Somc Medical Group PC

Analysis

Somc Medical Group PC is a registered charity in United States, based in Iselin, NJ. It received its IRS tax-exemption ruling in November 2010, 16 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Somc Medical Group PC reported income of $15.3m and spending of $15.3m, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.5m to $15.3m (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2020, when income rose by 41%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Somc Medical Group PC sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include Hardin County General Hospital ($15.3m), Lorain County Health & Dentistry ($15.3m) and Easter Seal Rehabilitation Center Inc ($15.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. At year end it held assets of $3.7m against liabilities of $3.9m, net assets of -$196k.