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Nonprofit · EIN 45-3081613

SOMERSET FOUNDATION INC

Tax-exempt (reinstated) · SOMERSET, KY 42503

Financials

$1.1M$377K2023$547K$577K2024
Revenue Expenses · by fiscal year end
Financials of SOMERSET FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990-PF$547,111$577,145-$30,034$1,021,585$183,387$838,198
December 31, 2023990-PF$1,063,355$377,216$686,139$1,064,288$196,056$868,232
Financial details: 990-PF for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$540,111
Other income
$7,000

Expenses

Grants and similar amounts paid
$286,489
Disbursements for charitable purposes
$512,197

Balance sheet and other

Total assets, start of year
$1,064,288
Total assets, end of year
$1,021,585
Total liabilities, end of year
$183,387
Net assets, end of year
$838,198
Fair market value of assets
$82,209
Qualifying distributions
$512,197

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
ELSA BROWN
675 OLD GIBSON ROAD, EUBANK, KY 42567
PRESIDENT15$0
VICTOR CATALINO
4262 W HWY 80, SOMRESET, KY 42501
VICE PRESIDE5$0
RODRIGO CALDERON
3581 FOREST COVE LN, LEXINGTON, KY 40515
TREASURER5$0
CHRISTINA BROWN
675 OLD GIBSON RD, EUBANK, KY 42567
SECRETARY8$0
990-PF for the year ended December 31, 2023: 4 people
NameTitleHours / weekCompensation
ELSA BROWN
675 OLD GIBSON ROAD, EUBANK, KY 42567
PRESIDENT15$0
VICTOR CATALINO
4262 W HWY 80, SOMRESET, KY 42501
VICE PRESIDE5$0
RODRIGO CALDERON
3581 FOREST COVE LN, LEXINGTON, KY 40515
TREASURER5$0
CHRISTINA BROWN
675 OLD GIBSON RD, EUBANK, KY 42567
SECRETARY8$0

Address and contacts

Address (IRS master file)
100 VALLEY OAK DR, SOMERSET, KY 42503-5564
In care of
% ELSA J BROWN
Signed the 990-PF
ELSA BROWN, PRESIDENT
Phone
(606) 271-2354
Return prepared by
MARK CLARK CPA PSC

What it must file and when

IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-PF on file

IRS record

EIN
45-3081613
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Private non-operating foundation
Donations deductible (Pub 78)
Private foundation, 30% limit
Exempt since
2014
Accounting year ends
December
Files
Form 990-PF
Category (NTEE)
Human services (P40)
Assets (IRS master file)
$1,021,585
Income (IRS master file)
$547,111

Revocation and reinstatement

Exemption revoked
May 15, 2014
Posted by the IRS
August 11, 2014
Reinstated
Effective May 15, 2014

From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2024$547,111$577,145$1,021,585IRS
990-PFDecember 2023$1,063,355$377,216$1,064,288XML
990-PFDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-PFDecember 2020–––IRS
990-PFDecember 2019–––IRS
990-PFDecember 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-3081613).

Questions about SOMERSET FOUNDATION INC

What is the EIN of SOMERSET FOUNDATION INC?
The employer identification number (EIN) of SOMERSET FOUNDATION INC is 45-3081613.
Is SOMERSET FOUNDATION INC tax-exempt?
Yes. The IRS revoked its exemption on May 15, 2014 and reinstated it effective May 15, 2014.
Are donations to SOMERSET FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does SOMERSET FOUNDATION INC file?
Form 990-PF. Private foundations file every year.
When is the next return of SOMERSET FOUNDATION INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SOMERSET FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990-PF for the year ended December 2024.
Who are the officers and directors of SOMERSET FOUNDATION INC?
The 990-PF for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
How much revenue does SOMERSET FOUNDATION INC have?
On its 990-PF for the year ended December 31, 2024 it reported revenue of $547,111, expenses of $577,145 and total assets of $1,021,585 at year end.

Other nonprofits in SOMERSET

All nonprofits in SOMERSET · Kentucky · Human services