Soar Foundation
- Assets
- $797.7k
- Revenue
- $89.4k
- Investments
- $734.5k
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 09/1998
- Data as of
- 12/2022
- EIN
- 41-1880574
Organization Overview
Soar Foundation is located in Minneapolis, MN. The organization was established in 1998. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Soar Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Soar Foundation generated $89.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (24.5%) each year. All expenses for the organization totaled $79.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Soar Foundation has awarded 51 individual grants totaling $318,659. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Weisman President | 0.25 | $0 | |
Alyn Weisman Secretary | 0.25 | $0 | |
Charles Weisman Treasurer | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $76,931 |
| Interest on Savings | $17 |
| Dividends & Interest | $20,374 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$7,919 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $89,403 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,495 |
| Printing and publications | $0 |
| Other expenses | $704 |
| Total operating and administrative expenses | $16,398 |
| Contributions, gifts, grants paid | $63,095 |
| Total expenses and disbursements | $79,493 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,219 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $23,011 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $274,869 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $797,685 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $30 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $30 |
Grants Awarded
Over the last fiscal year, Soar Foundation has awarded $63,095 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
ASSISTANCE LEAGUE PURPOSE: CHARITABLE GIVING | $145 |
CHABAD MINNEAPOLIS PURPOSE: CHARITABLE GIVING | $6,000 |
TEMPLE ISRAEL PURPOSE: CHARITABLE GIVING | $8,300 |
FLAHERTY FAMILY FOUNDATION PURPOSE: CHARITABLE GIVING | $1,000 |
UNIVERSITY OF MINNESOTA PURPOSE: CHARITABLE GIVING | $5,000 |
AFGJAN RELIEF PURPOSE: CHARITABLE GIVING | $4,000 |