Homesharing Program Of Somerset County Inc
Homesharing Program of Somerset County: Consistent Mission, Financial Fluctuations
EIN: 222893508 · Bridgewater, NJ · NTEE: L30Z · Updated: 2026-04-04
About Homesharing Program Of Somerset County Inc
Homesharing Program Of Somerset County Inc (EIN: 222893508) is a nonprofit organization based in Bridgewater, NJ, classified under NTEE code L30Z. The organization reported total revenue of $327K and total assets of $296K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Homesharing Program Of Somerset County Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Homesharing Program Of Somerset County Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Homesharing Program Of Somerset County Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 across all available filings, indicating a volunteer-led or extremely low-paid leadership, which is a positive for donor confidence.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Homesharing Program Of Somerset County Inc's IRS 990 filings:
- The significant increase in liabilities from $38,170 in 2021 to $87,582 in 2023 warrants further investigation to understand the nature of these new obligations.
- While assets have grown, the organization experienced a decrease in total assets from $396,622 in 2022 to $360,596 in 2023.
Strengths
The following positive indicators were identified for Homesharing Program Of Somerset County Inc:
- The organization consistently reports 0% compensation for its highest-paid employees, demonstrating a strong commitment to directing funds towards its mission.
- Total assets have shown a general upward trend over the past several years, from $120,098 in 2018 to $360,596 in 2023, indicating financial growth.
- Revenue has remained relatively stable over the past five years, demonstrating consistent donor support and program funding.
Frequently Asked Questions about Homesharing Program Of Somerset County Inc
What does Homesharing Program Of Somerset County Inc do?
Homesharing Program Of Somerset County Inc is a nonprofit organization in the Housing & Shelter sector, located in Bridgewater, New Jersey. It is classified under NTEE code L30Z.
How much revenue does Homesharing Program Of Somerset County Inc have?
Homesharing Program Of Somerset County Inc reported total revenue of $326,620. Based on 13 IRS 990 filings on record.
What are Homesharing Program Of Somerset County Inc's total assets?
Homesharing Program Of Somerset County Inc holds total assets of $296,376 as reported in IRS 990 filings.
Where is Homesharing Program Of Somerset County Inc located?
Homesharing Program Of Somerset County Inc is based in Bridgewater, New Jersey.
What is Homesharing Program Of Somerset County Inc's EIN?
Homesharing Program Of Somerset County Inc's Employer Identification Number (EIN) is 222893508. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Homesharing Program Of Somerset County Inc?
Homesharing Program Of Somerset County Inc is classified under NTEE code L30Z (Housing & Shelter).
Is Homesharing Program Of Somerset County Inc a registered 501(c)(3)?
Yes, Homesharing Program Of Somerset County Inc is recognized as a tax-exempt organization by the IRS. EIN: 222893508.
Does Homesharing Program Of Somerset County Inc file IRS Form 990?
Yes, Homesharing Program Of Somerset County Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Homesharing Program Of Somerset County Inc's revenue in 2023?
In the 202312 filing period, Homesharing Program Of Somerset County Inc reported total revenue of $281,773, total expenses of $309,167, and net assets of $360,596.
Is Homesharing Program Of Somerset County Inc's revenue growing or declining?
Homesharing Program Of Somerset County Inc's revenue is growing. Revenue went from $249,877 (202212) to $281,773 (202312), a +12.8% change. Based on 13 filings on record.
What is Homesharing Program Of Somerset County Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Homesharing Program Of Somerset County Inc covers tax period 202312. It shows revenue of $281,773, expenses of $309,167, total assets of $360,596, and liabilities of $87,582.
How much does Homesharing Program Of Somerset County Inc spend on programs vs administration?
Based on IRS 990 analysis, Homesharing Program Of Somerset County Inc allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Homesharing Program Of Somerset County Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Homesharing Program Of Somerset County Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Homesharing Program Of Somerset County Inc?
The following concerns were identified: The significant increase in liabilities from $38,170 in 2021 to $87,582 in 2023 warrants further investigation to understand the nature of these new obligations.. While assets have grown, the organization experienced a decrease in total assets from $396,622 in 2022 to $360,596 in 2023.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Homesharing Program Of Somerset County Inc's strengths?
