Spending Breakdown
How Somo Endowment Fund Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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.
AI Transparency Report
Somo Endowment Fund Inc. demonstrates strong financial health in its most recent filings, particularly in 2023 and 2022, where revenues significantly outpaced expenses. For instance, in 2023, the organization reported $118,170 in revenue against only $5,470 in expenses, indicating a substantial surplus. This trend of healthy surpluses in recent years (e.g., $109,950 revenue vs. $45,487 expenses in 2022) has contributed to a steady growth in assets, reaching $467,736 in 2023 from $355,036 in 2022. However, the organization has experienced periods of significant deficits in the past, such as in 2018 where expenses ($3,656,189) vastly exceeded revenue ($745,929), and in 2017 where expenses ($3,293,074) were also substantial. The NTEE code N117 suggests a focus on endowment funds, which typically involves managing assets for long-term support rather than direct program spending, potentially explaining the low expense figures in some years. The consistent reporting of 0% officer compensation across all available filings indicates a commitment to minimizing administrative overhead in this area.
The spending efficiency appears very high in recent years, with expenses being a small fraction of revenue. For example, in 2023, expenses were less than 5% of revenue. This efficiency, combined with the lack of reported officer compensation, suggests that a very high proportion of funds are either being retained for endowment growth or directed towards the organization's underlying purpose, which for an endowment fund is typically asset management and distribution to beneficiaries. The organization's transparency is good, with consistent 990 filings available over a long period, allowing for a clear historical financial review. The absence of officer compensation is a positive indicator of fiscal responsibility and a focus on the endowment's purpose rather than executive remuneration.
While the recent financial performance is robust, the historical volatility in revenue and expenses, particularly the large deficits in 2018 and 2017, warrants attention. These fluctuations could be due to significant grants made or received, or market performance impacting the endowment. However, the current trend shows a stable and growing asset base with minimal operational costs, aligning well with the typical function of an endowment fund. The organization's ability to recover and build its asset base after periods of high expenses demonstrates resilience and effective financial management in the long term.