Somerset Hills Learning Institute Inc

Analysis

Somerset Hills Learning Institute Inc is a registered charity in United States, based in Bedminster, NJ. It received its IRS tax-exemption ruling in April 1999, 27 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Somerset Hills Learning Institute Inc reported income of $5.7m and spending of $6.2m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.5m to $5.7m (+3.8%), an average of +0.9% a year. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somerset Hills Learning Institute Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NJ. Charities of a similar size with the same main cause include Union Day School Inc ($5.7m), Imagine Me Leadership Charter School ($5.7m) and Indianapolis Christian School System Inc ($5.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $330k (5.4% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $10.5m against liabilities of $1.9m, net assets of $8.6m. It reported 81 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.