Soulformation
Soulformation maintains stable finances with growing assets and no reported officer compensation.
EIN: 204270408 · Portland, OR · NTEE: X21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $850K |
| Total Expenses | $741K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $800,000. |
| Net Assets | $436K |
| Transparency Score | 90/100 |
Is Soulformation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Soulformation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Soulformation
Soulformation (EIN: 204270408) is a nonprofit organization based in Portland, OR, classified under NTEE code X21. The organization reported total revenue of $850K and total assets of $463K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Soulformation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Soulformation is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $793K |
| Total Expenses | $741K |
| Surplus / Deficit | +$52K |
| Total Assets | $454K |
| Total Liabilities | $18K |
| Net Assets | $436K |
| Operating Margin | 6.5% |
| Debt-to-Asset Ratio | 3.9% |
| Months of Reserves | 7.4 months |
Financial Health Grade: A
In 2023, Soulformation reported a surplus of $52K with revenue exceeding expenses, holds 7.4 months of operating reserves (strong position), has a debt-to-asset ratio of 3.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Soulformation's revenue has grown at a compound annual growth rate (CAGR) of 8.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +15.8% | -0.3% | +17.6% |
| 2022 | +15.9% | +33.9% | -12.8% |
| 2021 | -16.9% | -14.3% | +8.2% |
| 2020 | -3.7% | -10.4% | +17.7% |
| 2019 | -2.7% | +15.3% | +5.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7100 |
| IRS Ruling Date | 2006 |
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 Soulformation 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: 85%
- fundraising: 5%
According to IRS 990 filings, Soulformation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $52K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.9%.
Executive Compensation Analysis
Soulformation consistently reports 0% officer compensation across all 13 filings, which is highly unusual for an organization with annual revenues approaching $800,000. This suggests either a fully volunteer-led executive team or that executive compensation is categorized differently within their expenses, warranting further inquiry for full clarity.
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 Soulformation's IRS 990 filings:
- Unusually low or zero reported officer compensation for an organization of this size, which may obscure actual executive remuneration if categorized elsewhere.
Strengths
The following positive indicators were identified for Soulformation:
- Consistent positive net income in most years, indicating financial stability.
- Strong asset growth over the past decade, from $127,785 in 2015 to $453,754 in 2023.
- Extremely low liabilities across all reporting periods, often at $0, demonstrating minimal debt.
- High transparency regarding officer compensation (even if unusual, it's consistently reported as zero).
- Healthy revenue-to-expense ratio in most years, suggesting efficient operations.
Frequently Asked Questions about Soulformation
Is Soulformation a legitimate charity?
Based on AI analysis of IRS 990 filings, Soulformation (EIN: 204270408) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Soulformation spend its money?
Soulformation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Soulformation tax-deductible?
Soulformation is registered as a tax-exempt nonprofit (EIN: 204270408). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Soulformation CEO make?
Soulformation's highest-compensated officer earns $800,000. annually. The organization reported $850K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Soulformation's spending goes to programs?
Soulformation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Soulformation compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Soulformation is above average for NTEE category X21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Soulformation located?
Soulformation is headquartered in Portland, Oregon and files with the IRS under EIN 204270408. It is classified under NTEE code X21.
How many years of IRS 990 filings does Soulformation have?
Soulformation has 13 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 $850K in total revenue.
How does Soulformation manage to operate without reporting any officer compensation?
The IRS 990 filings consistently show 0% officer compensation. This could mean that executive leadership is entirely volunteer-based, or that compensation for key personnel is reported under other expense categories, which would require a deeper dive into their detailed expense breakdown.
What is the primary driver of Soulformation's asset growth?
Soulformation's assets have grown from $127,785 in 2015 to $453,754 in 2023. This growth is likely driven by consistent positive net income (revenue exceeding expenses) in most years, allowing the organization to retain funds and build reserves.
Has Soulformation experienced any significant financial challenges?
While generally stable, the organization did experience a year in 2022 where expenses ($742,746) slightly exceeded revenue ($684,614). However, this appears to be an isolated instance, and the organization quickly recovered with positive net income in 2023.
Filing History
IRS 990 filing history for Soulformation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Soulformation's revenue has grown by 165%, moving from $299K to $793K. Total assets increased by 283.4% over the same period, from $118K to $454K. Total functional expenses rose by 201%, from $246K to $741K. In its most recent filing year (2023), Soulformation reported a surplus of $52K, with revenue exceeding expenses. The organization holds $18K in liabilities against $454K in assets (debt-to-asset ratio: 3.9%), resulting in net assets of $436K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $793K | $741K | $454K | $18K | — | — |
| 2022 | $685K | $743K | $386K | $1K | — | View 990 |
| 2021 | $591K | $555K | $443K | $0 | — | — |
| 2020 | $711K | $647K | $409K | $2K | — | View 990 |
| 2019 | $739K | $722K | $347K | $5K | — | View 990 |
| 2018 | $759K | $626K | $329K | $3K | — | View 990 |
| 2017 | $558K | $520K | $195K | $0 | — | — |
| 2016 | $591K | $562K | $157K | $0 | — | View 990 |
| 2015 | $478K | $485K | $128K | $0 | — | View 990 |
| 2014 | $717K | $445K | $134K | $0 | — | View 990 |
| 2013 | $408K | $416K | $133K | $14K | — | View 990 |
| 2012 | $385K | $359K | $141K | $14K | — | View 990 |
| 2011 | $299K | $246K | $118K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $793K, expenses of $741K, and assets of $454K (revenue +15.8% year-over-year).
- 2022: Revenue of $685K, expenses of $743K, and assets of $386K (revenue +15.9% year-over-year).
- 2021: Revenue of $591K, expenses of $555K, and assets of $443K (revenue -16.9% year-over-year).
- 2020: Revenue of $711K, expenses of $647K, and assets of $409K (revenue -3.7% year-over-year).
- 2019: Revenue of $739K, expenses of $722K, and assets of $347K (revenue -2.7% year-over-year).
- 2018: Revenue of $759K, expenses of $626K, and assets of $329K (revenue +36.2% year-over-year).
- 2017: Revenue of $558K, expenses of $520K, and assets of $195K (revenue -5.7% year-over-year).
- 2016: Revenue of $591K, expenses of $562K, and assets of $157K (revenue +23.6% year-over-year).
- 2015: Revenue of $478K, expenses of $485K, and assets of $128K (revenue -33.3% year-over-year).
- 2014: Revenue of $717K, expenses of $445K, and assets of $134K (revenue +75.6% year-over-year).
- 2013: Revenue of $408K, expenses of $416K, and assets of $133K (revenue +6.1% year-over-year).
- 2012: Revenue of $385K, expenses of $359K, and assets of $141K (revenue +28.7% year-over-year).
- 2011: Revenue of $299K, expenses of $246K, and assets of $118K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Soulformation:
Data Sources and Methodology
This transparency report for Soulformation 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.