Soar Career Solutions

Analysis

Soar Career Solutions is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in September 1983, 43 years ago. 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 Career Solutions reported income of $1.2m and spending of $1.1m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $853k to $1.2m (+44%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Soar Career Solutions 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 81st percentile, and in the 81st percentile within MN. Charities of a similar size with the same main cause include Louisiana Soccer Association ($1.2m), Northern Michigan Childrens Assessment Center ($1.2m) and Chemical Educational Foundation ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $156k (14% of expenses). Other salaries and wages came to $511k. At year end it held assets of $440k against liabilities of $150k, net assets of $290k. It reported 15 employees.