Soulistic Medical Institute
Soulistic Medical Institute experiences recent operating deficits despite significant revenue growth.
EIN: 161748771 · Tubac, AZ · NTEE: E22 · Updated: 2026-03-28
Is Soulistic Medical Institute Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Soulistic Medical Institute directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Soulistic Medical Institute
Soulistic Medical Institute (EIN: 161748771) is a nonprofit organization based in Tubac, AZ, classified under NTEE code E22. The organization reported total revenue of $11.8M and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Soulistic Medical Institute's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Soulistic Medical Institute with a Mission Score of 70 out of 100 (Good). 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, Soulistic Medical Institute 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
The IRS 990 filings consistently report 0% officer compensation, which is unusual for an organization of this size with over $12 million in annual revenue and suggests that executive compensation may be reported in other expense categories or that leadership is entirely volunteer-based.
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 Soulistic Medical Institute's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., $1.64M in 2022, $108K in 2023) indicate spending exceeds revenue.
- Significant increase in liabilities from $146,117 in 2015 to $1.59 million in 2023, potentially indicating increased debt reliance.
- Reported 0% officer compensation across all filings, which is unusual for an organization of this scale and warrants further scrutiny.
Strengths
The following positive indicators were identified for Soulistic Medical Institute:
- Strong revenue growth over the past decade, from $4.89 million in 2014 to $12.57 million in 2023, indicating increasing demand for services.
- Consistent filing of IRS 990 forms (13 filings), demonstrating a commitment to regulatory compliance and transparency.
- Substantial asset base of $3.58 million in 2023, providing some financial stability.
Frequently Asked Questions about Soulistic Medical Institute
Is Soulistic Medical Institute a legitimate charity?
Based on AI analysis of IRS 990 filings, Soulistic Medical Institute (EIN: 161748771) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Soulistic Medical Institute spend its money?
Soulistic Medical Institute directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Soulistic Medical Institute tax-deductible?
Soulistic Medical Institute is registered as a tax-exempt nonprofit (EIN: 161748771). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Soulistic Medical Institute cover its operating deficits, such as the $1.64 million in 2022 and $108,150 in 2023?
The organization likely covers these deficits by drawing from reserves, increasing liabilities, or through non-operating income sources not detailed in the provided summary. Further analysis of the full 990 forms would be needed to identify specific funding mechanisms.
What is the true executive compensation structure, given the reported 0% officer compensation?
The 0% officer compensation reported across all filings suggests either a fully volunteer leadership, or that compensation for key executives is categorized differently within the expense breakdown, such as under salaries and wages for non-officer employees or as contractor fees, which would require reviewing the detailed 990 forms.
What is the specific breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. This information is critical for a comprehensive assessment of spending efficiency and would be found in Part IX of the full IRS Form 990.
What is the nature of the significant increase in liabilities, from $146,117 in 2015 to $1.59 million in 2023?
The substantial increase in liabilities suggests the organization has taken on more debt, deferred revenue, or other financial obligations. Understanding the specific types of liabilities (e.g., mortgages, loans, accounts payable) would require reviewing the balance sheet in the full 990 forms.
Filing History
IRS 990 filing history for Soulistic Medical Institute showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Soulistic Medical Institute's revenue has grown by 376.9%, moving from $2.6M to $12.6M. Total assets increased by 223% over the same period, from $1.1M to $3.6M. Total functional expenses rose by 489.8%, from $2.2M to $12.7M. In its most recent filing year (2023), Soulistic Medical Institute reported a deficit of $108K, with expenses exceeding revenue. The organization holds $1.6M in liabilities against $3.6M in assets (debt-to-asset ratio: 44.4%), resulting in net assets of $2.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $12.6M | $12.7M | $3.6M | $1.6M | — | — |
| 2022 | $11.3M | $12.9M | $3.7M | $1.6M | — | View 990 |
| 2021 | $11.6M | $9.4M | $5.1M | $1.3M | — | View 990 |
| 2020 | $8.3M | $8.6M | $3.7M | $2.2M | — | — |
| 2019 | $7.2M | $6.9M | $3.3M | $1.4M | — | View 990 |
| 2018 | $5.6M | $5.6M | $2.9M | $1.3M | — | View 990 |
| 2017 | $4.8M | $5.1M | $2.8M | $1.2M | — | View 990 |
| 2016 | $5.3M | $5.3M | $3.1M | $1.3M | — | View 990 |
| 2015 | $5.6M | $5.1M | $2.0M | $146K | — | View 990 |
| 2014 | $4.9M | $4.7M | $1.6M | $166K | — | View 990 |
| 2013 | $4.3M | $4.1M | $1.3M | $146K | — | View 990 |
| 2012 | $3.2M | $3.2M | $1.2M | $117K | — | View 990 |
| 2011 | $2.6M | $2.2M | $1.1M | $58K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.6M, expenses of $12.7M, and assets of $3.6M (revenue +11.6% year-over-year).
- 2022: Revenue of $11.3M, expenses of $12.9M, and assets of $3.7M (revenue -2.8% year-over-year).
- 2021: Revenue of $11.6M, expenses of $9.4M, and assets of $5.1M (revenue +40.0% year-over-year).
- 2020: Revenue of $8.3M, expenses of $8.6M, and assets of $3.7M (revenue +14.7% year-over-year).
- 2019: Revenue of $7.2M, expenses of $6.9M, and assets of $3.3M (revenue +28.3% year-over-year).
- 2018: Revenue of $5.6M, expenses of $5.6M, and assets of $2.9M (revenue +17.1% year-over-year).
- 2017: Revenue of $4.8M, expenses of $5.1M, and assets of $2.8M (revenue -9.3% year-over-year).
- 2016: Revenue of $5.3M, expenses of $5.3M, and assets of $3.1M (revenue -4.7% year-over-year).
- 2015: Revenue of $5.6M, expenses of $5.1M, and assets of $2.0M (revenue +13.6% year-over-year).
- 2014: Revenue of $4.9M, expenses of $4.7M, and assets of $1.6M (revenue +14.1% year-over-year).
- 2013: Revenue of $4.3M, expenses of $4.1M, and assets of $1.3M (revenue +34.1% year-over-year).
- 2012: Revenue of $3.2M, expenses of $3.2M, and assets of $1.2M (revenue +21.1% year-over-year).
- 2011: Revenue of $2.6M, expenses of $2.2M, and assets of $1.1M.
Data Sources and Methodology
This transparency report for Soulistic Medical Institute 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.