Soar Youth Ministries

Analysis

Soar Youth Ministries is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in January 1998, 28 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 July 2023, Soar Youth Ministries reported income of $2.4m and spending of $2.2m, spending 92% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $1.1m to $2.4m (+116%), an average of +21% a year. The sharpest change came in the year to July 2021, when income rose by 70%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soar Youth Ministries sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Gig Harbor Peninsula Fish ($2.4m), Hollywood Senior Center ($2.4m) and Vital Connections of the Midlands Inc ($2.4m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $103k (4.7% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $1.4m against liabilities of $79k, net assets of $1.3m. It reported 201 employees.