Soup or Socks Inc

Analysis

Soup or Socks Inc is a registered charity in United States, based in Marshfield, WI. It received its IRS tax-exemption ruling in April 1994, 32 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 October 2023, Soup or Socks Inc reported income of $168k and spending of $200k, spending 119% of what it took in. Across the 4 years on record, from October 2020 to October 2023, income fell from $245k to $168k (-32%), an average of -12% a year. The sharpest change came in the year to October 2022, when income dropped by 17%. Over the whole period it spent 81% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soup or Socks Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 49th percentile within WI. Charities of a similar size with the same main cause include Burke Adult Center Inc ($168k), Citizens for a Better Grand Bay ($168k) and Mikes Skins Charities Inc ($168k).

On its Form 990-EZ for the period ending October 2023, revenue came from contributions and grants 88% of the total. At year end it held assets of $233k against liabilities of $3,492, net assets of $229k.