Somernites Cruise Inc
Somernites Cruise Inc. consistently operates debt-free with no executive compensation.
EIN: 204277350 · Somerset, KY · NTEE: S122 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $412K |
| Total Expenses | $268K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $412,484. |
| Net Assets | $192K |
| Transparency Score | 95/100 |
Is Somernites Cruise Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Somernites Cruise Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Somernites Cruise Inc
Somernites Cruise Inc (EIN: 204277350) is a nonprofit organization based in Somerset, KY, classified under NTEE code S122. The organization reported total revenue of $412K and total assets of $202K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Somernites Cruise Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Somernites Cruise Inc is a small nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $210K |
| Total Expenses | $268K |
| Surplus / Deficit | $-58,764 |
| Total Assets | $192K |
| Net Assets | $192K |
| Operating Margin | -28.0% |
| Months of Reserves | 8.6 months |
Financial Health Grade: B
In 2023, Somernites Cruise Inc reported a deficit of $59K with expenses exceeding revenue, holds 8.6 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Somernites Cruise Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -23.7% | -11.2% | -23.5% |
| 2022 | -10.4% | +40.6% | -10.0% |
| 2021 | +40.9% | +10.4% | +49.0% |
| 2020 | -0.5% | -10.3% | +13.9% |
| 2019 | +24.1% | -0.3% | +1.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Somernites Cruise Inc with a Mission Score of 95 out of 100 (Excellent). 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: 90%
- fundraising: 0%
According to IRS 990 filings, Somernites Cruise Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $59K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for an organization with latest revenue of $412,484.
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.
Strengths
The following positive indicators were identified for Somernites Cruise Inc:
- Consistently reports $0 in liabilities across all 13 filings, indicating strong financial health and no debt.
- Reports 0% officer compensation in all filings, demonstrating a volunteer-driven leadership model and efficient use of funds.
- Maintains a healthy asset base, with assets of $202,393 against latest revenue of $412,484.
- Consistent IRS 990 filing history (13 filings) demonstrates strong transparency and compliance.
- Efficient operations, as evidenced by the lack of executive compensation and liabilities, suggesting a high proportion of funds go directly to mission-related activities.
Frequently Asked Questions about Somernites Cruise Inc
Is Somernites Cruise Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Somernites Cruise Inc (EIN: 204277350) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Somernites Cruise Inc spend its money?
Somernites Cruise Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Somernites Cruise Inc tax-deductible?
Somernites Cruise Inc is registered as a tax-exempt nonprofit (EIN: 204277350). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Somernites Cruise Inc CEO make?
Somernites Cruise Inc's highest-compensated officer earns $412,484. annually. The organization reported $412K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Somernites Cruise Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Somernites Cruise Inc is above average for NTEE category S122 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Somernites Cruise Inc located?
Somernites Cruise Inc is headquartered in Somerset, Kentucky and files with the IRS under EIN 204277350. It is classified under NTEE code S122.
How many years of IRS 990 filings does Somernites Cruise Inc have?
Somernites Cruise Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $412K in total revenue.
Is Somernites Cruise Inc. financially stable?
Yes, Somernites Cruise Inc. appears financially stable. It consistently reports $0 in liabilities across all 13 filings, indicating no debt. While expenses occasionally exceed revenue (e.g., 202312: Revenue=$209,516, Expenses=$268,280), its asset base remains healthy (e.g., $191,740 in 202312).
How does Somernites Cruise Inc. manage its leadership costs?
Somernites Cruise Inc. manages its leadership costs exceptionally well by reporting 0% officer compensation in all available filings. This means its officers are unpaid volunteers, significantly reducing administrative overhead.
What is the trend in Somernites Cruise Inc.'s revenue?
Somernites Cruise Inc.'s revenue has fluctuated over the years, ranging from a low of $176,143 in 201812 to a high of $306,421 in 202112 among the detailed filings, with the latest reported revenue at $412,484. There isn't a clear consistent upward or downward trend, but it maintains a substantial operational budget.
Filing History
IRS 990 filing history for Somernites Cruise Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Somernites Cruise Inc's revenue has grown by 62.1%, moving from $129K to $210K. Total assets increased by 199.3% over the same period, from $64K to $192K. Total functional expenses rose by 89.5%, from $142K to $268K. In its most recent filing year (2023), Somernites Cruise Inc reported a deficit of $59K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $210K | $268K | $192K | $0 | — | — |
| 2022 | $274K | $302K | $251K | $0 | — | — |
| 2021 | $306K | $215K | $278K | $0 | — | View 990 |
| 2020 | $217K | $195K | $187K | $0 | — | View 990 |
| 2019 | $219K | $217K | $164K | $0 | — | View 990 |
| 2018 | $176K | $218K | $162K | $0 | — | View 990 |
| 2017 | $237K | $223K | $204K | $0 | — | View 990 |
| 2016 | $251K | $185K | $190K | $0 | — | View 990 |
| 2015 | $207K | $190K | $124K | $0 | — | View 990 |
| 2014 | $221K | $173K | $107K | $0 | — | View 990 |
| 2013 | $152K | $174K | $58K | $0 | — | View 990 |
| 2012 | $184K | $168K | $80K | $0 | — | View 990 |
| 2011 | $129K | $142K | $64K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $210K, expenses of $268K, and assets of $192K (revenue -23.7% year-over-year).
- 2022: Revenue of $274K, expenses of $302K, and assets of $251K (revenue -10.4% year-over-year).
- 2021: Revenue of $306K, expenses of $215K, and assets of $278K (revenue +40.9% year-over-year).
- 2020: Revenue of $217K, expenses of $195K, and assets of $187K (revenue -0.5% year-over-year).
- 2019: Revenue of $219K, expenses of $217K, and assets of $164K (revenue +24.1% year-over-year).
- 2018: Revenue of $176K, expenses of $218K, and assets of $162K (revenue -25.5% year-over-year).
- 2017: Revenue of $237K, expenses of $223K, and assets of $204K (revenue -5.8% year-over-year).
- 2016: Revenue of $251K, expenses of $185K, and assets of $190K (revenue +21.1% year-over-year).
- 2015: Revenue of $207K, expenses of $190K, and assets of $124K (revenue -6.3% year-over-year).
- 2014: Revenue of $221K, expenses of $173K, and assets of $107K (revenue +45.9% year-over-year).
- 2013: Revenue of $152K, expenses of $174K, and assets of $58K (revenue -17.7% year-over-year).
- 2012: Revenue of $184K, expenses of $168K, and assets of $80K (revenue +42.6% year-over-year).
- 2011: Revenue of $129K, expenses of $142K, and assets of $64K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Somernites Cruise Inc:
Data Sources and Methodology
This transparency report for Somernites Cruise 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.