Somos Unidos Foundation

Analysis

Somos Unidos Foundation is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in May 2020, 6 years ago. 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, Somos Unidos Foundation reported income of $475k and spending of $572k, spending 120% of what it took in. Across the 2 years on record, from December 2021 to December 2022, income fell from $524k to $475k (-9.5%), an average of -9.5% a year. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Somos Unidos Foundation sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within NM. Charities of a similar size with the same main cause include Quoddy Tides Foundation ($475k), Y W C a of Greater Johnstown ($475k) and Bar Harbor Historical Society Inc ($475k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 63% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $64k (11% of expenses). Other salaries and wages came to $230k. At year end it held assets of $200k against liabilities of $42k, net assets of $158k. It reported 14 employees.