Positive indicators for Homesharing Program Of Somerset County Inc include: The organization consistently reports 0% compensation for its highest-paid employees, demonstrating a strong commitment to directing funds towards its mission.. Total assets have shown a general upward trend over the past several years, from $120,098 in 2018 to $360,596 in 2023, indicating financial growth.. Revenue has remained relatively stable over the past five years, demonstrating consistent donor support and program funding.. These findings are derived from AI analysis of the organization's financial filings.
How does Homesharing Program Of Somerset County Inc compensate executives?
Executive compensation is consistently reported as $0 across all available filings, indicating a volunteer-led or extremely low-paid leadership, which is a positive for donor confidence. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of 0% executive compensation, how does the organization sustain its operational leadership and administrative functions?
The consistent 0% executive compensation suggests a strong reliance on volunteer leadership or a structure where key roles are filled by individuals compensated through other means not reported as 'highest paid employee' compensation, or through very modest stipends not reaching reporting thresholds. This model, while efficient for donor funds, could pose sustainability challenges for leadership continuity.
What factors contributed to the significant increase in liabilities from $38,170 in 2021 to $87,582 in 2023, and what is the plan to manage these new obligations?
The increase in liabilities could be due to various factors such as new program initiatives requiring upfront investment, deferred revenue, or new debt. Understanding the specific nature of these liabilities is crucial for assessing the organization's financial health and future stability. Effective management of these obligations will be key to maintaining financial solvency.
Filing History
IRS 990 filing history for Homesharing Program Of Somerset County Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Homesharing Program Of Somerset County Inc's revenue has grown by 22.1%, moving from $231K to $282K. Total assets increased by 100.3% over the same period, from $180K to $361K. Total functional expenses rose by 35.1%, from $229K to $309K. In its most recent filing year (2023), Homesharing Program Of Somerset County Inc reported a deficit of $27K, with expenses exceeding revenue. The organization holds $88K in liabilities against $361K in assets (debt-to-asset ratio: 24.3%), resulting in net assets of $273K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $282K | $309K | $361K | $88K | — | View 990 |
| 2022 | $250K | $240K | $397K | $96K | — | View 990 |
| 2021 | $262K | $239K | $302K | $38K | — | View 990 |
| 2020 | $312K | $207K | $250K | $9K | — | — |
| 2019 | $258K | $238K | $134K | $8K | — | View 990 |
| 2018 | $209K | $235K | $120K | $13K | — | View 990 |
| 2017 | $293K | $278K | $149K | $15K | — | View 990 |
| 2016 | $303K | $328K | $133K | $15K | — | View 990 |
| 2015 | $298K | $337K | $158K | $15K | — | View 990 |
| 2014 | $278K | $293K | $188K | $5K | — | View 990 |
| 2013 | $278K | $301K | $204K | $5K | — | View 990 |
| 2012 | $325K | $279K | $227K | $5K | — | View 990 |
| 2011 | $231K | $229K | $180K | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $282K, expenses of $309K, and assets of $361K (revenue +12.8% year-over-year).
- 2022: Revenue of $250K, expenses of $240K, and assets of $397K (revenue -4.5% year-over-year).
- 2021: Revenue of $262K, expenses of $239K, and assets of $302K (revenue -16.1% year-over-year).
- 2020: Revenue of $312K, expenses of $207K, and assets of $250K (revenue +21.0% year-over-year).
- 2019: Revenue of $258K, expenses of $238K, and assets of $134K (revenue +23.6% year-over-year).
- 2018: Revenue of $209K, expenses of $235K, and assets of $120K (revenue -28.8% year-over-year).
- 2017: Revenue of $293K, expenses of $278K, and assets of $149K (revenue -3.2% year-over-year).
- 2016: Revenue of $303K, expenses of $328K, and assets of $133K (revenue +1.7% year-over-year).
- 2015: Revenue of $298K, expenses of $337K, and assets of $158K (revenue +7.2% year-over-year).
- 2014: Revenue of $278K, expenses of $293K, and assets of $188K (revenue -0.3% year-over-year).
- 2013: Revenue of $278K, expenses of $301K, and assets of $204K (revenue -14.3% year-over-year).
- 2012: Revenue of $325K, expenses of $279K, and assets of $227K (revenue +40.7% year-over-year).
- 2011: Revenue of $231K, expenses of $229K, and assets of $180K.
Data Sources and Methodology
This transparency report for Homesharing Program Of Somerset County Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.