Sola I Can Foundation

Analysis

Sola I Can Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in May 2018, 8 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 December 2023, Sola I Can Foundation reported income of $7.2m and spending of $2.7m, leaving 62% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $294k to $7.2m (+2347%), an average of +122% a year. The sharpest change came in the year to December 2020, when income rose by 875%. Over the whole period it spent 50% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Sola I Can Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Big Brothers and Big Sisters of Greater Miami ($7.2m), Kids Around the World Inc ($7.2m) and Year One Inc ($7.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 102% and program service revenue 0.2% of the total. Other salaries and wages came to $1.0m. At year end it held assets of $8.2m against liabilities of $1.6m, net assets of $6.6m. It reported 29 employees.