Somerset Lane Inc

Analysis

Somerset Lane Inc is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in April 1983, 43 years ago. 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, Somerset Lane Inc reported income of $245k and spending of $415k, spending 170% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $400k to $245k (-39%), an average of -12% a year. The sharpest change came in the year to December 2023, when income dropped by 41%. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Somerset Lane Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within OH. Charities of a similar size with the same main cause include National School Plant Management Association Inc 1 ($245k), Genesee Orleans Ministry of Concern Inc ($245k) and Wounded Warriors United of Wisconsin ($245k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $55k. At year end it held assets of $0 against liabilities of $0, net assets of $0. It reported 2 employees.