Civic Intelligence

Spirit of Somerset Inc.

EIN 83-3263950 • 501(c)3 • Somerset, MA

Pub. 78 Eligible990-N Coverage

Profile

Spirit of somerset conducts an annual festival for the town of somerset.

233 Forest AveSomerset, MA 02726

www.spiritofsomerset.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2023

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2023

Net Margin

67th percentile

13%

Higher net margin than 67% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

84th percentile

$7,500

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 13.2% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

64th percentile

6.8%

Faster asset growth than 64% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2020 to 2023

Revenue Growth

81st percentile

40%

Faster revenue growth than 81% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2020 to 2023

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Up

$56,697

Up $10,119 (+22%) from 2020

Liabilities

-

No earlier filing loaded for comparison.

Net Assets

Up

$56,697

Up $10,119 (+22%) from 2020

Operations
Liabilities / RevenueScore unavailableNet Margin67th percentile

Revenue

Up

$56,691

Up $36,141 (+176%) from 2020

Expenses

Up

$49,200

Up $32,944 (+203%) from 2020

Net Income

Up

$7,491

Up $3,197 (+74%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth64th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60K$40K$20K$0Assets 2019: $42,285Net Assets 2019: $42,2852019Assets 2020: $46,578Net Assets 2020: $46,5782020Assets 2023: $56,697Net Assets 2023: $56,6972023

Highlighted filing

2023

Assets$56,697
Liabilities-
Net Assets$56,697
Open 2023 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80K$60K$40K$20K$0Revenue 2019: $63,710Expenses 2019: $42,104Net Income 2019: $21,6062019Revenue 2020: $20,550Expenses 2020: $16,256Net Income 2020: $4,2942020Revenue 2023: $56,691Expenses 2023: $49,200Net Income 2023: $7,4912023

Highlighted filing

2023

Revenue$56,691
Expenses$49,200
Net Income$7,491
Open 2023 Filing

Filings

Most recent year

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

Open filing
Assets
$56,697
Liabilities
-
Net assets
$56,697
Revenue
$56,691
Expenses
$49,200
Net income
$7,491
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$56.7$56.7$56.7$49.2$7.49
2020Detailed filing. Detailed filing data is available for this year.$46.6$46.6$20.6$16.3$4.29
2019Detailed filing. Detailed filing data is available for this year.$42.3$42.3$63.7$42.1$21.6
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 29, 2024
Return Version
2023v5.0
Gross Receipts
$56,691
Mission and Program Overview

Mission

Spirit of somerset conducts an annual festival for the town of somerset.

Program Services

DescriptionGrantsExpenses
THE SPIRIT OF SOMERSET CONDUCTS A FESTIVAL EVERY SUMMER FOR THE RESIDENTS OF SOMERSET AND ENVIRONS. THERE IS ENTERTAINMENT, FOOD, BOAT RIDES AND EDUCATION ABOUT THE TOWN OF SOMERSET PROVIDED.-$35,542
THESE EXPENSES ARE RELATED TO THE SINGULAR EVENT CONDUCTED WHICH IS THE ANNUAL SPIRIT OF SOMERSET FESTIVAL FOR THE TOWN OF SOMERSET.$800$9,971
SUPPORT OF ANCILLARY ACTIVITIES ASSOCIATED WITH ANNUAL FESTIVAL.-$2,951
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
DAVID BERUBEPresidentPT$7,500-$7,500
KIM BERUBETreasurerPT$0--
REBECCA TAVARESClerkPT$0--
JEFFREY FURTADODirector-$0--
ROBERT GANEMDirector-$0--
Filing and Contact Details

Filer

Filer Name
Spirit of Somerset Inc
EIN
83-3263950
Phone
7742019416
Address
233 FOREST AVE, SOMERSET, MA 02726

Signing Officer

Name
David Berube
Title
President
Phone
7742019416
Signed
2024-05-29
Discuss with paid preparer
Yes

Preparer

Firm
Norman Graham & Digangi Pc
Address
452 WILBUR AVE, SWANSEA, MA 02777-2428
Preparer
Dana R Norman
Phone
5086768561
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

“Expenses insurance 899 barge service 6,000 festival cost of sales 6,920 festival activities -even 12,584 miscellaneous expenses 293 ferry service 9,245 refund 500 non-investment depreciation 2,951 total 39,392”

Form 990-ez, Part I, Line 20

“Write up increase in asset basis 0”

Form 990-ez, Part II, Line 24

“Docks 32,025 32,025 less accumulated depreciation 17,268 20,219 total 14,757 11,806”

Form 990-ez, Part III, Line 31

“These expenses are related to the singular event conducted which is the annual spirit of somerset festival for the town of somerset.”

