Sounds True Foundation

Analysis

Sounds True Foundation is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in March 2016, 10 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sounds True Foundation reported income of $552k and spending of $686k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $445k to $552k (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2020, when income rose by 211%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sounds True Foundation sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 69th percentile within CO. Charities of a similar size with the same main cause include Save Our Shores ($552k), Old Island Restoration Foundation Inc ($552k) and Very Little Theater Inc ($552k).

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 $320k against liabilities of $18k, net assets of $303k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.