somerset foundation inc
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.
Key facts about somerset foundation inc
- EIN
- 58-2360568
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $195,000
- Grants made (2024)
- 28
- Average grant
- $6,964
- Median grant
- $4,000
- New grantees (estimate)
- 50% first-time grantees (14 of 28, 2024)
- Total assets
- $2,459,374
- Primary geography
- Georgia (85% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who somerset foundation inc funds
By grant dollars, the top recipient states for somerset foundation inc's 28 itemized 2024 grants were Georgia (85%) and North Carolina (8%). The most frequent recipient cities were Atlanta, GA (14 grants) and Decatur, GA (2 grants). None of its 28 grants with a stated purpose were described as general or operating support. Recurring purposes include "Charitable Contribution" (24 grants).
Is somerset foundation inc open to new grantees?
50%
first-time grantees, 2024
In 2024, 14 of 28 grantees (50%) were first-time recipients. First grants averaged $3K; repeat grants $11K. How we count
Medians: $3K first-time, $10K repeat.
- 50% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+8%). Method
- In 2024 it paid out 81% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with somerset foundation inc
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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
Share of all 28 itemized 2024 grant dollars.
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 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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 recipients include star-c communities ($20,000), Atlanta Youth Academy ($15,000), Ben Franklin Academy ($15,000).
| Recipient | Purpose | Amount |
|---|---|---|
| star-c communities atlanta, GA | charitable contribution | $20,000 |
| 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 |
| eagle ranch flowery branch, GA | charitable contribution | $15,000 |
| child advocate network decatur, GA | chartiable contribution | $15,000 |
| HEARTBOUND MINISTRIES Atlanta, GA | CHARITABLE CONTRIBUTION | $10,000 |
| clifton sanctuary ministries atlanta, GA | charitable contribution | $10,000 |
| praying for next generation atlanta, GA | charitable contribution | $10,000 |
| jam blue ridge highlands, NC | charitable contribution | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS 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.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.