Civic Intelligence

Somo Project

990 • Fiscal year 2019 • EIN 46-4140758

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 15, 2020

Organization Profilewww.somoafrica.org
92 Morningside Ave Apt 7ENew York, NY 10027

(914) 548-9819

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • NTEE Q33 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

71st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • NTEE Q33 • <$500k nonprofits • Source year 2019

Net Margin

70th percentile

19%

Higher net margin than 70% of similar nonprofits.

2019 filings • NTEE Q33 • <$500k nonprofits • Source year 2019

Top Officer Pay

88th percentile

$6,000

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2019 filings • NTEE Q33 • <$500k nonprofits • Source year 2019

Asset Growth

74th percentile

49%

Faster asset growth than 74% of similar nonprofits.

2019 filings • NTEE Q33 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

85th percentile

68%

Faster revenue growth than 85% of similar nonprofits.

2019 filings • NTEE Q33 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$165,557

Up $54,814 (+49%) from 2018

Net Assets

Up

$165,557

Up $54,814 (+49%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin70th percentile

Revenue

Up

$294,314

Up $119,084 (+68%) from 2018

Expenses

Up

$239,500

Up $88,417 (+59%) from 2018

Net Income

Up

$54,814

Up $30,667 (+127%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2017: $33,129Liabilities 2017: $0Net Assets 2017: $33,1292017Assets 2018: $110,743Liabilities 2018: $0Net Assets 2018: $110,7432018Assets 2019: $165,557Liabilities 2019: $0Net Assets 2019: $165,5572019Assets 2020: $393,745Liabilities 2020: $0Net Assets 2020: $393,7452020Assets 2021: $620,904Liabilities 2021: $0Net Assets 2021: $620,9042021Assets 2022: $854,608Liabilities 2022: $46,000Net Assets 2022: $808,6082022Assets 2023: $996,852Liabilities 2023: $0Net Assets 2023: $996,8522023Assets 2024: $1,421,353Liabilities 2024: $78,801Net Assets 2024: $1,342,5522024

Highlighted filing

2019

Assets$165,557
Liabilities$0
Net Assets$165,557
Open 2019 Filing

Operations Trend

Revenue Growth85th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0Revenue 2017: $92,938Expenses 2017: $71,220Net Income 2017: $21,7182017Revenue 2018: $175,230Expenses 2018: $151,083Net Income 2018: $24,1472018Revenue 2019: $294,314Expenses 2019: $239,500Net Income 2019: $54,8142019Revenue 2020: $543,027Expenses 2020: $339,201Net Income 2020: $203,8262020Revenue 2021: $657,172Expenses 2021: $642,970Net Income 2021: $14,2022021Revenue 2022: $1,040,334Expenses 2022: $751,109Net Income 2022: $289,2252022Revenue 2023: $1,062,840Expenses 2023: $965,120Net Income 2023: $97,7202023Revenue 2024: $1,069,620Expenses 2024: $901,579Net Income 2024: $168,0412024

Highlighted filing

2019

Revenue$294,314
Expenses$239,500
Net Income$54,814
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 15, 2020
Return Version
2019v5.0
Gross Receipts
$294,314
Mission and Program Overview

Mission

Somos mission is to partner with entrepreneurs from low-income communities to build self-sustaining, high-impact businesses, providing them with the training, mentorship, capital and market access they need to succeed.

Registered 501(c)(3) that provides training, mentorship, and capital to entrepreneurs building businesses out of low income urban

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$110,743$165,557▲ $54,814
Cash and Non-Interest-Bearing Accounts$80,430$118,630▲ $38,200
Land, Buildings, and Equipment, Net$17,543$31,901▲ $14,358
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$110,743$165,557▲ $54,814
Other Assets Total$12,770$15,026▲ $2,256
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0--
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$110,743$165,557▲ $54,814
Total Liabilities and Net Assets / Fund Balance$110,743$165,557▲ $54,814

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$26,053$0$26,053
Buildings$5,848$0$5,848
Land$0-$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Other Assets Org$15,026--
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Amelia PhillipsExecutive DirectorFT$6,000$6,000

Board Members and Trustees

NameTitle
George RzepeckiBoard Chair
Brittany RydenMember
Eskor JonMember
Kagure WamunyuMember
Sebastian PetersMember
Thomas PhillipsSecretary
Edel WereTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$291,500
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$2,814
All Other Contributions
$0
Change in Net Assets
$54,814
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$100,060
Grants and Similar Amounts Paid$80,123
Other Expenses$50,085
Professional Fundraising Fees$3,178
Total Fundraising Expense$3,178

