Soul Foundation Inc

Analysis

Soul Foundation Inc is a registered charity in United States, based in Bowie, MD. It received its IRS tax-exemption ruling in January 2010, 16 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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 August 2023, Soul Foundation Inc reported income of $406k and spending of $483k, spending 119% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $478k to $406k (-15%), an average of -4.0% a year. The sharpest change came in the year to August 2022, when income rose by 21%. Over the whole period it spent 100% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Soul Foundation Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within MD. Charities of a similar size with the same main cause include National Center for Advanced Technologies Inc ($406k), Chijnaya Foundation Inc ($407k) and International Alliance for Mercy Inc ($406k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 61% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $85k (18% of expenses). At year end it held assets of $235k against liabilities of $24k, net assets of $211k. It reported 4 employees.