Soar Initiative Inc

Analysis

Soar Initiative Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in March 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Soar Initiative Inc reported income of $278k and spending of $273k, spending 98% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $274k to $278k (+1.5%), an average of +0.5% a year. The sharpest change came in the year to December 2023, when income rose by 40%. 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 Initiative Inc sits at the 55th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within IN. Charities of a similar size with the same main cause include Hartford City Mission Inc ($278k), Kisoboka Uganda ($278k) and Giving in Motion Inc ($278k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $284k against liabilities of $218k, net assets of $66k.