Southmore Foundation Inc

Analysis

Southmore Foundation Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in December 1984, 42 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Southmore Foundation Inc reported income of $687k and spending of $702k, spending 102% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $1.1m to $687k (-37%), an average of -8.8% a year. The sharpest change came in the year to December 2020, when income dropped by 54%. Over the whole period it spent 71% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Southmore Foundation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 79th percentile within TX. Charities of a similar size with the same main cause include Breaking Bonds Ministries ($687k), Yeshivas Abirey Lev ($687k) and Mercy Gate Ministries ($687k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $8,000 (1.1% of expenses). Other salaries and wages came to $204k. At year end it held assets of $9.4m against liabilities of $2.8m, net assets of $6.6m. It reported 23 employees.