Soundstrong

Analysis

Soundstrong is a registered charity in United States, based in Fredericksburg, VA. It received its IRS tax-exemption ruling in August 2019, 7 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, Soundstrong reported income of $107k and spending of $40k, leaving 63% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $100k to $107k (+7.4%), an average of +7.4% a year. Over the whole period it spent 40% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Soundstrong sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 38th percentile within VA. Charities of a similar size with the same main cause include Care and Share Food Closet ($107k), Step It Up Inc ($107k) and First International Doers Ministries ($107k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $212k against liabilities of $73, net assets of $212k.