Somerset Academy Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 251,355,560 | 249,353,491 | 2,002,069 | 3.7 | 46% |
| 2021 | 293,901,770 | 266,814,660 | 27,087,110 | 4.7 | 44% |
| 2022 | 324,310,430 | 320,728,209 | 3,582,221 | 3.9 | 43% |
| 2023 | 372,140,972 | 355,265,196 | 16,875,776 | 4.1 | 43% |
In its most recent public year (2023), this organization brought in $16,875,776 more than it spent. Its reserves stood at about 4.1 months of spending. Staff pay was 43% of spending. $11,161,748 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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