Somerset Community Action Program

Analysis

Somerset Community Action Program is a registered charity in United States, based in Somerset, NJ. It received its IRS tax-exemption ruling in October 1966, 60 years ago. The IRS classifies it as a governmental unit under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Somerset Community Action Program reported income of $2.0m and spending of $2.0m, spending 101% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.0m to $2.0m (+95%), an average of +18% a year. The sharpest change came in the year to August 2022, when income rose by 47%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Somerset Community Action Program sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 88th percentile within NJ. Charities of a similar size with the same main cause include Camp Bauercrest Inc ($2.0m), The Maple Counseling Center ($2.0m) and Students of Georgetown Inc ($2.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $110k (5.4% of expenses). Other salaries and wages came to $754k. At year end it held assets of $812k against liabilities of $727k, net assets of $84k. It reported 30 employees.