Sowela Technical Community College Foundation

Analysis

Sowela Technical Community College Foundation is a registered charity in United States, based in Lake Charles, LA. It received its IRS tax-exemption ruling in May 1992, 34 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Sowela Technical Community College Foundation reported income of $2.4m and spending of $2.1m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $2.4m (+63%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 140%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Sowela Technical Community College Foundation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within LA. Charities of a similar size with the same main cause include Holbrook Ems Inc ($2.4m), Foundation for Independent Living Inc ($2.4m) and Greater Reno Community Ice Skating Association ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $5.1m against liabilities of $2.0m, net assets of $3.1m.