Somang Society

Analysis

Somang Society is a registered charity in United States, based in Cypress, CA. It received its IRS tax-exemption ruling in January 2008, 18 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 December 2023, Somang Society reported income of $653k and spending of $781k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $595k to $653k (+9.7%), an average of +2.4% a year. The sharpest change came in the year to December 2021, when income rose by 58%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somang Society sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include Parents and Childrens Nursery School ($653k), Chico State Cim Patrons ($653k) and Substance Abuse Free Environment Inc ($653k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 8.0% of the total. Other salaries and wages came to $134k. At year end it held assets of $345k against liabilities of $2,773, net assets of $342k. It reported 11 employees.