Somerset Lane Inc

EIN: 311048542 501(c)(3)

Columbus, OH

Total Revenue
$244,670
Total Expenses
$415,007
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
OH
Principal Officer
William Moorhead
Phone
6148184640
Tax Period
2023-01-01 to 2023-12-31

Somerset Lane Inc, founded in 1985, is a small nonprofit that reported $245K in total revenue in fiscal year 2023. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $415K exceeded revenue, resulting in a 70% operating deficit.

Mission

The nonprofit organization owned real estate in the form of an apartment complex for the elderly & handicapped under Section 202

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $244,228
Investment Income $442
Other Revenue $0
TOTAL REVENUE $244,670

Expense Breakdown

Grants Paid $0
Salaries & Benefits $60,552
Fundraising Expenses $0
Program Expenses $358,742
Other Expenses $354,455
TOTAL EXPENSES $415,007

Year-over-Year Comparison

2023 2022 Change
Revenue $244,670 $413,348 -0.4%
Expenses $415,007 $485,590 -0.1%
Net Income $-170,337 $-72,242 +1.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
1
Independent Members
1
Employees
2
Volunteers
1

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
William Moorhead President 1.00
Officer
$0 $0 $0
Melissa Steel Secretary 1.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 $244,670 $415,007 No data $-170,337
2022 $413,348 $485,590 $730,873 $-72,242
2021 $420,309 $408,401 $777,796 $11,908
2020 $414,021 $427,378 $812,202 $-13,357
2019 $400,374 $404,143 $838,633 $-3,769
2018 $398,895 $464,201 $878,621 $-65,306
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