Somerset County Local Management Board

Analysis

Somerset County Local Management Board is a registered charity in United States, based in Westover, MD. It received its IRS tax-exemption ruling in August 2011, 15 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 2023, Somerset County Local Management Board reported income of $858k and spending of $863k, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $962k to $858k (-11%), an average of -2.8% a year. The sharpest change came in the year to June 2020, when income dropped by 20%. Over the whole period it spent 99% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Somerset County Local Management Board sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within MD. Charities of a similar size with the same main cause include Hope Leadership Foundation ($858k), Friends of Camp Gallagher ($859k) and Be a Friend Program Inc ($857k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $65k (7.5% of expenses). Other salaries and wages came to $86k. At year end it held assets of $552k against liabilities of $254k, net assets of $298k. It reported 4 employees.