Somo Project
Public records show a registered, tax-exempt organization in good standing.
What it says it does
THE SOMO PROJECT PROVIDES TRAINING, MENTORSHIP AND CAPITAL TO IMPACT ENTREPRENEURS BUILDING BUSINESSES OUT OF LOW-INCOME URBAN AREAS.
- Income
- $1.2 million
- Spending
- $1.3 million
- Spent on programs
- 88%
- Reserves
- 10 months of spending
- Largest source of income
- donations and private grants, 89%
- Employees
- 0
- Volunteers
- 7
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 82 out of 100. Higher than 60% of charities in its peer group (international, $1m to $10m).
Reserves
28 of 35Spendable reserves would cover 10.0 months of spending.
Debt
16 of 20It owes 28% of what it owns.
Living within its means
8 of 15Spending exceeded income by 1% of income.
Income trend
15 of 15Income rose 16% on the year before.
Spending floor
15 of 1588% of spending went to programs and raising each dollar of donations cost 5 cents.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 84 out of 100. Higher than 37% of charities in its peer group (international, $1m to $10m).
Independent board
25 of 257 of 7 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
0 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 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)
- $1.1 million spent. BUSINESS DEVELOPMENT SERVICES - DIGISOMO: SELF-PACED LEARNING MANAGEMENT SYSTEM - TRAINING FOR ENTREPRENEURS IN MARGINALIZED COMMUNITIES: THROUGH SOMO ACADEMY, OUR TRAINING PROGRAM, SOMO FOCUSES ON ENTREPRENEURS FROM LOW-INCOME BACKGROUNDS (INCLUDING REFUGEE CAMPS) BUILDING BUSINESSES WITH THE POTENTIAL FOR JOB CREATION. SOMO HAS ALREADY DEVELOPED CONTENT SPECIALLY FOCUSED ON SPECIFIC BUSINESSES, FOR EXAMPLE, GREEN AND SOCIAL BUSINESSES IMPLEMENTED AS PART OF THIS PROGRAM. THE TRAINING IS TAILORED TO THE NEEDS OF EACH ENTREPRENEUR AND DRIVEN BY THE MARKET RESEARCH THEY CONDUCT WITH OUR ASSISTANCE, STARTING WITH PROBLEM-SOLVING AND IDEATION, ENCOMPASSING MARKET RESEARCH, BUSINESS PLANNING, FINANCIAL MODELING AND DIGITAL LITERACY, AND FINISHING WITH CAPITALIZING A BUSINESS AND A PRESENTATION TO VOLUNTEER JUDGES BY EACH ENTREPRENEUR. ACCELERATION: SOMO LEADS ON PROGRAMME APPROACH TO BUSINESS ACCELERATION FOR TARGETED ENTREPRENEURS. SOMO'S ACCELERATION PROGRAMME ALLOWS MSMES TO LEVERAGE ON THE ACQUIRED KNOWLEDGE AND SKILLS FROM DIGISOMO AND SOMO ACADEMY, AND ADOPT NEW BUSINESS PRACTICES TO GENERATE MORE REVENUE, HAVE ACCESS TO BETTER FINANCING, CREATE MORE QUALITY JOBS ACROSS THE VALUE CHAIN, AND PROVIDE BETTER PRODUCTS OR SERVICES TO ADDRESS DEMAND IN NEW MARKETS. DURING ACCELERATION, ENTREPRENEURS ARE FURTHER MENTORED, TRAINED, AND RECEIVE ACCESS TO SOMO INVEST. BUSINESS INCUBATION: SELECT ENTREPRENEURS (USUALLY THOSE MANUFACTURING FOOD, BEAUTY AND CRAFT PRODUCTS IN OUR TARGET PRODUCT LINE) HAVE ACCESS TO TENGENEZA FOR AFFORDABLE PRODUCTION, QUALITY CONTROL, BRANDING, MARKETING AND SALES SUPPORT.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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 September 7, 2026.
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 September 30, 2026.
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 September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since September 2014.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
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 October 7, 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.