Sofesa

Analysis

Sofesa is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in December 2008, 18 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 December 2023, Sofesa reported income of $142k and spending of $186k, spending 131% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $1.1m to $142k (-87%), an average of -64% a year. The sharpest change came in the year to December 2022, when income dropped by 93%. Over the whole period it spent 45% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sofesa sits at the 41st percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 48th percentile within CA. Charities of a similar size with the same main cause include Our Daily Bread Foundation ($142k), Rise Above Poverty Inc ($142k) and Valley Crossroads Inc ($142k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $813k against liabilities of $19k, net assets of $794k.