Downtown Somerville Alliance

Analysis

Downtown Somerville Alliance is a registered charity in United States, based in Somerville, NJ. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Downtown Somerville Alliance reported income of $954k 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 fell from $1.1m to $954k (-9.7%), an average of -2.5% a year. The sharpest change came in the year to December 2020, when income dropped by 43%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Downtown Somerville Alliance sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within NJ. Charities of a similar size with the same main cause include American Society of Brewing Chemists Inc ($954k), South Bend & Vicinity Electrical ($954k) and California Center for Cooperation Development ($954k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Other salaries and wages came to $85k. At year end it held assets of $0 against liabilities of $182k, net assets of -$182k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.