Soar Tennessee

Analysis

Soar Tennessee is a registered charity in United States, based in Maryville, TN. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover human services, 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, Soar Tennessee reported income of $2.8m and spending of $2.4m, spending 86% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $211k to $2.8m (+1211%), an average of +136% a year. The sharpest change came in the year to December 2023, when income rose by 268%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soar Tennessee 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 88th percentile, and in the 89th percentile within TN. Charities of a similar size with the same main cause include Willamette Lutheran Homes Inc ($2.8m), Extended Housing Inc ($2.8m) and Meals on Wheels New Mexico ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.6% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $33k (1.4% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $269k against liabilities of -$157k, net assets of $426k.