Civic Intelligence

Soarway Foundation

990 • Fiscal year 2022 • EIN 47-3883147

Jan 01, 2022 to Dec 31, 2022 • Filed on May 09, 2023

Organization Profilewww.soarway-foundation.org
5022 Grand Beech CtHaymarket, VA 20169

(703) 401-2951

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

98th percentile

2.83x

Higher debt load relative to assets than 98% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

90th percentile

0.40x

Higher debt load relative to revenue than 90% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

9th percentile

-57%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

5th percentile

-78%

Faster asset growth than 5% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

11th percentile

-52%

Faster revenue growth than 11% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$17,639

Down $63,838 (-78%) from 2021

Net Assets

Down

-$32,361

Down $66,028 (-196%) from 2021

Liabilities

Up

$50,000

Up $2,190 (+4.6%) from 2021

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin9th percentile

Revenue

Down

$124,665

Down $134,683 (-52%) from 2021

Expenses

Down

$195,526

Down $61,012 (-24%) from 2021

Net Income

Down

-$70,861

Down $73,671 (-2622%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0-$50KAssets 2015: $23,952Liabilities 2015: $0Net Assets 2015: $23,9522015Assets 2016: $21,653Liabilities 2016: $0Net Assets 2016: $21,6532016Assets 2018: $90,201Liabilities 2018: $0Net Assets 2018: $90,2012018Assets 2019: $16,218Liabilities 2019: $0Net Assets 2019: $16,2182019Assets 2020: $85,690Liabilities 2020: $54,833Net Assets 2020: $30,8572020Assets 2021: $81,477Liabilities 2021: $47,810Net Assets 2021: $33,6672021Assets 2022: $17,639Liabilities 2022: $50,000Net Assets 2022: -$32,3612022Assets 2023: $137,402Liabilities 2023: $0Net Assets 2023: $137,4022023Assets 2024: $69,979Liabilities 2024: $0Net Assets 2024: $69,9792024

Highlighted filing

2022

Assets$17,639
Liabilities$50,000
Net Assets-$32,361
Open 2022 Filing

Operations Trend

Revenue Growth11th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100K-$200KRevenue 2015: $107,044Expenses 2015: $83,092Net Income 2015: $23,9522015Revenue 2016: $146,543Expenses 2016: $148,842Net Income 2016: -$2,2992016Revenue 2018: $173,936Expenses 2018: $132,372Net Income 2018: $41,5642018Revenue 2019: $46,554Expenses 2019: $152,289Net Income 2019: -$105,7352019Revenue 2020: $173,480Expenses 2020: $158,841Net Income 2020: $14,6392020Revenue 2021: $259,348Expenses 2021: $256,538Net Income 2021: $2,8102021Revenue 2022: $124,665Expenses 2022: $195,526Net Income 2022: -$70,8612022Revenue 2023: $232,216Expenses 2023: $112,453Net Income 2023: $119,7632023Revenue 2024: $41,455Expenses 2024: $108,878Net Income 2024: -$67,4232024

Highlighted filing

2022

Revenue$124,665
Expenses$195,526
Net Income-$70,861
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 9, 2023
Return Version
2022v5.0
Gross Receipts
$124,665
Mission and Program Overview

Mission

The soarway foundation's purpose is to address, coordinate, and provide aid and relief to nepal on a local and global level.

The Soarway Foundations purpose is to address, coordinate and provide aid and relief to Nepal on a local and global level.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$80,222$16,886▼ $63,336
Land, Buildings, and Equipment, Net$1,255$753▼ $502
Total Assets$81,477$17,639▼ $63,838
Liabilities
Mortgage Notes Payable Secured by Investment Property$47,810$50,000▲ $2,190
Total Liabilities$47,810$50,000▲ $2,190
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$33,667$-32,361▼ $66,028
Total Net Assets Fund Balance$33,667$-32,361▼ $66,028
Total Liabilities and Net Assets / Fund Balance$81,477$17,639▼ $63,838

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$753$921-
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Joshua LamancusaPresident
Devin OrsiExecutive Vice President
Scott DeLisiExecutive Director
Eric SagunSecretary
Anthony LagneseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$124,665
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-70,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$117,734
Salaries, Compensation, and Employee Benefits$43,060
Other Expenses$34,732
Total Fundraising Expense$26,093
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$117,734--$117,734
Other Salaries and Wages-$40,000-$40,000
All Other Expenses--$16,200$16,200
Travel--$3,951$3,951
Fees for Services Legal-$3,510-$3,510
Payroll Taxes-$3,060-$3,060
Fees for Services Accounting-$1,500-$1,500
Insurance-$945-$945
Other Expenses-$740$175$740
Office Expenses-$739-$739
Information Technology-$603-$603
Depreciation Depletion$502--$502
Advertising--$292$292
Total Functional Expenses$118,236$51,197$26,093$195,526
International Activity

International Summary

Offices
1

International Compliance

Foreign grant records maintained
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaProgram servicesAid & relief1--
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fund Raising----
Fund Raising----
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“The Soarway Foundations purpose is to address, coordinate and provide aid and relief to Nepal on a local and global level.”

Governing documents etc available to public Part VI line 19

“Documents Availabe to Public”

Filing and Contact Details

Filer

Filer Name
The Soarway Foundation
EIN
47-3883147
Address
5022 Grand Beech Ct, Haymarket, VA 20169

Signing Officer

Name
Scott Delisi
Title
Executive Direc
Phone
7034012951
Signed
2023-05-09
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Keya Accounting & Tax Services LLC
Address
3615 Chain Bridge Road Suite C, Fairfax, VA 22030
Preparer
Keshab Baral
Phone
5712168951
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IRS990/WrittenPolicyOrProcedureInd0false
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Scott Delisi
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Direc
ReturnHeader/BusinessOfficerGrp/PhoneNum07034012951
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Soarway Foundation
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ReturnHeader/Filer/USAddress/AddressLine1Txt05022 Grand Beech Ct
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ReturnHeader/PreparerPersonGrp/PhoneNum05712168951
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Keshab Baral
ReturnHeader/ReturnTs02023-11-14T12:43:11-05:00
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ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,639
Liabilities
$50,000
Net assets
-$32,361
Revenue
$124,665
Expenses
$195,526
Net income
-$70,861
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$0.41$1.09$0.67
2023Detailed filing. Detailed filing data is available for this year.$1.37$0.00$1.37$2.32$1.12$1.20
2022Detailed filing. Detailed filing data is available for this year.$0.18$0.50$0.32$1.25$1.96$0.71
2021Detailed filing. Detailed filing data is available for this year.$0.81$0.48$0.34$2.59$2.57$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.86$0.55$0.31$1.73$1.59$0.15
2019Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.47$1.52$1.06
2018Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$1.74$1.32$0.42
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$1.47$1.49$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$1.07$0.83$0.24