Soww Corp

Analysis

Soww Corp is a registered charity in United States, based in Grinnell, IA. It received its IRS tax-exemption ruling in December 2013, 13 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, Soww Corp reported income of $1.5m and spending of $886k, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $737k to $1.5m (+103%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 130%. Over the whole period it spent 77% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soww Corp 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 83rd percentile, and in the 85th percentile within IA. Charities of a similar size with the same main cause include Bright Beginnings Academy Inc ($1.5m), Meals on Wheels of Long Beach Inc ($1.5m) and Canine Partners for Life ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% of the total. At year end it held assets of $2.0m against liabilities of $8,325, net assets of $2.0m.