Soar Detroit

Analysis

Soar Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in December 1999, 27 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Soar Detroit reported income of $792k and spending of $884k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income fell from $1.0m to $792k (-21%), an average of -5.7% a year. The sharpest change came in the year to June 2021, when income rose by 217%. Over the whole period it spent 91% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Soar Detroit sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Columbia Swim Club ($792k), High Sierra Lacrosse League ($794k) and Monroe Township Soccer Club Inc ($792k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $133k (15% of expenses). Other salaries and wages came to $382k. At year end it held assets of $492k against liabilities of $73k, net assets of $419k. It reported 19 employees.