Overview
What is Somerset Inc?
Somerset Inc is a nonprofit organization situated in Somerset, Pennsylvania, with a primary focus on revitalizing and supporting the local Uptown Business District. This is achieved through the organization's mission to institute a program of activities, offering technical assistance to enhance and revitalize the area. The organization, with a small team of three individuals, aims to draw visitors and tourists into the district, promoting local businesses and contributing funds towards community development projects. By hosting festivals and uptown events, Somerset Inc plays a significant role in fostering community growth and development.
Official website here: www.somersetinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
Somerset Inc has received a solid rating of 88%, indicating a strong emphasis on accountability and finance, which accounted for its overall score. The organization's performance is particularly commendable in aspects such as having 100% independent board members and maintaining a high standard of financial oversight, as evidenced by its audit and oversight committee scoring full points.
The charity demonstrates a robust financial foundation with a program expense ratio of 71.23%, suggesting that a significant portion of its resources is directed towards its mission-related programs. Additionally, there are no reported issues regarding material diversion of assets, which contributes positively to its financial integrity.
However, there are a few areas where Somerset Inc could improve, such as the absence of a whistleblower policy and document retention policies. Addressing these gaps could enhance its governance practices further and strengthen trust among stakeholders. Overall, Somerset Inc appears to be a responsible organization with a commitment to transparency and effective resource management.
This AI summary has been generated from information found on Charity Navigator.
Is Somerset Inc legitimate?
Somerset Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Somerset Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $88,018
For more financial information, click here
Official website here: www.somersetinc.org
What is the mission statement of Somerset Inc?
Somerset Inc's mission is centered around instituting a program of activities aimed at providing technical assistance. This initiative is designed to improve and revitalize a specific business district. The organization's primary goal is to enhance the uptown area, ultimately leading to the betterment of local businesses. To achieve this, Somerset Inc organizes festivals and events within the main street district. These events attract visitors and tourists, thereby generating support for local businesses. The funds raised from these events are utilized for community development projects.
Official website here: www.somersetinc.org
Who is the CEO of Somerset Inc?
Jesper Nielsen is the Member of Somerset Inc.
Official website here: www.somersetinc.org
What is the revenue of Somerset Inc?
Somerset Inc's revenue in 2023 was $514,713.
Official website here: www.somersetinc.org
Who are the executives of Somerset Inc and what are their salaries?
The average compensation at Somerset Inc during 2023 was $29,339. There are 3 employees and 150 volunteers at Somerset Inc.
Here are 12 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.somersetinc.org
Where can I find the form 990 for Somerset Inc?
Somerset Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.somersetinc.org
Learn more at the official website: www.somersetinc.org
Mission Statement of Somerset Inc
Somerset Inc, a nonprofit organization, is committed to instating a program of activities aimed at offering technical assistance to revitalize and enhance the Uptown Somerset Business District. The primary mission of Somerset Inc involves improving this business district, attracting visitors and tourists, and supporting local businesses. This is achieved through organizing festivals and events in the main street district, which not only provides entertainment but also generates funds for community development projects. By engaging with the community and supporting local businesses, Somerset Inc contributes to the overall revitalization and improvement of the Uptown Somerset Business District.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Somerset Inc's impact can be seen through its efforts to revitalize and improve the Uptown Somerset business district. By organizing festivals and events to attract visitors and tourists to Somerset Borough's main street district, Somerset Inc is not only supporting local businesses but also generating funds for community development projects. This initiative helps in enhancing the economic vitality of the area, fostering community engagement, and promoting overall growth and well-being within Somerset.
This information is meant to be a general summary of Somerset Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $219
- Program Service Revenue: $94,923
- Gross Receipts: $514,713
Assets and Liabilities:
- Total Assets: $1,091,786
- Total Liabilities: $0
- Net Assets: $1,091,786
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FIRE&ICE
Revenue
$56,594
PROMOTION EVENTS
Revenue
$31,174
LIGHT UP
Revenue
$7,155
Organization Details
Founding Year
1993
Phone
(814) 443-1748Principal Officer
Jesper Nielsen
Main Address
109 EAST MAIN ST PO BOX 876, SOMERSET, PA, 15501
Website
www.somersetinc.orgNTEE Category
Code: S20Z - Community improvement
If you are a representative of Somerset Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.