Somerset Economic Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2010 | 150,548 | 155,587 | −5,039 | 19.1 | 33% |
| 2011 | 653,409 | 670,371 | −16,962 | 4.2 | 9% |
| 2012 | 389,645 | 334,144 | 55,501 | 8.8 | 18% |
| 2013 | 169,740 | 272,195 | −102,455 | 11.3 | 22% |
| 2014 | 141,353 | 138,049 | 3,304 | 23.5 | 41% |
| 2015 | 97,220 | 94,697 | 2,523 | 36.2 | 63% |
| 2016 | 69,538 | 97,567 | −28,029 | 31.8 | 58% |
| 2017 | 331,849 | 97,281 | 234,568 | 60.8 | 65% |
| 2018 | 247,105 | 173,182 | 73,923 | 29.4 | 65% |
| 2019 | 230,458 | 206,114 | 24,344 | 24.9 | 67% |
| 2020 | 172,433 | 164,877 | 7,556 | 31.7 | 57% |
| 2021 | 271,933 | 165,952 | 105,981 | 39.2 | 49% |
| 2022 | 1,217,524 | 130,299 | 1,087,225 | 150.0 | 78% |
| 2023 | 551,464 | 556,851 | −5,387 | 35.0 | 18% |
In its most recent public year (2023), this organization spent $5,387 more than it brought in. Its reserves stood at about 35 months of spending, up from 19.1 in 2010. Staff pay was 18% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
A new entry when its next filing is released. No account, no email; works in any feed reader, Slack, or automation tool. How following works