Somerset Collection Charitable Fdn
Somerset Collection Charitable Fdn maintains strong asset base despite recent revenue decline and operating deficit.
EIN: 200669940 · Troy, MI · NTEE: T30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $290K |
| Program Spending | 85% |
| Net Assets | $375K |
| Transparency Score | 90/100 |
Is Somerset Collection Charitable Fdn Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Somerset Collection Charitable Fdn directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Somerset Collection Charitable Fdn
Somerset Collection Charitable Fdn (EIN: 200669940) is a nonprofit organization based in Troy, MI, classified under NTEE code T30. The organization reported total revenue of $1.8M and total assets of $647K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Somerset Collection Charitable Fdn's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Somerset Collection Charitable Fdn is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $111K |
| Total Expenses | $290K |
| Surplus / Deficit | $-179,157 |
| Total Assets | $375K |
| Net Assets | $375K |
| Operating Margin | -161.5% |
| Months of Reserves | 15.5 months |
Financial Health Grade: B
In 2023, Somerset Collection Charitable Fdn reported a deficit of $179K with expenses exceeding revenue, holds 15.5 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Somerset Collection Charitable Fdn's revenue has declined at a compound annual growth rate (CAGR) of -5.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -67.1% | +28.5% | -32.3% |
| 2022 | -7.1% | +3.3% | +25.2% |
| 2021 | +194.7% | +121.1% | +48.4% |
| 2020 | -30.2% | -39.1% | +8.9% |
| 2019 | +18.1% | -10.0% | +5.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Somerset Collection Charitable Fdn with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Somerset Collection Charitable Fdn allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $179K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for a foundation of its size.
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 Somerset Collection Charitable Fdn's IRS 990 filings:
- 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
The following positive indicators were identified for Somerset Collection Charitable Fdn:
- 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).
Frequently Asked Questions about Somerset Collection Charitable Fdn
Is Somerset Collection Charitable Fdn a legitimate charity?
Somerset Collection Charitable Fdn (EIN: 200669940) is a registered tax-exempt nonprofit based in Michigan. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.8M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Somerset Collection Charitable Fdn spend its money?
Somerset Collection Charitable Fdn directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Somerset Collection Charitable Fdn tax-deductible?
Somerset Collection Charitable Fdn is registered as a tax-exempt nonprofit (EIN: 200669940). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Somerset Collection Charitable Fdn's spending goes to programs?
Somerset Collection Charitable Fdn directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Somerset Collection Charitable Fdn compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Somerset Collection Charitable Fdn is above average for NTEE category T30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Somerset Collection Charitable Fdn located?
Somerset Collection Charitable Fdn is headquartered in Troy, Michigan and files with the IRS under EIN 200669940. It is classified under NTEE code T30.
How many years of IRS 990 filings does Somerset Collection Charitable Fdn have?
Somerset Collection Charitable Fdn 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 $1.8M in total revenue.
Is Somerset Collection Charitable Fdn a good charity?
Based on the available data, Somerset Collection Charitable Fdn appears to be a good charity. It consistently reports zero officer compensation, maintains a healthy asset base with no liabilities, and has a history of grantmaking. While the latest period shows a revenue decline and operating deficit, its overall financial health remains strong.
How does the organization manage its finances given the revenue fluctuations?
The organization manages its finances by maintaining a strong asset base and consistently reporting zero liabilities. This suggests a conservative financial approach, allowing it to absorb periods of lower revenue, such as the $110,913 in 202312, without incurring debt.
What is the significance of 0% officer compensation?
0% officer compensation is highly significant as it indicates that the organization's leadership is entirely volunteer-based. This practice maximizes the funds available for charitable programs and demonstrates a strong commitment to the mission, enhancing public trust and financial efficiency.
Filing History
IRS 990 filing history for Somerset Collection Charitable Fdn showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Somerset Collection Charitable Fdn's revenue has declined by 46%, moving from $206K to $111K. Total assets decreased by 2.4% over the same period, from $384K to $375K. Total functional expenses fell by 64.3%, from $813K to $290K. In its most recent filing year (2023), Somerset Collection Charitable Fdn reported a deficit of $179K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $111K | $290K | $375K | $0 | — | — |
| 2022 | $337K | $226K | $554K | $0 | — | View 990 |
| 2021 | $363K | $219K | $443K | $0 | — | — |
| 2020 | $123K | $99K | $298K | $0 | — | View 990 |
| 2019 | $176K | $162K | $274K | $0 | — | View 990 |
| 2018 | $149K | $180K | $260K | $0 | — | View 990 |
| 2017 | $192K | $193K | $291K | $0 | — | View 990 |
| 2016 | $275K | $241K | $292K | $0 | — | View 990 |
| 2015 | $179K | $267K | $258K | $0 | — | View 990 |
| 2014 | $350K | $209K | $346K | $0 | — | View 990 |
| 2013 | $65K | $251K | $205K | $0 | — | View 990 |
| 2012 | $499K | $492K | $391K | $0 | — | View 990 |
| 2011 | $206K | $813K | $384K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $111K, expenses of $290K, and assets of $375K (revenue -67.1% year-over-year).
- 2022: Revenue of $337K, expenses of $226K, and assets of $554K (revenue -7.1% year-over-year).
- 2021: Revenue of $363K, expenses of $219K, and assets of $443K (revenue +194.7% year-over-year).
- 2020: Revenue of $123K, expenses of $99K, and assets of $298K (revenue -30.2% year-over-year).
- 2019: Revenue of $176K, expenses of $162K, and assets of $274K (revenue +18.1% year-over-year).
- 2018: Revenue of $149K, expenses of $180K, and assets of $260K (revenue -22.1% year-over-year).
- 2017: Revenue of $192K, expenses of $193K, and assets of $291K (revenue -30.2% year-over-year).
- 2016: Revenue of $275K, expenses of $241K, and assets of $292K (revenue +53.8% year-over-year).
- 2015: Revenue of $179K, expenses of $267K, and assets of $258K (revenue -48.9% year-over-year).
- 2014: Revenue of $350K, expenses of $209K, and assets of $346K (revenue +440.4% year-over-year).
- 2013: Revenue of $65K, expenses of $251K, and assets of $205K (revenue -87.0% year-over-year).
- 2012: Revenue of $499K, expenses of $492K, and assets of $391K (revenue +142.8% year-over-year).
- 2011: Revenue of $206K, expenses of $813K, and assets of $384K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Somerset Collection Charitable Fdn:
Data Sources and Methodology
This transparency report for Somerset Collection Charitable Fdn 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.