Soar Foundation

Analysis

Soar Foundation is a registered charity in United States, based in Fremont, CA. It received its IRS tax-exemption ruling in March 1997, 29 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Soar Foundation reported income of $1.7m and spending of $680k, leaving 59% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.7m (+34%), an average of +7.5% a year. The sharpest change came in the year to December 2023, when income rose by 61%. Over the whole period it spent 51% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Soar Foundation sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include St Augustine School ($1.7m), South Coast Montessori ($1.7m) and Drexel Academy Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% of the total. Other salaries and wages came to $8,785. It paid $21k in professional fundraising fees. At year end it held assets of $6.0m against liabilities of $437k, net assets of $5.6m.