Soar Initiative Inc
EIN: 812227366 · Indianapolis, IN · NTEE: P85
| Metric | Value |
|---|---|
| Total Revenue | $227K |
| Total Expenses | $273K |
| Net Assets | $66K |
Is Soar Initiative Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Soar Initiative Inc
Soar Initiative Inc (EIN: 812227366) is a nonprofit organization based in Indianapolis, IN, classified under NTEE code P85. The organization reported total revenue of $227K and total assets of $268K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Soar Initiative Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Soar Initiative Inc is a small nonprofit that has been operating for 9 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of 17.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $278K |
| Total Expenses | $273K |
| Surplus / Deficit | +$5K |
| Total Assets | $284K |
| Total Liabilities | $218K |
| Net Assets | $66K |
| Operating Margin | 1.8% |
| Debt-to-Asset Ratio | 76.7% |
| Months of Reserves | 12.5 months |
Financial Health Grade: A
In 2023, Soar Initiative Inc reported a surplus of $5K with revenue exceeding expenses, holds 12.5 months of operating reserves (strong position), has a debt-to-asset ratio of 76.7% (high leverage).
Financial Trends
Over 6 years of filings (2018–2023), Soar Initiative Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +40.3% | +25.6% | +0.1% |
| 2022 | -0.4% | -9.1% | -9.5% |
| 2021 | -24.6% | +3.9% | -8.9% |
| 2020 | -3.7% | +16.4% | +9.1% |
| 2019 | +121.7% | +73.2% | +3105.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2017 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Soar Initiative Inc 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 Initiative Inc 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 surplus of $5K, with revenue exceeding expenses.
- Debt-to-asset ratio: 76.7%.
Frequently Asked Questions about Soar Initiative Inc
Is Soar Initiative Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Soar Initiative Inc (EIN: 812227366) insufficient data. 0 red flags identified, 0 strengths noted.
How does Soar Initiative Inc spend its money?
Detailed spending breakdown data is not yet available for Soar Initiative Inc. Check back for updated IRS 990 analysis.
Are donations to Soar Initiative Inc tax-deductible?
Soar Initiative Inc is registered as a tax-exempt nonprofit (EIN: 812227366). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Soar Initiative Inc located?
Soar Initiative Inc is headquartered in Indianapolis, Indiana and files with the IRS under EIN 812227366. It is classified under NTEE code P85.
How many years of IRS 990 filings does Soar Initiative Inc have?
Soar Initiative Inc has 6 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 $227K in total revenue.
Filing History
IRS 990 filing history for Soar Initiative Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), Soar Initiative Inc's revenue has grown by 124.9%, moving from $124K to $278K. Total assets increased by 2788.1% over the same period, from $10K to $284K. Total functional expenses rose by 139.3%, from $114K to $273K. In its most recent filing year (2023), Soar Initiative Inc reported a surplus of $5K, with revenue exceeding expenses. The organization holds $218K in liabilities against $284K in assets (debt-to-asset ratio: 76.7%), resulting in net assets of $66K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $278K | $273K | $284K | $218K | — | View 990 |
| 2022 | $198K | $217K | $284K | $223K | — | View 990 |
| 2021 | $199K | $239K | $313K | $233K | — | View 990 |
| 2020 | $264K | $230K | $344K | $224K | — | — |
| 2019 | $274K | $197K | $315K | $229K | — | View 990 |
| 2018 | $124K | $114K | $10K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $278K, expenses of $273K, and assets of $284K (revenue +40.3% year-over-year).
- 2022: Revenue of $198K, expenses of $217K, and assets of $284K (revenue -0.4% year-over-year).
- 2021: Revenue of $199K, expenses of $239K, and assets of $313K (revenue -24.6% year-over-year).
- 2020: Revenue of $264K, expenses of $230K, and assets of $344K (revenue -3.7% year-over-year).
- 2019: Revenue of $274K, expenses of $197K, and assets of $315K (revenue +121.7% year-over-year).
- 2018: Revenue of $124K, expenses of $114K, and assets of $10K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Soar Initiative Inc:
Data Sources and Methodology
This transparency report for Soar Initiative Inc 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.