SOAR365
Meets Standards
Standards For Charity Accountability
Governance
-
Board Oversight
-
Board Size
-
Board Meetings
-
Board Compensation
-
Conflict of Interest
Measuring Effectiveness
-
Effectiveness Policy
-
Effectiveness Report
Finances
-
Program Expenses
-
Fundraising Expenses
-
Accumulating Funds
-
Audit Report
-
Detailed Expense Breakdown
-
Accurate Expense Reporting
-
Budget Plan
Fundraising & Info
-
Truthful Materials
-
Annual Report
-
Website Disclosures
-
Donor Privacy
-
Cause Marketing Disclosures
-
Complaints
SOAR365 meets the 20 Standards for Charity Accountability.
Stated Purpose:
"to create life-fulfilling opportunities for individuals with disabilities, in partnership with families."
Year, State Incorporated:
1954, VA
SOAR365 offers human services and business solutions in greater Richmond. The organization’s human services programs include pediatric therapy programs for babies and children with developmental delays or disabilities; year-round children and youth day programs; day support for adults with severe and/or complex disabilities; and respite and summer camps. SOAR365 also offers workforce development, supported employment, and direct employment for individuals with disabilities. Through services offered by the Business Solutions program, SOAR365 participants can find reliable employment, which offers independence and self-esteem.
For the year ended December 31, 2022, SOAR365's program expenses were:
Program services: $17,644,371
Total Program Expenses: $17,644,371
Chief Executive
John Walker, President and CEO
Compensation*
$305,525
Chair of the Board
Clinton Kelly
Chair's Profession / Business Affiliation
Senior Vice President, Director of Consumer Compliance, Atlantic Union Bank
Board Size
16
Paid Staff Size
333
*2021 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Direct mail appeals, Radio, Special events
Fundraising costs were 24% of related contributions. (Related contributions, which totaled $3,214,389, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on SOAR365's audited financial statements for the year ended December 31, 2022.
Source of Funds
| Investment loss | $-147,954 |
| Pediatric therapy | $1,150,112 |
| CARES act and other relief funding | $2,000,000 |
| Day support services | $2,087,620 |
| Business solutions | $12,478,729 |
| Realized and unrealized gain on interest rate swap | $28,677 |
| Development | $1,214,389 |
| Respite and summer camp | $299,963 |
| Other income | $16,539 |
| Total Income | $19,128,075 |
Programs: 89% Fundraising: 4% Administrative: 7%
| Total Income | $19,128,075 |
| Total expenses: | $19,869,020 |
| Program expenses | $17,644,371 |
| Fundraising expenses | $772,414 |
| Administrative expenses | $1,452,235 |
| Other expenses | $0 |
| Income in Excess of Expenses | $-740,945 |
| Beginning Net Assets | $15,105,605 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $14,364,660 |
| Total Liabilities | $7,138,019 |
| Total Assets | $21,502,679 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
-
Meets Standards
-
Standards Not Met
-
Did Not Disclose
-
Review in Progress
-
Unable to Verify
Report completed by:
BBB Wise Giving Alliance