Somerset County Foundation For Higher Education
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 684,786 | 356,274 | 328,512 | 72.2 | 0% |
| 2012 | 622,181 | 336,836 | 285,345 | 95.6 | 0% |
| 2013 | 3,715,167 | 1,469,333 | 2,245,834 | 41.3 | 0% |
| 2014 | 1,681,138 | 1,990,209 | −309,071 | 28.7 | 0% |
| 2015 | 1,726,120 | 1,365,284 | 360,836 | 10.0 | 0% |
| 2016 | 48,138 | 112,779 | −64,641 | 114.9 | 0% |
| 2017 | 79,381 | 104,867 | −25,486 | 97.9 | 13% |
| 2018 | 350,371 | 116,591 | 233,780 | 110.9 | 33% |
| 2019 | 162,242 | 111,021 | 51,221 | 125.0 | 44% |
| 2020 | 118,424 | 114,015 | 4,409 | 122.9 | 26% |
| 2021 | 145,744 | 135,652 | 10,092 | 105.8 | 22% |
| 2022 | 397,702 | 359,476 | 38,226 | 39.9 | 12% |
| 2023 | 713,175 | 683,033 | 30,142 | 21.8 | 10% |
In its most recent public year (2023), this organization brought in $30,142 more than it spent. Its reserves stood at about 21.8 months of spending, down from 72.2 in 2011. Staff pay was 10% of spending. $1,072,618 of its net assets are donor-restricted.
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
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