Soles 4 Souls

Analysis

Soles 4 Souls is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in October 2006, 20 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Soles 4 Souls reported income of $108.4m and spending of $100.3m, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $121.7m to $108.4m (-11%), an average of -3.8% a year. The sharpest change came in the year to June 2021, when income dropped by 33%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soles 4 Souls sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within TN. Charities of a similar size with the same main cause include Global Connections to Employment Inc ($107.2m), Access Supports for Living Inc ($108.5m) and Young Mens Christian Association of San Francisco ($107.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 8.9% of the total. Compensation of current officers, directors and key employees was $1.4m (1.4% of expenses). Other salaries and wages came to $4.4m. It paid $68k in professional fundraising fees. At year end it held assets of $42.5m against liabilities of $5.3m, net assets of $37.3m. It reported 86 employees.