Somo Endowment Fund Inc
- Assets
- $467.7k
- Revenue
- $118.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Jefferson City, MO
- Founding
- 03/2005
- Data as of
- 12/2023
- EIN
- 20-1295769
Organization Overview
Somo Endowment Fund Inc is located in Jefferson City, MO. The organization was established in 2005. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somo Endowment Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Somo Endowment Fund Inc generated $118.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (32.8%) each year. All expenses for the organization totaled $5.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (44.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOMO ENDOWMENT FUND, INC. (THE FOUNDATION) WAS FORMED BY SPECIAL OLYMPICS MISSOURI, INC. TO ACT EXCLUSIVELY AS A SUPPORTING ORGANIZATION TO SPECIAL OLYMPICS MISSOURI, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUNCTION OF THE FOUNDATION IS TO RAISE FUNDS ON BEHALF OF SPECIAL OLYMPICS MISSOURI, INC., IN ORDER TO ALLOW THEM TO MEET THEIR SHORT TERM GOALS OF PROVIDING SPORTS TRAINING AND ATHLETIC COMPETITION SERVICES TO ITS ATHLETES, LOCATED THROUGHOUT THE STATE, AND THEIR LONG TERM GOALS OF ESTABLISHING A VIABLE FOUNDATION TO PROVIDE SUPPORT TO SOMO AND ITS ATHLETES IN THE YEARS TO COME. TO THIS END, SOMO HAS SUBSTANTIALLY INCREASED ITS CAPACITY TO SERVE INDIVIDUALS THROUGH A STATE-OF-THE-ART TRAINING FOR LIFE CAMPUS (TLC). THE 34,000 SQUARE-FOOT FACILITY, ON 16.5 ACRES IN JEFFERSON CITY, IS CENTRALLY LOCATED FOR THE 15,660 SOMO ATHLETES (INCLUDING ATHLETES, UNIFIED PARTNERS, YOUNG ATHLETES, UCS ATHLETES AND UCS UNIFIED PARTNERS) AND MANY MORE WHO ARE NOT YET PARTICIPATING IN THE PROGRAM. THE CAMPUS OPENED IN AUGUST 2018 AND INCLUDES INDOOR FACILITIES AND AN OUTDOOR TRAINING FIELD AND TRAIL. THE REMAINING NINE ACRES WILL INCLUDE SOFTBALL, BOCCE, AND TENNIS COURTS AS WELL AS A LETR PLAZA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Neuner Board Member - Staff Liason | Trustee | 3 | $0 |
Jenna Kerwood Chair | OfficerTrustee | 3 | $0 |
Briana Haines Co Chair | OfficerTrustee | 3 | $0 |
Dr Larry Ewing Board Member | Trustee | 3 | $0 |
Brad Grill Board Member - Imm. Past Chair | Trustee | 4 | $0 |
Glenda Knebel Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $117,733 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $117,733 |
| Total Program Service Revenue | $0 |
| Investment income | $437 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,549 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $321 |
| Total functional expenses | $5,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,155 |
| Savings and temporary cash investments | $351,670 |
| Pledges and grants receivable | $7,605 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,306 |
| Total assets | $467,736 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,000 |
| Total liabilities | $1,000 |
| Net assets without donor restrictions | $457,131 |
| Net assets with donor restrictions | $9,605 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $467,736 |