Somerset Community College Foundation Inc

Analysis

Somerset Community College Foundation Inc is a registered charity in United States, based in Somerset, KY. It received its IRS tax-exemption ruling in March 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Somerset Community College Foundation Inc reported income of $444k and spending of $339k, leaving 24% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $322k to $444k (+38%), an average of +8.3% a year. The sharpest change came in the year to June 2022, when income rose by 198%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somerset Community College Foundation Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within KY. Charities of a similar size with the same main cause include Naples Bridge Center Inc ($444k), Ohio County Eagles Booster Inc ($444k) and Under the Rainbow Inc ($444k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% of the total. At year end it held assets of $993k against liabilities of $3,750, net assets of $989k.