Solidaire Network Inc

Analysis

Solidaire Network Inc is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2024, Solidaire Network Inc reported income of $17.8m and spending of $14.5m, spending 82% of its income. Across the 4 years on record, from June 2021 to June 2024, income fell from $35.5m to $17.8m (-50%), an average of -21% a year. The sharpest change came in the year to June 2024, when income rose by 123%. Over the whole period it spent 94% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Solidaire Network Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Media Development Investment Fund Inc ($17.7m), Community Foundation of Greater Huntsville ($17.8m) and Kosciusko County Community Foundation Inc ($17.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $374k (2.6% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $6.0m against liabilities of $1.5m, net assets of $4.5m. It reported 26 employees.