Somerset Committee For The Homeless Inc
EIN: 522022417 · Princess Anne, MD · NTEE: L41Z
| Metric | Value |
|---|---|
| Total Revenue | $528K |
| Total Expenses | $345K |
| Net Assets | $1.1M |
Is Somerset Committee For The Homeless Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Somerset Committee For The Homeless Inc
Somerset Committee For The Homeless Inc (EIN: 522022417) is a nonprofit organization based in Princess Anne, MD, classified under NTEE code L41Z. The organization reported total revenue of $528K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Somerset Committee For The Homeless Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Somerset Committee For The Homeless Inc is a small nonprofit that has been operating for 28 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 30.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $528K |
| Total Expenses | $345K |
| Surplus / Deficit | +$183K |
| Total Assets | $1.1M |
| Net Assets | $1.1M |
| Operating Margin | 34.7% |
| Months of Reserves | 39.3 months |
Financial Health Grade: A
In 2023, Somerset Committee For The Homeless Inc reported a surplus of $183K with revenue exceeding expenses, holds 39.3 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2011–2023), Somerset Committee For The Homeless Inc's revenue has grown at a compound annual growth rate (CAGR) of 30.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.5% | -34.3% | +9.0% |
| 2022 | +75.7% | +44.9% | +1.4% |
| 2021 | +2.9% | +38.2% | -5.0% |
| 2020 | -12.8% | -15.4% | -2.0% |
| 2019 | +5.0% | -5.1% | +1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Somerset Committee For The Homeless Inc 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 Somerset Committee For The Homeless Inc 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 $183K, with revenue exceeding expenses.
Frequently Asked Questions about Somerset Committee For The Homeless Inc
Is Somerset Committee For The Homeless Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Somerset Committee For The Homeless Inc (EIN: 522022417) insufficient data. 0 red flags identified, 0 strengths noted.
How does Somerset Committee For The Homeless Inc spend its money?
Detailed spending breakdown data is not yet available for Somerset Committee For The Homeless Inc. Check back for updated IRS 990 analysis.
Are donations to Somerset Committee For The Homeless Inc tax-deductible?
Somerset Committee For The Homeless Inc is registered as a tax-exempt nonprofit (EIN: 522022417). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Somerset Committee For The Homeless Inc located?
Somerset Committee For The Homeless Inc is headquartered in Princess Anne, Maryland and files with the IRS under EIN 522022417. It is classified under NTEE code L41Z.
How many years of IRS 990 filings does Somerset Committee For The Homeless Inc have?
Somerset Committee For The Homeless Inc has 12 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 $528K in total revenue.
Filing History
IRS 990 filing history for Somerset Committee For The Homeless Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Somerset Committee For The Homeless Inc's revenue has grown by 2434%, moving from $21K to $528K. Total assets increased by 2130.9% over the same period, from $51K to $1.1M. Total functional expenses rose by 2075.1%, from $16K to $345K. In its most recent filing year (2023), Somerset Committee For The Homeless Inc reported a surplus of $183K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $528K | $345K | $1.1M | $0 | — | — |
| 2022 | $510K | $525K | $1.0M | $29K | — | View 990 |
| 2021 | $290K | $362K | $1.0M | $0 | — | View 990 |
| 2020 | $282K | $262K | $1.1M | $0 | — | — |
| 2019 | $324K | $310K | $1.1M | $0 | — | View 990 |
| 2018 | $308K | $326K | $1.1M | $0 | — | View 990 |
| 2017 | $125K | $70K | $1.1M | $0 | — | View 990 |
| 2016 | $2K | $11K | $65K | $33K | — | View 990 |
| 2014 | $15K | $11K | $87K | $33K | — | View 990 |
| 2013 | $37K | $34K | $82K | $33K | — | View 990 |
| 2012 | $19K | $23K | $80K | $33K | — | View 990 |
| 2011 | $21K | $16K | $51K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $528K, expenses of $345K, and assets of $1.1M (revenue +3.5% year-over-year).
- 2022: Revenue of $510K, expenses of $525K, and assets of $1.0M (revenue +75.7% year-over-year).
- 2021: Revenue of $290K, expenses of $362K, and assets of $1.0M (revenue +2.9% year-over-year).
- 2020: Revenue of $282K, expenses of $262K, and assets of $1.1M (revenue -12.8% year-over-year).
- 2019: Revenue of $324K, expenses of $310K, and assets of $1.1M (revenue +5.0% year-over-year).
- 2018: Revenue of $308K, expenses of $326K, and assets of $1.1M (revenue +146.0% year-over-year).
- 2017: Revenue of $125K, expenses of $70K, and assets of $1.1M (revenue +7353.9% year-over-year).
- 2016: Revenue of $2K, expenses of $11K, and assets of $65K (revenue -88.7% year-over-year).
- 2014: Revenue of $15K, expenses of $11K, and assets of $87K (revenue -59.4% year-over-year).
- 2013: Revenue of $37K, expenses of $34K, and assets of $82K (revenue +94.7% year-over-year).
- 2012: Revenue of $19K, expenses of $23K, and assets of $80K (revenue -9.3% year-over-year).
- 2011: Revenue of $21K, expenses of $16K, and assets of $51K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Somerset Committee For The Homeless Inc:
Data Sources and Methodology
This transparency report for Somerset Committee For The Homeless 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.