SOMALI EDUCATION AND RESOURCE CENT… - Form 990 Financial Data

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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

2012

Legal Domicile

Principal Officer

IDRIS HASSAN

Tax Period

2022-01-01 to 2022-12-31

SOMALI EDUCATION AND RESOURCE CENTER, founded in 2012, is a community nonprofit in the Human Services sector that reported $6.6M in total revenue in fiscal year 2022. Revenue fell 53% from the prior year — a significant decline worth monitoring.

Mission

PROVIDE TOOLS AND LITERACY BY EXPANDING THE KNOWLEDGE OF IMMIGRANTS AND REFUGEES BY TEACHING THEM FINANCIAL, SOCIAL AND CULTURAL SKILLS

Program Service Accomplishments

Program 1

Expenses: $5,393,219 Revenue: $6,119,456

PROVIDED MORE THAN 8 MILLION NUTRITIOUS FREE MEALS IN LOW INCOME FAMILIES IN GREATER COLUMBUS, OHIO.

Program 2

Expenses: $244,926

ORGANIZATION SUCCESSFULLY COMPLETED SEVEN MAJOR YEAR LONG SPORTS TOURNAMENTS

Program 3

Expenses: $255,074 Revenue: $500,000

ASSISTED MORE THAN LOW INCOME AT RISK STUDENTS FOR AFTER SCHOOL TUTORIAL PROGRAMS AND ACTIVITIES

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $520,000

Program Service Revenue $6,119,456

Investment Income $0

Other Revenue $0

TOTAL REVENUE $6,639,456

Expense Breakdown

Grants Paid $0

Salaries & Benefits $723,666

Fundraising Expenses $0

Program Expenses $5,893,219

Other Expenses $5,743,432

TOTAL EXPENSES $6,467,098

Year-over-Year Comparison

	2022	2021	Change
Revenue	$6,639,456	$14,273,408	-0.5%
Expenses	$6,467,098	$1,347,700	+3.8%
Net Income	$172,358	$12,925,708	-1.0%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HASSAN IDRIS	President	5.000	Officer Director	$0	$0	$0
ABDIRAHMAN MOHAMED	Treasurer	5.000	Officer Director	$0	$0	$0
ABDIRAZAK ALI	Secretary	5.000	Officer Director	$0	$0	$0
AYAN ALI	Member	5.000	Director	$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	No data	No data	No data	No data
2022	$6,639,456	$6,467,098	$2,326,577	$172,358
2021	$14,273,408	$1,347,700	$1,374,115	$12,925,708
2020	$4,232,617	$3,750,102	$1,078,448	$482,515
2019	$1,785,143	$1,801,331	$721,332	$-16,188

SOMALI EDUCATION AND RESOURCE CENTER