Raw XML Appendix164 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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IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0SOMERSET
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
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IRS990EZ/InfoInScheduleOPartIIIInd0X
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IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingCashInd0X
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2REBECCA TAVARES
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3JEFFREY FURTADO
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4ROBERT GANEM
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0PRESIDENT
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1TREASURER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2CLERK
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4DIRECTOR
IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationHadUBIInd0false
IRS990EZ/OtherAssetsTotalDetail/BOYAmt014757
IRS990EZ/OtherAssetsTotalDetail/EOYAmt011806
IRS990EZ/OtherExpensesTotalAmt039392
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0SPIRIT OF SOMERSET CONDUCTS AN ANNUAL FESTIVAL FOR THE TOWN OF SOMERSET.
IRS990EZ/PrintingPublicationsPostageAmt0772
IRS990EZ/ProgramServiceRevenueAmt033691
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0THE SPIRIT OF SOMERSET CONDUCTS A FESTIVAL EVERY SUMMER FOR THE RESIDENTS OF SOMERSET AND ENVIRONS. THERE IS ENTERTAINMENT, FOOD, BOAT RIDES AND EDUCATION ABOUT THE TOWN OF SOMERSET PROVIDED.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1SUPPORT OF ANCILLARY ACTIVITIES ASSOCIATED WITH ANNUAL FESTIVAL.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt2THESE EXPENSES ARE RELATED TO THE SINGULAR EVENT CONDUCTED WHICH IS THE ANNUAL SPIRIT OF SOMERSET FESTIVAL FOR THE TOWN OF SOMERSET.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt0800
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt035542
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt12951
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt29971
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/SchoolOperatingInd0false
IRS990EZ/StatesWhereCopyOfReturnIsFldCd0MA
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt049200
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IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0WWW.SPIRITOFSOMERSET.COM
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt023000
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt038480
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt020550
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt031100
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IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0242621
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
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPENSES INSURANCE 899 BARGE SERVICE 6,000 FESTIVAL COST OF SALES 6,920 FESTIVAL ACTIVITIES -EVEN 12,584 MISCELLANEOUS EXPENSES 293 FERRY SERVICE 9,245 REFUND 500 NON-INVESTMENT DEPRECIATION 2,951 TOTAL 39,392
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WRITE UP INCREASE IN ASSET BASIS 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCKS 32,025 32,025 LESS ACCUMULATED DEPRECIATION 17,268 20,219 TOTAL 14,757 11,806
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE EXPENSES ARE RELATED TO THE SINGULAR EVENT CONDUCTED WHICH IS THE ANNUAL SPIRIT OF SOMERSET FESTIVAL FOR THE TOWN OF SOMERSET.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 20
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART III, LINE 31
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID BERUBE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07742019416
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SPIRIT OF SOMERSET INC
ReturnHeader/Filer/BusinessNameControlTxt0SPIR
ReturnHeader/Filer/EIN0833263950
ReturnHeader/Filer/PhoneNum07742019416
ReturnHeader/Filer/USAddress/AddressLine1Txt0233 FOREST AVE
ReturnHeader/Filer/USAddress/CityNm0SOMERSET
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002726
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264026486
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NORMAN GRAHAM & DIGANGI PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0452 WILBUR AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SWANSEA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0027772428
ReturnHeader/PreparerPersonGrp/PhoneNum05086768561
ReturnHeader/PreparerPersonGrp/PreparationDt02024-06-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DANA R NORMAN
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-07-09T10:40:09-04:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DAVID
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BERUBE
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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