Somerset Educational Broadcasting Foundation

Analysis

Somerset Educational Broadcasting Foundation is a registered charity in United States, based in Somerset, KY. It received its IRS tax-exemption ruling in July 1985, 41 years ago. 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 Educational Broadcasting Foundation reported income of $957k and spending of $1.0m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $611k to $957k (+57%), an average of +12% a year. The sharpest change came in the year to December 2020, when income rose by 25%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Somerset Educational Broadcasting Foundation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within KY. Charities of a similar size with the same main cause include Hillsboro Area Ambulance Service Inc ($957k), Big Brothers Big Sisters of Southwest Washington ($958k) and Florida Alliance for Civic Engagement Inc ($957k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $146k (14% of expenses). At year end it held assets of $494k against liabilities of $0, net assets of $494k. It reported 7 employees.