The Sophia Way
EIN: 454084539 · Bellevue, WA · NTEE: P85
| Metric | Value |
|---|---|
| Total Revenue | $4.5M |
| Total Expenses | $4.1M |
| Net Assets | $3.1M |
Is The Sophia Way Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About The Sophia Way
The Sophia Way (EIN: 454084539) is a nonprofit organization based in Bellevue, WA, classified under NTEE code P85. The organization reported total revenue of $4.5M and total assets of $3.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Sophia Way's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Sophia Way is a mid-size nonprofit that has been operating for 14 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 9.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.0M |
| Total Expenses | $4.1M |
| Surplus / Deficit | $-153,398 |
| Total Assets | $3.4M |
| Total Liabilities | $285K |
| Net Assets | $3.1M |
| Operating Margin | -3.8% |
| Debt-to-Asset Ratio | 8.5% |
| Months of Reserves | 9.7 months |
Financial Health Grade: B
In 2023, The Sophia Way reported a deficit of $153K with expenses exceeding revenue, holds 9.7 months of operating reserves (strong position), has a debt-to-asset ratio of 8.5% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), The Sophia Way's revenue has grown at a compound annual growth rate (CAGR) of 9.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.9% | +7.9% | -3.4% |
| 2022 | -12.1% | -5.3% | -1.5% |
| 2021 | +21.0% | +12.1% | +9.2% |
| 2020 | -1.9% | +42.9% | +4.5% |
| 2019 | +62.7% | +44.7% | +65.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2012 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for The Sophia Way 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 The Sophia Way 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 $153K, with expenses exceeding revenue.
- Debt-to-asset ratio: 8.5%.
Frequently Asked Questions about The Sophia Way
Is The Sophia Way a legitimate charity?
The Sophia Way (EIN: 454084539) is a registered tax-exempt nonprofit based in Washington. It has 12 years of IRS 990 filings on record. Total revenue: $4.5M. No red flags identified. Financial health grade: B.
How does The Sophia Way spend its money?
The Sophia Way reported $4.5M in total revenue in IRS 990 filings. 12 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to The Sophia Way tax-deductible?
The Sophia Way is registered as a tax-exempt nonprofit (EIN: 454084539). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is The Sophia Way located?
The Sophia Way is headquartered in Bellevue, Washington and files with the IRS under EIN 454084539. It is classified under NTEE code P85.
How many years of IRS 990 filings does The Sophia Way have?
The Sophia Way has 12 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 $4.5M in total revenue.
Filing History
IRS 990 filing history for The Sophia Way showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), The Sophia Way's revenue has grown by 172.5%, moving from $1.5M to $4.0M. Total assets increased by 226.4% over the same period, from $1.0M to $3.4M. Total functional expenses rose by 469%, from $728K to $4.1M. In its most recent filing year (2023), The Sophia Way reported a deficit of $153K, with expenses exceeding revenue. The organization holds $285K in liabilities against $3.4M in assets (debt-to-asset ratio: 8.5%), resulting in net assets of $3.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.0M | $4.1M | $3.4M | $285K | — | — |
| 2022 | $3.8M | $3.8M | $3.5M | $163K | — | View 990 |
| 2021 | $4.4M | $4.1M | $3.5M | $180K | — | View 990 |
| 2020 | $3.6M | $3.6M | $3.2M | $387K | — | — |
| 2019 | $3.7M | $2.5M | $3.1M | $340K | — | View 990 |
| 2018 | $2.3M | $1.7M | $1.9M | $169K | — | View 990 |
| 2017 | $1.8M | $1.7M | $1.3M | $94K | — | View 990 |
| 2016 | $1.3M | $1.2M | $1.3M | $162K | — | View 990 |
| 2015 | $1.2M | $1.1M | $983K | $97K | — | View 990 |
| 2014 | $1.2M | $1.1M | $891K | $101K | — | View 990 |
| 2013 | $1.2M | $1.3M | $856K | $168K | — | View 990 |
| 2012 | $1.5M | $728K | $1.0M | $295K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.0M, expenses of $4.1M, and assets of $3.4M (revenue +3.9% year-over-year).
- 2022: Revenue of $3.8M, expenses of $3.8M, and assets of $3.5M (revenue -12.1% year-over-year).
- 2021: Revenue of $4.4M, expenses of $4.1M, and assets of $3.5M (revenue +21.0% year-over-year).
- 2020: Revenue of $3.6M, expenses of $3.6M, and assets of $3.2M (revenue -1.9% year-over-year).
- 2019: Revenue of $3.7M, expenses of $2.5M, and assets of $3.1M (revenue +62.7% year-over-year).
- 2018: Revenue of $2.3M, expenses of $1.7M, and assets of $1.9M (revenue +27.1% year-over-year).
- 2017: Revenue of $1.8M, expenses of $1.7M, and assets of $1.3M (revenue +39.6% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.2M, and assets of $1.3M (revenue +8.9% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.1M, and assets of $983K (revenue -6.0% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.1M, and assets of $891K (revenue -0.3% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.3M, and assets of $856K (revenue -14.8% year-over-year).
- 2012: Revenue of $1.5M, expenses of $728K, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Sophia Way:
Data Sources and Methodology
This transparency report for The Sophia Way 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.