Solomon Project
EIN: 521942995 · Washington, DC
| Metric | Value |
|---|---|
| Total Expenses | $117K |
| Net Assets | $-94,950 |
Is Solomon Project Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Solomon Project
Solomon Project (EIN: 521942995) is a nonprofit organization based in Washington, DC. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Solomon Project's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Solomon Project is a micro nonprofit, with 3 years of IRS 990 filings on record (2011–2015). Revenue has grown at a compound annual rate of 72.4%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
| Total Revenue | $94K |
| Total Expenses | $117K |
| Surplus / Deficit | $-22,583 |
| Total Assets | $6K |
| Total Liabilities | $101K |
| Net Assets | $-94,950 |
| Operating Margin | -24.0% |
| Debt-to-Asset Ratio | 1766.1% |
| Months of Reserves | 0.6 months |
Financial Health Grade: D
In 2015, Solomon Project reported a deficit of $23K with expenses exceeding revenue, holds 0.6 months of operating reserves (limited), has a debt-to-asset ratio of 1766.1% (high leverage).
Financial Trends
Over 3 years of filings (2011–2015), Solomon Project's revenue has grown at a compound annual growth rate (CAGR) of 72.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2015 | +132.1% | +708.8% | -69.8% |
| 2012 | +280.3% | -81.3% | +177.7% |
AI Analysis Pending
AI enrichment for Solomon Project 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 Solomon Project 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 (2015)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $23K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1766.1%.
Frequently Asked Questions about Solomon Project
Is Solomon Project a legitimate charity?
Solomon Project (EIN: 521942995) is a registered tax-exempt nonprofit based in Washington DC. It has 3 years of IRS 990 filings on record. No red flags identified. Financial health grade: D.
How does Solomon Project spend its money?
Solomon Project reported its financials in IRS 990 filings. 3 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Solomon Project tax-deductible?
Solomon Project is registered as a tax-exempt nonprofit (EIN: 521942995). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Solomon Project located?
Solomon Project is headquartered in Washington, Washington DC and files with the IRS under EIN 521942995.
How many years of IRS 990 filings does Solomon Project have?
Solomon Project has 3 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data.
Filing History
IRS 990 filing history for Solomon Project showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2011–2015), Solomon Project's revenue has grown by 782.7%, moving from $11K to $94K. Total assets decreased by 16.2% over the same period, from $7K to $6K. Total functional expenses rose by 51.5%, from $77K to $117K. In its most recent filing year (2015), Solomon Project reported a deficit of $23K, with expenses exceeding revenue. The organization holds $101K in liabilities against $6K in assets (debt-to-asset ratio: 1766.1%), resulting in net assets of $-94,950.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2015 | $94K | $117K | $6K | $101K | — | — |
| 2012 | $41K | $14K | $19K | $14K | — | View 990 |
| 2011 | $11K | $77K | $7K | $28K | — | View 990 |
Year-by-Year Financial Summary
- 2015: Revenue of $94K, expenses of $117K, and assets of $6K (revenue +132.1% year-over-year).
- 2012: Revenue of $41K, expenses of $14K, and assets of $19K (revenue +280.3% year-over-year).
- 2011: Revenue of $11K, expenses of $77K, and assets of $7K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Solomon Project:
Data Sources and Methodology
This transparency report for Solomon Project 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.