Sounds True Foundation
EIN: 461236964 · Lafayette, CO · NTEE: W99
| Metric | Value |
|---|---|
| Total Revenue | $444K |
| Total Expenses | $686K |
| Net Assets | $303K |
Is Sounds True Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Sounds True Foundation
Sounds True Foundation (EIN: 461236964) is a nonprofit organization based in Lafayette, CO, classified under NTEE code W99. The organization reported total revenue of $444K and total assets of $109K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sounds True Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sounds True Foundation is a small nonprofit that has been operating for 10 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of 36.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $552K |
| Total Expenses | $686K |
| Surplus / Deficit | $-133,655 |
| Total Assets | $320K |
| Total Liabilities | $18K |
| Net Assets | $303K |
| Operating Margin | -24.2% |
| Debt-to-Asset Ratio | 5.6% |
| Months of Reserves | 5.6 months |
Financial Health Grade: B
In 2023, Sounds True Foundation reported a deficit of $134K with expenses exceeding revenue, holds 5.6 months of operating reserves (adequate), has a debt-to-asset ratio of 5.6% (very low leverage).
Financial Trends
Over 6 years of filings (2018–2023), Sounds True Foundation's revenue has grown at a compound annual growth rate (CAGR) of 36.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -38.1% | -29.0% | -27.1% |
| 2022 | +10.6% | +11.5% | -15.6% |
| 2021 | -41.6% | -2.9% | -10.5% |
| 2020 | +210.5% | +131.7% | +523.4% |
| 2019 | +285.7% | +295.8% | +403.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Sounds True Foundation 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 Sounds True Foundation 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $134K, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.6%.
Frequently Asked Questions about Sounds True Foundation
Is Sounds True Foundation a legitimate charity?
Sounds True Foundation (EIN: 461236964) is a registered tax-exempt nonprofit based in Colorado. It has 6 years of IRS 990 filings on record. Total revenue: $444K. No red flags identified. Financial health grade: B.
How does Sounds True Foundation spend its money?
Sounds True Foundation reported $444K in total revenue in IRS 990 filings. 6 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Sounds True Foundation tax-deductible?
Sounds True Foundation is registered as a tax-exempt nonprofit (EIN: 461236964). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Sounds True Foundation located?
Sounds True Foundation is headquartered in Lafayette, Colorado and files with the IRS under EIN 461236964. It is classified under NTEE code W99.
How many years of IRS 990 filings does Sounds True Foundation have?
Sounds True Foundation has 6 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 $444K in total revenue.
Filing History
IRS 990 filing history for Sounds True Foundation showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), Sounds True Foundation's revenue has grown by 378.4%, moving from $115K to $552K. Total assets increased by 1629.4% over the same period, from $19K to $320K. Total functional expenses rose by 605.3%, from $97K to $686K. In its most recent filing year (2023), Sounds True Foundation reported a deficit of $134K, with expenses exceeding revenue. The organization holds $18K in liabilities against $320K in assets (debt-to-asset ratio: 5.6%), resulting in net assets of $303K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $552K | $686K | $320K | $18K | — | — |
| 2022 | $893K | $966K | $440K | $3K | — | — |
| 2021 | $807K | $867K | $521K | $11K | — | View 990 |
| 2020 | $1.4M | $892K | $582K | $12K | — | View 990 |
| 2019 | $445K | $385K | $93K | $15K | — | View 990 |
| 2018 | $115K | $97K | $19K | $340 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $552K, expenses of $686K, and assets of $320K (revenue -38.1% year-over-year).
- 2022: Revenue of $893K, expenses of $966K, and assets of $440K (revenue +10.6% year-over-year).
- 2021: Revenue of $807K, expenses of $867K, and assets of $521K (revenue -41.6% year-over-year).
- 2020: Revenue of $1.4M, expenses of $892K, and assets of $582K (revenue +210.5% year-over-year).
- 2019: Revenue of $445K, expenses of $385K, and assets of $93K (revenue +285.7% year-over-year).
- 2018: Revenue of $115K, expenses of $97K, and assets of $19K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sounds True Foundation:
Data Sources and Methodology
This transparency report for Sounds True Foundation 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.