Soaring Society of America Inc

Analysis

Soaring Society of America Inc is a registered charity in United States, based in Hobbs, NM. It received its IRS tax-exemption ruling in August 1941, 85 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Soaring Society of America Inc reported income of $1.3m and spending of $1.4m, spending 107% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.3m (-16%), an average of -5.8% a year. The sharpest change came in the year to December 2022, when income dropped by 55%. Over the whole period it spent 77% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Soaring Society of America Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within NM. Charities of a similar size with the same main cause include Greater Houston Volleyball Association ($1.3m), Cape Coral Soccer Association Inc ($1.3m) and Utah High School Hockey Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 9.6% of the total. Compensation of current officers, directors and key employees was $190k (13% of expenses). Other salaries and wages came to $137k. At year end it held assets of $749k against liabilities of $408k, net assets of $341k. It reported 9 employees.