Somali Community Resettlement of Olmsted County

Analysis

Somali Community Resettlement of Olmsted County is a registered charity in United States, based in Faribault, MN. It received its IRS tax-exemption ruling in February 2000, 26 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Somali Community Resettlement of Olmsted County reported income of $3.7m and spending of $3.7m, spending 100% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $499k to $3.7m (+641%), an average of +95% a year. The sharpest change came in the year to December 2022, when income rose by 145%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Somali Community Resettlement of Olmsted County sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within MN. Charities of a similar size with the same main cause include International Families Association ($3.7m), Hobe Sound Child Care Center Inc ($3.7m) and Envision Dallas Lighthouse Foundation ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $100k (2.7% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $1.3m against liabilities of $1.1m, net assets of $221k. It reported 67 employees.