Somerset Scholarship Fund

Analysis

Somerset Scholarship Fund is a registered charity in United States, based in Mendota HTS, MN. It received its IRS tax-exemption ruling in March 2012, 14 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 December 2023, Somerset Scholarship Fund reported income of $97k and spending of $92k, spending 94% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $97k to $97k (-0.4%), an average of -0.4% a year. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somerset Scholarship Fund sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 34th percentile within MN. Charities of a similar size with the same main cause include Chu Vision Foundation ($97k), Hudson County Schools of Technologyfoundation a Nonprofit Corp ($97k) and Parent Teacher Organization of Arnett C Lines School ($97k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $153k against liabilities of $0, net assets of $153k.