Civic Intelligence

Somo Project

990 • Fiscal year 2023 • EIN 46-4140758

Jan 01, 2023 to Dec 31, 2023 • Filed on May 08, 2024

Organization Profilewww.somoafrica.org
543 West 122nd StNew York, NY 10027

(914) 426-2055

Siviq Scores

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

Liabilities / Assets

28th percentile

0.00x

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

2023 filings • NTEE Q • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

0.00x

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

2023 filings • NTEE Q • $1M-$5M nonprofits • Source year 2023

Net Margin

59th percentile

9.2%

Higher net margin than 59% of similar nonprofits.

2023 filings • NTEE Q • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • NTEE Q • $1M-$5M nonprofits • Source year 2023

Asset Growth

65th percentile

17%

Faster asset growth than 65% of similar nonprofits.

2023 filings • NTEE Q • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

44th percentile

2.2%

Faster revenue growth than 44% of similar nonprofits.

2023 filings • NTEE Q • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$996,852

Up $142,244 (+17%) from 2022

Net Assets

Up

$996,852

Up $188,244 (+23%) from 2022

Liabilities

Down

$0

Down $46,000 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin59th percentile

Revenue

Up

$1,062,840

Up $22,506 (+2.2%) from 2022

Expenses

Up

$965,120

Up $214,011 (+28%) from 2022

Net Income

Down

$97,720

Down $191,505 (-66%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth65th 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

2023

Assets$996,852
Liabilities$0
Net Assets$996,852
Open 2023 Filing

Operations Trend

Revenue Growth44th 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

2023

Revenue$1,062,840
Expenses$965,120
Net Income$97,720
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 8, 2024
Return Version
2023v5.0
Gross Receipts
$1,062,840
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$808,608$996,852▲ $188,244
Cash and Non-Interest-Bearing Accounts$699,480$840,101▲ $140,621
Land, Buildings, and Equipment, Net$155,128$156,751▲ $1,623
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$854,608$996,852▲ $142,244
Liabilities
Unsecured Notes Loans Payable$46,000--
Total Liabilities$46,000$0▼ $46,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$808,608$996,852▲ $188,244
Total Liabilities and Net Assets / Fund Balance$854,608$996,852▲ $142,244

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$108,392$11,062$119,454
Equipment$48,359$54,328$102,687
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Edel WereBoard Chair
Charles WarriaBoard Member
Eskor JohnBoard Member
Fiona KirubiBoard Member
Kagure WamunyuBoard Member
Amelia Hopkins PhillipsCEO
Brittany RydenSecretary
Tom PhillipsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,052,940
Program Service Revenue
$0
Investment Income
$9,900
Other Revenue
$0
All Other Contributions
$1,052,940
Change in Net Assets
$97,720
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$902,225
Professional Fundraising Fees$62,895
Total Fundraising Expense$62,895
Grants and Similar Amounts Paid$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Professional Fundraising--$62,895$62,895
Other Expenses$0$33,345$0$33,345
Depreciation Depletion$10,433$4,471-$14,904
Advertising$4,893--$4,893
Fees for Services Accounting-$3,585-$3,585
Travel$2,866--$2,866
Office Expenses-$2,421-$2,421
All Other Expenses-$621-$621
Total Functional Expenses$857,782$44,443$62,895$965,120
International Activity

International Summary

Offices
1
Employees
20
Spending
$839,590

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$839,590
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$62,895
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. Tom phillips is the father of amelia hopkins 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

“Governing documents are made available to the public upon request. The form 990 is made available to the public via irs.gov and guidestar.org.”

Filing and Contact Details

Filer

Filer Name
The Somo Project
EIN
46-4140758
Phone
9144262055
Address
543 WEST 122ND ST, NEW YORK, NY 10027

Signing Officer

Name
Amelia Hopkins Phillips
Title
CEO
Phone
9144262055
Signed
2024-05-08
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
7

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 451 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/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0657172
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0543027
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0125319
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03418792
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt09900
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt09900
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0235
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.55788
IRS990ScheduleA/PublicSupportPY170Pct00.74473
IRS990ScheduleA/PublicSupportTotal170Amt01912814
IRS990ScheduleA/SubstantialContributorsTotAmt01505978
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01052940
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01040334
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0657172
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0543027
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0125319
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03418792
IRS990ScheduleA/TotalSupportAmt03428692
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/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt048359
IRS990ScheduleD/EquipmentGrp/DepreciationAmt054328
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0102687
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0108392
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt011062
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0119454
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0156751
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt020
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0839590
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/TotalSpentAmt0839590
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleG/AgrmtProfFundraisingActyInd01
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0GRANT WRITTING
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd00
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt00
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0-62895
IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine1Txt0SMARTER GOOD INC
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt062895
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt0180 9TH AVENUE
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0SAN FRANCISCO
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCd094118
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/LicensedStatesCd0CA
IRS990ScheduleG/PhoneSolicitationsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990ScheduleG/TotalGrossReceiptsAmt00
IRS990ScheduleG/TotalNetToOrganizationAmt0-62895
IRS990ScheduleG/TotalRetainedByContractorsAmt062895
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWO BOARD MEMBERS HAVE A FAMILIAL RELATIONSHIP. TOM PHILLIPS IS THE FATHER OF AMELIA HOPKINS PHILLIPS.
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. THE FORM 990 IS MADE AVAILABLE TO THE PUBLIC VIA IRS.GOV AND GUIDESTAR.ORG.
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
IRS990/TotalAssetsBOYAmt0854608
IRS990/TotalAssetsEOYAmt0996852
IRS990/TotalAssetsGrp/BOYAmt0854608
IRS990/TotalAssetsGrp/EOYAmt0996852
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01052940
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt062895
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt044443
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0857782
IRS990/TotalFunctionalExpensesGrp/TotalAmt0965120
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt046000
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt046000
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0808608
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0996852
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0857782
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt09900
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01062840
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0854608
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0996852

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$996,852
Liabilities
$0
Net assets
$996,852
Revenue
$1,062,840
Expenses
$965,120
Net income
$97,720
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