Sommerset Place

Analysis

Sommerset Place is a registered charity in United States, based in Auburn, KS. It received its IRS tax-exemption ruling in December 1974, 52 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 May 2023, Sommerset Place reported income of $373k and spending of $352k, spending 94% of its income. Across the 4 years on record, from May 2019 to May 2023, income grew from $307k to $373k (+22%), an average of +6.8% a year. Over the whole period it spent 102% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Sommerset Place sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 66th percentile within KS. Charities of a similar size with the same main cause include Ridge Oak Management Inc ($373k), Holy Family Home for Mothers and Children ($373k) and Vernon Senior Citizens Housing Development Corporation ($373k).

On its Form 990 for the period ending May 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $47k. At year end it held assets of $314k against liabilities of $174k, net assets of $140k. It reported 1 employees.