Solutions For Independence
EIN: 561811580 · Winston Salem, NC · NTEE: P20Z
| Metric | Value |
|---|---|
| Total Revenue | $750K |
| Total Expenses | $676K |
| Net Assets | $77K |
Is Solutions For Independence Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Solutions For Independence
Solutions For Independence (EIN: 561811580) is a nonprofit organization based in Winston Salem, NC, classified under NTEE code P20Z. The organization reported total revenue of $750K and total assets of $69K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Solutions For Independence's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Solutions For Independence is a small nonprofit that has been operating for 32 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 5.4%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $681K |
| Total Expenses | $676K |
| Surplus / Deficit | +$5K |
| Total Assets | $77K |
| Net Assets | $77K |
| Operating Margin | 0.7% |
| Months of Reserves | 1.4 months |
Financial Health Grade: A
In 2022, Solutions For Independence reported a surplus of $5K with revenue exceeding expenses, holds 1.4 months of operating reserves (limited).
Financial Trends
Over 12 years of filings (2011–2022), Solutions For Independence's revenue has grown at a compound annual growth rate (CAGR) of 5.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +25.8% | +18.4% | +2.1% |
| 2021 | +34.9% | +43.2% | -26.8% |
| 2020 | +2.3% | +13.2% | -1.0% |
| 2019 | +16.6% | +9.4% | +76.2% |
| 2018 | -3.5% | -4.9% | +31.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Solutions For Independence 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 Solutions For Independence 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $5K, with revenue exceeding expenses.
Frequently Asked Questions about Solutions For Independence
Is Solutions For Independence a legitimate charity?
Based on AI analysis of IRS 990 filings, Solutions For Independence (EIN: 561811580) insufficient data. 0 red flags identified, 0 strengths noted.
How does Solutions For Independence spend its money?
Detailed spending breakdown data is not yet available for Solutions For Independence. Check back for updated IRS 990 analysis.
Are donations to Solutions For Independence tax-deductible?
Solutions For Independence is registered as a tax-exempt nonprofit (EIN: 561811580). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Solutions For Independence located?
Solutions For Independence is headquartered in Winston Salem, North Carolina and files with the IRS under EIN 561811580. It is classified under NTEE code P20Z.
How many years of IRS 990 filings does Solutions For Independence have?
Solutions For Independence has 12 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 $750K in total revenue.
Filing History
IRS 990 filing history for Solutions For Independence showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Solutions For Independence's revenue has grown by 78.5%, moving from $381K to $681K. Total assets decreased by 12.2% over the same period, from $87K to $77K. Total functional expenses rose by 90.8%, from $354K to $676K. In its most recent filing year (2022), Solutions For Independence reported a surplus of $5K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $681K | $676K | $77K | $0 | — | View 990 |
| 2021 | $541K | $571K | $75K | $3K | — | View 990 |
| 2020 | $401K | $399K | $103K | $1K | — | View 990 |
| 2019 | $392K | $352K | $104K | $5K | — | View 990 |
| 2018 | $336K | $322K | $59K | $0 | — | View 990 |
| 2017 | $348K | $339K | $45K | $0 | — | View 990 |
| 2016 | $339K | $330K | $35K | $0 | — | View 990 |
| 2015 | $366K | $365K | $27K | $0 | — | View 990 |
| 2014 | $307K | $351K | $25K | $0 | — | View 990 |
| 2013 | $363K | $382K | $69K | $0 | — | View 990 |
| 2012 | $396K | $396K | $92K | $5K | — | View 990 |
| 2011 | $381K | $354K | $87K | $110 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $681K, expenses of $676K, and assets of $77K (revenue +25.8% year-over-year).
- 2021: Revenue of $541K, expenses of $571K, and assets of $75K (revenue +34.9% year-over-year).
- 2020: Revenue of $401K, expenses of $399K, and assets of $103K (revenue +2.3% year-over-year).
- 2019: Revenue of $392K, expenses of $352K, and assets of $104K (revenue +16.6% year-over-year).
- 2018: Revenue of $336K, expenses of $322K, and assets of $59K (revenue -3.5% year-over-year).
- 2017: Revenue of $348K, expenses of $339K, and assets of $45K (revenue +2.8% year-over-year).
- 2016: Revenue of $339K, expenses of $330K, and assets of $35K (revenue -7.5% year-over-year).
- 2015: Revenue of $366K, expenses of $365K, and assets of $27K (revenue +19.2% year-over-year).
- 2014: Revenue of $307K, expenses of $351K, and assets of $25K (revenue -15.3% year-over-year).
- 2013: Revenue of $363K, expenses of $382K, and assets of $69K (revenue -8.4% year-over-year).
- 2012: Revenue of $396K, expenses of $396K, and assets of $92K (revenue +4.0% year-over-year).
- 2011: Revenue of $381K, expenses of $354K, and assets of $87K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Solutions For Independence:
Data Sources and Methodology
This transparency report for Solutions For Independence 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.