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$80,123--$80,123
Other Salaries and Wages-$49,066-$49,066
Other Employee Benefits-$44,994-$44,994
Office Expenses-$14,976-$14,976
Conferences and Meetings-$14,845-$14,845
Occupancy-$7,947-$7,947
Benefits to Members$6,054--$6,054
Current Officers, Directors, Trustees, and Key Employees-$6,000-$6,000
Fees for Services Management-$5,803-$5,803
Advertising-$4,575-$4,575
Fees for Services Professional Fundraising--$3,178$3,178
Fees for Services Legal-$1,013-$1,013
Fees for Services Accounting-$767-$767
Travel-$159-$159
Total Functional Expenses$86,177$150,145$3,178$239,500
International Activity

International Summary

Offices
2
Employees
20
Spending
$80,123

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-Saharan AfricaProgram ServicesProvide training/mentoring/capital120$46,669
North America (including Canada and Mexico, but not the United States)Program ServicesProvide training/mentoring/capital10$33,454
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$3,178
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“CFO (Thomas Phillips) has a family relationship with executive director (Amelia Phillips).”

Form 990, Part VI, Section B, Line 11B

“The return preparer emails a copy of the final version of Form 990 to each Board member before it was filed.”

Form 990, Part VI, Section B, Line 12C

“Periodical written documents and reviews on disclosure for compliance with conflicts of interest policy.”

Form 990, Part VI, Section C, Line 19

“Makes its governing documents, conflict of interest policy, and statements available to the public during the year upon request.”

Filing and Contact Details

Filer

Filer Name
Somo Project
EIN
46-4140758
Phone
9145489819
Address
92 MORNINGSIDE AVE APT 7E, NEW YORK, NY 10027

Signing Officer

Name
Amelia Phillips
Title
Executive Director
Phone
9145489819
Signed
2020-07-15

Organization Details

Principal Officer
Amelia Hopkins Phillips
Formed
2014
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
5
Employees
0
Volunteers
8
Supplemental Narrative

Additional Explanations

Form 990, Header, Line B

“Amended the previous rejected form as it filled in a wrong form 990EZ”

Raw XML AppendixShowing 400 of 500 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Amelia Hopkins Phillips
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0Advisory program: 80 portfolio business mentored
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt026024
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0Entrepreneurship training: 70 entrepreneurs trained
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt014540
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Benefit paid to or for members
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt06054
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt00
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt014709
IRS990/PYContributionsGrantsAmt0163146
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt062057
IRS990/PYInvestmentIncomeAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt00
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt013309
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt012084
IRS990/PYRevenuesLessExpensesAmt024147
IRS990/PYSalariesCompEmpBnftPaidAmt041008
IRS990/PYTotalExpensesAmt0151083
IRS990/PYTotalProfFndrsngExpnsAmt020000
IRS990/PYTotalRevenueAmt0175230
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt054814
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RoyaltiesGrp/ManagementAndGeneralAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0110743
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0165557
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0125319
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0103403
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt092938
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt047147
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt036385
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0405192
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01
IRS990ScheduleA/PublicSupportPY170Pct01
IRS990ScheduleA/PublicSupportTotal170Amt0405192
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0125319
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0103403
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt092938
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt047147
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt036385
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0405192
IRS990ScheduleA/TotalSupportAmt0405192
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05848
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05848
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt015026
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Furniture in Hub spaces, 47Computers, 2projectors, 2printers, 1camera, 4phones & 1fridge
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt026053
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt026053
IRS990ScheduleD/TotalBookValueLandBuildingsAmt031901
IRS990ScheduleD/TotalBookValueOtherAssetsAmt015026
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt020
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt11
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt046669
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt133454
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Sub-Saharan Africa
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1North America (including Canada and Mexico, but not the United States)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0Provide training/mentoring/capital
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1Provide training/mentoring/capital
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Program Services
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1Program Services
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd01
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0260525
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt130975
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt10
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt10
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0Run program
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1Run program
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0Sub-Saharan Africa
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1North America (including Canada and Mexico, but not the United States)
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/ValuationMethodUsedDesc0FMV
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/ValuationMethodUsedDesc1FMV
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0Somo has well-prepared documentation (i.e. operating reports and budgets) to track and monitor how the grants are allocated and used
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1Cash accounting
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt2Cash accounting
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule F, Part I, Line 2

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$165,557
Liabilities
$0
Net assets
$165,557
Revenue
$294,314
Expenses
$239,500
Net income
$54,814
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.42$0.08$1.34$1.07$0.90$0.17
2023Detailed filing. Detailed filing data is available for this year.$1.00$0.00$1.00$1.06$0.97$0.10
2022Detailed filing. Detailed filing data is available for this year.$0.85$0.05$0.81$1.04$0.75$0.29
2021Detailed filing. Detailed filing data is available for this year.$0.62$0.00$0.62$0.66$0.64$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.39$0.00$0.39$0.54$0.34$0.20
2019Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.29$0.24$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.18$0.15$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.09$0.07$0.02