Soarway Foundation

Analysis

Soarway Foundation is a registered charity in United States, based in Bristow, VA. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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, Soarway Foundation reported income of $232k and spending of $112k, leaving 52% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $259k to $232k (-10%), an average of -5.4% a year. The sharpest change came in the year to December 2023, when income rose by 86%. Over the whole period it spent 92% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Soarway Foundation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 56th percentile within VA. Charities of a similar size with the same main cause include Tamarindo Foundation Inc ($232k), Build and Restore International ($232k) and Only a Servant Ministries Inc ($231k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $40k. At year end it held assets of $137k against liabilities of $0, net assets of $137k.