Solo Foundation

Analysis

Solo Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in January 1981, 45 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Solo Foundation reported income of $155k and spending of $160k, spending 103% of its income. Across the 3 years on record, from December 2020 to December 2023, income fell from $245k to $155k (-36%), an average of -20% a year. The sharpest change came in the year to December 2022, when income dropped by 49%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Solo Foundation sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within NY. Charities of a similar size with the same main cause include Chatham Chorale Inc ($155k), Allendale Ambulance Corps Inc ($155k) and Blue Feather Inc ($155k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 10% of the total. At year end it held assets of $154k against liabilities of $6,700, net assets of $147k.