Somo Project

Analysis

Somo Project is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Somo Project reported income of $1.1m and spending of $965k, spending 91% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $543k to $1.1m (+96%), an average of +25% a year. The sharpest change came in the year to December 2022, when income rose by 58%. Over the whole period it spent 82% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Somo Project sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include International Israel Allies Caucus Foundation Inc ($1.1m), Third Lens Corporation ($1.1m) and Partnership for Transparency Fund Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. It paid $63k in professional fundraising fees. At year end it held assets of $997k against liabilities of $0, net assets of $997k.