Souly Business Inc
Souly Business Inc maintains stable finances with zero liabilities and no officer compensation reported.
EIN: 201438541 · Alpharetta, GA · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $236K |
| Total Expenses | $217K |
| Program Spending | 80% |
| Net Assets | $182K |
| Transparency Score | 85/100 |
Is Souly Business Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Souly Business Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Souly Business Inc
Souly Business Inc (EIN: 201438541) is a nonprofit organization based in Alpharetta, GA. The organization reported total revenue of $236K and total assets of $195K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Souly Business Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Souly Business Inc is a small nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $239K |
| Total Expenses | $217K |
| Surplus / Deficit | +$22K |
| Total Assets | $182K |
| Net Assets | $182K |
| Operating Margin | 9.4% |
| Months of Reserves | 10.1 months |
Financial Health Grade: A
In 2023, Souly Business Inc reported a surplus of $22K with revenue exceeding expenses, holds 10.1 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Souly Business Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +37.0% | +5.3% | +14.0% |
| 2022 | +3.2% | +55.0% | -16.4% |
| 2021 | +16.7% | -9.9% | +23.5% |
| 2020 | -39.1% | -37.1% | -1.6% |
| 2019 | +0.1% | -4.1% | +2.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2004 |
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 Souly Business Inc with a Mission Score of 85 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, Souly Business 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $22K, with revenue exceeding expenses.
Executive Compensation Analysis
Souly Business Inc consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is a positive sign for minimizing overhead.
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 Souly Business Inc's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data, hindering full efficiency analysis.
Strengths
The following positive indicators were identified for Souly Business Inc:
- Consistent reporting of $0 liabilities across all filings, indicating strong financial health.
- No officer compensation reported, suggesting efficient use of funds or volunteer leadership.
- Stable asset growth, reaching $181,949 in the latest period.
- Consistent revenue generation over a decade, demonstrating organizational stability.
Frequently Asked Questions about Souly Business Inc
Is Souly Business Inc a legitimate charity?
Souly Business Inc (EIN: 201438541) is a registered tax-exempt nonprofit based in Georgia. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $236K. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Souly Business Inc spend its money?
Souly Business Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Souly Business Inc tax-deductible?
Souly Business Inc is registered as a tax-exempt nonprofit (EIN: 201438541). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Souly Business Inc's spending goes to programs?
Souly Business Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Souly Business Inc located?
Souly Business Inc is headquartered in Alpharetta, Georgia and files with the IRS under EIN 201438541.
How many years of IRS 990 filings does Souly Business Inc have?
Souly Business Inc 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 $236K in total revenue.
Is Souly Business Inc a good charity?
Based on the provided data, Souly Business Inc appears to be a financially stable organization with zero liabilities and no reported officer compensation, which are strong positive indicators. However, without detailed expense breakdowns (program, administrative, fundraising), a full assessment of its programmatic impact and spending efficiency is limited.
How does Souly Business Inc manage its liabilities?
Souly Business Inc has consistently reported $0 in liabilities across all 13 available IRS 990 filings, indicating excellent financial management and no reliance on debt.
What is the trend in Souly Business Inc's revenue?
Souly Business Inc's revenue has fluctuated over the past decade, ranging from a low of $144,947 in 2020 to a high of $244,862 in 2017. The latest reported revenue for 2023 was $239,107, showing a slight increase from the previous year.
Does Souly Business Inc compensate its officers?
No, Souly Business Inc has reported 0% officer compensation in all available IRS 990 filings, suggesting a volunteer-driven leadership or alternative compensation structures not classified as officer compensation.
Filing History
IRS 990 filing history for Souly Business Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Souly Business Inc's revenue has grown by 56.4%, moving from $153K to $239K. Total assets increased by 125.3% over the same period, from $81K to $182K. Total functional expenses rose by 53.2%, from $141K to $217K. In its most recent filing year (2023), Souly Business Inc reported a surplus of $22K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $239K | $217K | $182K | $0 | — | — |
| 2022 | $175K | $206K | $160K | $0 | — | View 990 |
| 2021 | $169K | $133K | $191K | $0 | — | View 990 |
| 2020 | $145K | $147K | $155K | $0 | — | View 990 |
| 2019 | $238K | $234K | $157K | $0 | — | View 990 |
| 2018 | $238K | $244K | $154K | $0 | — | View 990 |
| 2017 | $245K | $243K | $160K | $0 | — | View 990 |
| 2016 | $240K | $216K | $158K | $0 | — | View 990 |
| 2015 | $219K | $210K | $134K | $0 | — | View 990 |
| 2014 | $186K | $181K | $125K | $0 | — | View 990 |
| 2013 | $168K | $149K | $120K | $0 | — | View 990 |
| 2012 | $184K | $163K | $101K | $0 | — | View 990 |
| 2011 | $153K | $141K | $81K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $239K, expenses of $217K, and assets of $182K (revenue +37.0% year-over-year).
- 2022: Revenue of $175K, expenses of $206K, and assets of $160K (revenue +3.2% year-over-year).
- 2021: Revenue of $169K, expenses of $133K, and assets of $191K (revenue +16.7% year-over-year).
- 2020: Revenue of $145K, expenses of $147K, and assets of $155K (revenue -39.1% year-over-year).
- 2019: Revenue of $238K, expenses of $234K, and assets of $157K (revenue +0.1% year-over-year).
- 2018: Revenue of $238K, expenses of $244K, and assets of $154K (revenue -2.9% year-over-year).
- 2017: Revenue of $245K, expenses of $243K, and assets of $160K (revenue +2.1% year-over-year).
- 2016: Revenue of $240K, expenses of $216K, and assets of $158K (revenue +9.3% year-over-year).
- 2015: Revenue of $219K, expenses of $210K, and assets of $134K (revenue +18.2% year-over-year).
- 2014: Revenue of $186K, expenses of $181K, and assets of $125K (revenue +10.3% year-over-year).
- 2013: Revenue of $168K, expenses of $149K, and assets of $120K (revenue -8.6% year-over-year).
- 2012: Revenue of $184K, expenses of $163K, and assets of $101K (revenue +20.4% year-over-year).
- 2011: Revenue of $153K, expenses of $141K, and assets of $81K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Souly Business Inc:
Data Sources and Methodology
This transparency report for Souly Business 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.