Solace House Inc

Analysis

Solace House Inc is a registered charity in United States, based in Long Island City, NY. It received its IRS tax-exemption ruling in December 2015, 11 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Solace House Inc reported income of $546k and spending of $608k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $497k to $546k (+9.8%), an average of +2.4% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Solace House Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Creative York ($546k), Nashville Public Media Inc ($547k) and Oklahoma Visual Arts Coaliton Inc ($546k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. Other salaries and wages came to $402k. At year end it held assets of $77k against liabilities of $105k, net assets of -$28k.