Sola I Can Foundation
- Assets
- $2.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 15
- Location
- Los Angeles, CA
- Founding
- 05/2018
- Data as of
- 12/2022
- EIN
- 82-4698211
Organization Overview
Sola I Can Foundation is located in Los Angeles, CA. The organization was established in 2018. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 12/2022, Sola I Can Foundation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sola I Can 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, Sola I Can Foundation generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 67.6% each year . All expenses for the organization totaled $2.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOLA I CAN WORKS TO END INTERGENERATIONAL POVERTY IN SOUTH LOS ANGELES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOLA THOUSAND HOTSPOTS 4 THOUSAND DAYS OR 1000 X 1000 (T4T). THIS PROGRAM PROVIDES 1,000 HOTSPOTS TO INDIVIDUALS/ FAMILIES FOR 1,000 DAYS FREE OF CHARGE.
TECHNOLOGY & ENTREPRENEURSHIP CENTER (TEC): PROVIDES THE FOLLOWING:- ACCESS TO CAREER DEVELOPMENT & ENTREPRENEURSHIP - ACCESS TO EDUCATION & TECH INNOVATION- ACCESS TO FINANCIAL LITERACY & ECONOMIC MOBILITY- ACCESS TO COLLEGE READINESS
SOLA SCHOLAR PROGRAM - A COMMUNITY BASED SCHOLARSHIP AWARDING INSPIRING SOUTH LA HIGH SCHOOL SENIORS COMMITTED TO PURSUING A HIGHER EDUCATION AND MAKING AN IMPACT IN THEIR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherri Francois President/exec. Dir. | OfficerTrustee | 40 | $0 |
Michael Bernstein Treasurer | OfficerTrustee | 20 | $0 |
Shirley Montalvo Board Secretary | OfficerTrustee | 5 | $0 |
Daniel Rosove Board Member | Trustee | 20 | $0 |
Chole Boutelle Board Member | Trustee | 1 | $0 |
Melissa Waters Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $20,607 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,415,170 |
| Noncash contributions included in lines 1a–1f | $1,008 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,435,777 |
| Total Program Service Revenue | $10,602 |
| Investment income | $2,547 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $38,830 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$171,214 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,316,542 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $320,840 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $788,533 |
| Pension plan accruals and contributions | $18,465 |
| Other employee benefits | $44,441 |
| Payroll taxes | $61,228 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,723 |
| Fees for services: Accounting | $116 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $244,352 |
| Advertising and promotion | $58,887 |
| Office expenses | $46,908 |
| Information technology | $3,079 |
| Royalties | $0 |
| Occupancy | $100,419 |
| Travel | $8,142 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $111,123 |
| Insurance | $26,871 |
| All other expenses | $44,011 |
| Total functional expenses | $2,102,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,808 |
| Savings and temporary cash investments | $1,272,578 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $955,310 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,236,696 |
| Accounts payable and accrued expenses | $19,766 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $19,766 |
| Net assets without donor restrictions | $2,216,930 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,236,696 |