Civic Intelligence

Somo Project

990 • Fiscal year 2022 • EIN 46-4140758

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 11, 2023

Organization Profilewww.somoafrica.org
10th Street Apt 1222San Francisco, CA 94122

(914) 426-2055

Siviq Scores

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

Liabilities / Assets

60th percentile

0.05x

Higher debt load relative to assets than 60% of similar nonprofits.

2022 filings • NTEE Q • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.04x

Higher debt load relative to revenue than 58% of similar nonprofits.

2022 filings • NTEE Q • $1M-$5M nonprofits • Source year 2022

Net Margin

79th percentile

28%

Higher net margin than 79% of similar nonprofits.

2022 filings • NTEE Q • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE Q • $1M-$5M nonprofits • Source year 2022

Asset Growth

78th percentile

38%

Faster asset growth than 78% of similar nonprofits.

2022 filings • NTEE Q • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

83rd percentile

58%

Faster revenue growth than 83% of similar nonprofits.

2022 filings • NTEE Q • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$854,608

Up $233,704 (+38%) from 2021

Net Assets

Up

$808,608

Up $187,704 (+30%) from 2021

Liabilities

Up

$46,000

Up $46,000 from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin79th percentile

Revenue

Up

$1,040,334

Up $383,162 (+58%) from 2021

Expenses

Up

$751,109

Up $108,139 (+17%) from 2021

Net Income

Up

$289,225

Up $275,023 (+1937%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth78th 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

2022

Assets$854,608
Liabilities$46,000
Net Assets$808,608
Open 2022 Filing

Operations Trend

Revenue Growth83rd 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

2022

Revenue$1,040,334
Expenses$751,109
Net Income$289,225
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 11, 2023
Return Version
2022v5.0
Gross Receipts
$1,040,334
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$620,904$808,608▲ $187,704
Cash and Non-Interest-Bearing Accounts$98,630$699,480▲ $600,850
Land, Buildings, and Equipment, Net$522,274$155,128▼ $367,146
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$620,904$854,608▲ $233,704
Liabilities
Unsecured Notes Loans Payable-$46,000-
Total Liabilities$0$46,000▲ $46,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$620,904$808,608▲ $187,704
Total Liabilities and Net Assets / Fund Balance$620,904$854,608▲ $233,704

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$103,566$7,404$110,970
Equipment$51,562$41,488$93,050
Other Land Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Tom PhillipsBoard Chair
Edward MungaiBoard Member
Eskor JohnBoard Member
Fiona KirubiBoard Member
Kagure WamunyuBoard Member
Amelia Hopkins PhillipsExecutive Director
Edel WereSecretary
Brittany RydenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,040,334
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,040,334
Change in Net Assets
$289,225
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$751,109
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$187,608$70,053$0$257,661
Depreciation Depletion$13,346$5,720-$19,066
Information Technology$6,572$2,817-$9,389
Office Expenses-$7,152-$7,152
Advertising$3,634$1,558-$5,192
Total Functional Expenses$663,809$87,300$0$751,109
International Activity

International Summary

Offices
1
Employees
20
Spending
$452,649

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 Services120$452,649
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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

“Two board members have a familial relationship.”

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

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Somo Project
EIN
46-4140758
Phone
9144262055
Address
10TH STREET APT 1222, SAN FRANCISCO, CA 94122

Signing Officer

Name
Amelia Hopkins Phillips
Title
Executive Director
Phone
9144262055
Signed
2023-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lilian Wanjiku
Formed
2014
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Easy Office Dba Jitasa
Address
1120 S RACKHAM WAY SUITE 300, MERIDIAN, ID 83642
Preparer
Jeremy Cork
Phone
2082874777
Raw XML AppendixShowing 400 of 421 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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0657172
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0543027
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0125319
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0103403
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02469255
IRS990ScheduleA/TotalSupportAmt02469255
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0103566
IRS990ScheduleD/BuildingsGrp/DepreciationAmt07404
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0110970
IRS990ScheduleD/EquipmentGrp/BookValueAmt051562
IRS990ScheduleD/EquipmentGrp/DepreciationAmt041488
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt093050
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0155128
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt020
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0452649
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Sub-Saharan Africa
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0PROVIDE TRAINING/MENTORING SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Program Services
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd01
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/FormAndLineReferenceDesc0Schedule F, Part I, Line 2
IRS990ScheduleF/TotalEmployeeCnt020
IRS990ScheduleF/TotalOfficeCnt01
IRS990ScheduleF/TotalSpentAmt0452649
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWO BOARD MEMBERS HAVE A FAMILIAL RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN PREPARER EMAILS A COPY OF THE FINAL VERSION OF FORM 990 TO EACH BOARD MEMBER BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PERIODICAL WRITTEN DOCUMENTS AND REVIEWS ON DISCLOSURE FOR COMPLIANCE WITH CONFLICTS OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0620904
IRS990/TotalAssetsGrp/EOYAmt0854608
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IRS990/TotalContributionsAmt01040334
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt087300
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0663809
IRS990/TotalFunctionalExpensesGrp/TotalAmt0751109
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt046000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt046000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0620904
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0808608
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalProgramServiceExpensesAmt0663809
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01040334
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0620904
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0854608
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt046000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt010TH STREET APT 1222
IRS990/USAddress/CityNm0SAN FRANCISCO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd094122
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.somoafrica.org
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/LastSubmissionRqrOOBCd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd01
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0AMELIA HOPKINS PHILLIPS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09144262055
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE SOMO PROJECT
ReturnHeader/Filer/BusinessNameControlTxt0SOMO

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$854,608
Liabilities
$46,000
Net assets
$808,608
Revenue
$1,040,334
Expenses
$751,109
Net income
$289,225
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