Somali American Community

Analysis

Somali American Community is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in June 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Somali American Community reported income of $226k and spending of $258k, spending 114% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income fell from $226k to $226k (-0.1%), an average of -0.1% a year. The sharpest change came in the year to December 2021, when income rose by 209%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Somali American Community sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within MN. Charities of a similar size with the same main cause include Palama Muziq Inc ($226k), Breslov Florida Inc ($226k) and Advent Hope Ventures Inc ($226k).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $60k (23% of expenses). Other salaries and wages came to $15k. At year end it held assets of $78k against liabilities of $73k, net assets of $5,266. It reported 2 employees.