Soles4Souls, Inc.
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$15,238,748.00
Projected Expenses
$14,650,595.00
Organizational Budgets and Other Documents
| Soles4Souls FY24 Budget | 2024 |
| Soles4Souls FY23 Budget | 2023 |
| Soles4Souls FY22 Budget | 2022 |
| Soles4Souls FY21 Budget | 2021 |
| Soles4Souls FY20 Budget | 2020 |
| Soles4Souls FY19 Budget | 2019 |
| Soles4Souls FY18 Budget | 2018 |
| Soles4Souls FY17 Budget | 2017 |
| Soles4Souls FY16 Budget | 2016 |
| Soles4Souls FY15 Budget | 2015 |
| Soles4Souls FY14 Budget | 2014 |
| Soles4Souls FY09 Budget | 2009 |
| Soles4Souls FY08 Budget | 2008 |
IRS Letter of Exemption
| IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $108,371,544.00 | $92,759,575.00 | $81,779,226.00 |
| Total Expenses | $100,319,141.00 | $92,444,707.00 | $84,297,218.00 |
| Revenue Less Expenses | $8,052,403.00 | $314,868.00 | ($2,517,992.00) |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $0.00 | $764,900.00 |
| Contributions, Gifts, and Grants | $3,695,724.00 | $2,899,712.00 | $1,996,901.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $9,610,454.00 | $8,036,270.00 | $6,395,327.00 |
| Investment Income, Net of Losses | $29,810.00 | $14,922.00 | $9,890.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $94,989,365.00 | $81,736,982.00 | $72,536,731.00 |
| Other | $46,191.00 | $72,689.00 | $75,477.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $95,272,980.00 | $87,937,579.00 | $81,661,367.00 |
| Administration Expense | $3,142,367.00 | $2,263,718.00 | $1,345,257.00 |
| Fundraising Expense | $1,903,794.00 | $2,243,410.00 | $1,290,594.00 |
| Total Revenue/Total Expenses | 108% | 100% | 97% |
| Program Expense/Total Expenses | 95% | 95% | 97% |
| Fundraising Expense/Contributed Revenue | 2% | 2% | 2% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Noncash Contributions $94,989,365.00 | Noncash Contributions $81,736,982.00 | Noncash Contributions $72,536,731.00 |
| Second Highest Funding Source & Dollar Amount | Program Revenue $9,610,454.00 | Program Revenue $8,036,270.00 | Program Revenue $6,395,327.00 |
| Third Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $3,695,724.00 | Contribution, Gifts, and Grants $2,899,712.00 | Contributions, Gifts, and Grants $1,996,901.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $42,541,174.00 | $32,677,835.00 | $32,313,740.00 |
| Current Assets | $38,003,714.00 | $30,076,886.00 | $29,724,027.00 |
| Long-Term Liabilities | $1,618,350.00 | $1,729,246.00 | $1,834,853.00 |
| Current Liabilities | $3,653,913.00 | $1,768,267.00 | $1,543,487.00 |
| Total Net Assets | $37,268,911.00 | $29,180,322.00 | $28,935,400.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$7,436.05
What is the spending policy for your endowment?
N/A
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Under Extension
Form 990s
| Soles4Souls 2023 990 | 2023 |
| Soles4Souls 2022 990 | 2022 |
| Soles4Souls 2021 990 | 2021 |
| Soles4Souls 2020 990 | 2020 |
| Soles4Souls 2019 990 | 2019 |
| soles4souls 2018 990 | 2018 |
| soles4souls 2017 990 | 2017 |
| soles4souls 2016 990 | 2016 |
| soles4souls 2015 990 | 2015 |
| soles4souls 2014 990 | 2014 |
| soles4souls 2013 990 | 2013 |
| soles4souls 2012 990 | 2012 |
| soles4souls 2011 990 | 2011 |
| soles4souls 2010 990 | 2010 |
| soles4souls 2009 990 | 2009 |
| soles4souls 2008 990 | 2008 |
| soles4souls 2007 990 | 2007 |
Audit Documents
| Soles4Souls 2023 Audit | 2023 |
| Soles4Souls 2022 Audit Doc | 2022 |
| soles4souls 2021 audit | 2021 |
| soles4souls 2020 audit | 2020 |
| soles4souls 2019 audit | 2019 |
| soles4souls 2018 audit | 2018 |
| soles4souls 2017 audit | 2017 |
| soles4souls 2016 audit | 2016 |
| soles4souls 2015 audit | 2015 |
| soles4souls 2014 audit | 2014 |
| soles4Souls 2013 audit | 2013 |
| soles4souls 2012 audit | 2012 |
| soles4souls 2011 audit | 2011 |
| soles4souls 2010 audit | 2010 |
| soles4souls 2009 audit | 2009 |
| soles4souls 2008 audit | 2008 |
| soles4souls 2007 audit | 2007 |
CEO/Executive Director/Board Comments
| Because the formula utilized by GuideStar to calculate the above ratios does not include gifts in-kind, our percentage of fundraising expense vs. contributed revenue is skewed. Our fundraising staff (the majority of our fundraising expense) is responsible for raising dollars and in-kind donations. If in-kind donations are included, our fundraising expense is only 1.2% of total revenue raised. Soles4Souls receives a four-star rating on Charity Navigator because in-kind contributions are included in the calculation. We also would like to highlight our Earnings before Interest, Depreciation and Amortization (EBIDA) directly related to core operations (aside from gifts in kind). Soles4Souls' EBIDA for FY 2018 is $761,137. |
Foundation Staff Comments
| Financial figures are taken from the 990. Foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990. Financial documents completed by Kraft CPA's, PLLC. Comments provided by Hayley Sulfridge 4/9/24. |
