The Somerset Foundation Inc

Analysis

The Somerset Foundation Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in August 1992, 34 years ago. Its declared purposes cover unknown, 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 December 2023, The Somerset Foundation Inc reported income of $82k and spending of $84k, spending 102% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $86k to $82k (-4.0%), an average of -4.0% a year. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Somerset Foundation Inc sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 34th percentile within CA. Charities of a similar size with the same main cause include Portuguese Holy Spirit Society Inc ($82k), James Johnson Trust Uw ($82k) and PTA California Congress of Parents Teachers & Students Inc ($82k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $145k against liabilities of $0, net assets of $145k.