Somerset Committee for the Homeless Inc

Analysis

Somerset Committee for the Homeless Inc is a registered charity in United States, based in Princess Anne, MD. It received its IRS tax-exemption ruling in June 1998, 28 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 (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 Committee for the Homeless Inc reported income of $528k and spending of $345k, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $324k to $528k (+63%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 76%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Somerset Committee for the Homeless Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MD. Charities of a similar size with the same main cause include Liberty Manor for Veterans Inc ($528k), Federation Manor Inc ($528k) and St Francis of Assissi Inc ($528k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $135k. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.