The Somerville Foundation Inc

Analysis

The Somerville Foundation Inc is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in February 2019, 7 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 June 2023, The Somerville Foundation Inc reported income of $276k and spending of $228k, spending 83% of its income. Across the 3 years on record, from June 2021 to June 2023, income fell from $286k to $276k (-3.7%), an average of -1.9% a year. The sharpest change came in the year to June 2023, when income rose by 361%. Over the whole period it spent 67% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Somerville Foundation Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 62nd percentile within MA. Charities of a similar size with the same main cause include Tyson Library Assoc ($276k), Ashinaga Inc ($276k) and Crescent Montessori School Inc ($276k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 7.7% of the total. At year end it held assets of $258k against liabilities of $37k, net assets of $221k.