Sophia Farms

Analysis

Sophia Farms is a registered charity in United States, based in Dinwiddie, VA. It received its IRS tax-exemption ruling in April 2020, 6 years ago. Its declared purposes cover food, agriculture and nutrition, 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 May 2023, Sophia Farms reported income of $97k and spending of $60k, leaving 38% of income unspent that year. Across the 2 years on record, from May 2022 to May 2023, income fell from $210k to $97k (-54%), an average of -54% a year. The sharpest change came in the year to May 2023, when income dropped by 54%. 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, Sophia Farms sits at the 32nd percentile: it is larger than about 32% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 35th percentile within VA. Charities of a similar size with the same main cause include Knox County Community Center ($97k), J Y Joyner Foundation ($97k) and Southeast Kansas Ministerial Alliance Inc ($97k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 66% of the total. At year end it held assets of $189k against liabilities of $64k, net assets of $125k.