Solomons Temple Foundation Inc

Analysis

Solomons Temple Foundation Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in March 2016, 10 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2022, Solomons Temple Foundation Inc reported income of $618k and spending of $460k, leaving 25% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income fell from $652k to $618k (-5.3%), an average of -1.8% a year. The sharpest change came in the year to December 2020, when income dropped by 26%. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Solomons Temple Foundation Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within GA. Charities of a similar size with the same main cause include Chaska Manor Inc ($617k), Affordable Housing Corporation ($618k) and Anand Martin Foundation Inc ($617k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 111% of the total. Compensation of current officers, directors and key employees was $4,811 (1.0% of expenses). Other salaries and wages came to $227k. It paid $26k in professional fundraising fees. At year end it held assets of $655k against liabilities of $112k, net assets of $543k. It reported 13 employees.