Somi Vip Inc

Analysis

Somi Vip Inc is a registered charity in United States, based in South Miami, FL. It received its IRS tax-exemption ruling in November 2010, 16 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, Somi Vip Inc reported income of $236k and spending of $226k, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $361k to $236k (-35%), an average of -10% a year. The sharpest change came in the year to June 2021, when income rose by 259%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somi Vip Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 60th percentile within FL. Charities of a similar size with the same main cause include Cedar Ridge Preschool Inc ($236k), Bourbon on the Banks Inc Festival ($236k) and Baton Rouge Epicurean Society LLC ($236k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $443k against liabilities of $0, net assets of $443k.