Socratus Collective Wisdom Corporation

Analysis

Socratus Collective Wisdom Corporation is a registered charity in United States, based in Belmont, MA. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 2024, Socratus Collective Wisdom Corporation reported income of $649k and spending of $542k, spending 83% of its income. Across the 3 years on record, from June 2022 to June 2024, income grew from $201k to $649k (+223%), an average of +80% a year. The sharpest change came in the year to June 2023, when income rose by 383%. Over the whole period it spent 54% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Socratus Collective Wisdom Corporation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MA. Charities of a similar size with the same main cause include Providence Home ($649k), Etna Commons Inc ($649k) and Brookline School Staff Childrens CE Nter Inc Lincoln Primary School ($649k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $101k (19% of expenses). Other salaries and wages came to $59k. It paid $13k in professional fundraising fees. At year end it held assets of $891k against liabilities of $24k, net assets of $867k. It reported 2 employees.