somerset foundation inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ATLANTA, GA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.5M in total assets. In 2024, it awarded 28 grants totaling $195K. Net investment income was $1.1M.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.5M
+61.6% YoY
Annual Giving
$195K
+14.7% YoY
Grant Count
28
+86.7% YoY
Avg Grant Size
$7K
-38.6% YoY
Under IRS private-foundation payout rules, somerset foundation inc reported a distributable amount of $242K for 2024 — the minimum it must pay out in qualifying distributions.
About somerset foundation inc
Based on IRS filings
somerset foundation inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ATLANTA, GA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $2.5M in total assets. In 2024, it awarded 28 grants totaling $195K. Net investment income was $1.1M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,459,374 | $1,522,221 | $1,486,176 |
| Revenue | $1,124,008 | $225,329 | $79,248 |
| Expenses | $223,257 | $189,284 | $168,909 |
| Qualifying Distributions | $195,000 | $170,000 | $150,000 |
| Net Investment Income | $1,095,751 | $206,045 | $60,339 |
| Distributable Amount | $241,840 | $175,339 | $163,828 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
88 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include star-c communities ($20,000), Atlanta Youth Academy ($15,000), Ben Franklin Academy ($15,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ATLANTA YOUTH ACADEMY ATLANTA, GA | CHARITABLE CONTRIBUTION | $15,000 |
| BEN FRANKLIN ACADEMY ATLANTA, GA | CHARITABLE CONTRIBUTION | $15,000 |
| THE GOOD SAMARITAN HEALTH CENTER ATLANTA, GA | CHARITABLE CONTRIBUTION | $15,000 |
| CREATE YOUR DREAMS ATLANTA, GA | CHARITABLE CONTRIBUTION | $7,500 |
| connections school atlanta, GA | CHARITABLE CONTRIBUTION | $5,000 |
| HEARTBOUND MINISTRIES ATLANTA, GA | CHARITABLE CONTRIBUTION | $10,000 |
| star-c communities atlanta, GA | charitable contribution | $20,000 |
| clifton sanctuary ministries atlanta, GA | charitable contribution | $10,000 |
| aris theatre atlanta, GA | chartiable contribution | $4,000 |
| eagle ranch flowery branch, GA | charitable contribution | $15,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MARY VIRGINIA DAVIS | secretary | — | — |
| frances s davis | ceo | — | — |
| robert bryan davis | cfo | — | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is somerset foundation inc?
somerset foundation inc is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in ATLANTA, GA. It holds $2.5M in total assets as of 2024.
How large is somerset foundation inc?
As of 2024, somerset foundation inc holds $2.5M in total assets with $1.1M in annual revenue. It awarded 28 grants totaling $195K in 2024.
Where does somerset foundation inc operate?
somerset foundation inc has awarded grants in Colorado, Georgia, North Carolina, South Carolina.
What size grants does somerset foundation inc award?
In 2024, somerset foundation inc awarded 28 grants totaling $195K — an average of about $7K per grant, based on its IRS Form 990 filings.
How much is somerset foundation inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, somerset foundation inc reported a distributable amount of $242K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is somerset foundation inc's EIN?
somerset foundation inc's EIN (Employer Identification Number) is 58-2360568. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in somerset foundation inc's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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