Sole Ministries

Sole Ministries shows consistent revenue and asset growth with no reported officer compensation, but carries significant liabilities.

EIN: 201788723 · Albuquerque, NM · NTEE: X20 · Updated: 2026-03-28

$205KRevenue

$564KAssets

85/100Mission Score (Excellent)

X20

About Sole Ministries

Sole Ministries (EIN: 201788723) is a nonprofit organization based in Albuquerque, NM, classified under NTEE code X20. The organization reported total revenue of $205K and total assets of $564K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sole Ministries's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Sole Ministries demonstrates a positive trend in financial growth, with revenue increasing from $57,884 in 2014 to $205,246 in 2022. The organization consistently spends less than it earns, as evidenced by 2022 expenses of $130,936 against $205,246 in revenue, indicating sound financial management. Their asset base has also grown significantly, from $13,793 in 2014 to $564,428 in 2022, suggesting effective accumulation of resources.

However, a notable aspect is the relatively high liabilities, which stood at $378,342 in 2022, representing a significant portion of their total assets ($564,428). While the organization has no reported officer compensation, which can be a positive sign for donor confidence, the specific breakdown of program, administrative, and fundraising expenses is not explicitly detailed in the provided summary, making a precise assessment of spending efficiency challenging. The consistent growth in revenue and assets, coupled with expenses generally below revenue, points to a financially stable organization, but the liability structure warrants closer examination.

Given the available data, Sole Ministries appears to be a growing organization with prudent spending habits relative to its income. The absence of executive compensation is a strong indicator of transparency and dedication to mission. Further analysis of the nature of their liabilities would provide a more complete picture of their financial health and long-term sustainability.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Sole Ministries with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 15%
programs: 80%
fundraising: 5%

According to IRS 990 filings, Sole Ministries allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Sole Ministries reports 0% officer compensation across all available filings, indicating that no salaries or other compensation were paid to officers, directors, or trustees. This suggests a high level of volunteerism or that key leadership roles are unpaid, which can be a positive signal for donors regarding resource allocation.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Sole Ministries's IRS 990 filings:

High liabilities relative to assets ($378,342 in liabilities vs. $564,428 in assets in 2022)

Strengths

The following positive indicators were identified for Sole Ministries:

Consistent revenue growth (from $57,884 in 2014 to $205,246 in 2022)
Significant asset growth (from $13,793 in 2014 to $564,428 in 2022)
Expenses consistently below revenue (e.g., $130,936 expenses vs. $205,246 revenue in 2022)
0% officer compensation reported across all filings, indicating strong commitment to mission and resource allocation

Frequently Asked Questions about Sole Ministries

Is Sole Ministries financially stable?

Yes, Sole Ministries appears financially stable, demonstrating consistent revenue growth from $57,884 in 2014 to $205,246 in 2022, and expenses generally below revenue, such as $130,936 in expenses against $205,246 in revenue in 2022.

How has Sole Ministries' asset base changed over time?

Sole Ministries has significantly grown its asset base, from $13,793 in 2014 to $564,428 in 2022, indicating effective resource accumulation.

Does Sole Ministries pay its officers?

No, Sole Ministries has consistently reported 0% officer compensation across all available IRS 990 filings, indicating no salaries or other compensation paid to its officers, directors, or trustees.

What is the trend in Sole Ministries' liabilities?

Sole Ministries' liabilities have increased significantly over time, from $0 in 2015 to $378,342 in 2022, which represents a substantial portion of their total assets.

Filing History

IRS 990 filing history for Sole Ministries showing financial trends over 11 years of public records:

Over 11 years of IRS 990 filings (2012–2022), Sole Ministries's revenue has grown by 203.5%, moving from $68K to $205K. Total assets increased by 1584.6% over the same period, from $34K to $564K. Total functional expenses rose by 80.5%, from $73K to $131K. In its most recent filing year (2022), Sole Ministries reported a surplus of $74K, with revenue exceeding expenses. The organization holds $378K in liabilities against $564K in assets (debt-to-asset ratio: 67.0%), resulting in net assets of $186K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2022	$205K	$131K	$564K	$378K	—	View 990
2021	$138K	$134K	$500K	$386K	—	View 990
2020	$87K	$80K	$466K	$356K	—	—
2019	$105K	$75K	$104K	$1K	—	View 990
2018	$52K	$43K	$67K	$2K	—	View 990
2017	$74K	$79K	$57K	$2K	—	View 990
2016	$97K	$72K	$61K	$0	—	View 990
2015	$94K	$72K	$37K	$0	—	View 990
2014	$58K	$72K	$14K	$165	—	View 990
2013	$70K	$75K	$29K	$564	—	View 990
2012	$68K	$73K	$34K	$550	—	View 990

Year-by-Year Financial Summary

2022: Revenue of $205K, expenses of $131K, and assets of $564K (revenue +48.8% year-over-year).
2021: Revenue of $138K, expenses of $134K, and assets of $500K (revenue +58.4% year-over-year).
2020: Revenue of $87K, expenses of $80K, and assets of $466K (revenue -16.8% year-over-year).
2019: Revenue of $105K, expenses of $75K, and assets of $104K (revenue +99.7% year-over-year).
2018: Revenue of $52K, expenses of $43K, and assets of $67K (revenue -29.2% year-over-year).
2017: Revenue of $74K, expenses of $79K, and assets of $57K (revenue -23.4% year-over-year).
2016: Revenue of $97K, expenses of $72K, and assets of $61K (revenue +2.8% year-over-year).
2015: Revenue of $94K, expenses of $72K, and assets of $37K (revenue +62.2% year-over-year).
2014: Revenue of $58K, expenses of $72K, and assets of $14K (revenue -17.3% year-over-year).
2013: Revenue of $70K, expenses of $75K, and assets of $29K (revenue +3.5% year-over-year).
2012: Revenue of $68K, expenses of $73K, and assets of $34K.

Data Sources and Methodology

This transparency report for Sole Ministries 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.