Somerset Academy of Las Vegas

Analysis

Somerset Academy of Las Vegas is a registered charity in United States, based in N Las Vegas, NV. It received its IRS tax-exemption ruling in April 2015, 11 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 Academy of Las Vegas reported income of $88.5m and spending of $93.9m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $67.7m to $88.5m (+31%), an average of +6.9% a year. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somerset Academy of Las Vegas sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within NV. Charities of a similar size with the same main cause include Queens University of Charlotte ($88.4m), Seminole Boosters Inc ($88.8m) and Perkins School for the Blind ($88.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 10.0% and program service revenue 88% of the total. Other salaries and wages came to $42.1m. At year end it held assets of $211.3m against liabilities of $217.8m, net assets of -$6.5m. It reported 1,002 employees.