Soul Flares Inc
Soul Flares Inc. reports positive net assets and zero officer compensation in its latest filing.
EIN: 205780404 · Burlington, VT · NTEE: P20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $293K |
| Total Expenses | $341K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $459,543 |
| Net Assets | $161K |
| Transparency Score | 90/100 |
Is Soul Flares Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Soul Flares Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Soul Flares Inc
Soul Flares Inc (EIN: 205780404) is a nonprofit organization based in Burlington, VT, classified under NTEE code P20. The organization reported total revenue of $293K and total assets of $242K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Soul Flares Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Soul Flares Inc is a small nonprofit that has been operating for 19 years.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $460K |
| Total Expenses | $341K |
| Surplus / Deficit | +$119K |
| Total Assets | $178K |
| Total Liabilities | $17K |
| Net Assets | $161K |
| Operating Margin | 25.9% |
| Debt-to-Asset Ratio | 9.4% |
| Months of Reserves | 6.3 months |
Financial Health Grade: A
In 2022, Soul Flares Inc reported a surplus of $119K with revenue exceeding expenses, holds 6.3 months of operating reserves (strong position), has a debt-to-asset ratio of 9.4% (very low leverage).
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Soul Flares Inc with a Mission Score of 90 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Soul Flares Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $119K, with revenue exceeding expenses.
- Debt-to-asset ratio: 9.4%.
Executive Compensation Analysis
Soul Flares Inc. reported 0% officer compensation in its 2022 filing, which is highly commendable and indicates that no portion of its $459,543 revenue was allocated to executive salaries, suggesting a volunteer-led or very lean leadership structure.
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 Soul Flares Inc's IRS 990 filings:
- Latest revenue ($292,873) is significantly lower than the previous period's revenue ($459,543), warranting further investigation into the cause of the decline.
Strengths
The following positive indicators were identified for Soul Flares Inc:
- Strong asset growth from $178,175 in 2022 to $241,954 currently.
- Very low liabilities ($16,680 in 2022) relative to assets and revenue.
- Reported 0% officer compensation in 2022, indicating high efficiency and dedication of resources to the mission.
- Positive net income in 2022 ($459,543 revenue vs. $340,657 expenses).
Frequently Asked Questions about Soul Flares Inc
Is Soul Flares Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Soul Flares Inc (EIN: 205780404) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Soul Flares Inc spend its money?
Soul Flares Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Soul Flares Inc tax-deductible?
Soul Flares Inc is registered as a tax-exempt nonprofit (EIN: 205780404). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Soul Flares Inc CEO make?
Soul Flares Inc's highest-compensated officer earns $459,543 annually. The organization reported $293K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Soul Flares Inc's spending goes to programs?
Soul Flares Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Soul Flares Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Soul Flares Inc is above average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Soul Flares Inc located?
Soul Flares Inc is headquartered in Burlington, Vermont and files with the IRS under EIN 205780404. It is classified under NTEE code P20.
Is Soul Flares Inc. financially stable?
Yes, Soul Flares Inc. appears financially stable. Its assets grew from $178,175 in 2022 to $241,954 currently, and it reported a surplus in 2022 with revenues of $459,543 exceeding expenses of $340,657. Liabilities are also low at $16,680.
Does Soul Flares Inc. pay its officers?
Based on the 2022 IRS 990 filing, Soul Flares Inc. reported 0% officer compensation, indicating no salaries were paid to its officers during that period.
How has Soul Flares Inc.'s revenue changed?
Soul Flares Inc.'s latest reported revenue is $292,873, which is a decrease from its 2022 revenue of $459,543. This suggests a potential fluctuation in funding or operational scale between periods.
Filing History
IRS 990 filing history for Soul Flares Inc showing financial trends over 1 year of public records:
In its most recent filing year (2022), Soul Flares Inc reported a surplus of $119K, with revenue exceeding expenses. The organization holds $17K in liabilities against $178K in assets (debt-to-asset ratio: 9.4%), resulting in net assets of $161K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $460K | $341K | $178K | $17K | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Soul Flares Inc:
Data Sources and Methodology
This transparency report for Soul Flares 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.