Soulu

Analysis

Soulu is a registered charity in United States, based in Lincolnwood, IL. It received its IRS tax-exemption ruling in May 2020, 6 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, Soulu reported income of $2.8m and spending of $2.1m, leaving 25% of income unspent that year. Across the 6 years on record, from December 2018 to December 2023, income grew from $559k to $2.8m (+399%), an average of +38% a year. The sharpest change came in the year to December 2021, when income rose by 119%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soulu 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 88th percentile within IL. Charities of a similar size with the same main cause include Child Care Resources of Monmouth County Inc ($2.8m), Ames Child Care Center ($2.8m) and Bread of Life Mission ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $313k (15% of expenses). Other salaries and wages came to $915k. At year end it held assets of $1.8m against liabilities of $25k, net assets of $1.8m. It reported 36 employees.