Somerset Community Services Inc

Analysis

Somerset Community Services Inc is a registered charity in United States, based in Marion Sta, MD. It received its IRS tax-exemption ruling in January 1995, 31 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 June 2024, Somerset Community Services Inc reported income of $24.9m and spending of $21.9m, spending 88% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $16.0m to $24.9m (+56%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somerset Community Services Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MD. Charities of a similar size with the same main cause include Mastery Charter School - Thomascampus ($24.9m), Paramount School of Excellence Incorporated ($24.9m) and Kipp Miami Inc ($24.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $399k (1.8% of expenses). Other salaries and wages came to $14.2m. At year end it held assets of $33.2m against liabilities of $7.7m, net assets of $25.5m. It reported 421 employees.