Sol Financial Services

Analysis

Sol Financial Services is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in February 2022, 4 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, Sol Financial Services reported income of $58k and spending of $56k, spending 97% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $50k to $58k (+16%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Sol Financial Services sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 23rd percentile within TX. Charities of a similar size with the same main cause include Latterhouse Decor ($58k), Gemah Lehalvot Inc ($58k) and South Dakota Cap Directors Association Inc ($58k).

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 $1,760 against liabilities of $0, net assets of $1,760.