Soar Detroit
EIN: 383477837 · Detroit, MI · NTEE: N60
| Metric | Value |
|---|---|
| Total Revenue | $610K |
| Total Expenses | $884K |
| Net Assets | $419K |
Is Soar Detroit Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Soar Detroit
Soar Detroit (EIN: 383477837) is a nonprofit organization based in Detroit, MI, classified under NTEE code N60. The organization reported total revenue of $610K and total assets of $200K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Soar Detroit's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Soar Detroit is a small nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $792K |
| Total Expenses | $884K |
| Surplus / Deficit | $-91,785 |
| Total Assets | $492K |
| Total Liabilities | $73K |
| Net Assets | $419K |
| Operating Margin | -11.6% |
| Debt-to-Asset Ratio | 14.8% |
| Months of Reserves | 6.7 months |
Financial Health Grade: B
In 2023, Soar Detroit reported a deficit of $92K with expenses exceeding revenue, holds 6.7 months of operating reserves (strong position), has a debt-to-asset ratio of 14.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Soar Detroit's revenue has grown at a compound annual growth rate (CAGR) of 8.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -32.8% | +9.7% | -14.1% |
| 2022 | +69.1% | +19.3% | +246.7% |
| 2021 | +216.5% | +118.9% | -29.3% |
| 2020 | -78.0% | -64.9% | -23.8% |
| 2019 | +34.3% | +24.1% | +81.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Soar Detroit has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Soar Detroit with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $92K, with expenses exceeding revenue.
- Debt-to-asset ratio: 14.8%.
Frequently Asked Questions about Soar Detroit
Is Soar Detroit a legitimate charity?
Soar Detroit (EIN: 383477837) is a registered tax-exempt nonprofit based in Michigan. It has 13 years of IRS 990 filings on record. Total revenue: $610K. No red flags identified. Financial health grade: B.
How does Soar Detroit spend its money?
Soar Detroit reported $610K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Soar Detroit tax-deductible?
Soar Detroit is registered as a tax-exempt nonprofit (EIN: 383477837). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Soar Detroit located?
Soar Detroit is headquartered in Detroit, Michigan and files with the IRS under EIN 383477837. It is classified under NTEE code N60.
How many years of IRS 990 filings does Soar Detroit have?
Soar Detroit has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $610K in total revenue.
Filing History
IRS 990 filing history for Soar Detroit showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Soar Detroit's revenue has grown by 165.9%, moving from $298K to $792K. Total assets increased by 243.1% over the same period, from $143K to $492K. Total functional expenses rose by 183.8%, from $312K to $884K. In its most recent filing year (2023), Soar Detroit reported a deficit of $92K, with expenses exceeding revenue. The organization holds $73K in liabilities against $492K in assets (debt-to-asset ratio: 14.8%), resulting in net assets of $419K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $792K | $884K | $492K | $73K | — | — |
| 2022 | $1.2M | $806K | $573K | $62K | — | View 990 |
| 2021 | $697K | $676K | $165K | $27K | — | View 990 |
| 2020 | $220K | $309K | $234K | $81K | — | View 990 |
| 2019 | $1.0M | $879K | $307K | $66K | — | View 990 |
| 2018 | $746K | $709K | $169K | $53K | — | View 990 |
| 2017 | $571K | $623K | $115K | $35K | — | View 990 |
| 2016 | $403K | $374K | $127K | $4K | — | View 990 |
| 2015 | $338K | $425K | $96K | $2K | — | View 990 |
| 2014 | $386K | $1.9M | $183K | $2K | — | View 990 |
| 2013 | $2.1M | $1.0M | $1.1M | $4K | — | View 990 |
| 2012 | $302K | $308K | $92K | $2K | — | View 990 |
| 2011 | $298K | $312K | $143K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $792K, expenses of $884K, and assets of $492K (revenue -32.8% year-over-year).
- 2022: Revenue of $1.2M, expenses of $806K, and assets of $573K (revenue +69.1% year-over-year).
- 2021: Revenue of $697K, expenses of $676K, and assets of $165K (revenue +216.5% year-over-year).
- 2020: Revenue of $220K, expenses of $309K, and assets of $234K (revenue -78.0% year-over-year).
- 2019: Revenue of $1.0M, expenses of $879K, and assets of $307K (revenue +34.3% year-over-year).
- 2018: Revenue of $746K, expenses of $709K, and assets of $169K (revenue +30.8% year-over-year).
- 2017: Revenue of $571K, expenses of $623K, and assets of $115K (revenue +41.6% year-over-year).
- 2016: Revenue of $403K, expenses of $374K, and assets of $127K (revenue +19.2% year-over-year).
- 2015: Revenue of $338K, expenses of $425K, and assets of $96K (revenue -12.3% year-over-year).
- 2014: Revenue of $386K, expenses of $1.9M, and assets of $183K (revenue -81.4% year-over-year).
- 2013: Revenue of $2.1M, expenses of $1.0M, and assets of $1.1M (revenue +584.3% year-over-year).
- 2012: Revenue of $302K, expenses of $308K, and assets of $92K (revenue +1.4% year-over-year).
- 2011: Revenue of $298K, expenses of $312K, and assets of $143K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Soar Detroit:
Data Sources and Methodology
This transparency report for Soar Detroit is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.