m to $23.2m (+8.8%), an average of +2.1% a year. The sharpest change came in the year to December 2022, when income rose by 44%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Somerset County Young Mens Christian Association Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NJ. Charities of a similar size with the same main cause include Blakeford at Green Hills Corporation ($23.2m), Caddo Community Action Agency Inc ($23.2m) and Appalachian Agency for Senior Citizens ($23.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 17% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $1.1m (5.0% of expenses). It paid $66k in professional fundraising fees. At year end it held assets of $49.8m against liabilities of $1.9m, net assets of $47.9m. It reported 1,262 employees.