Somerset Academy Foundation Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2014 | 238 | 493 | −255 | -6.2 | — |
| 2015 | 0 | 0 | 0 | — | — |
| 2016 | 5,000 | 2,407 | 2,593 | 11.7 | — |
| 2017 | 399,446 | 372,328 | 27,118 | 0.9 | 0% |
| 2018 | 466,933 | 187,181 | 279,752 | 19.8 | 0% |
| 2019 | 1,111,991 | 1,262,386 | −150,395 | 1.5 | 0% |
| 2020 | 1,389,607 | 1,029,068 | 360,539 | 6.1 | 0% |
| 2021 | 1,359,200 | 1,016,808 | 342,392 | 10.2 | 0% |
| 2022 | 1,771,098 | 1,454,136 | 316,962 | 9.5 | 0% |
| 2023 | 3,493,383 | 1,809,414 | 1,683,969 | 18.8 | 0% |
In its most recent public year (2023), this organization brought in $1,683,969 more than it spent. Its reserves stood at about 18.8 months of spending, up from -6.2 in 2014. Staff pay was 0% 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
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