Soky Marketplace Inc

Analysis

Soky Marketplace Inc is a registered charity in United States, based in Bowling Green, KY. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover food, agriculture and nutrition, 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, Soky Marketplace Inc reported income of $602k and spending of $357k, leaving 41% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $134k to $602k (+350%), an average of +350% a year. The sharpest change came in the year to December 2023, when income rose by 350%. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soky Marketplace Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within KY. Charities of a similar size with the same main cause include Blanchet Community Foundation ($602k), Jehovah Missionary Baptist Church Christian and Academic School ($602k) and Blessings Learning Academy of Alamo Texas Inc ($602k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 16% of the total. Other salaries and wages came to $111k. At year end it held assets of $249k against liabilities of $0, net assets of $249k.