Souls Grown Deep Foundation Inc

Analysis

Souls Grown Deep Foundation Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in March 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Souls Grown Deep Foundation Inc reported income of $602k and spending of $1.1m, spending 181% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.7m to $602k (-65%), an average of -23% a year. The sharpest change came in the year to June 2021, when income rose by 114%. Over the whole period it spent 61% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Souls Grown Deep Foundation Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within GA. Charities of a similar size with the same main cause include Aiken Center for the Arts Inc ($602k), South Coast Community Media Access Center ($602k) and The Jersey Surf a New Jersey Non-Profit Corporation ($602k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.5% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $316k (29% of expenses). Other salaries and wages came to $124k. At year end it held assets of $3.9m against liabilities of $109k, net assets of $3.8m.