Somerset Medical Center
Somerset Medical Center: Declining Revenue and Asset Base Raise Concerns
EIN: 221487350 · Somerville, NJ · NTEE: E220 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Expenses | $122.5M |
| Program Spending | 75% |
| Transparency Score | 65/100 |
Is Somerset Medical Center Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Somerset Medical Center directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Somerset Medical Center
Somerset Medical Center (EIN: 221487350) is a nonprofit organization based in Somerville, NJ, classified under NTEE code E220. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Somerset Medical Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Somerset Medical Center is a major nonprofit that has been operating for 84 years, with 4 years of IRS 990 filings on record (2011–2014). Revenue has grown at a compound annual rate of -25.6%.
Key Financial Metrics (2014)
From the most recent IRS 990 filing on record:
| Total Revenue | $107.3M |
| Total Expenses | $122.5M |
| Surplus / Deficit | $-15,276,019 |
| Total Assets | $0 |
| Net Assets | $0 |
| Operating Margin | -14.2% |
| Months of Reserves | 0.0 months |
Financial Health Grade: C
In 2014, Somerset Medical Center reported a deficit of $15.3M with expenses exceeding revenue, holds 0.0 months of operating reserves (limited).
Financial Trends
Over 4 years of filings (2011–2014), Somerset Medical Center's revenue has declined at a compound annual growth rate (CAGR) of -25.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2014 | -57.2% | -51.9% | -100.0% |
| 2013 | -1.8% | -0.7% | -3.8% |
| 2012 | -1.9% | -3.1% | +0.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1942 |
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 Medical Center with a Mission Score of 65 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Somerset Medical Center allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2014)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $15.3M, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation cannot be assessed due to the absence of specific compensation figures in the provided data.
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 Medical Center's IRS 990 filings:
- Dramatic and unexplained drop in reported revenue from $250,889,799 in 2013 to $10,726,551 in 2014.
- Assets reported as $0 in 2014 after being over $220 million in prior years, indicating a potential data error or significant event.
- Inconsistent reporting of financial figures across different filing periods makes trend analysis unreliable.
Strengths
The following positive indicators were identified for Somerset Medical Center:
- Historically reported significant revenue and assets, suggesting a substantial operational scale in prior years.
Frequently Asked Questions about Somerset Medical Center
Is Somerset Medical Center a legitimate charity?
Based on AI analysis of IRS 990 filings, Somerset Medical Center (EIN: 221487350) some concerns. Mission Score: 65/100. 3 red flags identified, 1 strength noted.
How does Somerset Medical Center spend its money?
Somerset Medical Center directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Somerset Medical Center tax-deductible?
Somerset Medical Center is registered as a tax-exempt nonprofit (EIN: 221487350). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Somerset Medical Center's spending goes to programs?
Somerset Medical Center directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Somerset Medical Center compare to similar nonprofits?
With a transparency score of 65/100 (Good), Somerset Medical Center is above average for NTEE category E220 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Somerset Medical Center located?
Somerset Medical Center is headquartered in Somerville, New Jersey and files with the IRS under EIN 221487350. It is classified under NTEE code E220.
How many years of IRS 990 filings does Somerset Medical Center have?
Somerset Medical Center has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data.
What does Somerset Medical Center do?
Somerset Medical Center is a nonprofit organization in the Health Care sector, located in Somerville, New Jersey. It is classified under NTEE code E220.
How much revenue does Somerset Medical Center have?
Somerset Medical Center reported total revenue of N/A. Based on 4 IRS 990 filings on record.
What are Somerset Medical Center's total assets?
Somerset Medical Center holds total assets of N/A as reported in IRS 990 filings.
Where is Somerset Medical Center located?
Somerset Medical Center is based in Somerville, New Jersey.
What is Somerset Medical Center's EIN?
Somerset Medical Center's Employer Identification Number (EIN) is 221487350. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Somerset Medical Center?
Somerset Medical Center is classified under NTEE code E220 (Health Care).
Is Somerset Medical Center a registered 501(c)(3)?
Yes, Somerset Medical Center is recognized as a tax-exempt organization by the IRS. EIN: 221487350.
Does Somerset Medical Center file IRS Form 990?
Yes, Somerset Medical Center has 4 IRS Form 990 filings on record. The most recent covers tax period 201405.
What was Somerset Medical Center's revenue in 2014?
In the 201405 filing period, Somerset Medical Center reported total revenue of $107,265,511, total expenses of $122,541,530, and net assets of N/A.
Is Somerset Medical Center's revenue growing or declining?
Somerset Medical Center's revenue is declining. Revenue went from $250,889,799 (201312) to $107,265,511 (201405), a -57.2% change. Based on 4 filings on record.
What is Somerset Medical Center's most recent 990 filing?
The most recent IRS Form 990 filing for Somerset Medical Center covers tax period 201405. It shows revenue of $107,265,511, expenses of $122,541,530, total assets of N/A, and liabilities of N/A.
How much does Somerset Medical Center spend on programs vs administration?
Based on IRS 990 analysis, Somerset Medical Center allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Somerset Medical Center a trustworthy charity?
Based on AI analysis of IRS 990 data, Somerset Medical Center shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 1 strength noted.
What are the red flags for Somerset Medical Center?
The following concerns were identified: Dramatic and unexplained drop in reported revenue from $250,889,799 in 2013 to $10,726,551 in 2014.. Assets reported as $0 in 2014 after being over $220 million in prior years, indicating a potential data error or significant event.. Inconsistent reporting of financial figures across different filing periods makes trend analysis unreliable.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Somerset Medical Center's strengths?
Positive indicators for Somerset Medical Center include: Historically reported significant revenue and assets, suggesting a substantial operational scale in prior years.. These findings are derived from AI analysis of the organization's financial filings.
How does Somerset Medical Center compensate executives?
Executive compensation cannot be assessed due to the absence of specific compensation figures in the provided data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What caused the precipitous decline in reported revenue and assets from 2013 to 2014, specifically from $250,889,799 to $10,726,551 in revenue and $221,587,533 to $0 in assets?
The provided data does not offer an explanation for this drastic change. It could indicate a merger, acquisition, change in reporting entity, or a significant data entry error.
Filing History
IRS 990 filing history for Somerset Medical Center showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2011–2014), Somerset Medical Center's revenue has declined by 58.8%, moving from $260.4M to $107.3M. Total assets decreased by 100% over the same period, from $229.5M to $0. Total functional expenses fell by 53.7%, from $264.9M to $122.5M. In its most recent filing year (2014), Somerset Medical Center reported a deficit of $15.3M, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2014 | $107.3M | $122.5M | $0 | $0 | — | View 990 |
| 2013 | $250.9M | $254.8M | $221.6M | $165.9M | — | View 990 |
| 2012 | $255.4M | $256.7M | $230.3M | $185.1M | — | View 990 |
| 2011 | $260.4M | $264.9M | $229.5M | $183.8M | — | View 990 |
Year-by-Year Financial Summary
- 2014: Revenue of $107.3M, expenses of $122.5M, and assets of $0 (revenue -57.2% year-over-year).
- 2013: Revenue of $250.9M, expenses of $254.8M, and assets of $221.6M (revenue -1.8% year-over-year).
- 2012: Revenue of $255.4M, expenses of $256.7M, and assets of $230.3M (revenue -1.9% year-over-year).
- 2011: Revenue of $260.4M, expenses of $264.9M, and assets of $229.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Somerset Medical Center:
Data Sources and Methodology
This transparency report for Somerset Medical Center 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.