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Somerset Inc

EIN 25-1721501 · Somerset, PA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong93 out of 100GovernanceGood74 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE MISSION OF THE ORGANIZATION IS INSTITUTING A PROGRAM OF ACTIVITIES, WHICH WILL PROVIDE TECHNICAL ASSISTANCE FOR THE IMPROVEMENT AND REVITALIZATION OF THE UPTOWN SOMERSET BUSINESS DISTRICT.

Income
$633,368
Spending
$473,259
Spent on programs
86%
Reserves
8.6 months of spending
Largest source of income
government grants, 40%
Employees
5
Volunteers
200

Source: Form 990 for the year ending July 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 93 out of 100. Higher than 78% of charities in its peer group (community improvement, $250k to $1m).

  • Reserves

    28 of 35

    Spendable reserves would cover 8.6 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 25% of income.

  • Income trend

    15 of 15

    Income rose 9% on the year before.

  • Spending floor

    15 of 15

    86% of spending went to programs and raising each dollar of donations cost 8 cents.

Source: Form 990 for the year ending July 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 74 out of 100. Higher than 46% of charities in its peer group (community improvement, $250k to $1m).

  • Independent board

    25 of 25

    12 of 12 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending July 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $405,967 spent. 1.ECONOMIC DEVELOPMENT: IN 2024-2025 WE SPENT 340K ON ECONOMIC DEVELOPMENT PROJECTS INCLUDING THE RENOVATION OF A HISTORIC ANCHOR BUILDING, SMALL BUSINESS GRANTS, HOME RENOVATIONS, SUPPORTING LOW INCOME HOUSING, AND A FEASIBILITY STUDY FOR A PATH TO SOMERSET LAKE. THESE EXPENSES ALL FURTHER THE MISSION OF REJUVENATING THE COMMUNITY CENTER IN SOMERSET, PA. 2.PROMOTION: IN 2024-2025, SOMERSET, INC. HOSTED DIFFERENT EVENTS, INCLUDING FIRE & ICE FESTIVAL, IGNITE THE NIGHT, CHALK THE BLOCK, LIGHT UP SOMERSET, AND THE SOCO FARMERS MARKET. THESE ACTIVITIES BROUGHT MORE THAN 15K PEOPLE TO THE SIDEWALKS OF SOMERSET THROUGHOUT THE YEAR, FURTHERING THE MISSION OF CREATING A MORE VIBRANT COMMUNITY CENTER. 3.IN 2024-2025, SOMERSET, INC. CONTINUED TO INVEST IN TRINITY PARK MAINTENANCE TO SUPPORT AN ONGOING COMMUNITY SPACE AND UPKEEP THE APPEARANCE OF THE COMMUNITY, A PRIORITY IN THE REVITALIZATION OF THE TOWN CENTER. 1.ECONOMIC DEVELOPMENT: IN 2024-2025 WE SPENT 340K ON ECONOMIC DEVELOPMENT PROJECTS INCLUDING THE RENOVATION OF A HISTORIC ANCHOR BUILDING, SMALL BUSINESS GRANTS, HOME RENOVATIONS, SUPPORTING LOW INCOME HOUSING, AND A FEASIBILITY STUDY FOR A PATH TO SOMERSET LAKE. THESE EXPENSES ALL FURTHER THE MISSION OF REJUVENATING THE COMMUNITY CENTER IN SOMERSET, PA. 2.PROMOTION: IN 2024-2025, SOMERSET, INC. HOSTED DIFFERENT EVENTS, INCLUDING FIRE & ICE FESTIVAL, IGNITE THE NIGHT, CHALK THE BLOCK, LIGHT UP SOMERSET, AND THE SOCO FARMERS MARKET. THESE ACTIVITIES BROUGHT MORE THAN 15K PEOPLE TO THE SIDEWALKS OF SOMERSET THROUGHOUT THE YEAR, FURTHERING THE MISSION OF CREATING A MORE VIBRANT COMMUNITY CENTER. 3.IN 2024-2025, SOMERSET, INC. CONTINUED TO INVEST IN TRINITY PARK MAINTENANCE TO SUPPORT AN ONGOING COMMUNITY SPACE AND UPKEEP THE APPEARANCE OF THE COMMUNITY, A PRIORITY IN THE REVITALIZATION OF THE TOWN CENTER.

Source: Form 990 for the year ending July 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending July 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 1995.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.