Sobe Room Inc

Analysis

Sobe Room Inc is a registered charity in United States, based in Miami Beach, FL. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2022, Sobe Room Inc reported income of $108k and spending of $99k, spending 92% of its income. Across the 4 years on record, from June 2019 to June 2022, income grew from $83k to $108k (+30%), an average of +9.1% a year. The sharpest change came in the year to June 2022, when income rose by 18%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Sobe Room Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 42nd percentile within FL. Charities of a similar size with the same main cause include Bridge Educational Philanthropy ($107k), Infrastructure Assistance Coordination Council ($108k) and Global Partners Running Waters Inc ($107k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 16% and program service revenue 78% of the total. At year end it held assets of $457k against liabilities of $58k, net assets of $399k.