Soar Inc

Analysis

Soar Inc is a registered charity in United States, based in Balsam, NC. It received its IRS tax-exemption ruling in June 1983, 43 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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, Soar Inc reported income of $4.8m and spending of $5.7m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.6m to $4.8m (-14%), an average of -3.7% a year. The sharpest change came in the year to December 2020, when income dropped by 39%. Over the whole period it spent 100% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Soar Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NC. Charities of a similar size with the same main cause include Eco Center Inc ($4.8m), Ecology Center Inc ($4.8m) and Delaware Association of Conservation Districts ($4.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.5% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $406k (7.2% of expenses). Other salaries and wages came to $2.1m. It paid $32k in professional fundraising fees. At year end it held assets of $7.7m against liabilities of $2.3m, net assets of $5.4m. It reported 111 employees.