Soharlem Inc

Analysis

Soharlem Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 2015, 11 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, Soharlem Inc reported income of $936k and spending of $1.0m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $203k to $936k (+362%), an average of +47% a year. The sharpest change came in the year to December 2021, when income rose by 296%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soharlem Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Center of Christian Service ($936k), Kids in Distress Services Inc ($936k) and The Brownson House Inc ($936k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 6.6% of the total. Compensation of current officers, directors and key employees was $130k (13% of expenses). Other salaries and wages came to $57k. At year end it held assets of $87k against liabilities of $466, net assets of $86k. It reported 3 employees.