Sonic Automotive Family Emergency Fund

Analysis

Sonic Automotive Family Emergency Fund is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 2012, 14 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 December 2023, Sonic Automotive Family Emergency Fund reported income of $185k and spending of $209k, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $255k to $185k (-27%), an average of -7.7% a year. The sharpest change came in the year to December 2021, when income dropped by 29%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sonic Automotive Family Emergency Fund sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within NC. Charities of a similar size with the same main cause include Power of Peace Initiative Inc ($185k), Lazarus House Ministries Inc ($185k) and Scottish Rite Foundation of Utah ($185k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $300k against liabilities of $0, net assets of $300k.