Somerset Academy Arizona Inc

Analysis

Somerset Academy Arizona Inc is a registered charity in United States, based in Las Vegas, NV. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Somerset Academy Arizona Inc reported income of $2.5m and spending of $2.3m, spending 89% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.3m to $2.5m (+93%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 38%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somerset Academy Arizona Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within NV. Charities of a similar size with the same main cause include American Hebrew Academy Inc ($2.5m), Mt Scott Park Center for Learning Inc ($2.5m) and Community Innovation Partners ($2.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. Other salaries and wages came to $1.0m. At year end it held assets of $1.5m against liabilities of $635k, net assets of $821k. It reported 31 employees.