Somali Medical Association Of America
EIN: 832597061 · Minneapolis, MN · NTEE: E03
| Metric | Value |
|---|---|
| Total Revenue | $311K |
| Total Expenses | $268K |
| Net Assets | $43K |
Is Somali Medical Association Of America Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Somali Medical Association Of America
Somali Medical Association Of America (EIN: 832597061) is a nonprofit organization based in Minneapolis, MN, classified under NTEE code E03. The organization reported total revenue of $311K and total assets of $159K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Somali Medical Association Of America's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Somali Medical Association Of America is a small nonprofit that has been operating for 4 years, with 2 years of IRS 990 filings on record (2022–2023). Revenue has grown at a compound annual rate of 41.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $345K |
| Total Expenses | $268K |
| Surplus / Deficit | +$77K |
| Total Assets | $44K |
| Total Liabilities | $719 |
| Net Assets | $43K |
| Operating Margin | 22.3% |
| Debt-to-Asset Ratio | 1.6% |
| Months of Reserves | 2.0 months |
Financial Health Grade: A
In 2023, Somali Medical Association Of America reported a surplus of $77K with revenue exceeding expenses, holds 2.0 months of operating reserves (limited), has a debt-to-asset ratio of 1.6% (very low leverage).
Financial Trends
Over 2 years of filings (2022–2023), Somali Medical Association Of America's revenue has grown at a compound annual growth rate (CAGR) of 41.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +41.1% | -1.3% | -34.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2022 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Somali Medical Association Of America has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Somali Medical Association Of America with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $77K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.6%.
Frequently Asked Questions about Somali Medical Association Of America
Is Somali Medical Association Of America a legitimate charity?
Based on AI analysis of IRS 990 filings, Somali Medical Association Of America (EIN: 832597061) insufficient data. 0 red flags identified, 0 strengths noted.
How does Somali Medical Association Of America spend its money?
Detailed spending breakdown data is not yet available for Somali Medical Association Of America. Check back for updated IRS 990 analysis.
Are donations to Somali Medical Association Of America tax-deductible?
Somali Medical Association Of America is registered as a tax-exempt nonprofit (EIN: 832597061). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Somali Medical Association Of America located?
Somali Medical Association Of America is headquartered in Minneapolis, Minnesota and files with the IRS under EIN 832597061. It is classified under NTEE code E03.
How many years of IRS 990 filings does Somali Medical Association Of America have?
Somali Medical Association Of America has 2 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $311K in total revenue.
Filing History
IRS 990 filing history for Somali Medical Association Of America showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Somali Medical Association Of America's revenue has grown by 41.1%, moving from $244K to $345K. Total assets decreased by 34.1% over the same period, from $66K to $44K. Total functional expenses fell by 1.3%, from $271K to $268K. In its most recent filing year (2023), Somali Medical Association Of America reported a surplus of $77K, with revenue exceeding expenses. The organization holds $719 in liabilities against $44K in assets (debt-to-asset ratio: 1.6%), resulting in net assets of $43K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $345K | $268K | $44K | $719 | — | — |
| 2022 | $244K | $271K | $66K | $80K | — | — |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Somali Medical Association Of America:
Data Sources and Methodology
This transparency report for Somali Medical Association Of America 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.