Significant revenue decline in the latest period (202312) from $337,320 to $110,913.
Operating deficit of $179,157 in the latest period (202312), where expenses ($290,070) exceeded revenue ($110,913).
Strengths
Consistent 0% officer compensation across all reported periods, indicating volunteer leadership.
Maintains a healthy asset base ($375,200 in 202312) with no reported liabilities, demonstrating strong financial stability.
History of prudent financial management, consistently reporting zero liabilities.
Strong program focus implied by the NTEE code T30 (Philanthropy, Voluntarism, and Grantmaking Foundations).
Spending Breakdown
How Somerset Collection Charitable Fdn allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Somerset Collection Charitable Fdn
Is Somerset Collection Charitable Fdn a legitimate charity?
Based on AI analysis of IRS 990 filings, Somerset Collection Charitable Fdn (EIN: 200669940) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
Is Somerset Collection Charitable Fdn a good charity to donate to?
Somerset Collection Charitable Fdn has a Mission Score of 90/100. Revenue: $1.8M. Assets: $647K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Somerset Collection Charitable Fdn?
The Employer Identification Number (EIN) for Somerset Collection Charitable Fdn is 200669940. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Somerset Collection Charitable Fdn spend its money?
Somerset Collection Charitable Fdn allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Somerset Collection Charitable Fdn's tax-exempt status?
You can verify Somerset Collection Charitable Fdn's tax-exempt status using EIN 200669940 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Somerset Collection Charitable Fdn demonstrates a consistent commitment to its mission, as evidenced by its historical financial data. While the organization experienced a significant revenue decline in the latest period (202312) to $110,913 from $337,320 in 202212, its expenses also decreased, though not proportionally, leading to a deficit of $179,157. Despite this, the foundation has maintained a healthy asset base, with $375,200 in assets and no liabilities reported in 202312, indicating good financial stability. The absence of officer compensation across all reported periods is a strong indicator of efficient resource allocation and a volunteer-driven leadership model, contributing positively to its transparency and public trust.
The foundation's spending efficiency appears to be strong, particularly given the zero officer compensation. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging. The consistent reporting of zero liabilities across all filings is a significant strength, suggesting sound financial management and a low-risk profile. The organization's ability to operate without incurring debt, even during periods of fluctuating revenue, speaks to its prudent financial practices. The NTEE code T30 (Philanthropy, Voluntarism, and Grantmaking Foundations) aligns with its charitable purpose, and the financial data supports its role as a grantmaking entity.